Big 3 carmakers beg for $25B, warn of catastropheDetroit's Big Three automakers pleaded with a reluctant Congress Tuesday for a $25 billion lifeline to save the once-proud titans of U.S. industry, pointedly warning of a national economic catastrophe should ...
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.
Big Three beg for aid as bailout bill stallsDetroit's Big Three auto makers are begging Congress for a $25 billion government rescue, while the legislation clings to life support on Capitol Hill and top lawmakers and the White House suffer from bailout ...
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 shows 3 new models for China General Motors Corp. put three new models for China on show Tuesday, maneuvering to keep its edge in a market vital to its future as it struggles for survival back home.
The massive Buick Enclave SUV, sporty Chevrolet Cruze sedan and zippy but powerful Cadillac CTS-V unveiled in this aspiring auto industry hub in southern China are meant to cover the whole range of potential customers in China _ from the wealthy pleasure-seeker to young professionals buying their first vehicles.
'China is very, very important to us when you talk about the emerging markets,' said Robert Socia, vice president of Shanghai General Motors, one of GM's eight joint ventures in China. 'We're expanding very, very fast here and we're going to continue to do that.'