Auto companies would get swift aid under Senate bill
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Harry Stoffer
Automotive News
November 17, 2008 – 7:49 pm ET

 
WASHINGTON — Auto companies would be able to receive emergency aid within a month under a Senate proposal for a $25 billion loan package that circulated here late Monday.
If enacted, the bill would direct the Treasury secretary [...]

6 myths about the Detroit 3

BY MARK PHELAN
FREE PRESS COLUMNIST
The debate over aid to the Detroit-based automakers is awash with half-truths and misrepresentations that are endlessly repeated by everyone from members of Congress to journalists. Here are six myths about the companies and their vehicles, and the reality in each case.
Myth No. 1
Nobody buys [...]

Sparks fly over auto bailout
Critics want line drawn at banks; others worry about impact on economy of a Detroit 3 failure
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Neil Roland
Financial Week
November 17, 2008 – 11:08 am ET

 
A bailout for the automobile industry being pushed by Democrats would assist companies that shouldn’t be getting aid, open the door to other undeserving applicants, [...]

Obama says U.S. must help automakers, create ’sustainable’ industry
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Dave Versical
November 17, 2008 – 12:01 am ET

 
President-elect Barack Obama said the federal government must help the Detroit 3 get through their cash crisis while making sure that any aid to the automakers creates a "sustainable” industry.
"We need to provide assistance,” Obama said in an interview [...]

GM will delay dealer incentive payments
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Jamie LaReau
Automotive News
November 17, 2008 – 3:00 pm ET

 
DETROIT — General Motors will delay incentive payments to dealers next week in an effort to save cash.
The payments for dealer cash, customer cash and other incentives will be delayed from Nov. 28 until Dec. 11, Mark LaNeve, GM’s vice [...]

Monday, November 17, 2008
Auto aid debate heats up
Senate takes up $25B in loans today; industry pressured for concessions
David Shepardson and Christine Tierney / The Detroit News
WASHINGTON — As U.S. lawmakers start debating today whether to grant Detroit’s automakers $25 billion in loans to tide them over a critical stretch, the car companies and the United [...]

Monday, November 17, 2008
White House refines position on auto industry help
Stephen Ohlemacher / Associated Press
WASHINGTON — The Bush White House stressed Monday that it supports help for the struggling auto industry, but believes it should not be taken from the $700 billion financial system rescue program.
As lawmakers were returning to a lame duck session to [...]

Monday, November 17, 2008
GM to sell stake in Suzuki to raise cash
Shino Yuasa / Associated Press
TOKYO — Cash-strapped General Motors Corp. will sell its entire stake in Suzuki Motor Corp. for 22.37 billion yen ($230 million), the automaker’s latest move to stay afloat while awaiting a decision on government aid for the industry.
Suzuki said Monday [...]