GMAC expands auto lending following government aid GM announces new round of incentives to get customers ‘back in the game’ queryvar=”gmac,expands,auto,lending,following,government,aid”; Automotive News | December 30, 2008 – 9:00 am EST WASHINGTON (Reuters) — GMAC today said it will immediately begin providing auto financing for more U.S. consumers, a day after agreeing [...]
Treasury extends $6 billion in aid to GMAC, GM queryvar=”treasury,extends,$6,billion,in,aid,to,gmac,gm”; Harry Stoffer Automotive News | December 29, 2008 – 9:06 pm EST WASHINGTON — The U.S. Treasury Department late today said it will commit $6 billion of taxpayer money to GMAC LLC “as part of a broader program to assist the domestic [...]
December 29, 2008 Rescue funds for General Motors, Chrysler delayed By Justin Hyde Free Press Washington Staff WASHINGTON – General Motors Corp. and Chrysler LLC will have to wait until at least Tuesday to receive the first slice of a $17.4-billion rescue from the federal government. Under the terms of the deal reached 10 days [...]
Monday, December 29, 2008 GMAC says it likely raised enough capital to meet Fed terms for bailout money Robert Snell / The Detroit News DETROIT — GMAC LLC, is still compiling results from a debt exchange with bondholders but the company believes it has raised enough capital to satisfy the federal government, a spokeswoman said [...]
Government readies first $8 billion for GM, Chrysler queryvar=”government,readies,first,$8,billion,for,gm,chrysler”; Harry Stoffer Automotive News | December 29, 2008 – 2:23 pm EST WASHINGTON — General Motors, Chrysler LLC and the government today were making final arrangements to transfer the first installments of federal emergency loans to the automakers. “We’re making good progress finalizing [...]
Ford’s success tops industry wish list The headline jumped off the page: "Ford Fusion is hybrid champ." Now that’s what we’re talking about, Detroit, a new model coming from the Motor City that potentially outperforms, outshines and out-greens the foreign-owned competition — and stands as an incontrovertible rebuke to the Detroit-can’t-do-it crowd in Congress and [...]
Saturday, December 27, 2008 Auto woes rock black work force Louis Aguilar / The Detroit News No community is getting hit harder than African-Americans by the loss of union auto jobs. The dwindling number of high-paying factory jobs is chipping away at the middle-class lifestyle that auto factory work has provided for generations of black [...]
Automotive News | December 26, 2008 – 1:00 pm EST GM sues bankrupt supplier Cadence over parts Parts interruption would delay launch of Camaro, GM says queryvar=”gm,sues,bankrupt,supplier,cadence,over,parts”; NEW YORK (Reuters) — General Motors has filed a lawsuit against a bankrupt auto-parts supplier, saying it is holding necessary equipment "hostage" which could [...]
GM shares up, GMAC may be eyeing $6 bln loans queryvar=”gm,shares,up,gmac,may,be,eyeing,$6,bln,loans”; Automotive News | December 26, 2008 – 4:15 pm EST DETROIT (Reuters) — Shares of General Motors jumped today after its auto finance affiliate GMAC won access to government lending programs, while analysts estimated GMAC might be seeking loans of more [...]
December 24, 2008 Ohio GM plant’s shutdown an emotional scene ASSOCIATED PRESS MORAINE, Ohio — Autoworkers slipped in hugs, photos and goodbyes during breaks at a General Motors Corp. factory that shut down Tuesday after 27 years of pumping out cars, SUVs and trucks. It was an emotional day for the factory’s 1,080 workers, who [...]
Tuesday, December 23, 2008 Daniel Howes Commentary: America cares little about fate of Detroit’s Big Three Forget the politicians and their calculated "rescue" of Detroit’s automakers. They won’t be the ones who save, or kill, the Big Three where it matters most — in the marketplace. It’ll be the real people, would-be customers who decide [...]
Wednesday, December 24, 2008 John McCormick Commentary: Maybe it’s time to turn the tables on the South The unnecessarily long and painful path toward the approval of government bridging loans for General Motors Corp. and Chrysler LLC has exposed a new threat to Detroit. It’s one that Michigan consumers may want to keep in mind [...]
Wednesday, December 24, 2008 ‘A pretty good run:’ After 85 years, it’s over for Wisconsin General Motor plant Ohio factory also closes Dinesh Ramde / Associated Press JANESVILLE, Wis . — As the last black Tahoe rolled off the production line at General Motors Corp.’s oldest assembly plant here Tuesday, Karen Green promised herself she [...]
Nardelli: Chrysler turnaround plan ‘achievable’ queryvar=”nardelli:,chrysler,turnaround,plan,achievable”; Automotive News | December 24, 2008 – 12:01 am EST Chrysler CEO Bob Nardelli DETROIT (Reuters) — Chrysler LLC’s plan to return to profitability is "reasonable and achievable," CEO Bob Nardelli told the company’s employees in a memo. Chrysler, which won a $4 billion federal rescue [...]
Richard Truett Automotive News | December 23, 2008 – 1:10 pm EST New Ford hybrid sedans post 41 mpg in the city queryvar=”new,ford,hybrid,sedans,post,41,mpg,in,the,city”; ENLARGE The 2010 Ford Fusion hybrid sedan. Ford Motor Co. said today that its Ford Fusion and Mercury Milan hybrid sedans have been certified by the EPA at [...]
