Tag Archives: Auto Bailout

Wagoner Forced Out at G.M.

With President Obama scheduled to talk tommorow about bailouts for both G.M. and Chrysler it was announced tonight that Rick Wagoner was stepping down as CEO of G.M., effective immediately. The news was leaked by White House sources, as was … Continue reading

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G.M. Post 30 billion Dollar Loss

General Motors posted a $30.8 billion dollar loss for 2008, burning through over $6 billion in cash. The company will meet today with Obama Administration officials as it continues to struggle to restructure itself to try to return to profitability. … Continue reading

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G.M. and Chrysler Ask for More Help

Both G.M. and Chrysler tonight filed plans required of them by the federal government pursuant to the loans they took back in December. In terms of the financial requests being made G.M. is seeking an additional $16.6 billion in federal … Continue reading

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G.M. on the Brink

General Motors, under federal deadline to produce a business plan that will show a path to viability, is likely to ask for additional funds on top of the $13.4 billion already committed by the U.S. government. G.M. will also present … Continue reading

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Bush to the Rescue?????

President Bush appears to be moving towards offering some relief to the auto industry, as he has reportedly dropped his opposition to utilization of the T.A.R.P. funds allocated by Congress earlier this year. Talks have begun, with details hard to … Continue reading

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Auto Talks Collapse in Senate

Negotiations in the United States Senate over the bill to provide government assistance to U.S. automakers collapsed tonight, a victim of disagreement over wage concessions by the U.A.W. The Republicans in the Senate appear prepared to roll the dice on … Continue reading

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The Real Numbers in Auto Wages

Yesterday’s New York Times had an interesting analysis of auto wages, and the disparity between the U.A.W. organized plants and the non union manufacturers. The Times story refers to the $73 an hour wage rate often cited by those folks … Continue reading

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