Auto bailout could be tied to gov’t-run overhaul. News from WASHINGTON — The government would order a major restructuring of Detroit’s struggling Big Three auto companies in exchange for a multibillion-dollar bailout under a plan circulating in Congress.
Senate Banking Committee Chairman Sen. Christopher Dodd, D-Conn., shakes hands with Chrysler Chief Executive Officer Robert Nardelli, right, [...]
Opec organizes conference to discuss cut in output as oil price hits the lowest level. News detailed as follows: Oil prices plunged below $85 a barrel yesterday, the lowest level in a year, as Opec, the oil exporting countries’ cartel, called an emergency meeting to discuss reducing its crude production to halt the collapse in [...]
General Motors Don’t Believe in Auto-asphyxiation While Dow Jones Industrial Average Trading at a Hair. OK. The news details are as follows: The Dow Jones Industrial Average was trading at a hair above 200 points, the Soviets had just declared themselves a nuclear power and the US population was half of today’s level. Much has [...]
Chrysler yesterday sued Getrag in Michigan, alleging that the German supplier failed to raise up to $300 million in debt financing necessary to build and equip a plant in Tipton, Ind., to produce the transmissions.
Chrysler LLC’s source of dual-clutch transmissions in the United States is jeopardized by a factory-building dispute with supplier Getrag Transmission Manufacturing [...]