Tagged “loans”

  • GM starts seeking concessions from UAW, bondholders

    The UAW's near-stranglehold on the domestic auto industry has taken a lot of the blame for the current condition of the carmakers. Whether it's a fair conclusion or not, however, for companies like Ge...

  • 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, GMAC rev up incentives thanks to Treasury funds

    Yesterday the U.S. Treasury announced it would be backing GMAC with $6 billion in total funding, and today both the car finance company and General Motors, which gets 85% of its customer loans from GM...

  • GM changes bylaws to improve board flexibility

    The board of directors at General Motors has been actively involved in steering the company through regular board meetings and weekly conference calls, but the situations surrounding the bridge loans...

  • Canada approves $3.3 billion auto industry bailout

    After conditionally approving an bailout package for the Detroit 3 carmakers that was dependent on the U.S. government approving its own aid fund, Canada’s lawmakers have agreed to offer up to CAD$4...

  • 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...

  • Honda, GM announce massive Q1 2009 production cuts

    The car market continues to worsen even as the auto loan bill flounders in Washington. Honda and General Motors today have announced huge production cuts for the first quarter of 2009, totaling over o...

  • 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...

  • 2009: The beginning of the Detroit 2?

    Detroit's major auto manufacturers could soon find that three certainly is a crowd when it comes to the world automotive market. CSM Worldwide is predicting 2009 to be the worst year in U.S. automotiv...

  • 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...

  • 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...