Monday night, the Treasury Department agreed to lend GMAC $6 Billion out a new TARP fund set up to specifically help the struggling auto industry. This move, along with GMAC getting bank holding status last week are two huge steps in reviving a struggling auto industry. They may not be sexy moves, but they are critical moves.
Stocks rebounded Tuesday as investors cheered the bailout of General Motors' finance arm.
General Motors up 10 percent pre-open as GMAC clears a major hurdle: They say they have raised enough capital to satisfy the Fed's condition to become a bank-holding company. This appears to be a new program operating within the TARP — so we now have a program specifically designed to invest in auto companies.
U.S. stock index futures pointed to a higher open for Wall Street Tuesday, after ending down on Monday, with investors still hoping for a last rally in the final days of the year.
Three days left until the Baby New Year. But will 2009 really bring a new beginning?
The Dow slid on Monday after Kuwait pulled out of a joint venture with Dow Chemical due to the deepening global recession, threatening Dow's planned takeover of Rohm & Haas.
Stocks ended lower as the unraveling of one of the biggest deals this year overshadowed gains in the energy sector.
The financing arm of General Motors remained silent Monday on whether it had raised enough capital to become a bank-holding company and eligible for access to billions in federal bailout money.
With the auto companies on their holiday breaks, this is always a week when I think about the year ahead for the auto industry. In past years, some of the predictions I've made to myself have come true, while many more were so off the mark it was kind of funny. So: What will happen in '09?
Many comparisons have been made between the current economic climate and the Depression era. With the Dow and S&P poised to have their worst yearly performances since 1931, here's a look at what happened in the years that followed.
The Dow climbed along with oil prices, while General Motors rose after its financing arm qualified for government funds, helping it stave off potential bankruptcy...
Stocks finished higher Friday on a day when Wall Street looked like a ghost town, but the week ended without a visit from a much-anticipated Santa Claus rally.
Stocks edged higher at the open as Wall Street looked for a boost from a Christmas gift for GMAC and some heavy holiday activity at selected retailers.
GMAC Financial Services' transition into a bank holding company should buy the troubled lender some time to turn itself around, but the cost is a loss of control for its owners General Motors and Cerberus Capital Management.
Stock index futures pointed to a low-volume rally pushed by the approval of General Motors' financing arm to become a bank holding company.
When I called folks I know in the various auto companies to wish them a Merry Christmas, I heard the same thing over and over. I'm thankful to still be working and I'm wondering how much worse things will get next year.
General Motors may have its lifeline from the federal government, but another crucial vote is looming that will affect its ability to provide car loans to customers, the New York Times reports.
It's time to have some fun. Here's my top 10 list of what the New York Yankees could buy with the $423.5 million they paid for C.C. Sabathia, A.J. Burnett and Mark Teixeira. Please note, it's not all of these.
I'm not a car expert. I'm a driving expert. I drive 25,000 miles a year, and I've driven everything. I know what works and what doesn't, and I avoid buying American. Get mad at me all you want, but I speak from experience, and millions of other drivers in the Car Capital of America (California) agree with me.
With all those financial mergers, it's time for those companies who merged to come out of the S&P 500, and new companies to come in.