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The announcement by the Treasury Department that it will provide up to $5 Billion in federal aid is the next move by President Obama's auto task force to help the auto industry avoid a collapse.
What a difference a week makes. The combination of a market bounce, favorable news from GM, and reports of Ford planning to offer a $2.95 Billion in TALF-related bonds have sent shares of Ford and GM surging in the last week.
Shares of Ford were trading up on word that Ford planned to issue a $2.95 billion bond backed by auto receivables is an indication that the Term Asset-Backed Securities Loan Facility (TALF) is finally becoming real.
Congress is once again kicking around the idea of giving people an incentive to trade in their old car or truck for a newer, more fuel efficient model. It's an idea that has sparked demand for new cars in other countries around the world. And frankly, it is one of the few incentive programs that is a win/win situation.
After a rocky start, stocks barreled higher Tuesday fueled by a surge in techs and a report that showed new home construction unexpectedly jumped in February. Even banks posted strong gains.
Stocks struggled to hold gains Tuesday as investors were encouraged by a report that showed new home construction unexpectedly jumped in February but banks wobbled.
Two weeks before the deadline for President Obama's Auto Task Force to decide whether or not to lend Chrysler, GM and suppliers billions more in Federal aid, Chrysler CEO is very clear: he needs a decision.
Stocks struggled at the open Tuesday as investors were encouragd by a report that showed new home construction unexpectedly jumped in February but banks wobbled.
After almost a month of virtual silence by nearly everyone involved in the auto bailout talks, the primary players are starting to talk.
For pure "car lovers", the re-birth of the Chevy Camaro is like an early Christmas gift. A modern day muscle car (base sticker $22,995) built for people who live for the thrill of the drive. But...
When a stock trades down around $2.50 a share it's dangerous to make too much out of a dramatic move up or down.
Today, General Motors announced it no longer needs a $2 Billion dollar loan from the Treasury Department this month.
Schwarzenegger has come to personify what many in the domestic auto industry can't stand. He is unabashed in his belief auto makers can and should make cleaner, more fuel efficient vehicles.
Remember when Ford CEO Alan Mulally took over the top job at the auto maker and boldly pronounced, "We will win with great cars!"? I do. I remember thinking, "Well, this will be interesting to see if Ford can truly become competitive in cars."
Tonight Show host Jay Leno knows that. Which is one reason he is bringing "Jay's Comedy Stimulus Plan" to Detroit on April 7th and giving away tickets to anyone who says they are unemployed.
This afternoon, the UAW members at Ford overwhelmingly voted in favor of changing their contract with the auto maker.
When President Obama's Auto Task Force rolls into Detroit Monday it will spark another round of stories and speculation about when the Treasury Department will decide the fate of GM, and Chrysler. Don't hold your breath.
Stocks retreated as an early rally triggered by an on-target payrolls number fizzled.
Shares of GM have been getting hammered due to growing speculation the beleaguered auto maker is edging closer to filing for bankruptcy.
After General Motors issued its 10K report yesterday casting doubt on whether it can survive, there have been plenty of questions about why GM doesn't just go into bankruptcy.