Big Three

Stories 61 - 80 | << Prev   Next >>

In DC Corral, the Big 3 Dare Congress to Shoot
In DC Corral, the Big 3
Dare Congress to Shoot
OPINION
Dec 3, 2008 8:50 AM CST

In DC Corral, the Big 3 Dare Congress to Shoot

Including a breakdown of the industry's ridiculous demands

(Newser) - The Big Three, their creditors, the unions, and Congress are locked in “a standoff worthy of a spaghetti western,” writes Steven Pearlstein in the Washington Post. “But none really wants to pull the trigger.” In the end, there’s little doubt Congress will step in, but...

Saving Detroit: It's Now or Never
 Saving Detroit: 
 It's Now or Never 
OPINION
Dec 3, 2008 7:00 AM CST

Saving Detroit: It's Now or Never

Auto industry in danger of going under while lawmakers haggle over lifeline

(Newser) - If Congress is going to save America's auto industry it needs to quit the grandstanding and finger-pointing and take action right now, Tom Walsh writes in the Detroit Free Press. The Big Three have submitted their survival plans as requested, Walsh writes, and the figures show they aren't bluffing—they...

Ford Unveils Plan, Seeks $9B
 Ford Unveils Plan, Seeks $9B 
Dec 2, 2008 11:08 AM CST

Ford Unveils Plan, Seeks $9B

Promises to be profitable by 2011

(Newser) - Ford unveiled a new plan to restructure its operations today and predicted a return to profitability—or at least break-even—by 2011, the Wall Street Journal reports. The plan calls for aggressive cost cutting and an increased focus on fuel efficiency. One of the costs on the chopping block? CEO...

Big 3 CEOs Head Back to DC—This Time by Car

CEOs of America's automakers will renew plea for bailout today

(Newser) - The Big Three CEOs are heading back to Washington this week, and this time two of them will be driving, the Wall Street Journal reports—Alan Mulally in a Ford Escape hybrid, and Rick Wagoner in a Chevrolet Malibu hybrid. The CEOs will attempt Thursday to persuade Congress to extend...

No Euphemisms: Let's Nationalize GM
 No Euphemisms: 
 Let's Nationalize GM 
OPINION
Dec 2, 2008 8:18 AM CST

No Euphemisms: Let's Nationalize GM

Move would boost economy, environment

(Newser) - As Detroit extends its tin cup to DC, the government is making a lengthy list of preconditions and checking it twice. Why not keep things simple and nationalize the struggling GM? Any government loan wouldn’t be big enough, and despite all the misplaced anger directed at the Big Three,...

Once United, Big 3 Take Different Roads to Bailout

Automaker bring different bailout concerns in appeal for federal aid

(Newser) - When the automakers return to Congress this week to beg for a federal bailout, they’ll no longer be presenting one case among them. Each company will unveil its own rejuvenation plan, reports the New York Times. Ford, in best financial shape, wants only the promise of access to federal...

Put the Brakes on Car Chiefs' Pay: UAW Boss

Loans necessary to escape temporary bind, he adds

(Newser) - The nation's Big Three automakers should pledge to limit executive pay—including bonuses and severance packages—in exchange for federal money, insists the president of the United Auto Workers. Ron Gettelfinger warned that everyone is going to have to tighten his belt, including the rank-and-file, in order to save jobs....

Want to Save Detroit? End the Iraq War
Want to Save Detroit?
End the Iraq War
OPINION
Nov 26, 2008 11:30 AM CST

Want to Save Detroit? End the Iraq War

People are dying, and more importantly, money is being lost

(Newser) - You don’t hear much about the Iraq war these days, though the US death toll hit 4,205 on Monday. If human life isn't a convincing enough reason to bow out, writes Roger Simon in Politico, then here's one that "really is upsetting people these days: money."...

Slump May Doom Clean Energy Initiatives

Some nations could fall back on fossil fuel

(Newser) - Just as global warming initiatives were gaining serious momentum around the world, the financial crisis looks like it's undermining both the political will and the math that support them, the New York Times reports. With gas prices plummeting, US automakers may be scaling back investment in new technology. In Europe,...

Tough Love Only Option as Detroit Loses Friends
Tough Love Only Option as Detroit Loses Friends
OPINION
Nov 25, 2008 6:14 AM CST

Tough Love Only Option as Detroit Loses Friends

Fading support on both sides of party divide leaving Big Three in the slow lane

(Newser) - The retooling of America's political landscape has left Detroit painfully short on friends and settling for "tough love"—or no love at all—these days, Gerald F. Seib writes in the Wall Street Journal. Foreign automakers building plants in red states have become cozy with GOP lawmakers, while...

