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Tag: Auto Industry

No Denial: ‘Son of Detroit’ Profited From Bailout—and Jobs Shipped to China

The neglect of the Delphi story by mainstream and even progressive outlets such as MSNBC has been remarkable, particularly because neither Romney nor his campaign has denied it.

Posted on Oct 25, 2012 READ MORE


Auto Bailout Was a Bonanza for Romney and Friends

Mitt Romney and his wife made at least $15 million (and as much as $115 million) from the very taxpayer-funded auto bailout of 2009 that he opposed, while donors to Republican candidates made more than $4 billion by holding the auto industry and tens of thousands of American jobs hostage.

Posted on Oct 18, 2012 READ MORE



U.S. Treasury

Treasury Projects a Profit From Bailout

Just as Mitt Romney has locked up the Republican nomination on a boast of fiscal conservatism, President Obama’s Treasury Department has said it expects to turn a tidy $2 billion profit from TARP and other extraordinary measures taken to bail out the financial industry.

Posted on Apr 15, 2012 READ MORE


Mitt in Michigan

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Posted on Feb 24, 2012 READ MORE



The Huffington Post

Eastwood on Detroit: ‘Motor City Is Fighting Again’

Those who caught the Super Bowl broadcast Sunday might have heard Clint Eastwood’s gravelly growl emanating from their sets during one of the big game’s coveted ad breaks.

Posted on Feb 6, 2012 READ MORE



titanium22 (CC-BY)

Weapons ‘R’ Us: Making Warbirds Instead of Thunderbirds

“Makin’ Thunderbirds” is about auto workers back in 1955 who were “young and proud” to be making Ford cars. But in the early 1980s, Bob Seger sings, “the plants have changed and you’re lucky if you work.” Now America’s plants make the deadliest of weapons.

Posted on Jan 26, 2012 READ MORE


When Socialism Saves Capitalism

Have you noticed that one of the Obama administration’s most successful programs is also its most “socialist” initiative?

Posted on Sep 21, 2011 READ MORE


The Government: Credit Where Credit Is Due

Don’t expect to see a lot of newspapers and websites with this headline: “Big Government Bailout Worked.” But it would be entirely accurate.

Posted on May 8, 2011 READ MORE


How Big Government Saved the Malibu

Who could have imagined that the bailout of the auto industry, one of the single most unpopular moves by the Obama administration, would become one of its best talking points?

Posted on Aug 1, 2010 READ MORE



Flickr / Jyle Dupuis

Make It Three: Prius Brakes Could Spark Another Toyota Recall

The brakes on the 2010 Toyota Prius have prompted a U.S. government investigation and a possible third recall for the troubled automaker, if a report in Japan’s biggest business newspaper is to be believed. (continued)

Posted on Feb 4, 2010 READ MORE


money bags
0-60mag.com

Federal Deficit Hits Record $1.42 trillion

If you thought last year’s federal budget deficit was pretty big, you were right—and it’s three times as big now! Thanks to the magic of the recession, as well as the government’s attempts to rescue various sectors of the economy (and throw money at others, or so it appeared), the deficit for the 12 months ending last month was a whopping $1.42 trillion.

Posted on Oct 16, 2009 READ MORE


auto industry
fordnewsblog.wordpress.com

‘Cash for Clunkers’ Gives Auto Industry a Lift

Those dangerous socialists in our federal government have really done it this time. Why, they’ve ... engineered a way to give the American auto industry a much-needed boost with their successful “Cash for Clunkers” program.

Posted on Sep 1, 2009 READ MORE


GM building
Flickr/richardefreeman

Here Comes the ‘New’ GM

General Motors Chief Executive Fritz Henderson tooted his company’s horn plenty when he ushered in a new, post-bankruptcy era for the Detroit automaker—but he couldn’t promise that GM 2.0 would be able to pay back the billions of dollars his company got from taxpayers.

