U.S. stocks fall to lowest in five-plus yearsU.S. stocks plunged to their lowest in 5A1 2 years on Wednesday as investors girded for a lengthy economic downturn and automotive executives predicted a far-reaching calamity without a government lifeline.
Slowdown saps promise of emerging auto markets Smoke and flashing lights, dancing girls in white go-go boots _ the world's top automakers put on dazzling shows Tuesday as they wooed Chinese buyers with their latest models.
But for all the flash at this year's Guangzhou Auto Show, automakers face a dimmer outlook for global sales, even here in the world's second-largest vehicle market.
Just as General Motors Corp. and other manufacturers are desperately looking to emerging markets to compensate for falling sales in the U.S., Europe and Japan, potential car buyers in China, Russia and other once sizzling markets are pulling back.
Bailout with a price: Chapter 11 bankruptcy Mention a corporate bailout in the nation's capital these days and chances are someone will offer a harsh condition to go along with it. Chapter 11 bankruptcy.
Lately, the term 'prepackaged bankruptcy' has been gaining currency in the halls of Congress as lawmakers struggle with pleas for help from the auto industry.
The idea, embraced by some Democrats and Republicans, would extend taxpayer help in exchange for a company undergoing an accelerated Chapter 11 reorganization. The arrangement could represent a model, or a deterrent, for any other strapped companies considering seeking government help.
GM, Chrysler scale back glitz at LA auto showChrysler and General Motors are still showing off their newest vehicles at the Los Angeles Auto Show, but their displays were noticeably quiet Wednesday while Asian and European companies unveiled new models ...
Banks and autos undermine U.S. stocksU.S. stocks were tumbling Wednesday afternoon, led by shares in U.S. banks and the big three automakers.
