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 a White House ceremony, the [...]
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 that are in the terms [...]
Corker has ‘outstanding issues’ with UAW concessions
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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 [...]
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 a world where perspective [...]
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 and Detroit’s other automakers [...]
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 record loss of nearly [...]
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’
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NEW YORK (Reuters) — General Motors bondholders may receive around 20 percent of the company’s equity as part of a planned debt exchange designed to reduce the automaker’s crippling [...]
Amy Wilson
Automotive News | January 29, 2009 – 6:42 am EST
Ford burns through $5.5 billion in 4th quarter as losses mount
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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 said today it finished the [...]
