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The Big Three automakers are returning to Washington this week with business plans they hope will lead to a federal bailout. But any government help will probably come too late for thousands of dealerships.
Investors drove shares of Ford and General Motors higher on Friday ahead of the automakers' second trip to Washington. Should you hop on for the ride?
While most of us are spending a long holiday weekend relaxing or watching a cheesy new Christmas movie because your spouse loves seeing even the worst ones, this is a working weekend in Detroit. At GM, Ford, and Chrysler executives are preparing their "business plans" for Congress to review starting Tuesday.
A lot of reaction to my post from Paul Fenner, who works at an parts supplier in Detroit--including an interesting response at the bottom from someone inside GM.
From auto companies in the Midwest to Wall Street firms in New York, thousands of laid off workers will spend these holidays wondering where their next job will be. Blue collar or white collar, it doesn't matter. These people are hurting.
For the last month, the e-mails I've received about my blogs (yes, I do read every e-mail and respond to many of them) have generally fallen into the following categories:
Despite its overall troubles, General Motors appears to have enough money in its pension fund to last a decade or more, the New York Times reports.
It's not quite guilt by association, but it's close. Ford, by virtue of being one of the Big 3 and because its finances are weakened, has been lumped in with General Motors and Chrysler as an auto maker needing a bailout. Somewhere in Dearborn, Michigan Ford CEO Alan Mulally is doing a slow burn.
The Insurance Institute for Highway Safety designated 72 vehicles as winners of their top safety pick award. The award recognizes vehicles that do the best job of protecting motorists in front, side and rear crashes and have anti-rollover technology called Electronic Stability Control, or ESC.
Millions of tire parts could be lethally defective -- and most people have never even heard of the problem.
The Dow soared on Monday, capping the best two-day run since the aftermath of the 1987 stock market crash...
"As someone is who is ultimately going to be affected by the 'auto bailout', I am torn. Part of me would really like to see the financial system work and the Detroit 3 file for bankruptcy. I don't think they get it...
The foundering Detroit automakers owe more than $100 billion to their bankers and bondholders, and Wall Street is starting to wonder how much of that will be paid back, the New York Times reports.
Have you been listening to political leaders talk about what it will take for the Detroit 3 and the UAW to get Washington to sign off on a bailout for the industry? If so, you've heard several key words and phrases used to describe what the auto makers need to do.
President-elect Barack Obama's announcement of an economics team Monday may soothe some tensions in financial markets, but investors will keep their eye on the economy, credit crunch and most particularly, Citigroup.
In the past we've had some harsh words about Tim Geithner, the President of the New York Fed and now Barack Obama's choice to head the treasury department. As Jim said on tonight's show, however, we're going to keep an open mind and give Geithner a chance. Jim predicted Geithner would get tapped for Treasury, and though we had hoped for someone else, we're giving Geithner the benefit of the doubt.
In the last 'Stop Trading' segment of yet another dramatic week in U.S. and global markets, Cramer talks to Erin Burnett (together in the same room for the first time in quite a while). After trading some banter about her recent sojourn in Russia, they bring up Citigroup, Wal-Mart and several other stocks on Cramer's mind.
General Motors will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent.
House Speaker Nancy Pelosi is saying that Congress is ready to help Detroit on one huge condition. "You show us the plan (for using $25 billion to become healthier companies) and will show you the money," Pelosi said.
Events move much faster than individual corporations, unions, and governments can act. However, they all are finding ways to adjust. While I expect the learning curve to remain steep, the knowledge is getting processed and acted upon