Saturday, January 10, 2009 Big 3 pension gap grows Feds warn of risks in rising $41B shortfall David Shepardson / Detroit News Washington Bureau WASHINGTON – The outgoing director of the U.S. Pension Benefit Guaranty Corp. warned Friday that Detroit’s Big Three automakers face a $41 billion pension shortfall. While the companies continue to meet [...]

Ford has less than $15 billion on hand   Mulally says he misspoke in TV interview queryvar=”ford,has,less,than,$15,billion,on,hand”; Amy Wilson Automotive News | January 9, 2009 – 12:01 am EST   Ford CEO Alan Mulally   DETROIT — Ford Motor Co., the only U.S. automaker operating without federal loans, says its cash has dwindled below $15 [...]

Proposal would drop labor targets in U.S. auto bailout   queryvar=”proposal,would,drop,labor,targets,in,us,auto,bailout”; Automotive News | January 10, 2009 – 12:01 am EST   U.S. Rep. Barney Frank Photo credit: Reuters   WASHINGTON (Reuters) — Legislation proposed on Friday to tighten the sweeping U.S. corporate bailout program omitted specific targets for labor concessions that were a key [...]