Obama Team Weighs Streamlined Auto Bankruptcy

A 'prepackaged' plan likely would include government financing, take less time

(Newser) - Barack Obama’s transition team is looking at a streamlined, “prepackaged” bankruptcy for the Big Three automakers, Bloomberg reports. In a “prepack,” the companies already would have financing lined up when they go to court, and would have to reach agreements with banks, workers, and suppliers. The...

UAW Eyes Give-Backs to Help Big 3 Bailout

Union ready to make concessions to secure industry loan

(Newser) - The United Auto Workers appears to be easing off its “no more cuts” stance. The union is negotiating a swath of concessions it hopes will convince Congress to loan money to the Big Three, starting with the elimination of its controversial jobs bank, the Detroit Free Press reports. The...

Big Three Worse Than Somali Pirates
 Big Three Worse 
 Than Somali Pirates 
OPINION
Nov 20, 2008 1:37 PM CST

Big Three Worse Than Somali Pirates

Extortion done right in Detroit

(Newser) - Detroit’s pleas for a bailout sound an awful lot like blackmail to Bloomberg’s Mark Gilbert. Let GM fail, CEO Rick Wagoner told Congress, and the “level of economic devastation would far exceed” what Detroit is asking for. In other words, give us what we want, or the...

What a Detroit Bankruptcy + Bailout Should Look Like

And what the bailout might look like

(Newser) - Barack Obama isn’t in the Oval Office yet, but he’s already passed his first presidential test “with flying colors,” in Steven Pearlstein’s book. With Democrats ready to roll over for the not-so-big three, and Republicans stonewalling, Obama broke the stalemate with just the right bankruptcy-then-bailout....

Foreign Automakers Could Fill Detroit Vacuum

But gov't risks big job losses if Big Three fail

(Newser) - If Detroit’s “Big Three” do collapse, foreign-owned automakers would be able to pick up the slack, industry experts tell the New York Times. These foreign giants have a big enough US presence to swiftly take over the industry and its supplier network, but the transition would likely be...

Let's Divert Green $$$ to Aid Autos: White House

Perino slams Dem plan to use bailout money

(Newser) - The White House urged Congress today to prop up the Big Three automakers with $25 billion in federal funding—and nix environmental provisions attached to that money, the Wall Street Journal reports. Approved last year, the dollars were designated to help carmakers convert to more fuel-efficient vehicles. Now they can...

Bailout? Detroit Needs a Brain
 Bailout? Detroit 
 Needs a Brain 
OPINION
Nov 12, 2008 10:28 AM CST

Bailout? Detroit Needs a Brain

US auto industry needs to re-learn how to innovate; Mich. lawmakers not immune, either

(Newser) - The appalling prospect of a $25 billion bailout for Detroit automakers—“ an industry that became brain dead”—has Thomas Friedman, writing in the New York Times, outraged. He blasts “a very un-innovative business culture, visionless management, and overly generous labor contracts” for the mess, and heaps blame...

Detroit Needs Green Deal or No Deal
 Detroit Needs 
 Green Deal 
 or No Deal 
OPINION
Nov 12, 2008 9:01 AM CST

Detroit Needs Green Deal or No Deal

If we bail out the auto companies, let's do it on our terms

(Newser) - If we’re going to bail out the auto industry, writes Joseph Romm in Salon, let’s do it right. Detroit’s Big Three have spent years fighting tooth and nail against the very innovations that could save them: higher fuel efficiency and hybrid-electric cars. Detroit has “been suicidally...

Detroit Bailout Highlights an Industry That's Moved On

'Big Three' sink while other carmakers swim

(Newser) - The government seems poised to bail out the auto industry, but there are two auto industries, writes Joseph White in the Wall Street Journal. There’s the unionized, drowning Big Three, stuck with ancient product strategies and huge retiree health obligations, and the non-unionized, mostly healthy foreign-owned manufacturers. This second...

Congress' Big Auto Bailout Mired in Red Tape

Money coming later rather than sooner

(Newser) - Detroit's $25 billion loan is sitting in Washington, the Washington Post reports, and may take more than a year to distribute, despite the auto industry's increasing desperation for the cash. The Energy Department, which was tasked with doling out the money, says various legal and administrative requirements will drag the...

Stories 61 - 80 | << Prev   Next >>