Big Three

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Auto Giants Press Congress for $25B Loan

Credit pinch, oil prices could cost thousands of jobs, execs say

(Newser) - The CEOs of US auto giants seem to have convinced some in Congress they, too, need billions in federal loans, the Detroit Free Press reports, though it’s uncertain if they’ll get the $25 billion they’re asking for. High oil and commodity prices and tightened credit threaten jobs...

In Need of Big Ideas, Ford Thinks Small

Company may move some production of small cars to US

(Newser) - Ford Motor Company will be repurposing some of its US plants to manufacture smaller, more fuel-efficient cars, the Wall Street Journal reports. As rising gas prices drive falling sales of behemoths like the F-150, insiders say the company will move toward making more of the passenger cars, like the Mondeo,...

GM May Cut More Jobs, Brands
 GM May Cut More
 Jobs, Brands 
Jul 7, 2008 9:01 AM CDT

GM May Cut More Jobs, Brands

Only Cadillac, Chevy deemed safe as automaker struggles to return to profitability

(Newser) - GM is considering slashing thousands of white collar jobs, while simultaneously selling off or discontinuing even more brands, the Wall Street Journal reports, in a furious attempt to return to profitability. For years GM has resisted shrinking its large stable of brands, even as rivals Ford and Chrysler committed to...

Pickup Sales Plummet to 10-Year Low

Trucks can't pull their weight as gas prices rev up, housing stalls

(Newser) - US pickup truck sales tumbled in March, hitting their lowest level in nearly a decade. The Big Three all reported double-digit percentage drops in sales this month—the Dodge Ram was down 26%—and large pickups represented barely more than 10% of the auto market. High gas prices added fuel...

Raptors No Match For Celts' Juggernaut

Indiana defeats surprising Orlando; Rockets win at NJ

(Newser) - The franchise with 16 NBA championships got its 16th win in 18 games tonight, blowing out Toronto 112-84, reports the Globe and Mail. Boston improved to 10-0 at home and dominated the shorthanded Raptors throughout, shooting 53% and getting the usual solid performance from Kevin Garnett with 23 points. The...

Analysts See Steep Sales Slide for Big 3 in '08

(Newser) - Automakers are predicting a mildly soft sales year for 2008, but analysts warn a “poverty effect” caused by an imploding housing market could send US light auto sales skidding as much as 9.4% to their worst year since 1993, Reuters reports. “I’m just not sure how...

GM Talks Resume With Optimism
GM Talks Resume With Optimism
Sep 17, 2007 12:42 PM CDT

GM Talks Resume With Optimism

Marathon yesterday yielded progress on financing for health-care trust

(Newser) - Talks between GM and UAW reps resumed late this morning after a 16-hour session that ran to 3am and came close to an agreement on the key issue of shifting heath-care costs to a union-run trust.  Both sides confirmed good progress, and employees are on the job today, despite...

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