Detroit

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No Hope for Detroit Until We End Rip-Off Financing

The indebted consumer can't afford cars

(Newser) - Congress' plan to bail out Detroit ignores one fundamental problem: Americans owe so much on their current cars—often more than the vehicles are worth—that they can't buy new ones, writes Stephanie Mencimer in Mother Jones. Detroit—along with the "great scourge of the American consumer market: the...

Canada Pledges $3.3B Aid for Automakers

Feds, Ontario grant emergency loans for its subsidiaries

(Newser) - A day after President Bush offered a bailout to American automakers, Canada announced plans to follow suit. The federal and Ontario governments will grant GM and Chrysler’s Canadian subsidiaries $3.3 billion ($4 billion in Canadian dollars), the Globe and Mail reports. “We cannot afford either in the...

This Ain't Charity: Detroit Must Win Consumers Back

Americans will get back on board if auto giants prove they can make good cars again

(Newser) - With a $17.4 billion bailout in hand, Detroit must now turn toward restructuring and making the cars America needs, Mark Phelan writes in the Detroit Free Press. “To win back American buyers’ respect,” Phelan continues, “the automakers must show the aid package was a sound investment,...

White House Gives Automakers $17.4B Bailout

(Newser) - President Bush rolled out a $17.4 billion emergency loan package for US automakers today, promising $13.4 billion in immediate short-term loans from the remaining TARP funds and an additional $4 billion available in February, MSNBC reports. But the clock is ticking, as the companies must show they are...

South Ensuring Detroit Won't Rise Again

States woo Northern economy with lower wages, 'inhumane standards'

(Newser) - It's no coincidence that Dixie senators derailed the Big Three bailout, since the South—with anti-union laws, low wages, and modest taxes—has built a counter-Detroit that will ensure that neither the Motor City or the South will rise again, Michael Lind writes in Salon. The same tactics were used...

Chrysler Idling US Plants for 30 Days

Supply to be slowed so it meets lowered demand, company says

(Newser) - Ominous news on the auto front: Chrysler will idle all its North American plants for at least 30 days beginning Friday, a move meant to realign the company's supply with plummeting demand, the Detroit News reports. Ford, meanwhile, will close 10 assembly plants for an extra week in January, the...

Why Asian Automakers Don't Want Detroit to Fail
Why Asian Automakers Don't Want Detroit to Fail
ANALYSIS
Dec 16, 2008 11:01 AM CST

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

(Newser) - As Detroit’s Big Three await word on the fate of their much-needed bailout, an unlikely group of supporters has assembled in their corner: foreign automakers. A collapse of General Motors, Ford, or Chrysler would devastate overseas manufacturers as well, CNNMoney reports, spreading bankruptcy to suppliers around the globe and...

Illinois AG: Let Voters Pick New Senator
Illinois AG: Let Voters Pick
New Senator
TALK SHOW ROUNDUP
Dec 14, 2008 11:21 AM CST

Illinois AG: Let Voters Pick New Senator

McCain scolds GOP for Blago flap; Granholm, Romney clash on autos

(Newser) - Blago and bailouts were the talk of today's talk shows. Illinois Attorney General Lisa Madigan told Meet the Press that voters should elect Barack Obama’s Senate replacement in a special election, while the state’s lieutenant governor said legislation would allow him to appoint a caretaker until a special...

Bailout First Skirmish in GOP, UAW Battle
 Bailout First Skirmish 
 in GOP, UAW Battle 
ANALYSIS
Dec 13, 2008 5:35 PM CST

Bailout First Skirmish in GOP, UAW Battle

(Newser) - The defeat of the Detroit bailout bill by Senate Republicans is seen by some in Washington as a preemptive strike against organized labor, the Los Angeles Times reports. The GOP framed their opposition partly as a message to the United Auto Workers, claiming high wages were the cause of Detroit’...

Detroit Papers to Cut Home Delivery

Likely move will be first for major metro rags

(Newser) - In another sign of the dire health of the newspaper business, leading Detroit newspapers are expected to announce this week that they're eliminating home delivery 4 days a week, the Wall Street Journal reports. The Detroit Free Press and the News would be the first major metropolitan papers to take...

