Archive for November 11th, 2008
GM scraps plans for news conference at upcoming L.A. Auto Show
Tuesday, November 11, 2008 GM scraps plans for news conference at upcoming L.A. Auto Show Robert Snell / The Detroit News DETROIT –General Motors Corp. has canceled plans to hold a news conference during next week’s Los Angeles Auto Show and send Vice Chairman Bob Lutz, a cost-cutting move that comes as the automaker faces [...]
J.P. Morgan: GM likely to survive, bonds a ‘buy’
J.P. Morgan: GM likely to survive, bonds a ‘buy’ queryvar=”jp,morgan:,gm,likely,to,survive,bonds,a,buy”; Automotive News | November 11, 2008 – 11:00 am EST NEW YORK (Reuters) — General Motors’ extremely distressed debt is an attractive investment as the automaker has several options to improve its liquidity and survive the economic downturn, according to credit analysts [...]
White House endorses accelerated auto-loan funds
White House endorses accelerated auto-loan funds queryvar=”white,house,endorses,accelerated,auto-loan,funds”; Automotive News | November 11, 2008 – 10:45 am EST WASHINGTON (Reuters) – The White House today said it was open to considering any proposals from Congress to accelerate loans to the ailing U.S. auto industry from funds already appropriated. "We’re open to ideas from Congress [...]
Lawmakers prepare industry-aid bills for lame-duck session
Lawmakers prepare industry-aid bills for lame-duck session Pelosi to call for ‘emergency and limited financial assistance’ queryvar=”lawmakers,prepare,industry-aid,bills,for,lame-duck,session”; Harry Stoffer Automotive News | November 11, 2008 – 3:14 pm EST WASHINGTON — Key members of Congress said today they are preparing emergency legislation that would provide more federal aid to the auto industry. House [...]
UAW board member: ‘We’re worried’ about retiree health care benefits
UAW board member: ‘We’re worried’ about retiree health care benefits queryvar=”uaw,board,member:,were,worried,about,retiree,health,care,benefits”; Jeremy Smerd Automotive News | November 11, 2008 – 10:19 am EST Caretakers of the UAW’s health care trust are concerned that the slumping fortunes of the Detroit 3 could leave retirees without health care benefits. "Obviously, we’re as worried as [...]
In the end, GM shareholders might get stuck with nothing
November 11, 2008 In the end, GM shareholders might get stuck with nothing Analyst sees 1 year for stock BY SUSAN TOMPOR FREE PRESS COLUMNIST Could General Motors Corp. — and all those Chevys and Cadillacs — soon be worth absolutely nothing? OK, we all know nobody’s going to hand over the keys to a [...]
Detroit will never be the same
Tuesday, November 11, 2008 Daniel Howes Commentary: Detroit will never be the same It’s over, folks. No matter what comes of the increasingly frantic Detroit bailout talks in Washington, or General Motors Corp.’s desperate bid to keep its critical cash hoard from disappearing, or Chrysler LLC’s next move to avoid bankruptcy, or Ford Motor Co.’s [...]