Robert Reich: Obama, China, and Wishful Thinking About American Jobs

The dirty little secret on each side of the Pacific is that both America and China are capable of producing far more than their own consumers are capable of buying. The root of the problem is in domestic inequality. President Obama says he wants to "rebalance" the economic relationship betw...

GMAC CEO Alvaro de Molina Steps Down

GMAC provides the financing for dealers and customers of GM and Chrysler and its survival is a crucial part of the Obama administration's restructuring of the auto industry. Carpenter said in an interview that providing auto financing is the company's No. 1 priority. Paying back the feder...

Geithner Singled Out In TARP Watchdog's Scathing Report On AIG Bailout

Throughout the bailout of AIG, the report says, the New York Fed failed to develop appropriate contingency plans; properly assess the impact of its decisions; and generally engaged in negotiation strategies that were doomed to fail.

Ginna Kelly: Climate Change Threatens Our National Security

On October 6th, 2009, I listened to Senator John Warner speak to the climate change-national security case at the Chrysler Museum in Norfolk, Virginia. Senator John Warner, who spent thirty years in the U.S. Senate, is working with the Pew Environment Group, touring the country to talk abo...

Ford Posts $1B Profit In Third Quarter, Forecasts A "Solidly Profitable" 2011

Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM and Chrysler did. Ford grabbed sales from its rivals, posting the largest increase in market share of any automaker in September. Ford expects an o...

Stewart Acuff: Fundamental Healthcare Reform Now.

• An employer mandate. It is critical that employers all provide health insurance for their employees. It makes no sense that Ford, GM, and Chrysler pay $1500 - $2000 more for every car they manufacture in healthcare costs than Honda, Nissan, BMW, and Mercedes.

CIT Bankruptcy Filed: US Will Likely Lose $2.3 Billion, Goldman Sachs Will Gain $1 Billion

The Chapter 11 filing is one of the biggest in U.S. corporate history. CIT's bankruptcy filing shows $71 billion in finance and leasing assets against total debt of $64.9 billion. Its collapse is the latest in a string of huge cases driven by the financial crisis over the past two years, as baile...

Ford Workers Reject Contract changes

Ford sought the deal to bring its labor costs in line with Detroit rivals Chrysler Group LLC and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection earlier this year. Under pattern bargaining, the three automakers usually match pay,...

James Hoggan: Astroturf King Jack Bonner's Long History of Deceitful "Grassroots" Lobbying

One such Bonner client is the American Coalition for Clean Coal Electricity (ACCCE), a coal industry front group fighting vigorously against Congressional efforts to put a price on carbon dioxide, the main greenhouse gas responsible for man-made climate change.

Scott Burgess: Money Doesn't Buy Reliability

America’s other carmakers – GM and Chrysler – didn’t fair as well, with GM showing some mixed results and Chrysler taking up three of the bottom four brands (out of 37 total, ouch). However, European carmakers mirrored American manufacturers without as much of a sliding reputation.

Robert Scheer: Lieberman Twists the Knife

Maybe he can also take some time then to justify his strong support for the government bailout of troubled banking and insurance companies that has tripled the federal deficit this year to $1.4 trillion. Is AIG not now a "government-run insurance company," and doesn't the $185 billion of t...

Marshall Auerback: Happy Halloween: Pay Curbs are a Trick on the Taxpayer, Not a Treat

The Fed has other big ideas: Federal Reserve Chairman Ben S. Bernanke has also called on Congress to ensure that the costs of closing down large financial institutions are borne by the industry instead of taxpayers. He has called for a "credible process" for imposing losses on the sharehol...

Michael B. Laskoff: Obama Strikes Back -- First Year Agenda, Phase III

Before delving Phase III, let's review what has already happened. Phase I was Camelot: Obama and team used blinding speed and overwhelming public popularity to push through reforms. GM and Chrysler were put into bankruptcy and taken right back out (in record time). The financial system wa...

Rep. Edolphus Towns: AIG's Misguided TARP-Funded Bonuses

The American people were justifiably outraged when they learned earlier this year that American International Group (AIG) would pay $165 million in bonuses to executives... The American people were justifiably outraged when they learned earlier this year that American International...

