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AUTO-BAILOUT

The Wire

Who will call the shots at last-chance GM?

The 25-year company veteran who inherits the fate of General Motors is known as someone quick to act. It remains to be seen, though, how much he'll be allowed to do.

Analysis: Labor-green rift clouds auto aid chances

Watch out for family fights, Mr. President-elect. Though Democrats will control both the new Congress and White House, the battle over a multibillion-dollar auto industry bailout already is pitting two major party constituencies against each other: big labor and environmentalists.

Autoworker chief pleads for government aid

The head of the United Auto Workers made a public plea Sunday for government help for U.S. carmakers as the Big Three put the final touches on stabilization plans to submit to Congress.

Showdown looming in Congress over automaker rescue

Hardline opponents of an auto industry bailout branded the industry a "dinosaur" whose "day of reckoning" is near, while Democrats pledged Sunday to do their best to get Detroit a slice of the $700 billion Wall Street rescue in this week's lame-duck session of Congress.

Senate will debate $25 billion auto bill Monday

Struggling to keep alive a government bailout of the troubled auto industry, key supporters offered concessions Friday — including reducing its $25 billion size. The White House came out firmly against a Democratic plan to carve it out of a $700 billion rescue package for financial companies.

Big Three carmakers line up for another bailout

All aboard, there may be another bailout train leaving the station on Capitol Hill. Talk of a $25 billion emergency loan package for the Big Three carmakers that could see a vote in a postelection session of Congress next week has a wave of business lobbyists clamoring for action — and a slice of the pie.

Senate will debate $25 billion auto bill Monday

A bill to rescue the troubled auto industry with $25 billion in emergency loans inched forward Friday when Majority Leader Harry Reid said the Senate will begin debate Monday and hold a test vote two days later. Supporters scrambled for votes to break an expected filibuster.

The Vine

How to fix the economy

I can not tell a lie - I got this in an email. It does make you think This is from an article in the St. Petersburg Times Newspaper on Sunday. Dear Mr. President,

"Dude, Where's Our Cars?" Obama's 31 Yr. Old GM Czar
Source: Weapons Of Mass Distraction blog

This whole situation is even more bizarre than we thought. It's like the United States government is caught inside the plot of The Hudsucker Proxy — a patsy has been put in charge to deliberately ruin the country so investors can buy it up for pennies on the dollar.

Congress Needs to Intervene on Auto Bailout
Source: The Nation

The Chrysler and General Motors restructuring processes, which will result in an unprecedented number of auto plant closings in the United States, the layoffs of tens of thousands of auto workers and of an estimated 100,000 employees of auto dealerships has the potential to deliv …

Auto Bailout Blues: Spin, Lies and Layoffs
Source: The Nation

The madness of the approach adopted by the Johnson and Nixon administrations to war in Vietnam was summed up by the American major who said after the destruction of the Vietnamese village of Ben Tre: "It became necessary to destroy the village in order to save it." The madness o …

GM, union clash as bankruptcy looms for auto giant
Source: Yahoo! News

"The UAW strongly objects to GM's restructuring plan because it essentially means that GM will be shifting more of its manufacturing footprint from the US to Mexico, Korea, Japan and China," UAW legislative director Alan Reuther wrote in a letter to Congress.

Chrysler Bankruptcy Plan Is Announced
Source: The New York Times

President Obama forced Chrysler into federal bankruptcy protection on Thursday so it could pursue a lifesaving alliance with the Italian automaker Fiat, in yet another extraordinary intervention into private industry by the federal government.

GM CEO Says Bankruptcy 'Probable' - washingtonpost.com
Source: The Washington Post

General Motors chief executive Fritz Henderson said the automaker still intends to restructure its business outside of bankruptcy, but a filing is still "probable" given all the concessions it must achieve with such a short deadline.

Look who wants to protect a GM plant
Source: The Detroit Free Press

Sen. Bob Corker, R-Tenn., was a vocal critic of the domestic auto industry bailout. He wanted GM to declare bankruptcy and force UAW wage cuts, stating the company needed to restructure to remain viable.

Government Motors (GM) Unveils its First Model!
Source: Pajamas Media

Frank J. Fleming of IMAO.us tells us about the first new model since the Government takeover of GM

No Nominee Yet for Secretary of Rustproofing
Source: The Washington Post

As the briefing went on, Gibbs tried to close the deal. "You know, Chevy Malibu was the 2008 Motor Trend Car of the Year or North American Car of the Year," he repeated.

Obama Says Automakers Not Moving 'Fast Enough' - washingtonpost.com
Source: The Washington Post

President Obama announced today that his administration will withhold additional federal aid to General Motors and Chrysler unless the ailing U.S.

Obama Denies Bailout Funds for U.S. Automakers, Sets Restructure Deadline
Source: FOXNews.com

Neither GM nor Chrysler submitted acceptable plans to receive more U.S. government bailout money, the White House says, setting the stage for a crisis in Detroit.

GM Asks For 12 Billion More
Source: The New York Times

DETROIT — General Motors told the federal government Tuesday that it needed to increase its loan request to $30 billion, $12 billion more than it had initially sought in order to avoid a bankruptcy filing.

Toyota Hits The Brakes
Source: Forbes

With demand falling, the automaker will halt production at its Japanese factories for 11 days.

Meltdown 101: Foreign automakers struggle too
Source: Google

Here are some questions and answers about the state of carmakers outside the U.S. Q: Which foreign automakers are hurting? A: Take your pick.

Toyota, Honda lead declines in Dec. auto sales
Source: Google

Toyota and Honda's U.S. sales fell more than their U.S.

Worst Sales Performance of Any Car: Toyota Prius
Source: TreeHugger

one cannot, as so many of the commenters in my earlier post did, just say that GM was stupid and Toyota was smart, and that the American car industry should roll over and die and make room for those innovative Japanese and German car makers. Look at the numbers.

Sharp fall in hybrid vehicles sales as US tightens belt
Source: FT.com

Americans' appetite for hybrid cars is evaporating as tumbling fuel prices and tighter household budgets trump environmental concerns.

Viewpoint: Bailing out yesterday's industry, or investing in tomorrow's?
Source: The Baltimore Sun

Now that all the public hand-wringing about whether or how to bail out the U.S.

Toyota Expects Its First Loss in 70 Years
Source: The New York Times

TOKYO — Toyota Motor, the Japanese auto giant, said Monday that it expected its first operating loss in 70 years, underscoring how the economic crisis was spreading across the global auto industry.

The Republican Party's dangerous imbalance: Congressional GOP risks creating a vicious cycle keeping them the minority
Source: msnbc.com

Congressional Republicans' resounding vote against the auto bailout this month captured a dynamic that could drive much of the party's response to Barack Obama and compound the threat to the GOP in the Northeast, the Midwest, and other regions where it is already retreating.

Canada offers $3.29 billion in loans to Big Three - The News-Herald Business : Breaking news coverage for Northern Ohio
Source: news-herald.com

The federal and Ontario governments have announced a 4 billion Canadian dollars ($3.29 billion) bailout package for the Canadian subsidiaries of Detroit's Big Three automakers.

Bush Gives Emergency Loans to Automakers
Source: The New York Times

President Bush announced $13.4 billion in emergency loans on Friday to prevent the collapse of General Motors and Chrysler, and said another $4 billion would be available for the hobbled automakers in February.

Example of Detroit's "Forward Thinking"
Source: Forbes

The name of the vehicle will be the Marsupial.

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