Dark Day for Detroit
 Dark Day for Detroit 
EDITORIAL
Dec 12, 2008 2:36 AM CST

Dark Day for Detroit

Bailout collapse leaves state fretting over future

(Newser) - Detroit's bailout has crashed and burned, casting a pall on Michigan's future, the Detroit Free Press writes. The state knows the pain that comes with tough times in the auto industry all too well, and it's "incredible" that any American lawmaker "could want to watch these hard times...

Auto Deal Fails in Senate Over UAW Wage Cuts

(Newser) - A bid to provide emergency aid to automakers failed in the Senate tonight, the Washington Post reports. Negotiators nearly completed an 11th-hour deal but got hung up on union wages. Republicans wanted immediate cuts, and Democrats sought to delay them until 2011. "We're not going to get to the...

No More Bailouts, Detroit or Otherwise: Learn the Lesson

Yes, there will be pain, but saving irresponsible companies bad for US future

(Newser) - Given the failure of the Wall Street bailout, to think doing the same for Detroit would help the auto industry and America in the long run is fantasy, Kevin O’Brien writes in the Cleveland Plain Dealer. The only thing that will help is to feel the pain. “No...

House Approves Auto Aid; Senate Prospects Are Iffy

(Newser) - The House tonight passed a $14 billion rescue plan for GM and Chrysler, but the measure's fate in the Senate remains uncertain, the New York Times reports. The bill passed 237-170, largely along party lines. Republicans in the Senate have vowed to block or at least delay its progress because...

Why Are We Bailing Out Car 1.0?
 Why Are We Bailing Out Car 1.0? 
OPINION
Dec 10, 2008 12:30 PM CST

Why Are We Bailing Out Car 1.0?

Detroit is getting left behind

(Newser) - In the modern global economy, Thomas Friedman has a simple rule: “Whatever can be done, will be done,” and if you’re not the one doing it, someone else is. Detroit’s automakers aren’t exploring new business models, so other companies are. When one of them clicks,...

White House, Dems Agree on $15B Auto Deal

But key Republicans threaten to block measure in Senate

(Newser) - Democrats reached a tentative deal with the White House on a $15 billion rescue plan for GM and Chrysler, but unsatisfied Republicans threatened to block the deal, the Detroit Free Press reports. The measure could be presented to the House tomorrow morning and passed in the afternoon. But the Senate's...

Detroit's Sourest Lemons
 Detroit's Sourest 
 Lemons 
OPINION
Dec 7, 2008 8:12 PM CST

Detroit's Sourest Lemons

A look at these clunkers will leave little doubt why Motown's in such a mess

(Newser) - With Detroit automakers making headlines on Capitol Hill, the New York Daily News offers a retrospective on the Motor City’s biggest lemons:
  • Ford Edsel: A gas-guzzling marketing disaster that became a byword for failure.
  • Chevy Aveo: From 0 to 60 in 11.7 seconds.
  • Hummer H2: A militaristic
...

Democrats, White House Haggle Over 'Car Czar'

(Newser) - As White House and congressional negotiators work out the details of aid to the Big 3 automakers, they've hit a stumbling block over the need for a so-called "car czar," the Washington Post reports. The White House wants to appoint a powerful trustee from within the Commerce Department...

Auto Bailout Must Be Paid Back: Bush

Bush supports some aid, but it must be done his way, he warns Dems

(Newser) - Using the word "recession" for the first time to describe the US economy, President Bush today demanded that Congress adopt his approach to an auto bailout and require car companies to pay back any federal aid. But he displayed skepticism about the wisdom of new aid, saying he is...

Detroit Paper to Congress: You Cannot Turn Away
Detroit Paper to Congress: You Cannot Turn Away
editorial
Dec 4, 2008 9:29 PM CST

Detroit Paper to Congress: You Cannot Turn Away

(Newser) - In an open letter to members of Congress, the Detroit Free Press insists that the government cannot turn its back on the auto industry. If it does, "there will be economic hell to pay—not just in Detroit, but all across America, including in your state, in your district....

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