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U.S. Lays Down Terms for Auto BailoutThe White House asked Rick Wagoner to resign and instructed Chrysler to form a partnership with Fiat as a condition for new aid to be detailed Monday. ... |
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General Motors CEO quits amid bailout dealGeneral Motors CEO Rick Wagoner announced his resignation early Monday -- the latest change for the troubled automaker. ... |
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Chrysler, CAW fail to reach deal; Rumors of Canadian pulloutChrysler and the Canadian Auto Workers Union have failed to reach an agreement on wage and pension concessions, following several days of negotiations. In a statement to the press, Chrysler cited “significant” unresolved “issues” with the union. With a deadline of March 31... |
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GM and Chrysler denied extra fundsThe Obama administration has refused to give fresh bailout money to General Motors and Chrysler, telling the carmakers to come up with new plans or risk insolvency ... |
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Bailout Watch 469: PTFOA Creates Motown WPAStudents of history may recall the Works Progress Administration (WPA). Born in the heart of the Depression, 1935, the agency created some three million federal jobs, sucked-up $11b worth of taxpayer money (back when $11b was a lot of money) and built hundreds of roads, bridges and buildings That... |
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Bailout Watch 468: PTFOA Gives Chrysler 30 Days to Marry FiatThe Presidential Task Force on Automobiles (PTFOA) has given Chrysler 30 days to tie-up with Fiat or it will recall federal loans and throw the company into bankruptcy. If they DO do the deal, they get a $6b “loan.” I’m no corporate negotiator, but the move seems to give all the... |
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