United Auto Workers President Ron Gettelfinger said Saturday he thought the union had been close to a contract deal to end a strike against American Axle — until the auto parts supplier offered a proposal that included closing three plants.

Wall Street ended the week with a big decline as investors grappled with two of the biggest threats to the economy: fallout from turmoil in the credit market and surging energy prices. All three major indexes suffered losses for the week.

Buying up small blocks of stock, billionaire investor Kirk Kerkorian quietly accumulated millions of shares of Ford Motor Co. in a series of purchases in April that left the automaker "completely unaware" of his involvement until later in the month.

Auto parts maker Delphi Corp. reported Friday that it lost more money in the first quarter than it did a year ago, but that an expanded credit line will still allow it to emerge intact from bankruptcy protection.

THE STRIKE: About 3,600 American Axle and Manufacturing Holdings Inc. workers have been on strike since Feb. 26 in a dispute over wages and benefits.

There's hope among the striking workers outside of American Axle's hulking Detroit factory complex, but along with it come skepticism and fear.

Shares of Superior Industries International Inc. rose Friday, after the aluminum wheel supplier said its first-quarter profit jumped 55 percent on lower costs.

Shares of American International Group Inc. took the biggest loss on the Dow Jones Industrial average Friday after the insurer posted a steeper-than-expected loss in the first quarter, helping to drag the index lower.

In a May 8 story about General Motors Corp. buying its previously leased headquarters, The Associated Press misspelled the last name of a GM spokeswoman. Her name is Renee Rashid-Merem, not Rashid-Menem.

American International Group Inc. stock took the largest midday loss among Dow Jones industrial average stocks Friday, after the insurer posted a disappointing first quarter and said it will raise $12.5 billion.

Gov. Arnold Schwarzenegger on Thursday said pressure from the auto industry will not deter California from attempting to impose strict emission rules for vehicles sold in the state.

Gov. Arnold Schwarzenegger said pressure from the auto industry will not deter California from attempting to impose strict emission rules for vehicles sold in the state.

Aluminum wheel supplier Superior Industries International Inc. said Friday its first-quarter profit rose 55 percent as lower expenses offset weaker sales.

General Motors Corp. is buying its previously leased headquarters in downtown Detroit's towering Renaissance Center for $626 million, saying the weak real estate market opened an opportunity for the automaker.

Gov. Arnold Schwarzenegger said Thursday that pressure from the auto industry will not deter California from attempting to impose strict emission rules for vehicles sold in the state.