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 government funding requirements, the situation [...]

Ford has less than $15 billion on hand
 
Mulally says he misspoke in TV interview
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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 [...]

Proposal would drop labor targets in U.S. auto bailout
 

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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 [...]