Having taken the helm of the National Highway Traffic Safety Administration in January, Mark Rosekind has wasted no time in forcing reluctant companies into recalling millions of defective vehicles. In the past week alone, the agency announced the biggest recall in history, involving nearly 34 million vehicles with potentially deadly Takata Corp air bags.» Read More
After eight decades the Pontiac brand is about to die or be sold by GM. The auto maker will announce the end of the iconic American brand early next week. Pontiac is the latest casualty of the radical down-sizing of General Motors.
Seldom has a loss of almost $2 Billion ever looked so good. Then again, when you are Ford and you continually turn in better than expected results, losing a couple billion is further proof business is turning around.
It's not just the TARP wife. The recession has Americans from coast to coast redefining their definition of luxury, according to a new Pew Research survey. One of the biggest casualties: The microwave.
The Treasury Department is preparing a Chapter 11 bankruptcy filing for Chrysler that could come as soon as next week, people with direct knowledge of the action said Thursday.
Negotiations over the fate of Chrysler continue between the Treasury department and the banks that hold $6.9 billion of Chrysler's debt.
So-called alt energy-powered vehicles, both production or concept models, were on display at the recent New Yok Auto Show. Here's a sampling.
U.S. industrywide retail auto sales declined about 33 percent in the first 16 days of April compared to a year ago, but the market shows some signs of stabilizing, according to J.D. Power and Associates.
The Treasury Department has increased its offer to repay Chrysler’s senior lenders as part of continuing talks on how to reduce the company’s debt, a person who had been briefed on the talks said on Wednesday.
With one week left before Chrysler faces the very real prospect of filing for Chapter 11 reorganization, and potentially a Chapter 7 liquidation, GM is acting like a company already in bankruptcy. In other words, the end game is almost here. As we're seeing now, it's messy and everyone involved will be feeling the pain.
The government is increasingly likely to convert a $13.4 billion loan to GM into equity, giving taxpayers a big stake in the struggling auto maker, sources told CNBC.
Instead of waiting for houses to become abandoned and then pulling them down, local leaders are talking about demolishing entire neighborhoods, the NYT reports.
As the world grapples with headlines about bailouts, bankruptcies and pirates, a lone dove has emerged on YouTube to save the global economy.
In recessions investors tend to return to safe havens like government bonds, the US dollar, gold and consumer staple and drug stocks and cash flows out of what are considered more discretionary sectors.
For Chrysler President Jim Press, trying to convince people his company is not going bankrupt is an uphill battle.
When I was first asked to moderate a question and answer session with California Governor Arnold Schwarzenegger, I immediately thought, "What a delicious opportunity to talk to a man who has told Detroit to 'get off its butt' and start building the next generation of cars and trucks people want."
Stocks closed higher despite some selling in the final half hour of trading, giving the market its sixth straight weekly gain and its longest weekly winning streak since 2007.
My post about car shopping touched a nerve — my inbox was flooded. Of course, this was one couple's experience, so we asked readers to share their experiences and thoughts on the post. Here's what they had to say.
Stocks got a quick pop Friday from a rebound in consumer sentiment to its highest level since September. But the bounce quickly slowed t o a dribble as earnings worries nagged at the market.
Today on the company conference call updating its restructuring, I asked GM CEO Fritz Henderson is the company will go beyond the number of plants it laid out for closure when updating the Federal Government on February 17th.
Any hope of a high-speed bankruptcy by General Motors faces a serious obstacle: a judge — not the Obama administration, not G.M. management and not the company’s creditors — would reign in court.