Crippling the Auto Union Is Just a Warm-Up

Marie Cocco / Truthdig Dec 16, 2008 I must admit that when the danger of a global financial implosion became apparent in March, I did not understand how all those worthless Wall Street credit swaps really could be the fault of an overpaid union welder at an auto plant somewhere in Michigan. Dig deeper ( 3 Min. Read )

Bailout to Jump-Start Detroit

Staff / Truthdig Dec 10, 2008 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. Dig deeper ( 1 Min. Read )

Auto Bailout Comes With Car Czar, Standard

Staff / Truthdig Dec 9, 2008 White House and congressional leaders have agreed to bail out the auto industry. Detroit will get $15 billion in loans and, to make sure the Big Three keep running after their warranties expire, a so-called car czar will oversee long-term restructuring. And because we're really serious about getting this right, George W. Bush gets to pick the car czar. D'oh! Dig deeper ( 1 Min. Read )

Senator Tells GM Chief to Take a Hike

Staff / Truthdig Dec 8, 2008 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." Dig deeper ( 1 Min. Read )

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

Staff / Truthdig Dec 7, 2008 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? Dig deeper ( 1 Min. Read )

A Toyota Takeover Could Save GM

Michael Intriligator / Truthdig Dec 6, 2008 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. Dig deeper ( 3 Min. Read )

Poll: Auto Bailout Low on Fuel

Staff / Truthdig Dec 4, 2008 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. Dig deeper ( 1 Min. Read )

Ford Asks Gov’t for $9 Billion

Staff / Truthdig Dec 3, 2008 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. Dig deeper ( 1 Min. Read )

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

Staff / Truthdig Nov 23, 2008 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. Dig deeper ( 1 Min. Read )

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

Staff / Truthdig Nov 21, 2008 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. Dig deeper ( 1 Min. Read )

Steering Clear of Disaster in Detroit

Bill Boyarsky / Truthdig Nov 21, 2008 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. Dig deeper ( 4 Min. Read )

Running on Empty

Staff / Truthdig Nov 19, 2008 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. Dig deeper ( 1 Min. Read )