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Bailout Bill Dead; And We're Consuming Less Oil
2 hours 25 min agoUPDATE: The Bailout bill has failed in the Senate. We'll have more on the story as it develops, below is Todd Lassa's blog from earlier in the day Thursday. DETROIT - This just in: Majority Leader Harry Reid (D-Nevada) says there's progress in a...
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Chrysler Shuts For A Month and Chevy Volt Engines Delayed
2 hours 25 min agoChrysler LLC said Wednesday that it will shut down all its North American production for at least one month starting December 19. Both Chrysler and GM are having to cut deeply into expenses as they await news on a government loan package from the White...
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Has The Tide Turned In Favor of The Detroit Three?
2 hours 25 min agoDETROIT - Polls have turned, a bit, in favor of the Detroit Three. CNN reported 61-percent opposition to federal loan guarantees for General Motors, Ford Motor and Chrysler LLC last month. Just 39 percent were in favor. By the time Rick Wagoner, Alan...
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President-elect Obama, Your New Chrysler 300 is, er, Fiberglass...for Now
2 hours 25 min agoDETROIT - Will Chrysler LLC be around long enough to build the 2011 Dodge Charger and Chrysler 300? (Editor's note, a present Chrysler 300 is pictured) Will Chrysler factories reopen after its extended holiday shutdown, which begins Friday? I don't know....
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Beware the Ides of March 31: Toyota's Reversal Proves it's About More Than Cars
2 hours 25 min agoDETROIT - So March 31 turns out to be the big day. It's the day Toyota Motor Company expects to post its first-ever loss, $1.66- to $1.68-billion for the fiscal year, depending on whose rounding and yen-to-dollar conversions you believe. Toyota...
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It May Not Be Bankruptcy, but Chrysler Deconstruction Inevitable
2 hours 25 min agoBy Bill Visnic President George W. Bush finally released the crucial billions needed to keep General Motors Corp. and Chrysler LLC around to see the new year, but with the real work just beginning, the wrenching save-Detroit soap opera seems to be...
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Bush Saves GM and Chrysler at the Last-Minute, for Obama
2 hours 25 min agoDETROIT - The city is shutting down thanks to a snowstorm that will keep at home those who weren't already on an early Christmas vacation. The pall cast over Metro Detroit for the last couple of months has lifted a bit, as President Bush announced...
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Kerkorian Out of the Ford Business
2 hours 25 min agoDETROIT???Billionaire financier Kirk Kerkorian has sold the remainder of his investment in Ford Motor Co. Tracinda, which briefly ranked as Ford's largest outside investor earlier this year, said in a regulatory filing in October that it had begun working...
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Top 10 People We Watched in 2008
2 hours 25 min agoDETROIT - You don't need a reminder of how bad 2008 was for the auto industry. General Motors, Chrysler LLC and Ford Motor Company were the poster children for what has happened to American manufacturing as we shifted to a nation that runs on the...
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Chrysler's 'Thank You' Ads: Not the Best Idea
2 hours 25 min agoBy Bill Visnic Readers of the nation's major newspapers -- those still reading paper, anyway -- by now have seen splashy full-page ads from Chrysler LLC thanking "America" for its bailout-investment in the company. No harm in being contrite, but just like...
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By The Numbers - December 2008: I Want My Mommy Edition
2 hours 25 min agoFiled under: By the NumbersThe U.S. auto industry hasn't experienced a worse year of sales in recent memory, so it's fitting that 2008 should close with December sales data that's no better than the previous disappointing months.The only green you'll...
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By The Numbers - 2008: Phew! Glad That's Over Edition
2 hours 25 min agoFiled under: By the NumbersWe didn't know sales for the U.S. auto industry in 2008 would be this bad when the year began, but it sure ended on a fitting note. Over the past six months or so we've seen the U.S. auto sales market nearly collapse and...
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US auto sales plunge 36 percent in December; GM sells fewest vehicles in 49 years
2 hours 58 min agoDETROIT (AP) — Huge rebates and zero-percent loans couldn't overcome economic uncertainty as U.S. auto sales plunged 36 percent in December, capping a dismal year that saw sales free-fall by 2.9 million vehicles from 2007. The bleak numbers,...
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US auto sales plunge whopping 36 percent in Dec.
3 hours 53 min agoHuge rebates and zero-percent loans couldn't overcome economic uncertainty as U.S. auto sales plunged 36 percent in December, capping a dismal year that saw sales free-fall by 2.9 million vehicles from 2007. The bleak numbers, according to both industry...
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Subaru posts 2008 sales increase in US
4 hours 51 min agoSubaru said Monday its U.S. sales crept higher in 2008 on strong demand for Forester and Impreza models, making it the only automaker to post a year-over-year sales increase. Subaru's December sales fell 7.7 percent to 17,287 units from 18,739 in...
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A roundup of editorials from Michigan newspapers
8 hours 56 min agoUniversity of Michigan best kept in the people's hands Although privatizing the University of Michigan might merit some fresh debate in light of the financial climate, ultimately it would likely be a mistake to seriously pursue it. The concept comes...
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The Drama Continues: House Takes Up $14-Billion GM-Chrysler Loan Bailout First
14 hours 25 min agoDETROIT - The House was expected to vote on the short-term, $14-billion loan guarantee bailout bill for General Motors and Chrysler LLC by Wednesday evening. The bill is a tweaked version of the draft bill I posted here on Tuesday. We know how that vote...
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Business Briefing - January 5, 2009
19 hours 2 min agoGOVERNMENT SENDS CHRYSLER $4 BILLION LOAN AUBURN HILLS, Mich. | Chrysler LLC and the U.S. Treasury Department said Friday that the government had supplied the automaker with a $4 billion loan that was necessary to keep it operating. Chrysler Chief...
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US government sends Chrysler $4 billion bridge loan to keep it operating
Sat, 01/03/2009 - 03:39AUBURN HILLS, Mich. (AP) — Chrysler LLC and the U.S. Treasury Department said Friday that the government had supplied the automaker with a $4 billion loan that was necessary to keep it operating. Chrysler Chief Executive Bob Nardelli said in a...
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UP NEXT: MORE BAD AUTO NEWS
Sat, 01/03/2009 - 01:00The good news for the auto industry in December came when General Motors and Chrysler got their federal bailout. The bad news is coming Monday, when automakers are expected to report another month of staggering sales declines. Many analysts are...
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