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...

Jill Schlesinger: Pay Czar Feinberg Speaks and Wall Street Cringes

Channeling his inner Russian emperor, Pay Czar Kenneth Feinberg's compensation edict shook top executives at some of the nation's biggest banks. The Special Master will... Channeling his inner Russian emperor, Pay Czar Kenneth Feinberg's compensation edict shook top executives at som...

Les Leopold: Obama's Pay Cuts Let Big Boys off the Hook

You knew this was coming. The Obama administration had to come down hard on the companies that received the most obvious bailouts -- Bank of... You knew this was coming. The Obama administration had to come down hard on the companies that received the most obvious bailouts -- Bank of America Cor...

Allison Kilkenny: Goldman Sachs Skirts Slashes In Compensation

The Obama administration has ordered pay cuts at seven companies with bailout aid, according to The New York Times:The plan, for the 25 top earners... The Obama administration has ordered pay cuts at seven companies with bailout aid, according to The New York Times:

Administration Plans Big Pay Cuts At Bailout Firms

The seven companies are: Bank of America Corp., American International Group Inc., Citigroup Inc., General Motors, GMAC, Chrysler and Chrysler Financial. A spokeswoman for Chrysler Financial declined comment. A Chrysler spokeswoman did not immediately comment.

Steven Rattner: GM Had "Stunningly Poor Management"

Rattner said the task force was divided on whether to save Chrysler. Chrysler was poorly run during its alignment with Daimler AG, and "larded up with debt, hollowed out by years of mismanagement, Chrysler under (private equity firm) Cerberus never had a chance."

Scott Burgess: Consumer Reports Floored By High-Tech Brakes After Toyota Recall

The recent recall by Toyota of 3.8 million of vehicles has a lot of people scratching their heads; Floor mats, really? 2005 - 2010 Toyota Avalon 2007 - 2010 Toyota Camry 2004 - 2009 Toyota Prius 2005 - 2010 Toyota Tacoma 2007 - 2010 Toyota Tundra 2007 - 2010 Lexus ES350

Terry Krepel: Our Newsmax Problem

The chaos from the anti-American presidency has not even begun. Whose interest was President Obama serving when on March 30 he ordered Chrysler to either conclude a merger with Italian automaker Fiat within 30 days or lose federal bailout funds which would lead to its immediate demise? [......

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...

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...

Obama Denies Bailout Funds For Automakers

WASHINGTON — The White House says neither General Motors nor Chrysler submitted acceptable plans to receive more bailout money, setting the stage for a crisis in Detroit and putting in motion what could be the final two months of two American auto giants. More on Auto Bailout

Obama Admin Likely To Ask For More Concessions From Automakers In Exchange For Federal Aid

DETROIT — The Obama administration is likely to impose deeper concessions on Chrysler LLC and General Motors Corp. in exchange for additional federal loans, a person briefed on the government's plan said Friday. GM owes roughly $28 billion to bondholders, while Chrysler owes about $7 bi...

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.