UAW leader says blame economy for Detroit 3 woes
By MARK WILLIAMS – 42 minutes ago
COLUMBUS, Ohio (AP) — Even as Detroit’s Big Three teeter on collapse, United Auto Workers President Ron Gettelfinger said Saturday that the problem is not the union’s contract with the automakers and that getting the automakers back on their feet means [...]
Friday, November 14, 2008
GM’s Opel seeks help from Germany
Associated Press
FRANKFURT, Germany — A spokesman for automaker Adam Opel GmbH, which is owned by General Motors Corp., says the company will seek help from the German government as the financial crisis grips European carmakers.
Company spokesman Joerg Schrott told The Associated Press a guarantee was being sought [...]
Friday, November 14, 2008
New poll says majority of Americans support bailout for Detroit’s automakers
David Shepardson / Detroit News Washington Bureau
WASHINGTON — A new poll released today says a majority of Americans back giving automakers a $25 billion federal bailout — that’s in contrast two earlier polls that said Americans were skeptical or opposed the action.
By [...]
Friday, November 14, 2008
Bush backs federal aid for Big 3 without fuel strings
He wants Congress to allow carmakers to use $25B in energy funds to shore up financesDems push access to $700B bailout
David Shepardson / Detroit News Washington Bureau
WASHINGTON — President Bush wants Congress to move quickly to grant Detroit’s Big Three automakers access to [...]
Four automakers pull out of the 2009 Detroit Auto Show
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Ryan Beene
Automotive News | November 14, 2008 – 4:34 pm EST
DETROIT –Rolls Royce and Land Rover, as well as Italian sports car maker Ferrari and economy-focused automaker Suzuki, have told show officials they will not have displays at the North American International Auto show this [...]
As U.S. sales slump, Honda plans inventory cuts
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Kevin Huang
Automotive News | November 14, 2008 – 3:56 pm EST
Honda CEO Takeo Fukui
GUANGZHOU, China — To cope with slow sales in the United States, Honda Motor Co. is following a familiar script: reduce inventory.
With [...]
GM, suppliers: Trapeze artists with no net
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Robert Sherefkin
Automotive News | November 14, 2008 – 3:16 pm EST
DETROIT — General Motors and its suppliers are performing a death-defying trapeze act. And suppliers’ insurance companies are rolling up the net.
If GM files for Chapter 11 reorganization, it will drag its suppliers down, too. On the other [...]
Lawmakers: Detroit 3 must show they got derailed
‘Dust off that old Chrysler playbook’
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David Barkholz
Automotive News | November 14, 2008 – 4:23 pm EST
To stand a chance at a $25 billion federal rescue, the Detroit 3 CEOs must convince Congress that the companies’ restructurings have been derailed by a credit and vehicle sales collapse, says [...]
Bush changes course in auto aid stalemate
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Harry Stoffer
Automotive News | November 14, 2008 – 7:31 pm EST
WASHINGTON — A change of direction late this afternoon by the White House could ease the political stalemate over emergency aid to the Detroit 3.
The White House is recommending that Congress revise a $25 billion loan program already [...]