The Media Consortium: Weekly Audit: Dismantling the Wall Street Casino

The government's hands-off approach to AIG employment contracts is a rather flagrant display of deference to executives. Nothing stopped the government from renegotiating contracts for union laborers when it bailed out Chrysler and GM, as Dean Baker notes for The American Prospect.

Stuart Whatley: Executive Pay Cuts? Hold the Standing Ovation

While the firms in question -- Citigroup, AIG, Bank of America, Chrysler and GM -- are finally getting their due smack-down, Goldman Sachs, JP Morgan and Morgan Stanley are reporting record profits -- which surely will lead to record bonuses down the road -- all while continuing to hoard...

Steve Parker: Should closed car dealers be re-opened by Congress?

The recent forced closing of thousands of new-car dealerships across America, most of them General Motors and Chrysler stores, has prompted strong protest from Washington.... The recent forced closing of thousands of new-car dealerships across America, most of them General Motors and C...

Obama Auto Task Force Comes Out Against Dealer Plan

And Rep. Dan Maffei, a Democrat, told Bloom "the Congress and American people were left in the dark" during the auto industry restructuring. "We don't want a bailout of the auto industry to become a wash out for the auto dealers," Maffei said.

Opinion: Charles J. Brown: Can We Make "Buying American" Cool Again?

We -- all of us, including me -- need to acknowledge our share of the responsibility for having "abandoned Detroit." We need to understand that any effort to rebuild the American auto industry requires each of us to start buying American again.

Opinion: Terry Krepel: Right-Wing Media Won't Concede Obama-Chrysler Dealer Conspiracy Is Bogus

GM, Chrysler Chiefs: Slashing Dealerships Was Necessary

General Motors needed a real bankruptcy, not a political bankruptcy," said Sen. Jim DeMint, R-S.C. The third Detroit automaker, Ford Motor Corp., has not filed for bankruptcy protection and has not taken any federal bailout money. It has also not announced widespread dealership closings.

Chrysler Offering Up To $6,000 In Incentives On 2009 Cars

On Wednesday, the judge overseeing Chrysler's bankruptcy proceedings ruled the automaker can start taking steps toward selling most of its assets to Fiat. The tie-up would add smaller, more fuel-efficient cars to Chrysler's lineup, give it Fiat technology and open new markets for Chr...

Steve Parker: Detroit gets 1% of AIG loans

General Motors and Chrysler have received a total of around $17 billion in loans from the government; Ford wants to be able to draw on... General Motors and Chrysler have received a total of around $17 billion in loans from the government; Ford wants to be able to draw on a $10 billion governmen...

GM, UAW Close To Deal As Deadline Nears For Restructuring Plan

DETROIT — General Motors Corp. and the United Auto Workers were getting close to an agreement on concessions, a person briefed on the negotiations said Tuesday, just hours before GM and Chrysler LLC must submit a restructuring plan to the Treasury Department to justify its federal loans.

Chrysler, Fiat Sign Alliance Plan

The deal means Chrysler, which is fighting off bankruptcy and struggling to sell less fuel efficient larger models, would have access to new markets and cheaper, more environmentally friendly technologies. Chrysler is 80.1 percent owned by Cerberus Capital Management LLP, which acqu...

Opinion: Leo W. Gerard: Toyota Republicans Should Cut Their Own Pay

The Toyota Republicans then conferred the American auto industry to bankruptcy. They said they favored bankruptcy because it would enable the Big Three to break pledges made in labor contracts and promises for health care and pensions made to retirees. More on Auto Bailout

Ford To Idle 10 Plants, GM Halting Construction Of Volt Plant

The lack of consumer credit is hampering sales and forcing the production cuts, Chrysler said in a statement. Chrysler, Jeep and Dodge dealers say they have willing buyers for vehicles, but they can't close the deals, Chrysler said.

Logan Nakyanzi Pollard: Who will be the history makers?

You. Why are GM/Ford/Chrysler in so much trouble? You. You decided you wanted better cars. Why is Obama the next president-elect? You decided you wanted change. Why is there terrorism? Some of you, yes some of you, decided this was a good idea.