Big Three Automakers seek $50 Billion in Federal Loans to Help Retool Plants
WASHINGTON — Detroit’s Big Three automakers are planning an aggressive push on Capitol Hill as they seek up to $50 billion in low-cost loans to speed the development and production of more fuel-efficient vehicles.
General Motors Corp., Ford Motor Co. and Chrysler LLC would [...]

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Oil Makes Record One Day Drop
Oil prices tumbled more than $6 a barrel Friday — the biggest one-day percentage plunge in nearly four years after a rebounding dollar and a Russian troop pullback in Georgia sparked another frenzied sell-off.

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Housing Prices Are Falling With No End in Sight
Does it Make Financial Sense to Try and Save Your Home?
These days many homeowners are justifiably very nervous about their homes.
Mortgage pillars Fannie Mae and Freddie Mac are on the verge of financial meltdown and Federal Bailout.
Transportation, energy, food costs, and unemployment are rising.
More people out of [...]

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Mortgage Giants Stocks Plunge on News of Federal Bailout
NEW YORK (CNNMoney.com) — Shares of mortgage finance giants Fannie Mae and Freddie Mac, suffering their worst day since a mid-July free fall, plunged Monday to their lowest points in nearly two decades.

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Russia Lashes Out of Missile Shield Deal in Poland
WASHINGTON — The United States and Poland reached a long-stalled deal on Thursday to place an American missile defense base on Polish territory, in the strongest reaction so far to Russia’s military operation in Georgia.
Russia reacted angrily, saying that the move would worsen relations with the United [...]

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Foreclosures Increase 55% and Home Values Continue Fall
12.7% of U.S. Homeowners Will Be Forced Out of Their Homes!
Aug. 14 (Bloomberg) — Banks repossessed almost three times as many U.S. homes in July as a year earlier and the number of properties at risk of foreclosure jumped 55 percent as falling prices made it harder to [...]

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Chrysler Announces Plans to Retool and Expand Jefferson North Assembly
TRAVERSE CITY — Chrysler LLC said Wednesday it would invest $1.8 billion retooling and expanding its Jefferson North Assembly Plant to build a new car-based sport utility vehicle to be sold under the Jeep nameplate.
The company’s vice chairman and president, Tom LaSorda, said the money would [...]

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