January 21, 2009
Chrysler-Fiat deal will face close federal scrutiny, Corker says
FREE PRESS STAFF
In an interview with the Wall Street Journal about the proposed Chrysler-Fiat deal, Sen. Bob Corker, R-Tenn., who has been a tough critic of Detroit’s automakers, suggested that the deal would be closely scrutinized by federal authorities.
Giving more loans to Chrysler is [...]
January 21, 2009
UAW expects Big 3 to meet with Obama soon
BY JEWEL GOPWANI
FREE PRESS BUSINESS WRITER
UAW President Ron Gettelfinger tonight said that U.S. President Barack Obama, who was sworn into office on Tuesday, would likely be meeting with the chief executives of the Detroit Three automakers soon.
“He knows and we know that a strong [...]
Wednesday, January 21, 2009
GM gets $5.4B loan from Treasury
Robert Snell / The Detroit News
General Motors Corp. today received a $5.4 billion loan from the U.S. Treasury Department, the second installment of up to $13.4 billion in aid the government has approved for the company to help it avoid running out of cash.
So far, GM has [...]
Chrissie Thompson
Automotive News | January 21, 2009 – 9:04 am EST
GM’s sales fall, ending claim as world’s largest automaker
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General Motors said its worldwide sales fell 10.8 percent in 2008, ending its 77-year claim as the world’s largest automaker.
GM sold 8.36 million vehicles last year, putting it about 616,000 units behind the 8.97 million [...]
David Barkholz
Automotive News | January 21, 2009 – 7:19 pm EST
UAW won’t take wage concessions
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UAW President Ron Gettelfinger
DETROIT — UAW President Ron Gettelfinger said here today that the union didn’t intend to make wage concessions as part of federal bailout provisions [...]
Wednesday, January 21, 2009
Daniel Howes: Commentary
No-cash deal may only buy Chrysler reprieve
The Italians are paying nothing — no cash, no shares in Fiat SpA, no magnanimous offers to assume debt — for a 35 percent stake in Chrysler LLC.
Tells you everything you need to know.
This is as sad as it is encouraging, in the sense [...]
Wednesday, January 21, 2009
Manny Lopez: Detroit auto show
Big 3 debuts still turn heads despite cutbacks
DETROIT — There was no look of despair on the faces of the Chrysler design team as they took pictures next to a concept sedan that surprised many among the international media when the car was unveiled last week at the [...]
Automotive News | January 20, 2009 – 2:00 pm EST
GM to spend $30 mln on Volt battery plant
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DETROIT (Reuters) — General Motors will invest $30 million in its planned U.S. plant that will build next-generation batteries for its all-electric Chevrolet Volt, the head of GM’s flagship Chevrolet brand said today.
The facility, scheduled to open [...]
GM expects to get second part of federal loan this week
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Jamie LaReau
Automotive News | January 20, 2009 – 5:24 pm EST
DETROIT — General Motors says complicated paperwork is the reason it has not received the second installment of the low-interest federal loan it was due to receive on Friday, Jan. 16.
GM expects the $5.4 [...]
