November 8, 2008 GM grapples to avoid filing bankruptcy as cash vanishes BY KATIE MERX FREE PRESS BUSINESS WRITER General Motors Corp., for 77 years the world’s largest automaker and an icon of American industry, revealed a dire financial outlook Friday that has the company teetering on the edge of bankruptcy. Ford [...]
November 8, 2008 Shared sacrifice is way to sell auto bailout BY TOM WALSH FREE PRESS COLUMNIST Detroit’s captains of industry had already pawned the fancy candlesticks and sold off most of the furniture. Friday, they publicly pleaded poverty, admitting they may not survive much longer without massive infusions of government cash or adoption by [...]
Saturday, November 8, 2008 Ford treads in deepening water Bryce G. Hoffman / The Detroit News Ford Motor Co. is trying to pull off a delicate balancing act as Detroit’s Big Three continue to slide toward the brink of bankruptcy: convincing Wall Street and consumers that its financial woes are not as severe as those [...]
GM may run out of cash by mid-2009 S&P lowers GM debt rating, citing ‘unabated’ cash burn queryvar=”gm,may,run,out,of,cash,by,mid-2009″; Jamie LaReau Automotive News | November 7, 2008 – 11:07 am EST DETROIT — General Motors, battling “unprecedented economic and credit market turmoil,’’ reported its fifth straight quarterly loss today and warned that it may [...]
Hyundai, Chrysler in talks as GM pulls out queryvar=”hyundai,chrysler,in,talks,as,gm,pulls,out”; Automotive News | November 8, 2008 – 12:01 am EST DETROIT(Reuters) — South Korea’s Hyundai Motor Co. has had talks with Chrysler LLC owner Cerberus Capital Management LP about a potential acquisition of the U.S. automaker’s Jeep brand and possibly other assets, people with [...]
Saturday, November 8, 2008 Layoffs, losses spell more gloom for Big 3 employees Autoworkers worried about the future Nathan Hurst and Jennifer Chambers / The Detroit News Big Three workers across southeast Michigan left office buildings and factories Friday afternoon under bleak skies that reflected a souring mood in their workplaces. Struck by [...]
