Friday, November 21, 2008
Gettelfinger: Jobs bank ‘almost gone’
Bryce G. Hoffman / The Detroit News
Reports that the United Auto Workers union is in talks to dismantle the controversial jobs bank program are premature, according to people familiar with the situation.
The possibility of more concessions from the union has emerged as Detroit’s Big Three automakers are seeking [...]
Friday, November 21, 2008
Alabama emerges as foe to auto aid
Delegation of state with several foreign auto plants voices criticism, irks UAW, Karmanos.
Bryce G. Hoffman / The Detroit News
If much of the Congress’ criticism of Detroit’s Big Three automakers seems to be coming from south of the Mason-Dixon Line, that may be because foreign competitors like [...]
Friday, November 21, 2008
Congress: Auto execs must show ’significant sacrifices’
David Shepardson / Detroit News Washington Bureau
WASHINGTON — Detroit’s Big Three automakers must provide a detailed nine-point plan to Congress by Dec. 2 in order to win approval of $25 billion in emergency bridge loans and show that "top automobile executives (are) making significant sacrifices and [...]
GM alters production schedule to save cash
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Richard Truett
Automotive News | November 21, 2008 – 12:56 pm EST
DETROIT — General Motors is further altering its production schedule for December and January in a bid to save cash and balance its inventory.
GM spokesman Chris Lee said some plants will get a week of additional downtime, while [...]
White House criticizes Congress on automaker aid
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Automotive News
November 21, 2008 – 11:45 am ET
ABOARD AIR FORCE ONE (Reuters) — The White House criticized Congress today for going on recess without taking action on a plan to help automakers, saying Democrats had "mindless opposition" to what Republicans support.
"It is appalling that Congress decided to leave [...]
De-plane! De-plane! GM jettisons 2 jets
Company says it already planned to reduce its fleet
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Richard Truett
Automotive News
November 21, 2008 – 1:10 pm ET
DETROIT — General Motors is scrubbing part of its corporate jet fleet — and scrambling to explain why.
Two of seven leased jets were grounded in September when their leases expired. Now two [...]
Pelosi: Delay of Detroit 3 aid ‘good news’
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Harry Stoffer
Automotive News
November 21, 2008 – 12:35 pm ET
WASHINGTON — Democratic leaders of Congress plan to send a letter today to the CEOs of the Detroit 3, spelling out what they want to see in plans the companies must file before lawmakers will consider emergency loans.
House [...]
November 22, 2008
Automaker to Return 2 Leased Jets
By LESLIE WAYNE
After coming under criticism in Washington, General Motors has decided to return two of its leased corporate jets.
G.M. said that the timing was coincidental — that it had already been in the process of returning two of its jets. But the return of the jets comes [...]
Harry Stoffer
Automotive News | November 20, 2008 – 11:18 am EST
Waxman unseats auto ally on House energy committee
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ENLARGE
Rep. Henry Waxman, D-Calif., left, has unseated Rep. John Dingell, D-Mich., longtime auto industry ally in Congress, as chairman of the powerful House Energy and [...]
As GM Goes, So Goes the GOP
by Patrick J. Buchanan Posted 11/18/2008 ET
Understandably, Republicans are seething.
When Hank Paulson demanded $700 billion to haul away the trash in the
dumpsters of JPMorgan Chase and Goldman Sachs — assuring us we could hold a
garage sale of the junk — they rebelled. They acted as the nation, [...]
Friday, November 21, 2008
Daniel Howes: Commentary
Symbols behind loan smackdown
Congress didn’t officially tell Detroit’s automakers to "drop dead" Thursday, but it came close.
Around 11 a.m., the industry lost its staunchest defender, Rep. John Dingell, D-Dearborn, to an intraparty squabble symbolizing a war between liberal Democrats tied to anti-Detroit environmental groups and more conservative members allied with [...]
Friday, November 21, 2008
Wagoner: GM ready with plan for survival
Robert Snell / The Detroit News
DETROIT — General Motors Corp. CEO Rick Wagoner declined to say Thursday whether the automaker has retained bankruptcy counsel and denied receiving assurances from U.S. Treasury Secretary Henry Paulson that GM could receive short-term funding in anticipation of a larger loan.
"I [...]
Ghosn supports govt. loans to Detroit 3
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Mark Rechtin Automotive News Europe
November 20, 2008 06:01 CET
UPDATED: 11/19/08 4:12 p.m. EST
LOS ANGELES — Renault-Nissan CEO Carlos Ghosn supports financial aid for automakers by world governments to "transform" the auto industry for growth. That includes a U.S. government bailout of the Detroit 3.
Ghosn was pessimistic regarding [...]
Precedent says Wagoner should leave
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November 20, 2008 – 12:55 pm ET
Crunch the numbers, and they’ll tell you Rick Wagoner should be out as General Motors’ CEO.
Set aside his weak performance at congressional hearings, where he appealed for government funds to keep his company afloat. Set aside the clear message from senators and representatives that GM’s [...]
Gettelfinger: ‘The UAW is at the table’
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Amy Wilson
Automotive News
November 20, 2008 – 4:17 pm ET
DETROIT — UAW President Ron Gettelfinger says he’s willing to talk more about automotive industry concessions to further the passage of emergency funding for the Detroit 3.
In a press conference today, Gettelfinger defended the UAW’s record and stressed that [...]
