Tag Archive for ‘GM’
Bailout Comes Through For GM, Chrysler
CNNMoney reports that the White House and Treasury Department today announced a $13.4 billion bailout for embattled automakers GM and Chrysler. Officials from the companies are expected to sign the papers later today. GM will receive $9.4 billion, while Chrysler is said to be lined up for $4 billion. We’ll see how that works out. Full story here [...]
NASCAR’s woes for 09
It’s not our favorite sport here at DSTV, but we can only imagine there is some hand-wringing for fans of NASCAR. It’s biggest sponsors are the same three companies that were recently begging for cash to stay afloat. Naturally, that means the 2009 sponsorships are getting slashed–big time. [NY Times]
Still searching for three wise men
Without a trace of irony, a Detroit church placed three SUVs up on its altar for a prayer service in support of the automaker bailout. One each from Ford, Chevy, and Chrysler. Reuters has the gospel, with a full slideshow here. No word on whether any of the Big 3 have plans to announce a [...]
Automaker Bailout – The Saga Continues
You know things have reached a strange pass when Michael Moore and Republican Congressmen are in perfect agreement about the proposed automaker bailout. In an article at the Huffington Post (where else?) Moore says, “Let me just state the obvious: Every single dollar Congress gives these three companies will be flushed right down the toilet.” [...]
Begging for more
GM, Chrysler and Ford are up on the hill today, begging for a whopping $34-billion to save their collective asses. To show just how despirate they are, they all *gasp* drove to the hearings in, of all things, cars made by their own companies. See fed? These guys really are on the edge of reason. [...]
I’ll take a clue for $1, Alex
Looks like the heads of the Big 3 are finally getting a clue. Today, Ford CEO Mullaly said he’ll work for $1 if Ford gets it’s welfare request granted by The State. Likewise, Chrysler Chief Exec Nardelli will work for $1. GM main guy Wagoner hasn’t yet pleged the same, but he’d look the total [...]
A case against the bailout: the Pontiac 3000
It has been a rough month in the auto industry. Scratch that, it has been a tough year. This month saw the demise of several automotive magazines starting with import tuning OG, “Turbo Magazine.” This was quickly followed by one of my favorites, “Sports Car International” from Ross Publications. Then, just a few days ago, [...]
Chinese to buy GM and Chrysler? So what?
Word on the street (or, on the ‘net as reported by The Truth About Cars, earlier today) is that Chinese car companies may buy “assets” of GM and Chrysler if the giant automakers declare bankruptcy. “Assets” is a term that means factories, machinery, subsidiaries, and intellectual property like designs, manufacturing techniques, patents, copyrights and trademarks. [...]
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