OMAHA, Neb.— Harsh winter weather slowed CSX railroad and contributed to a 14 percent drop in first-quarter profit, even as freight volume grew modestly. On Tuesday, the railroad based in Jacksonville, Fla., reported net income of $398 million, or 40 cents per share, in the quarter ending March 31. That's down from $462 million, or 45 cents per share, a year ago.» Read More
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
General Motors's new CEO, Fritz Henderson, said the automaker could file for bankruptcy before the end of the 60 days the government has given GM to restructure itself.
Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job.
The White House's auto task force thinks that GM's latest offers to bond holders and auto workers will leave the company with too much debt and want the terms reduced even further, CNBC has learned.
President Obama asserted unprecedented government control over the auto industry, rejecting turnaround plans from GM and Chrysler and raising the prospect of controlled bankruptcy.
A look at the Obama administration's plan for General Motors and Chrysler:
Wagoner's resignation comes as the company awaits president Barack Obama's reports on efforts to save GM and Chrysler.
An offer from GM is a "first shot, a starting point" for negotiations, said a GM bondholder told CNBC, but "there’s great disparity between the bondholders versus labor."
GM bondholders sent a letter to Treasury Secretary Timothy Geithner and the leaders of the auto task force Sunday expressing frustration that they have received no response from either GM or the auto task force regarding their suggestions for a near $28 billion debt exchange.
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Thursday's Dow declines make sense, Cramer says. Here's why.
British luxury carmaker Jaguar surged to the top of J.D. Power and Associates' closely watched vehicle dependability study this year, tying Buick for the No. 1 spot and dethroning Lexus for the first time since the Japanese luxury brand has been a part of the survey.
Cramer’s former punching bag seems to have made an inspired turnaround.
GM car sales for March are so far at the same pace as levels seen in January and February, Troy Clarke, president of GM North America tells CNBC.
The F-35 Joint Strike Fighter from Lockheed Martin is the most expensive defense program in history. Costs could reach $1 trillion, between buying the aircraft and supporting it for decades.
The Dow Jones Transport Index, widely believed to be a predictor of where US markets are going, shows signs of bottoming out, Roelof van den Akker from ING Wholesale Banking told CNBC.
We won't find a bottom, Cramer says, until this sector and the banks rally.
General Motors' auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
General Motors' says it gave Chief Executive Rick Wagoner compensation valued at $14.9 million last year for leading a company that lost $30.9 billion and is running on government loans.