A confluence of economic factors are setting the scene for a strong Memorial Day Weekend in the auto industry.» Read More
There is no joy on Wall Street, and frankly, the mood is getting worse. On Wednesday, stocks hit a 5-1/2 year low on waves of selling stemming from a meltdown in financials. The group was down nearly 12%, with some big names like Citigroup at shocking lows.
Senate negotiators sought to craft a compromise plan to bail out US auto makers, though prospects for a deal before Congress adjourns for the year still appeared remote.
Stocks plunged to a more than five-year low amid worries about the fate of the auto industry — and the economy — as a bailout for the sector grows increasingly unlikely.
If Congress turns its back on the Big Three auto makers—as many expect—investors probably won't drive the stock market off a cliff.
Stocks declined Tuesday amid worries about the fate of the auto industry as a bailout grows increasingly unlikely.
Luxury automaker Lexus will be moving ahead as planned with its USGA and USTA sponsorships for 2009. Lexus spokeswoman Nancy Hubbell tells me the company is committed to its golf and tennis promotional activities for next year.
Stocks opened mixed Tuesday as a pop in commodities and sharp drop in consumer prices briefly offset worries that Congress won't bail out auto makers.
Essentially, the US auto industry is a contractual tower of Babel and there is no coordination amongst federal, state, and local governments to structure a comprehensive deal. This is why the Republicans are skeptical about a loan/bailout.
What happens if the auto industry doesn't get a government bailout?
To say law makers are skeptical about whether it makes sense to help out Detroit would be an understatement. The Big 3 and the UAW have failed to sell Congress on why they should help the auto industry.
Stock index futures pared their losses Tuesday after a report showed consumer prices posted their biggest decline in 61 years.
Do Chinese automakers need a bailout? China's auto industry is quietly pressing Beijing for government help as it copes with a jarring slowdown, top Chinese auto executives tell the New York Times.
Consumer inflation data, more retailers' earnings, and another day of auto executives on Capitol Hill are on tap for Wednesday.
If the US auto industry is to survive, it will have to undergo a major transformation—slashing operations, focusing on fewer models, shedding dealerships and making better cars, analysts say.
Ford CEO Alan Mulally says the bankruptcy of even one of America's auto companies could bring down the entire industry.
Before flying into Washington D.C. for two days of Congressional hearings, Ford CEO Alan Mulally told me that he's looking forward to talking with U.S. Senators and explaining how Ford is transforming its business.
Hatched hastily almost two months ago, the TARP was conceived to stabilize markets and restore investor confidence, but critics argue it is now looking so amorphous and vulnerable to political trade winds, that it is has become almost a constant of uncertainty.
US cars have become the "size of houses," and no-one wants to buy them anymore, Clem Chambers, CEO of ADVFN, told CNBC Tuesday.
Investors will have an eye on Washington Tuesday as bailouts past and future are discussed on Capital Hill.
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