GM Daewoo pauses production at 4 plants
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Gary Anglebrandt
Automotive News | November 14, 2008 – 11:24 am EST
SEOUL — GM Daewoo Auto & Technology Co. will idle its four South Korean plants for eight working days from Dec. 22 to Jan. 4 amid slowing demand.
This is the first time since General Motors bought Daewoo in [...]
Senate Majority Leader Reid vows to press for auto aid
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Harry Stoffer
Automotive News | November 14, 2008 – 1:36 pm EST
U.S. Sen. Harry Reid, D-Nev.
WASHINGTON — Senate Majority Leader Harry Reid said today he’s pressing ahead with legislation to help automakers despite an [...]
The cost of GM’s death
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Automotive News | November 14, 2008 – 12:28 pm EST
ENLARGE
If Congress thinks a bailout of General Motors is expensive, it should consider the cost of a GM failure.
Let’s be clear. The alternative to government cash for GM is not [...]
Friday, November 14, 2008
Carmaker crisis hits suppliers
S&P: Negative scenario for a dozen companies
Alisa Priddle / The Detroit News
The fallout from the financial crisis in the auto industry is reverberating down the parts supply chain of Detroit’s Big Three, with more cost cutting, job losses, bankruptcies and liquidations expected.
Massive restructuring by suppliers in recent years has [...]
Friday, November 14, 2008
Auto aid proposal hits GOP roadblock
Big 3 CEOs, union chief plan full-court press next week on Capitol Hill for $25B emergency loan.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — A plan to provide $25 billion in emergency loans to Detroit’s Big Three automakers ran into stiffening resistance from Republicans on Thursday, putting [...]
Friday, November 14, 2008
Daniel Howes: Commentary
Big 3 must prove they are worth it
Gentlemen:
You’re the bosses (for now) of the Big Three automakers, not Big Tobacco, but the prospect of being grilled next week by New England’s dynamic duo — Rep. Barney Frank, D-Mass, and Sen. Christopher Dodd, D-Conn. — likely could make you feel as [...]
Friday, November 14, 2008
U.S. security debate lurks in Big 3 woes
Gordon Trowbridge / Detroit News Washington Bureau
When defense analyst Loren Thompson recently visited the factory in Marietta, Ga., where defense giant Lockheed-Martin builds the Air Force’s F-22 fighter plane, he was introduced to the just-hired executive overseeing the plant’s manufacturing processes.
The exec’s previous employer: General [...]
Mercedes cuts 1 shift in Alabama
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Lindsay Chappell
Automotive News | November 14, 2008 – 12:01 am EST
Mercedes-Benz U.S. International will eliminate a shift on one of the two lines at its SUV and crossover plant in Vance, Ala.
Beginning in January, the change will reduce output of the M-class crossovers and GL-class SUVs built at the [...]
Report: Insurers pull cover from GM, Ford suppliers
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Automotive News
November 14, 2008 – 5:00 am ET
LONDON (Reuters) — Three big European credit insurers have removed cover from suppliers of troubled U.S. carmakers General Motors and Ford Motor, the Financial Times reported on Friday.
The withdrawal of credit insurance, which covers suppliers against the risk of the [...]
Opposition mounts to industry bailout plans
Few GOP senators known to support effort
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David Barkholz
Automotive News | November 14, 2008 – 12:01 am EST
ENLARGE
Senate Banking Committee Chairman Chris Dodd, D-Conn., speaks to reporters in the Capitol Oct. 1, 2008.
[...]
