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Bad economy, credit crunch leave auto dealers struggling (The Daily Record)
Simply put, October 2008 is a month auto dealers and manufacturers would rather forget. Nationwide, sales plummeted nearly 25 percent compared to a year earlier. Detroit’s “Big Three” of Ford, General Motors and Chrysler LLC reported a combined loss of $3.29 billion for their most recent quarters.
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'B' word colors talk of auto aid (St. Louis Post-Dispatch)
WASHINGTON — What's so bad about bankruptcy as an alternative to big bailouts for automakers or other critical U.S. companies? Frozen credit and the hardships of a Chapter 11 reorganization make it a tough pill to swallow for struggling industries and their workers.
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U.S. stalls auto aid; Canada looks for solutions (CTV Winnipeg)
As U.S. lawmakers postponed voting on a $25-billion lifeline for the endangered auto sector, Canada's Industry Minister convened with officials in Washington on a fact-finding mission about how to best deal with the crisis.
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American Hypocrisy in Auto Rescue Spurs Me-Too Trade Ire (Update2) (Bloomberg)
Nov. 21 (Bloomberg) -- A U.S.-triggered spate of global carmaker-bailout proposals may spark trade disputes over whether the Americans are unfairly trying to subsidize their industry or just making up for state aid foreign rivals already enjoy.
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Opel Dealers Want GM's Euro Arm (Forbes)
German auto traders may ''seriously'' make a bid for General Motors division.
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Opel Dealers 'Eyeing' GM's Euro Arm (Forbes)
Auto dealers have discussed making a bid for the General Motors division, according to German press reports.
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U.S. stocks slide as auto bailout this year in doubt (Reuters via Yahoo! News)
Fears of a deep, long global recession intensified on Thursday as stock markets hit new lows on reports of more U.S. job losses and oil prices below $50 a barrel, as prospects dimmed for a bailout of U.S. automakers.
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East Valley auto dealers want Congress to act (East Valley Tribune)
As talks broke down Wednesday in Washington, D.C., over a proposed federal bailout for Detroit's Big Three auto manufacturers, some East Valley dealers worried the do-nothing strategy could negatively affect them.
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Auto aid plan heads for defeat as Big Three teeter (The Washington Times)
A Democratic Congress, unwilling or unable to approve a $25 billion bailout for Detroit's Big Three, appears ready to punt the automakers' fate to a lame-duck Republican president. Caught in the middle of a who-blinks-first standoff are legions of manufacturing firms and auto dealers _ and millions of Americans' jobs.
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GM asks Germany for €1 billion credit guarantee (International Herald Tribune)
As Detroit auto executives prepared to make a new plea for aid to Congress, General Motors asked for a €1 billion credit guarantee from the German government.
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