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 Motor Co. delivered its own grim forecast — [...]
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 a benevolent rescuer.
Now, [...]
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 facing its crosstown [...]
GM may run out of cash by mid-2009
S&P lowers GM debt rating, citing ‘unabated’ cash burn
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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 not have enough cash to operate [...]
Hyundai, Chrysler in talks as GM pulls out
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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 knowledge of the talks told [...]
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 news that General Motors Corp. is running [...]
