Tuesday, November 24, 2009
Fixing Detroit's Automakers: One Year Later
The inside story of the GM, Chrysler bailouts
Washington -- Detroit's Big Three automakers came closer than America realized to becoming the Big Two. General Motors Corp. ended merger talks with Chrysler LLC in November 2008 to focus on getting emergency federal aid, but Chrysler continued to believe a tie-up with GM was its best chance for survival. The GM-Chrysler tale is among new details that emerged in Detroit News interviews with more than a dozen insiders -- automakers as well as government officials -- over the past two months. - 5:12 pm
Ford's progress reflected in stock's rally
A year ago, Ford Motor Co.'s stock was struggling to get back above $1.50 a share, a few days after slamming into the bottom at $1.01 a share. What a difference a year makes. On Monday, shares in the Dearborn automaker closed up 9 cents at $8.73.
GM looks for Opel help in Europe
General Motors Co. is appealing to European governments to help finance a $5 billion restructuring for Adam Opel GmbH after deciding this month to keep the troubled German carmaker.
Forecast: Slow recovery could delay GM, Chrysler plans to go public
Auto sales will continue to recover slowly in 2010, which could hamper cash flow and efforts by General Motors and Chrysler to rebound, according to a forecast released Monday. - 6:02 pm
Editor's Choice
Viewpoints
Autos Blog
Neil Winton: German luxury carmaker BMW has unveiled pictures and details of its new 5 Series sedan, which goes … Continued
Autos: Scott Burgess' Blog
Scott Burgess: Check out this video from the Toyko Motor Show: The LFA has arrived.
… Continued
CyberSurvey
Too big to fail?
From your perspective now, was bailing out GM and Chrysler the right thing to do?
Insider Picture Desk
Advertisement
AP Headlines
Auto News
- Saab likely to close as GM fails to sell car brand - 05:13 PM
- Ford extends most of its $10.7B credit line - 04:51 PM
- GM parts suppliers return $140M from bailout - 04:32 PM
- GM to present Opel plan to unions on Wed - 06:51 AM
- GM sues over millions spent on steering repairs - 04:29 PM
Business
- Specifics of Smith proposal to revamp Mich. taxes - 06:45 PM
- Exec says new Asarco to be profitable, competitive - 06:38 PM
- SPIN METER: 'War and Peace' in 209 pages? - 06:33 PM
- US Airways defers delivery of 54 aircraft - 06:33 PM
- CyberSurvey: From your perspective now, was bailing out GM and Chrysler the right thing to do?
- Special section: The auto industry, one year after the bailouts
- Forum: Join the discussion in Autos Talk
- Renault-Nissan inks electric car deal for China city
- Germany warns fellow EU governments against GM jobs aid
- Ford Motor to invest $2.3B in Brazil
- Burgess: 2010 Nissan 370Z is made for drivers
Swedish automaker pulls out of deal with GM for Saab
General Motors Co.'s efforts to sell castoff brands took another hit today when the buyer of Saab terminated the deal. - 5:57 pm
Toyota recalls 110,000 Tundras
Washington -- Toyota Motor Corp. said Tuesday it will recall 110,000 older Toyota Tundra pickups in cold weather states, as federal officials urged motorists to remove spare tires due to excessive corrosion. - 6:30 pm
Howes: Unraveling necessary for Detroit carmakers' future
Daniel Howes: The unraveling began long before Detroit's auto bosses testified to angry congressional committees a year ago this month, the punishing prelude to a revival that remains possible but uncertain. - 5:12 pm
Obama task force worked fast, hard on auto rescue
Washington -- The Obama administration's Team Auto -- a group of a dozen mostly young Wall Street veterans -- worked grueling hours even by Wall Street standards to do the near impossible: remake and save General Motors Corp. and Chrysler LLC in just five months. - 1:00 am
Toyota eyes cost cuts, not shift from California
Toyota Motor Corp. is trying to cut costs in North America but is not considering a large-scale shift of personnel out of California, company officials said Tuesday. - 5:54 pm
GM to present Opel plan to unions Wednesday
Duesseldorf, Germany -- General Motors Co. will present to unions on Wednesday its restructuring plan for the Opel unit, expected to include up to 9,500 job cuts, the carmaker's top official in Europe said Tuesday. - 2:37 pm
Ford completes plan to extend revolving line of credit
Ford Motor Co. announced today that it has successfully completed its plan to extend its revolving credit line, extending the maturity date of commitments totaling $7.2 billion to November 2013 from December 2011. - 3:22 pm
Chrysler appoints new treasurer, chief information officer
Chrysler Group LLC today announced the appointments of a new treasurer and chief information officer. - 3:18 pm
Chrysler's Jeep brand to get Thanksgiving Day Parade promotion
Chrysler Group LLC is using the Thanksgiving Day parade in New York to promote its Jeep brand. - 2:37 pm
Additional reports
- Scott Burgess: Hybrid fused into Milan
- John McCormick: Vehicle safety still has room to improve
- Sneak Peek: 2011 Chevy Aveo
- Extend your car's life with timely maintenance
Burgess: 2010 Nissan 370Z is made for drivers
The 2010 Nissan 370Z roadster advances the stellar 370Z another step with its comfortable ride and rip-roaring, seat-of-your-pants cornering that will leave a big smile on your mug and your hair... - 1:00 am
Continuing Coverage
On The Beat
The Detroit News' autos team
- Bryce Hoffman, Ford Motor Co.
- Robert Snell, General Motors Corp.
- Alisa Priddle, Chrysler LLC, automotive suppliers
- Christine Tierney, foreign automakers
- David Shepardson, automotive policy issues in Washington D.C.
- Scott Burgess, auto critic
- Manny Lopez, auto editor
