January 31, 2009 Obama Moves to Reverse Bush’s Labor Policies By DAVID STOUT WASHINGTON — On yet another morning of grim economic news, President Obama sought to further distance himself from his predecessor on Friday as he announced steps that he said would strengthen organized labor and improve the lot of middle-class Americans. At [...]
January 30, 2009 Chrysler says it needs $3B more in loans That will allow Fiat deal to close BY JEWEL GOPWANI FREE PRESS BUSINESS WRITER Chrysler LLC confirmed Thursday it needs an additional $3 billion in loans from the federal government to close its deal with Fiat SpA. The deal also requires concessions from stakeholders [...]
Corker has ‘outstanding issues’ with UAW concessions queryvar=”corker,has,‘outstanding,issues’,with,uaw,concessions”; David Barkholz Automotive News | January 30, 2009 – 4:18 pm EST U.S. Senator Bob Corker, R-Tenn. Sen. Bob Corker of Tennessee is not yet convinced that the UAW has given up enough to support the federal loans offered to General Motors and [...]
Friday, January 30, 2009 Daniel Howes: Commentary Future uncertain for Ford In what alternative reality could Ford Motor Co. deliver the largest annual loss in its 105-year history — $14.6 billion — burn $19.5 billion in cash in all of 2008, draw down its revolving credit line and get qualified applause from Wall Street? In [...]
Friday, January 30, 2009 Superbowl XLIII Detroit’s Big 3 sit on Superbowl sidelines Louis Aguilar / The Detroit News For years, General Motors Corp. has been one of the biggest sponsors of the National Football League. But during Super Bowl XLIII this Sunday, Audi, Toyota and Hyundai will air splashy, multi-million dollar ads while GM [...]
Friday, January 30, 2009 Ford: Feds can do more to lift sales After dropping record $14.6B, carmaker calls on government to offer new incentives. Bryce G. Hoffman / The Detroit News Ford Motor Co. is calling on Washington to do more to stimulate the economy and get consumers back into its showrooms, after posting a [...]
Automotive News | January 29, 2009 – 11:56 am EST Report: GM bondholders may get 20% of company GM says it is ‘working with the bondholders committee now’ queryvar=”report:,gm,bondholders,may,get,20%,of,company”; NEW YORK (Reuters) — General Motors bondholders may receive around 20 percent of the company’s equity as part of a planned debt exchange [...]
Amy Wilson Automotive News | January 29, 2009 – 6:42 am EST Ford burns through $5.5 billion in 4th quarter as losses mount queryvar=”ford,burns,through,$55,billion,in,4th,quarter,as,losses,mount”; DETROIT — Ford Motor Co., scrambling to survive without federal aid, burned through $5.5 billion in cash during the final three months of 2008 as losses mounted. Ford [...]
