Cars, Banks and Confusion

Eugene Robinson / Truthdig Mar 31, 2009 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. Dig deeper ( 3 Min. Read )

Obama Team Scraps Auto Bailout

Staff / Truthdig Mar 30, 2009 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. Dig deeper ( 1 Min. Read )

GM Chief Booted in Bailout Deal

Staff / Truthdig Mar 30, 2009 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 Dig deeper ( 1 Min. Read )

A Government of Men, Not Laws

David Sirota / Truthdig Mar 20, 2009 In the 21st century Gilded Age, the blue-collar shower-after-work crowd is given the tough, while the white-collar shower-before-work gang gets the love, and never before this week was that doctrine made so clear. Dig deeper ( 3 Min. Read )

GM Is Europe’s Headache, Too

Staff / Truthdig Mar 6, 2009 If GM strikes out in Washington, the automaker could take its troubles to Europe, the second continent where it has asked for a bailout. That's because GM operates plants in six European countries, to the tune of 300,000 jobs. The company is hoping for good news, especially since its auditors announced it may not survive much longer. Dig deeper ( 1 Min. Read )

Downward Automobility

E.J. Dionne Jr. / Truthdig Feb 19, 2009 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. Dig deeper ( 3 Min. Read )

Auto Task Force … Activate!

Staff / Truthdig Feb 17, 2009 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. Dig deeper ( 1 Min. Read )

Toyota to Post First Loss in 70 Years

Staff / Truthdig Dec 23, 2008 Here's yet another sign of the econo-polcalypse: Toyota Motor Corp., which has been profitable for decades thanks to steady sales and shrewd leadership, has predicted a loss for the first time in 70 years. Dig deeper ( 1 Min. Read )

Bush Passes Bailout Buck to Obama

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

‘Left, Right & Center’: Oy, Blagojevich! Whither Detroit?

Staff / Truthdig Dec 13, 2008 Illinois' Governor of Ill Repute is the focus of some lively exchanges among "Left, Right & Center" co-hosts/government corruption watchdogs Tony Blankley, Matt Miller, Robert Scheer and Arianna Huffington. Also: Who's Steven Chu? 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 )

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 )