Nov28
Car dealers, parts makers, union leaders and others hoping to convince lawmakers that the industry is an indispensable piece of the economy are planning a caravan to Washington in early December. The 525-mile drive will occur as auto executives make a second plea for federal assistance. The caravan participants are not asking for money directly, but are among those who would suffer if the industry collapsed.
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Nov26
Spencer Platt, Getty ImagesTrucks from Ford's 2009 F-150 series are parked in a lot in Detroit last week. Analysts said yesterday that any emergency cash for Detroit's Big Three automakers would just be a lifeline until Barack ...
The tens of billions of U. S. taxpayer dollars being asked for by Detroit could be the tip of the iceberg, analysts at JPMorgan said yesterday.
With Congress preparing to hand struggling automakers General Motors Corp., Ford Motor Co. and Chrysler LL...
Nov25
Carbon Motors Corporation has leaped forward and designed the first purpose built police cruiser that addresses all the needs of the police officer. “The world’s first purpose-built law enforcement patrol vehicle, designed by law enforcement, for law enforcement.” Currently over 800,000 law enforcement first responders use retrofitted Crown Victorias, Impalas, Dodge Chargers, light and heavy trucks ect.. While our nation’s other first responders a...
Starting next week the Federal Reserve will buy over $100 Billion in bad dept from Fannie Mae and Freddie Mac including the 12 Federal Home Loan Banks in an aggressive bidding process through the central bank's primary securities brokers. Federal Reserve will also contract asset administrators to buy over $500 billion in mortgage-backed securities issued by Freddie Mac, Fannie Mae, and Ginnie Mae. Unlike Freddie Mac, Fannie Mae, Ginnie Mae has always been under ent controlRead More...
Congress took a sensible step in telling Detroit to come back with a plan before lawmakers consider an auto-industry bailout. Now that the heat is temporarily off, Congress should go the full monty and shut the door.
This may seem callous, and also brutally unfair in the wake of all the help that has been doled out to Wall Street. It may also look self-destructive
It was a dose of tough love that President-elect Barack Obama offered the American auto industry Monday. America shouldn't let the auto makers "vanish," he said at a news conference. But the auto companies should get help, he added, only when they show a better plan for pulling out of their downward slide.
Nov24
NEW YORK (Associated Press) - After being skewered by Congress and lampooned on NBC's "Saturday Night Live," the CEOs of Detroit's three automakers may end up making their return trip to Washington by car as they seek a federal bailout.
The Detroit area's auto industry, whose livelihood depends on the health of Chrysler LLC, Ford Motor Co. and General Motors Corp. spent the weekend e-mailing and discussing how to set up a giant car caravan to seek help from Congress.
Auto executive specifics about how they plan to spend taxpayers' money and crimp their highflying lifestyles if they hope to get aid from the federal government, congressional leaders and key members of the incoming Obama administration said Sunday.
Nov21
JD Power and Associates Rakes Jaguar the highest buyer’s satisfaction award moving up from No. 3 last year in the 2007 SSI rankings. Jaguar held the number one position for the three consecutive years prior to last year. Rounding off the top 5 were HUMMER, Lexus, Cadillac and Mercedes. Low in the study Chrysler LLC brands Dodge and Jeep, Mazda, Nissan and Mitsubishi, with Honda, Toyota, Scion, Subaru, Suzuki and Hyundai also coming in under the industry average.
With two of Detroit's Big Three automakers teetering on the brink of collapse, congressional leaders yesterday refused to advance a proposal for a federal bailout, saying auto industry executives had failed to persuade lawmakers that they would make good use of the money.
Instead, House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry M. Reid (D-Nev.) ordered General Motors, Chrysler and Ford to submit detailed proposals by Dec. 2 explaining how an emergency infusion o...