SAO PAULO, Feb 27- The leader of a truth commission investigating abuses during Brazil's 1964-85 military dictatorship lambasted German automaker Volkswagen AG at a hearing on Friday for providing what he called "unsatisfactory" testimony regarding its alleged ties with the regime. In a contentious, nearly three hour-long session, Sao Paulo state...» Read More
Chrysler Vice Chairman Jim Press reiterated the need for government aid to help support the auto industry as he travels to hearings in Washington, D.C.
At his news conference this morning, where he introduced New Mexico Gov. Bill Richardson as Commerce-secretary designate, President-elect Obama refused to play his hand on the Detroit/GM bailout story. That tells me he’s aware that the country is getting fed up with the thought of bailout nation.
The stock market was far off its morning lows, coming close to turning positive, as investors shook off a handful of weak economic reports and snapped up biotech shares and other defensive plays.
The current problems facing the automotive industry are a result of consumer fear, not the Big Three U.S. automakers, according to John Bergstrom, CEO of Bergstrom Automotive, one of America’s most powerful car dealership groups.
Chrysler's plan may be the most troubling, largely because it shows how much money the company needs right away. Chrysler wants $7 Billion by the end of the year. Chrysler's plan also talks about the "synergies" that would be derived from Chrysler being consolidated with another auto maker.
Stocks were set to give back some of their sharp gains from Tuesday's session but were off their morning lows after data showed a sharp increase in mortgage applications last week.
U.S. light vehicle sales at General Motors and Chrysler plunged more than 40 percent in November, while Ford's sales dropped 31 percent, battered by an economic storm that has sent consumer demand for new vehicles to lows not seen in decades.
A number of small companies are angling for a piece of a $25 billion auto industry loan program, set up by the Department of Energy to quicken the development of fuel-efficient cars.
The Big Three will become two, Detroit will need more help from the government, SUVs will enjoy a modest rebound and electric cars will fire up the industry.
This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.
Today is the day we see in clear detail how bad things are for Detroit's auto maker, and what they plan to do to fix the mess. It's a mix of bad news and hopeful promises.
For the Big Three automakers to win over Washington lawmakers in their bid for federal aid, they will have to address a critical question in the business plans they give to Congress on Tuesday.
Washington’s been a lot harder on Wall Street than you might think. Here’s why the Citi rescue is a signal to buy.
In this Web Extra the traders reveal how they're playing Sears, Beazer Homes, the automakers and more.
Call this the start of the Big 3 becoming the smaller 3. Starting tomorrow and playing out over the course of the next week Detroit's auto makers will be telling Congress how they plan to get back in the black.
The Detroit automakers have been lumped together for decades as the Big Three, but this week their agendas are diverging as they contemplate futures as drastically different car companies, the New York Times reports.
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.