DETROIT, May 29- General Motors Co is recalling about 375,000 heavy duty pickup trucks equipped with passenger-side air bag inflators made by Takata Corp, the U.S. automaker said. Subaru will expand its recall of 2004 and 2005 model Impreza compact cars with Takata air bags to about 80,000 from 20,000, the unit of Japan- based Fuji Heavy Industries also said on...» Read More
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
Sales of many high-end luxury cars are bucking the trend of plummeting car sales, and their makers and industry watchers at the Los Angeles Auto Show this week are confident that they will weather the industry downturn just fine.
The stock market is now officially in no man's land. Those were the words of one trader, but he certainly isn't alone in that view. Friday promises to be no less strange as options expire in equities, and credit markets continue to show new signs of frosting over.
The Lightning Round is extended in this CNBC.com exclusive feature.
Why would the government bail out a rogue bank like AIG, but not the auto industry?
Stocks plunged Thursday as anxiety about the economy and the government's wheel-spinning on the auto bailout and TARP plagued the market throughout the day, culminating in a massive final hour selloff. The Dow ended below 7,600, a more than five-year low. The S&P closed at an 11 1/2-year low.
As Capitol Hill wrestles with a bailout of the Big Three Detroit automakers, CNBC decided to look into the Senate representation of the U.S. automotive manufacturing base. What follows is a state-by-state compilation of auto plants:
After getting creamed yesterday, stocks opened down a couple hundred points this morning in what has become a truly dismal bear-market recession scenario. There were more bad numbers this morning on leading economic indicators that are sinking, a terrible manufacturing report from the Philly Fed index, and a big spike up in jobless claims.
Stocks wobbled as key lawmakers said an auto bailout deal might have to wait until December.
So, I know I'm going a little off the Rx reservation, but as a former metro Detroiter I felt compelled to write about what's going on with the American automakers in the wake of what I see as a tremendous missed opportunity for some good PR and goodwill yesterday.
Stocks opened sharply lower Thursday as jobless claims hit a 16-year high, exacerbating anxiety in the market about the faltering auto bailout and uncertainty about the TARP plan.
It's hard to say if the Big 3 CEOs blew it on Capitol Hill, but it certainly wasn't the best couple of days. While Rick Wagoner, Alan Mulally, and Bob Nardelli all gave legitimate answers and tried their best to spell out just how important a $25 Billion loan is to their survival, their hearings did not turn out well.
Futures tumbled Thursday after jobless claims jumped to a 16-year high. This followed Wednesday's crushing selloff that saw the Dow close below 8,000 for the first time in more than five years.
Chrysler hopes to restart merger talks with General Motors if the government comes up with a bailout package for automakers, the Financial Times reported Thursday.
French carmaker PSA Peugeot Citroen plans to cut 2,700 jobs and said on Thursday that due to the financial crisis and the sector's turmoil car sale volumes in main European markets would drop by at least 10 percent in 2009 and 17 percent in the fourth quarter.
You could hear the screams on Wall Street (and perhaps a few sighs of relief that the bloodletting was over -- for today at least) when the Dow closed down 427 points -- to a level BELOW 8,000 for the first time in over five years. The market's in "critical condition," says Cramer, and likens it to a "hospital emergency room."
The Kelley Blue Book results are in. Find out which cars made the cut.