Detroit

Stories 441 - 460 | << Prev   Next >>

Chrysler Wants $1.5B More for Auto Loans

(Newser) - Chrysler, which has received $4 billion in federal money for its manufacturing operations and $1.5 billion for lending, wants another $1.5 billion for its loan arm, the Detroit Free Press reports. “We’ve gone to Treasury and said we need to re-up that amount,” Chrysler’s...

Bankruptcies Could Boost US Car Sales

Restructuring could convince consumers to take a chance, say marketers

(Newser) - Contrary to what GM and Chrysler contend, bankruptcies could actually end up boosting their sales. Customers who backed away from the brands amid uncertainty may return once the future is known—even if it's one that entails Chapter 11, marketers tell Advertising Age. Case in point: Studebaker lasted 30 years...

Autoworkers, Bankers Have a Lot in Common
Autoworkers, Bankers Have a Lot in Common
OPINION
Feb 18, 2009 9:11 AM CST

Autoworkers, Bankers Have a Lot in Common

Exorbitant pay of both brought down their respective industries

(Newser) - They may not seem all that similar, but Detroit’s autoworkers and Wall Street’s bankers have the same story, writes Steven Pearlstein in the Washington Post. From the 1950s up until, say, yesterday, "autoworkers were the aristocrats of the blue-collar world, (and) Wall Street traders and investment bankers...

GM, Chrysler: Bailout Is Bad, but Bankruptcy Is Worse

(Newser) - The restructuring plans unveiled by GM and Chrysler make one thing clear: the cost of bailing out the companies has jumped $14 billion to a total of $39 billion. But as the White House begins to pick through the plans, the companies say it would be far more expensive if...

Captive Woman Forced to Wear Diaper, Listen to Bible Verses

Ohio police say she was held 3 days

(Newser) - A Michigan woman kidnapped last week was held against her will for three days as her captor read the Bible to her, police say. The alleged assailant picked up the woman in Detroit and drove her to his home in Toledo, the AP reports. When she fell asleep, he undressed...

GM Wants $16B More, Will Cut 47K Jobs

(Newser) - GM says it will need an additional $16 billion in federal aid to stay afloat, the Detroit News reports. The automaker laid out its restructuring plan for the Obama administration today, requesting $2 billion next month and another $2.6 billion in April to avoid bankruptcy. GM also will shed...

Chrysler Seeks $5B More in Federal Loans

(Newser) - Chrysler says it will need a total of $9 billion in federal loans to avoid going bust, up $5 billion from the amount it received in December and $2 billion from its original request, CNN reports. The company also plans to cut 3,000 jobs this year, or 6% of...

NASCAR Needs to Rev Up
 NASCAR Needs to Rev Up 
ANALYSIS
Feb 13, 2009 4:18 PM CST

NASCAR Needs to Rev Up

Sport cuts costs to keep fans at the races

(Newser) - The US auto industry is teetering on the brink of destruction—and NASCAR isn't too far behind it. The Daytona 500, NASCAR’s Super Bowl, takes place Sunday, but business is stalling, leaving the costly sport looking for a lift, Sean Gregory and Steve Goldberg write in Time. “We...

GM Hacks 14% of Salaried Jobs
 GM Hacks 14% of Salaried Jobs 
Feb 10, 2009 8:27 AM CST

GM Hacks 14% of Salaried Jobs

(Newser) - GM will cut 10,000 jobs this year, including 3,400 in the US, the Wall Street Journal reports. The cuts represent 14% of GM’s salaried workforce overall, and 12% in the US. Most of those lucky enough to survive the axe will get a 3%-7% pay cut, while...

Ex-Detroit Mayor Kilpatrick Out of Jail

99 days in jail on obstruction, assault charges for 38-year-old

(Newser) - Former Detroit Mayor Kwame Kilpatrick is a free man once again, the News reports. Kilpatrick left prison at 12:35 this morning, after spending 99 days of a 4-month sentence in an isolated cell on obstruction of justice charges related to an affair he had with his chief of staff....

