Chrysler – News Stories About Chrysler - Page 10

EDITORIAL

Dec 12, 2008 2:36 AM CST

Dark Day for Detroit

Bailout collapse leaves state fretting over future

(Newser) - Detroit's bailout has crashed and burned, casting a pall on Michigan's future, the Detroit Free Press writes. The state knows the pain that comes with tough times in the auto industry all too well, and it's "incredible" that any American lawmaker "could want to watch these hard times...

Auto Deal Fails in Senate
Over UAW Wage Cuts

updated

Dec 11, 2008 9:56 PM CST

Auto Deal Fails in Senate Over UAW Wage Cuts

(Newser) - A bid to provide emergency aid to automakers failed in the Senate tonight, the Washington Post reports. Negotiators nearly completed an 11th-hour deal but got hung up on union wages. Republicans wanted immediate cuts, and Democrats sought to delay them until 2011. "We're not going to get to the...

As GOP Stiffens, Auto Bailout Prospects Hit the Skids

Dec 11, 2008 3:59 PM CST

As GOP Stiffens, Auto Bailout Prospects Hit the Skids

McConnell, GOP move further away from supporting Detroit aid

(Newser) - As Republican resistance to the $14 billion auto-industry bailout mounted, proponents flogged today's dismal unemployment figures to bolster their case, Politico reports. Mitch McConnell abandoned the White House, which continued to push the bill; the Senate minority leader unexpectedly said the measure "promises taxpayer money today for reforms that...

Sound the Chrysler Death Knell: Analysts

Analysis

Dec 11, 2008 8:33 AM CST

Sound the Chrysler Death Knell: Analysts

Unprofitable lines are likely to kill automaker despite bailout

(Newser) - Chrysler’s lack of profitable vehicle lines will lead to its demise, reports the Detroit Free Press, regardless of whether the feds jump in with a bailout. With bad market conditions predicted to worsen next year, the struggling automaker will downshift its production on some lines and eliminate others, prompting...

House Approves Auto Aid;
Senate Prospects Are Iffy

Dec 10, 2008 8:28 PM CST

House Approves Auto Aid; Senate Prospects Are Iffy

(Newser) - The House tonight passed a $14 billion rescue plan for GM and Chrysler, but the measure's fate in the Senate remains uncertain, the New York Times reports. The bill passed 237-170, largely along party lines. Republicans in the Senate have vowed to block or at least delay its progress because...

Bailout Would Help
German Giants, Too

ANALYSIS

Dec 10, 2008 2:20 PM CST

Bailout Would Help German Giants, Too

Detroit bankruptcies would ripple through entire industry's supply chain

(Newser) - German giants BMW and Daimler are rooting for a bailout of the Big Three, since a bankrupt Detroit would devastate sales and cripple parts-makers they all share, Bloomberg reports. The US is the top market for BMW, No. 2 for Daimler’s Mercedes-Benz. Meanwhile, Fiat, Peugeot, and Renault—which compete...

House Likely
to Vote on
Auto Bailout This Afternoon

Dec 10, 2008 12:41 PM CST

House Likely to Vote on Auto Bailout This Afternoon

Senate likely tomorrow; GOP has harsh words

(Newser) - The House is ready to vote on a $15 billion bill to rescue GM and Chrysler as early as this afternoon, the Detroit News reports. The Senate, meanwhile, is likely to vote tomorrow morning. “My understanding is it is done, but the piece of paper is not before the...

Ford Eyes Chinese
Buyer for Volvo

Dec 10, 2008 3:40 AM CST

Ford Eyes Chinese Buyer for Volvo

Ford's last European car on the block

(Newser) - Beleaguered Ford is poised to sell Volvo to a Chinese automaker, reports the Times of London. Ford and Volvo executives are in talks with Changan, Ford’s manufacturing partner in China—one of the country’s biggest car makers. Over the last two years Ford has sold Aston Martin, Jaguar...

White House, Dems Agree on $15B Auto Deal

Dec 9, 2008 9:09 PM CST

White House, Dems Agree on $15B Auto Deal

But key Republicans threaten to block measure in Senate

(Newser) - Democrats reached a tentative deal with the White House on a $15 billion rescue plan for GM and Chrysler, but unsatisfied Republicans threatened to block the deal, the Detroit Free Press reports. The measure could be presented to the House tomorrow morning and passed in the afternoon. But the Senate's...

Big 3 Bailout Plan
Goes to White House

UPDATED

Dec 8, 2008 3:38 PM CST

Big 3 Bailout Plan Goes to White House

Measure has provision for watchdog, but other questions remain

(Newser) - A draft of the multibillion-dollar bailout agreement for the Big Three automakers went from Capitol Hill to the White House this afternoon and found a chilly reception, the AP reports. The draft legislation calls for a government watchdog appointed by the Bush administration to oversee the companies' operation, but its...

