Mark Dayton unveiled a plan Monday that would resurface or replace 2,200 miles of roadway, repair 330 bridges and boost funding for local infrastructure projects— but would come at a noticeable cost to taxpayers. His proposal would add a new 6.5 percent tax on gas at the wholesale level and hike license tab fees, with a separate sales tax increase in the Twin...» Read More
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.
Democrats won a number of key seats in building a larger and more formidable majority in Congress.
The German government on Wednesday approved a stimulus package aimed at helping Europe's biggest economy weather the financial crisis, with measures including tax breaks on new cars and credit assistance for companies.
The obvious and easy first move for President-Elect Barack Obama is to put some money into the automobile industry to save a large number of jobs, financier Wilbur Ross said Wednesday.
Nissan Motor and Suzuki Motor capped a turbulent week for automakers everywhere with their own profit warnings on Friday, as executives predicted a rough ride for the foreseeable future.
Warren Buffett's Berkshire Hathaway has added 825,000 more shares to its Burlington Northern Santa Fe stake, bringing its total holdings to 64,610,418 shares. Those shares were bought two days ago, and are already worth $5 million more than the purchase price. But the longer-term picture isn't as positive.
The governors of six states have sent a letter to federal officials asking that they take "immediate action" to help the troubled domestic automakers.
The company suspended 2009 guidance. How worried should investors be?
Airline customers are cashing in more frequent-flier awards this year, looking to avoid higher fares and believing that miles just aren't worth the same anymore.
Merger talks between General Motors and privately held Chrysler are moving at a faster pace as potential lenders have thrown their support behind a deal between the two U.S.-based automakers, CNBC has learned.