Monday, 9 Nov 2009 | Posted By:
Albert Bozzo | Source: CNBC.com
In some cases, the difference between a winner and loser is often in the eye of the beholder--who can be a victim or a beneficiary--or simply a political ideologue. That’s why we want readers to weigh in and vote on a variety of people and concepts. We’ll report back with results and rankings on December 1.
China has told the United States it is launching a trade investigation that could lead to new import duties on autos and sports utility vehicles made by Chrysler, Ford and General Motors.
Tech stocks shot out of the gate Friday after Microsoft and Amazon blew past earnings expectations. The Dow was up a few points at the start but the tech-heavy Nasdaq jumped 1 percent as Microsoft gained 10 percent and Amazon soared 20 percent.
Friday, 23 Oct 2009 | Source: The Associated Press
Chrysler Financial, once the exclusive lending arm of the storied automaker, will liquidate and go out of business by Dec. 31, 2011, according to a letter from the U.S. Treasury Department.
A late Thursday rally puts Wall Street on pace to chalk up its third consecutive week of gains, but as always, the positive momentum is subject to the whims of earnings and economic numbers once again this morning.
Wednesday, 21 Oct 2009 | Source: The Associated Press
A government watchdog said the $700 billion bailout for the financial industry played a major role in rescuing the economy over the last year but also engendered anger and distrust among Americans because of secrecy and confusion about the way the program was handled.
Tuesday, 20 Oct 2009 | Posted By:
Paul Toscano | Source: CNBC.com
In the past two years, powerful figures in both Washington and Wall Street became household names as the crisis deepened, markets and corporations struggled to survive and the federal government took drastic steps to save the economy. Whether they had a crucial hand in the crisis or were simply in the wrong place at the wrong time may not be clear for years. Now, one year after the roughest stretch for the U.S. economy since the Great Depression, these financial titans have either stepped out of the spotlight or come to the end of their careers, voluntarily or not. So where they now? Click ahead to find out!
It was not exactly a planned strategy, but the recession, particularly in the United States, has been very good for Hyundai, the South Korean automaker.
Taxpayers may not recover all of the bailout money awarded to the auto sector, said Elizabeth Warren, chair of the Congressional Oversight Panel in charge of the Troubled Assets Relief Program [TARP].
Hard times are causing more homeowners to fall behind on their property taxes. But in thousands of cases, they are not responsible to their local governments, but to private companies that charge double-digit interest and thousands of dollars in service fees.
For Steve Feinberg, the onetime owner of Chrysler, the past year has been a crawl toward defeat. He lost billions of dollars. He lost prestige. He lost his privacy. And he ended up a ward and supplicant of the federal government, The New York Times reports.
General Motors, Ford and Chrysler are not the only ones working through wrenching restructurings. Toyota is, as well, though with a much lower profile.
Tuesday, 4 Aug 2009 | Source: The Associated Press
Legislation to inject more money into the "cash-for-clunkers" program will pass the Senate before the start of a month-long recess at the end of this week, Senate Majority Leader Harry Reid said Tuesday.
Remember the good old days? The days when auto shows were major events where an automaker could generate buzz with new models? Where you could see the public's appetite for new cars and trucks? Next week we'll see if auto shows still have the magical pull or if the pall over last years auto show season lingers into this year’s slate of shows... Read More
Ever since Chrysler CEO Sergio Marchionne and his management team unveiled their plan for reviving Chrysler last week, much has been made about what the plan is and is not built around: A heavy emphasis on four cylinder engines and very little mention of hybrids and electric cars... Read More
As I sit through a lengthy explanation of how Sergio Marchionne plans to turn around a struggling Chrysler, one question keeps running through my mind: Do we think this plan will work?... Read More
If you want to get a sense of just how unclear the auto industry is about how much sales will rebound, ask the different sales chiefs at the automakers... Read More
The latest Consumer Reports survey of people who have bought more than 1.4 million vehicles, is further proof of the gulf between Ford and its fellow Big 3 auto makers, GM and Chrysler... Read More