Posted on Jul 10, 2009 READ MORE



Flickr / dok1

Supremes Stall Chrysler Deal

The Supreme Court has put the brakes on President Obama’s plans to bail out the auto industry, ordering a stay of the sale of Chrysler to Fiat. Before the ruling, the administration said blocking the deal would have “grave consequences” for Chrysler. Also, it could threaten the government’s plans for the much larger and more complicated GM. Update

Posted on Jun 8, 2009 READ MORE


The New GM

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Posted on Jun 3, 2009 READ MORE


GM’s Fall and the Cars of My Youth

I wonder what my father would have thought of the self-destruction of General Motors. We were a General Motors family, but not a happy one.

Posted on Jun 2, 2009 READ MORE


The End of the Middle Class as We Know It

This is how it ends. Or at least, this is how the latest, sad chapter in a story that has been ending for three decades is written.

Posted on Apr 29, 2009 READ MORE



Flickr / dogonthesidewalk

Uncle Sam Forces GM to Stop and Ask for Directions to Bankruptcy

GM has until June 1 to cut a deal with its workers and bondholders, but the Treasury Department is requiring the automaker to prepare for bankruptcy just in case, according to The New York Times. Newly installed GM chief Fritz Henderson is more receptive to the possibility than his predecessor, but warns, “If we need to resort to bankruptcy, we have to do it quickly.”

Posted on Apr 13, 2009 READ MORE


GM Saw

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Posted on Apr 9, 2009 READ MORE


60 Days

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Posted on Apr 1, 2009 READ MORE


GM Collapse

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Posted on Apr 1, 2009 READ MORE


Cars, Banks and Confusion

The president is telling Detroit to shape up or die while at the same time politely asking Wall Street, whose recklessness and greed caused this economic crisis, if it would be so kind as to accept another heaping helping of taxpayer funds.

Posted on Mar 30, 2009 READ MORE



Flickr / richardefreeman

Obama Team Scraps Auto Bailout

The Obama administration auto task force has sent both GM and Chrysler back to the drawing board, turning down requests for additional loans until the companies come up with more realistic restructuring plans. The government will prop up GM for two months while the automaker tries again. Chrysler has 30 days.

Posted on Mar 29, 2009 READ MORE



Flickr / Anatoli Axelrod

GM Chief Booted in Bailout Deal

GM CEO Rick Wagoner resigned Sunday, apparently at the request of the Obama administration as part of a larger bailout agreement. The ouster of the man who gave us the Hummer wasn’t entirely unexpected. He spent the last eight years driving the world’s biggest car company into a ditch. Now if only we could apply this logic to the banking bailout. Update

Posted on Mar 29, 2009 READ MORE


General Chrysler
truckend.com

More Aid, Please

General Motors, recipient of the 2009 “Nation’s Most Resistant-to-Change Company That Still Gets Federal Assistance” award, wants more. The auto giant on Wednesday asked for $16.6 billion in loans, on top of the $13.4 billion already granted. All this amid GM plans to shed 47,000 jobs worldwide.

Posted on Feb 18, 2009 READ MORE


stoplight
Flickr/takomabibelot

Obama Zeroes In on Auto Industry

President Barack Obama called for tougher regulations on auto emissions on Monday, promising not to let a sour economy stand in the way of progress. “I want to be clear from the beginning of this administration that we have made our choice: America will not be held hostage to dwindling resources, hostile regimes and a warming planet,” he said during a meeting with environmentalists in the White House’s East Room.

Posted on Jan 26, 2009 READ MORE


Tahoe
lasplash.com

End of a Supersized Era

Gas prices and fiscal concerns are causing the demise of the American-made sport utility vehicle, a welcome development in the eyes of many fellow drivers but one that also spells the end for thousands of American jobs.

Posted on Dec 23, 2008 READ MORE


Bush with football
freewebs.com

Bush Passes Bailout Buck to Obama

Although President Bush has kicked off the auto industry bailout process before leaving office, some would call Bush’s strategy more of a punt to his presidential successor, Barack Obama.

