Tuesday, November 24, 2009
Fixing Detroit's Automakers: One Year Later
The inside story of the GM, Chrysler bailouts
Detroit's Big Three automakers came closer than America realized to becoming the Big Two. General Motors Corp. ended merger talks with Chrysler LLC in November 2008 to focus on getting emergency federal aid, but Chrysler continued to believe a tie-up with GM was its best chance for survival. The GM-Chrysler tale is among new details that emerged in Detroit News interviews with more than a dozen insiders -- automakers as well as government officials -- over the past two months.
Ford's progress reflected in stock's rally
A year ago, Ford Motor Co.'s stock was struggling to get back above $1.50 a share, a few days after slamming into the bottom at $1.01 a share. What a difference a year makes. On Monday, shares in the Dearborn automaker closed up 9 cents at $8.73.
GM looks for Opel help in Europe
General Motors Co. is appealing to European governments to help finance a $5 billion restructuring for Adam Opel GmbH after deciding this month to keep the troubled German carmaker.
Forecast: Slow recovery could delay GM, Chrysler plans to go public
Auto sales will continue to recover slowly in 2010, which could hamper cash flow and efforts by General Motors and Chrysler to rebound, according to a forecast released Monday. - 6:02 pm
Editor's Choice
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CyberSurvey
Too big to fail?
From your perspective now, was bailing out GM and Chrysler the right thing to do?
Insider Picture Desk
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AP Headlines
Auto News
- GM to present Opel plan to unions on Wed - 06:51 AM
- GM sues over millions spent on steering repairs - 04:29 PM
- GM wants gov'ts to help pay $4.9 bn restructuring - 11:36 AM
- Holidays will again test NYC air travel bottleneck - 07:54 AM
- UConn: Merger with Hartford Hospital not feasible - 07:36 PM
Business
- Stock futures little changed ahead of open - 07:55 AM
- Citigroup sells Diners Club N. American ops - 07:49 AM
- Hormel 4Q profit rises 50 percent, but sales slip - 07:49 AM
- Heinz 2Q profit falls, but sales improve - 07:47 AM
- Video: Ford's most advanced assembly plant operates in rural Brazil
- Special report: Success in South America
Obama task force worked fast, hard on auto rescue
Washington -- The Obama administration's Team Auto -- a group of a dozen mostly young Wall Street veterans -- worked grueling hours even by Wall Street standards to do the near impossible: remake and save General Motors Corp. and Chrysler LLC in just five months. - 1:00 am
Howes: Unraveling necessary for Detroit carmakers' future
Daniel Howes: The unraveling began long before Detroit's auto bosses testified to angry congressional committees a year ago this month, the punishing prelude to a revival that remains possible but uncertain. - 1:00 am
GM to present Opel plan to unions Wednesday
Duesseldorf, Germany -- General Motors Co. will present to unions on Wednesday its restructuring plan for the Opel unit, expected to include up to 9,500 job cuts, the carmaker's top official in Europe said Tuesday. - 7:08 am
Renault-Nissan inks electric car deal for China city
Guangzhou, China -- The Renault-Nissan Alliance, the government of Guangzhou Municipality in China and Dongfeng Motor Co., Nissan Motor Co.'s Chinese venture partner, have formed a partnership to promote electric car transport in the city of Guangzhou. - 8:54 pm
Germany warns fellow EU governments against GM jobs aid
Frankfurt -- Germany warned fellow European governments on Monday against offering financial aid to General Motors Europe in exchange for job guarantees, hours ahead of a meeting in Brussels to discuss the future of the company. - 5:42 pm
Ford Motor to invest $2.3B in Brazil
Ford Motor Co. will invest nearly $2.3 billion in Brazil over the next five years to modernize factories and expand production in South America's largest market. - 1:00 am
Burgess: 2010 Nissan 370Z is made for drivers
The 2010 Nissan 370Z roadster advances the stellar 370Z another step with its comfortable ride and rip-roaring, seat-of-your-pants cornering that will leave a big smile on your mug and your hair ruined by the wind. - 1:00 am
- Scott Burgess: Hybrid fused into Milan
- John McCormick: Vehicle safety still has room to improve
- Sneak Peek: 2011 Chevy Aveo
- Extend your car's life with timely maintenance
Burgess: 2010 Nissan 370Z is made for drivers
The 2010 Nissan 370Z roadster advances the stellar 370Z another step with its comfortable ride and rip-roaring, seat-of-your-pants cornering that will leave a big smile on your mug and your hair... - 1:00 am
Continuing Coverage
On The Beat
The Detroit News' autos team
- Bryce Hoffman, Ford Motor Co.
- Robert Snell, General Motors Corp.
- Alisa Priddle, Chrysler LLC, automotive suppliers
- Christine Tierney, foreign automakers
- David Shepardson, automotive policy issues in Washington D.C.
- Scott Burgess, auto critic
- Manny Lopez, auto editor
