Tagged “bailout”

  • Chrysler receives $4 billion in restructuring loans

    Late Friday evening Chrysler received its first $4 billion in government loan money from the $17.4 billion approved as an emergency measure late in December, pushing its bottom line closer to the $2.5...

  • GM delays construction of Volt, Cruze engine plant

    As Washington waffles on the auto industry bailout, General Motors has decided to put construction work on hold at the Flint, Michigan engine plant where the 1.4L turbocharged and naturally aspirated...

  • Senate rejects auto industry bailout plan

    The U.S. Senate rejected an emergency bill to provide billions of dollars of aid to the Detroit 3 carmakers late on Thursday, dashing the hopes of General Motors and Chrysler, both of which may run ou...

  • Auto loan bill could stall in Senate

    The $14 billion auto loan bill passed by the House late yesterday may stall out in the U.S. Senate under fire from Republican opposition. The GOP wants more concessions from the UAW and more concrete...

  • Sweden offers $3.4 billion package to auto industry

    The U.S. House of Representatives has just passed the $14 billion loan bill and it's now headed to the Senate, but that's not the end of the story. Lawmakers in Sweden have proposed their own aid pack...

  • Ford hoping to distance itself from Detroit rivals

    The demise of the Detroit 3 is unsurprisingly tarnishing the image of American carmakers, however Ford executives are hoping to distance themselves from their neighbors, General Motors and Chrysler, b...

  • White House voices concern over bailout plan

    The Bush administration and congressional Democrats have made a tentative agreement for a $15 billion emergency loan for the Detroit 3, but there remains concern in the White House that the carmakers...

  • Detroit 3 bailout likely to come with 'car czar'

    With the legislation for a loan package to secure the immediate futures of the Detroit 3 is reaching the 'discussion draft' stage today, talk of an overseer to administer the funds has begun. The bill...

  • Report: UAW seeking seat on GM board

    The UAW is reportedly seeking a major stake in General Motors as well as a seat on its board in return for making concessions under the carmaker’s latest restructuring proposal presented to Congress...

  • GM renews commitment to American people

    No one in the U.S. can reasonably be unaware of the current condition of the U.S. car market or its primary domestic companies. The carmakers' current pleas to the U.S. Congress for federal loan packa...

  • Report: GM and Chrysler considering bankruptcy

    General Motors Chrysler executives are reportedly considering accepting a pre-arranged bankruptcy as a final measure to gain a bailout package from the federal government, although they insist such a...