Fiat, Chrysler Talk Partnership
 Fiat, Chrysler Talk Partnership 
Jan 19, 2009 1:39 PM CST

Fiat, Chrysler Talk Partnership

Deal could allow US firm quick access to small-car parts

(Newser) - Chrysler is in talks with Fiat to form a partnership that could boost the troubled automaker, Automotive News reports. In the deal, Fiat may offer Chrysler access to its platforms, engines, and transmissions for smaller cars, enabling Chrysler to quickly put out a new line of front-wheel-drive, low-emissions vehicles. Fiat...

Resilient Detroit Will Come Back Strong
Resilient Detroit
Will Come Back Strong
OPINION
Jan 13, 2009 5:52 PM CST

Resilient Detroit Will Come Back Strong

Detroit and its automakers won't quit at any cost

(Newser) - When Congress bailed on aid for Detroit automakers last month, it felt like lawmakers "had just voted to turn the lights out on the Motor City," Detroiter Sarah Webster writes in the Free Press. But even as the Big Three dance dangerously close to bankruptcy, she refuses to...

Motown Giants Mark 50 Years of Music

Abdul "Duke" Fakir: Studio A is hallowed ground

(Newser) - Musical legends gathered today at Hitsville, USA—Motown Records' original headquarters—to celebrate the Detroit label's 50th anniversary, Billboard reports. The Four Tops' Abdul "Duke" Fakir was joined by musicians from bands such as the Miracles and Martha & the Vandellas to pay tribute to Barry Gordy, who started...

Chrysler Eyes Electric Rollout in 2010

Automaker will highlight 4 concepts at the Detroit auto show

(Newser) - Struggling Chrysler is underscoring its green-friendly efforts just ahead of the Detroit auto show, reports the Detroit News, promising to have an electric car in production by 2010. Though a rep said he was “not allowed to” reveal any information about the model, the automaker will reveal a battery-powered...

IRS Notice Stuns Lawyer: 'You Owe Us a Penny'

(Newser) - Washington may be loaning billions to automakers, but a Detroit lawyer? He has to pay an IRS bill of 5 cents, the Detroit Free Press reports. James Howarth was busy tallying the cost of paying his debt—which is "several hundred percent over the nickel," he said—...

Car Tech Advances Can Recharge Detroit
Car Tech Advances Can Recharge Detroit
OPINION
Jan 3, 2009 11:54 AM CST

Car Tech Advances Can Recharge Detroit

(Newser) - Detroit needs to heed Henry Ford's advice and take failure as "the opportunity to begin again more intelligently," Sebastian Thrum and Anthony Levandowski write in the New York Times. Here are four technologies that can help the Big Three automakers turn things around:
  • Car-to-car communication: Wireless technology will
...

Ford to Offer Self-Park Cars; Kerkorian Sells Stake

New Lincoln MKS models will park themselves in effort to woo car buyers

(Newser) - Ford plans to offer two models with a self-parking function at the Detroit auto show next month, the Wall Street Journal reports, in the continuing effort to woo buyers with new technology. But  the company's image among investors remains tarnished, as billionaire Kirk Kerkorian confirmed yesterday that he sold his...

Like the Big 3, Detroit Is Dying
 Like the 
 Big 3, 
 Detroit 
 Is Dying 
analysis
Dec 26, 2008 7:37 PM CST

Like the Big 3, Detroit Is Dying

(Newser) - The Big Three automakers are broke and begging for cash, but that's typical when you're from Detroit, Matt Labash writes in The Weekly Standard. He prepped for his visit to Dysfunction Junction by reading nightmarish stats: The city has 10,000 unsolved murders; its deficit is as high as...

No Hope for Detroit Until We End Rip-Off Financing

The indebted consumer can't afford cars

(Newser) - Congress' plan to bail out Detroit ignores one fundamental problem: Americans owe so much on their current cars—often more than the vehicles are worth—that they can't buy new ones, writes Stephanie Mencimer in Mother Jones. Detroit—along with the "great scourge of the American consumer market: the...

Canada Pledges $3.3B Aid for Automakers

Feds, Ontario grant emergency loans for its subsidiaries

(Newser) - A day after President Bush offered a bailout to American automakers, Canada announced plans to follow suit. The federal and Ontario governments will grant GM and Chrysler’s Canadian subsidiaries $3.3 billion ($4 billion in Canadian dollars), the Globe and Mail reports. “We cannot afford either in the...

Stories 441 - 460 | << Prev   Next >>
Most Read on Newser