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 help Detroit’s struggling Big [...]
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 Wednesday for $25 billion in [...]
Nardelli: Chrysler is close to running out of cash
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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 auto sales.
That would be [...]
Mulally: Inaction on auto aid threatens U.S. economy
Wagoner: ‘We will repay the taxpayer’s faith’
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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 risks to our already fragile [...]
Chrysler’s Nardelli says he’d mimic Iacocca, accept $1 salary
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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 he would make that gesture [...]
Auto aid may hinge on additional conditions, Senate leader says
Most Republicans oppose industry help
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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 measure without more conditions on [...]
