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By James Andrew Miller, Tom Shales
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AP/Elise Amendola
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By Robert Scheer — How fitting that Dan Quayle, a bumbling excuse for a vice president of the United States, should end up as a top executive of a $20 billion private equity firm mired in controversy.
Posted on Dec 28, 2012
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crowt59 (CC BY 2.0)
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A new policy approved by the EPA will allow states to permit the sale of fuel that contains up to 15 percent ethanol, and the difference could damage your car.
Posted on Dec 26, 2012
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Screenshot
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By Robert Reich — Over the weekend, Romney debuted an ad in Ohio showing cars being crushed as a narrator says Obama “sold Chrysler to Italians who are going to build Jeeps in China. Mitt Romney will fight for every American job.” This is only the most recent in a stream of lies from Romney.
Posted on Oct 30, 2012
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A look at the day’s political happenings, including Mitt Romney’s latest campaign deception and New Jersey Gov. Chris Christie offering praise for President Obama.
Posted on Oct 30, 2012
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The Huffington Post
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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.
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President Obama went over to Toledo, Ohio, to thank the workers at a Chrysler plant for the bailed-out auto industry’s newfound profitability, but, as this video attests, the workers of that community are not feeling the love from Obama’s corporate welfare.
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YouTube
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By Aram Sinnreich — The Super Bowl commercial is a shell game. Detroit’s pain isn’t the result of some existential crisis of faith, but a direct consequence of the amoral, profit-seeking behaviors of Chrysler itself.
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Given the outsourcing, the massive bailout, the abandoned houses and the rest of the city’s emotional baggage, it was sort of inevitable that Chrysler’s “Imported from Detroit” ad, featuring Eminem and spanning roughly $12 million worth of airtime, would elicit cheers and jeers from Congress.
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fordnewsblog.wordpress.com
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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.
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Flickr / ThreadedThoughts
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The Senate is finally getting around to approving more money for the wildly successful “cash for clunkers” program, which seems to have saved the auto industry from the forces of recession and bankruptcy. With an additional $2 billion on the way, the administration hopes to transform 500,000 more clunkers into cleaner, smaller, more efficient vehicles.
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Flickr/richardefreeman
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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.
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Flickr / dok1
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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
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By Eugene Robinson — With GM’s bankruptcy filing on Monday, we the people have become majority owners of a museum-quality piece of industrial history.
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AP photo / Gerald Herbert
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President Obama gave certain hedge fund manager types who held out for “an unjustified taxpayer bailout,” as he put it, a dressing down in the midst of his comments about Chrysler’s bankruptcy filing on Thursday. Needless to say, that didn’t go over so well with the targeted demographic.
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By Marie Cocco — 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.
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Even Fox News’ Shep Smith said it: America doesn’t torture ... although the recently released set of torture memos belies that declaration. Meanwhile, President Obama’s none too pleased with credit card companies, and Chrysler has hit the skids. Was there any good news this week? Tony Blankley thinks so.
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Flickr / Dr. Keats
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The Treasury Department has cut a deal with the United Auto Workers to send Chrysler into bankruptcy while protecting retiree benefits, The New York Times reports. Fiat would be in a more favorable position to take a cut of the company once it’s in bankruptcy. Chrysler’s equity stakeholders are shaping up as the big losers in all of this.
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fordnewsblog.wordpress.com
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President Obama grabbed the proverbial steering wheel on Monday, shaking up the American auto industry by stating tougher conditions for receiving federal subsidies and forcing GM’s CEO to step down. But critics are wrong to suggest that this represents an unprecedented use of executive power.
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By Eugene Robinson — 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.
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Flickr / richardefreeman
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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.
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By E.J. Dionne, Jr. — It makes sense to prop up ailing carmakers. Allowing GM and Chrysler to go bankrupt could be a triggering event that might make a very bad economy much worse.
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truckend.com
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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.
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fordnewsblog.wordpress.com
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What’s to be done about the floundering American automotive industry? Appoint a “car czar,” you say? No, this is a job for a whole team of people, such as the newly formed Presidential Task Force on Autos. One small hitch: It’ll be headed up by Timothy Geithner and Lawrence Summers.
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freewebs.com
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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.
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The New York Times / Doug Mills
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In an avowed effort to save capitalism from itself, President Bush announced Friday that he would throw the Big Three failing auto companies a $17.4 billion lifesaver, siphoning that money from the initial $700 billion bailout slush fund authorized by Congress in October.
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New York Times / Stephen Crowley
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Agreement has been reached between the White House and congressional Democrats to offer the U.S. auto industry a $14 billion emergency package aimed at keeping the Big Three going until spring. Also, in the grand tradition of state socialism, the deal includes a new auto “czar” to oversee the restructuring of Detroit.
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Flickr / Franco Folini
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As congressional leaders, the White House and President-elect Obama came to terms with a $15-billion loan package for the auto industry, Sen. Chris Dodd suggested Sunday that not all executives should stick around to spend that money. GM CEO Rick Wagoner “has to move on,” the senator declared on “Face the Nation.”
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aolcdn.com
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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.
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cartype.com
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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.
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AP photo / Carlos Osorio
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By Titus Levi — There’s no guarantee that a bailout would save the incompetently managed American automobile industry. However, doing nothing may be worse, especially for the state of Michigan.
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washingtonpost.com
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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.
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Flickr / SteelCityHobbies
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The chief executives of the Big Three American car companies head to Washington Tuesday along with the head of the United Auto Workers to beg Congress for a bailout that seems less and less probable.
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chryslerllc.com
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With gas-guzzling brands such as Jeep and Dodge, Chrysler has had a particularly hard time selling its cars to weary consumers, but it turns out that the company has three forward-thinking models headed to a showroom near you.
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Benghazi: Dissecting Congressional Follies, Media Coverage and ‘Cover-Up’ Charges
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