WASHINGTON, June 19- Forcing a combined American Airlines and US Airways Group to surrender slots at Reagan National Airport would risk fewer flights to small and medium-sized cities, US Airways CEO Doug Parker told lawmakers on Wednesday.» Read More
The automobile industry may be rolling out electric cars in attempt to save their companies, but consumers have no incentive to buy the cars if an energy policy and a gas tax are not implemented soon, said Mike Jackson, CEO of AutoNation.
European aerospace group EADS said on Tuesday it had abandoned a "significant" defense acquisition in the United States to conserve cash and prop up Airbus plane sales to crisis-hit airlines.
Top executives at Ford Motor and General Motors stressed that the fortunes of automakers will depend on a turnaround in the economy and consumer confidence in particular.
Just weeks after ending a year marked by dismal sales and a federal bailout of General Motors and Chrysler, U.S. automakers Sunday touted new products with a focus on fuel efficiency that they say will help ensure that their cars and trucks will roll off assembly lines for years to come.
Boeing, the world's second-largest airplane maker, is planning to cut about 3 percent of its work force as jetliner demand falls, hurt by the global economic downturn.
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Standard & Poor's Ratings Services and Moody's Investors Service downgraded ratings for Chrysler and Ford Motor.
Alan Mulally, CEO of Ford Motor, said he sees signs that the auto market has stabilized and hopes for an industry recovery in the second half of 2009.
As holiday travelers prepare to go over the river and through the woods for the holidays, more folks are looking for ways to avoid airline fees for checking extra baggage. This has been a boost for United Parcel Service's business.
If even one of the Big Three goes bankrupt, many of the already struggling auto suppliers will fail, said Wilbur Ross, WL Ross & Co. chairman & CEO of the company.
Chrysler is nearing the minimum level of cash it needs to run the company and will have trouble paying bills after the first of the year, according to its chief financial officer.
GMAC Financial Services, the financing arm of General Motors, said it hasn't raised enough capital to become a bank holding company and qualify for aid under the government's $700 billion bank rescue plan.
GMAC, the troubled auto and mortgage lender, warned it may not have enough capital to become a bankholding company, the latest blow to the battered auto industry.
Detroit auto makers should be rescued, but through a planned bankruptcy overseen by the federal government, according to real estate magnate Donald Trump.
Congress and the White House are hoping to reach a final deal Tuesday to provide $15 billion in loans to troubled U.S. automakers. CNBC asked market insiders and members of Congress to share their insight on a bailout for the industry.
Obama's plan to spend billions on infrastructure appears aimed at helping cash-strapped states as much as the average worker.
Suppose you were going to buy a new car. With all things being equal — like price, performance, extra features — would you be willing to purchase a car made by a manufacturer that has filed for bankruptcy protection?
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Orders to U.S. factories plunged in October by the sharpest amount in over eight years as a deepening recession caused big cutbacks in demand for steel, autos, computers and heavy machinery. Analysts expect the weakness will continue for some time.
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.