WASHINGTON, Jan 30- Government buildings and federal highways planned in the future will be constructed safe distances away from flood areas that are expected to worsen due to climate change, the White House announced on Friday. More than $1 trillion of property and structures are at risk of inundation from sea level rise of two feet above current sea level, the...» Read More
This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.
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.
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 Lightning Round is extended in this CNBC.com exclusive feature.
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:
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.
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.
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.
Mexico's economy is struggling even more than ours, as 40 percent of the country's GDP is based on oil, and prices are plummeting (I saw gas in LA this week for only $2.25! Ay carumba!).
United Auto Workers President Ron Gettelfinger said it is critical the Big 3 receive a financial aid package from Congress to avoid one or more of Detroit's auto makers from sliding into a Chapter 7 bankruptcy.
Cramer makes the call on viewers' favorite stocks.
Democratic congressional leaders plan to begin work next week on a financial bailout for the troubled U.S. auto industry.
The push for an auto industry bailout gained momentum as House Speaker Nancy Pelosi said she would bring the House back next week to approve "emergency and limited financial assistance" for the battered industry.
The automotive industry is pushing for an emergency government loan of at least $25 billion to fend off a cash crunch. This so-called bridge loan would be in addition to a $25 billion loan Congress approved in September for the industry. CNBC asked the insiders to weigh in.
General Motors' extremely distressed debt is an attractive investment as the automaker has several options to improve its liquidity and survive the economic downturn, according to credit analysts at JPMorgan.
The U.S. auto industry's best chance for $25 billion in immediate government help may come next week when Congress returns.
General Motors will likely fall below its minimum cash needs of $11 billion to $14 billion in the first quarter of 2009 if the troubled automaker does not receive additional funding, said an analyst at Barclays Capital.
Under normal circumstances, companies try to put the best face on bad news. But we are not in normal circumstances.
General Motors is not considering bankruptcy despite a sharp downturn in sales and cash position, but the industry needs fast action by the government to prevent a "devastating" impact on the economy, GM Rick Wagoner said on CNBC.
Ford Motor's need for government assistance will depend on how rapidly the economy decelerates, but the company is not in immediate need of immediate help, CEO Alan Mulally told CNBC.