The senator says she battles for oil and gas jobs, even if that means defying President Barack Obama.» Read More
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.
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.
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.
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.
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.
As President-elect Barack Obama rushes from secret job interviews with ex-primary rivals, to briefings on the global financial crisis, to discussions of saving the U.S. auto industry, the post-election period may feel frenetic.
I want to talk about anger. Anger may just tank the TARP. It’s everywhere, from the measly pages of my blog, to the hallowed halls of Capitol Hill. The TARP money isn’t going directly to bail out the housing market, and let’s just say a lot of folks are PO’d.
For better or worse, the CEOs of GM, Ford, and Chrysler have bought into the idea that this "spinning" is the way to win over the public and law makers. They are no doubt being told that this is the way to stop people from believing Detroit brought many of these problems on themselves.
Democratic congressional leaders plan to begin work next week on a financial bailout for the troubled U.S. auto industry.
Federal regulators are expected to release a memorandum of understanding as early as Friday outlining their plans to share information about the credit default swap market, according to a person close to the situation.
So here I am on Capitol Hill covering a hearing at the House Financial Services Committee (starring Chairman Barney Frank D-MA), entitled Private Sector Cooperation with Mortgage Modifications—Ensuring That Investors, Servicers, and Lenders Provide Real Help for Troubled Homeowners.
With all the talk about bailing out Detroit's auto makers, there is one part of the equation people seem to gloss over. What will it take to get people buying cars/trucks/SUVs again?
A coalition of 200 businesses and trade groups—including some of the biggest companies in the world—is asking Congress for relief from a two-year-old federal law requiring them to more fully fund their pension plans.
The U.S. dollar rallied to a two-week high against a basket of currencies Tuesday as worries about a deteriorating global economy prompted investors to shun riskier assets and flock to the safety of the greenback.
President-elect Barack Obama is steering clear of this weekend's emergency global financial summit in Washington, a decision that gives him distance from his unpopular predecessor's policies and avoids any appearance of upstaging the current president.
The struggling auto industry was thrust into the middle of a political standoff between the White House and Democrats on Monday as President-elect Barack Obama urged President Bush in a meeting at the White House to support immediate emergency aid.
The U.S. dollar fell against the euro Monday as news of a large economic stimulus package from China made traders more willing to take on risk.
President-elect Barack Obama will not make any Cabinet announcements this week, a spokeswoman said Monday.
The tensions and their increasingly public airing provide a revealing coda to the ill-fated McCain-Palin ticket, hinting at the mounting turmoil of a campaign that was described even by many Republicans as incoherent, negative and badly run.
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