Dow Up 299 on Stimulus, Autos

MARKETS

Dec 8, 2008 3:17 PM CST

Dow Up 299 on Stimulus, Autos

Industries likely to benefit from Obama building plan see gains

(Newser) - Stocks rallied today, led by automakers, which look ever likelier to get a federal bailout, and industrial firms expected to benefit from President-elect Barack Obama’s proposed public-works programs, MarketWatch reports. The Dow gained 298.76 to close at 8,934.18. The Nasdaq rose 62.43, closing at 1,...

Detroit's Sourest
Lemons

OPINION

Dec 7, 2008 8:12 PM CST

Detroit's Sourest Lemons

A look at these clunkers will leave little doubt why Motown's in such a mess

(Newser) - With Detroit automakers making headlines on Capitol Hill, the New York Daily News offers a retrospective on the Motor City’s biggest lemons:

Ford Edsel: A gas-guzzling marketing disaster that became a byword for failure.
Chevy Aveo: From 0 to 60 in 11.7 seconds.
Hummer H2: A militaristic

...

Democrats, White House Haggle Over 'Car Czar'

Dec 6, 2008 9:21 PM CST

Democrats, White House Haggle Over 'Car Czar'

(Newser) - As White House and congressional negotiators work out the details of aid to the Big 3 automakers, they've hit a stumbling block over the need for a so-called "car czar," the Washington Post reports. The White House wants to appoint a powerful trustee from within the Commerce Department...

Chrysler Hires Bankruptcy Firm

Dec 5, 2008 3:00 PM CST

Chrysler Hires Bankruptcy Firm

Privately owned automaker preparing for Chapter 11 should feds not help out

(Newser) - Chrysler has contracted a law firm to help it prepare for bankruptcy, the Wall Street Journal reports. The hiring of Jones Day suggests the automaker faces immediate failure if Congress decides to deny financial assistance to Detroit automakers. Jones Day has experience in automotive matters and has represented the United...

Auto Bailout Must Be
Paid Back: Bush

Dec 5, 2008 12:14 PM CST

Auto Bailout Must Be Paid Back: Bush

Bush supports some aid, but it must be done his way, he warns Dems

(Newser) - Using the word "recession" for the first time to describe the US economy, President Bush today demanded that Congress adopt his approach to an auto bailout and require car companies to pay back any federal aid. But he displayed skepticism about the wisdom of new aid, saying he is...

Detroit Paper to Congress: You Cannot Turn Away

editorial

Dec 4, 2008 9:29 PM CST

Detroit Paper to Congress: You Cannot Turn Away

(Newser) - In an open letter to members of Congress, the Detroit Free Press insists that the government cannot turn its back on the auto industry. If it does, "there will be economic hell to pay—not just in Detroit, but all across America, including in your state, in your district....

Big 3 Execs Finish With Senate

UPDATED

Dec 4, 2008 4:14 PM CST

Big 3 Execs Finish With Senate

CEOs to make their case to the House tomorrow

(Newser) - The CEOs of the Big Three wrapped up a six-hour session with the Senate Banking Committee during which they asked for a minimum of $34 billion in aid, the Washington Post reports. Chairman Chris Dodd vowed to draft a bill “in the next 24-48 hours" that stood a chance...

Big 3 Would Agree to Oversight if Bailed Out

UPDATED

Dec 4, 2008 1:07 PM CST

Big 3 Would Agree to Oversight if Bailed Out

CEOs admit bad management

(Newser) - Detroit’s Big Three automakers would accept federal oversight in return for financial support, the Wall Street Journal reports. The chiefs of GM, Ford, and Chrysler all said that they would accept a bailout styled after that of Chrysler in the late ‘70s, which put the firm under the...

Dodd Endorses
Big 3 Bailout
as CEOs Hit Hill Again

Dec 4, 2008 10:57 AM CST

Dodd Endorses Big 3 Bailout as CEOs Hit Hill Again

Senate Democrat enlisted to work on compromise package

(Newser) - Sen. Chris Dodd welcomed the Big Three CEOs back to the Senate Banking Committee today by declaring his support for an auto bailout, the AP reports. Chariman Dodd said inaction would be akin to playing “Russian Roulette with the economy.” He praised the automakers for making a better...

GM, Chrysler Mull 'Packaged' Bankruptcy to Get Bailout

Dec 4, 2008 9:45 AM CST

GM, Chrysler Mull 'Packaged' Bankruptcy to Get Bailout

Execs say that's 'way down the list,' but Detroit desperate for federal bailout

(Newser) - Bankruptcy is officially on the table for General Motors and Chrysler, a source tells Bloomberg. The companies may accept a pre-packaged bankruptcy, which would force the union and creditors to make concessions, in order to get government help. At least three congressmen have had their staffs explore the possibility. GM...