Posted on Dec 20, 2008 READ MORE


Left, Right & Center

‘Left, Right & Center’: Crash of the Titans

Bernie Madoff made a big mess, and Detroit’s Big Three drove themselves to the brink. So what’s the good news this week—Caroline Kennedy’s auspicious entrée into her famous family’s political biz?

Posted on Dec 19, 2008 READ MORE


Left, Right & Center

‘Left, Right & Center’: Hey, This Really Is a Recession!

Should the Big Three U.S. automakers be driven out of Washington (or Detroit) without the financial help they desperately need? What’s to be done about the massive job losses across the country?

Posted on Dec 6, 2008 READ MORE


GM building
AP photo / Paul Sancya

A Toyota Takeover Could Save GM

Considering only two options for an imperiled General Motors —either bailout by the U.S. government or bankruptcy—omits an important alternative, which I see as the best option: a takeover of GM by Toyota Motor Corp.

Posted on Dec 5, 2008 READ MORE


Big Three
aolcdn.com

Poll: Auto Bailout Low on Fuel

With a bailout of the Big Three hovering over our political landscape, popular opinion has signaled a considerable voice against any federal support for the failing auto industry. A poll shows 61% of Americans oppose a bailout, believing any government assistance would be both unfair and ineffective in fixing the economy.

Posted on Dec 3, 2008 READ MORE


Ford logo
cartype.com

Ford Asks Gov’t for $9 Billion

After a dismal November, Ford Motor Co. is hanging by a thread, but the automaker told Congress on Tuesday that it is in better shape than Chrysler and General Motors and could make it through its current economic crisis with a little help—to the tune of $9 billion in standby loans.

Posted on Dec 2, 2008 READ MORE


Left, Right & Center

‘Left, Right & Center’: Cars, Clinton and the Cabinet

This week’s episode of “Left, Right & Center” focuses on the economy, of course, with specific attention to the challenges facing the auto industry. Meanwhile, President-elect Barack Obama’s Cabinet is taking shape and, once again, Hillary Clinton occupies center stage.

Posted on Nov 23, 2008 READ MORE


Auto Bailout

‘Morning Review’: Prop. 8 and the Big 3

Check out the most recent “Morning Review Friday with Roy Ulrich,” where UC Irvine Law School Dean Erwin Chemerinsky discusses Proposition 8’s current legal status, and Truthdig’s own Titus Levi engages in a fruitful debate on the virtues and pitfalls of a bailout of the auto industry in Detroit with the Cato Institute’s Dan Ikenson.

Posted on Nov 21, 2008 READ MORE


Chrysler plant
AP photo / Carlos Osorio

Steering Clear of Disaster in Detroit

If jobs weren’t disappearing and a depression threatening, it would be easy and satisfying to send the American auto industry into bankruptcy or liquidation. But this isn’t the time to make Chrysler, General Motors and Ford pay for their years of failure and shortsightedness.

Posted on Nov 20, 2008 READ MORE


ENTER_ALT_TEXT
washingtonpost.com

Running on Empty

Republican Sen. Richard Shelby seems to be one of the only real capitalists left on Capitol Hill. The Alabaman argued Wednesday that U.S. auto firms should be left to the realities of the market, letting companies like Ford, GM and Chrysler go bankrupt and forcing the failing industry to carry out what Shelby believes are much-needed reforms.

Posted on Nov 19, 2008 READ MORE


Pirates

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Posted on Nov 19, 2008 READ MORE


Obama

President-Elect Obama Meets the Press

During his first press conference as president-elect, Sen. Barack Obama stressed that he’s not in the Oval Office yet but offered a few specifics about how he plans to handle the economic crisis once he moves in.

Posted on Nov 7, 2008 READ MORE


Trouble for Ford

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Posted on Jan 26, 2007 READ MORE


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