Wednesday, November 19, 2008 Senate cancels vote on bailout for Big 3 automakers Detroit News staff and wire reports WASHINGTON — The Senate’s top Democrat has called off a planned vote this week on a $25 billion auto industry bailout. Senate Majority Leader Harry Reid said that he wanted to figure out some way to [...]
Auto execs’ private flights to Washington draw ire Wed Nov 19, 2008 4:54pm EST By Karey Wutkowski WASHINGTON (Reuters) – Memo to U.S. companies seeking a bailout: When visiting Congress to ask for money, leave the private jets at home. Chief executives from General Motors Corp, Ford Motor Co, and Chrysler LLC pleaded on [...]
Nardelli: Chrysler is close to running out of cash queryvar=”nardelli:,chrysler,is,close,to,running,out,of,cash”; David Barkholz and Harry Stoffer Automotive News November 18, 2008 – 7:21 pm ET Chrysler LLC CEO Bob Nardelli told a Senate hearing today that the automaker will burn through $5 billion to $7 billion in cash in 2009 during another tough year for [...]
Mulally: Inaction on auto aid threatens U.S. economy Wagoner: ‘We will repay the taxpayer’s faith’ queryvar=”mulally:,inaction,on,auto,aid,threatens,us,economy”; Harry Stoffer Automotive News November 18, 2008 – 3:00 pm ET UPDATED: 11/18/08 3:50 p.m. EST WASHINGTON — Ford Motor Co. CEO Alan Mulally warned today that a government failure to aid the auto industry would create "tremendous [...]
Chrysler’s Nardelli says he’d mimic Iacocca, accept $1 salary queryvar=”chrysler’s,nardelli,says,he’d,mimic,iacocca,accept,,$1,salary”; David Barkholz Automotive News November 18, 2008 – 7:47 pm ET Chrysler LLC CEO Bob Nardelli said he would accept $1 per year in salary if it helped Chrysler obtain its $7 billion share of a proposed $25 billion automaker rescue package. Nardelli said [...]
Auto aid may hinge on additional conditions, Senate leader says Most Republicans oppose industry help queryvar=”auto,aid,may,hinge,on,additional,conditions,senate,leader,says”; Harry Stoffer and David Barkholz Automotive News November 18, 2008 – 5:21 pm ET UPDATED: 11/18/08 9:03 p.m. EST WASHINGTON — Senate supporters of $25 billion in emergency loans for automakers don’t have the votes to pass the [...]
