Lets Hang Together or We Will Surely Hang Apart!
Bailouts for Bankers but Nothing for Detroit Automakers?
This is the part of our nation’s surreal economic crisis that seems particularly surreal:
The US auto industry, which employs 3 million Americans in auto plants, parts and supplier networks and dealerships nationwide is broadly understood as being essential to maintaining America as an industrial force.
It’s financial collapse, which [...]
Detroit Auto Industry Is Forever Changed Due to Credit Crunch
LANSING, Mich. — Detroit’s Big Three automakers are forever changed by the current credit crisis, according to a study done by a well-known Michigan economics firm.
The study, from Lansing-based Anderson Economic Group, gives a stark peek into the auto business and reports bankruptcy, radical restructuring [...]
Congress Gives Citibank Bailout Cash But None for Detroit Automakers
The feds pump another $20 billion into teetering Citigroup Inc. and insure $306 billion in bad assets just days after Congress slaps Detroit’s automakers for failing to table “a plan” to justify $25 billion in loans and folks ’round here cry, “Double standard! Double standard!”
Double standard? [...]
Unemployment Benefits Extended
WASHINGTON — President George W. Bush signed a bill Friday that extends unemployment benefits by seven weeks, plus an additional 13 weeks on top of that in hard-hit states such as Michigan.
Michigan’s jobless rate now stands at 9.3 percent.
The additional 13 weeks kick in once the unemployment rate in a state hit 6 [...]
Big Three Automaker Bailout Meets Republican Resistance
WASHINGTON (Reuters) - A key Republican Senator said on Sunday it was “pretty clear” a $25 billion bailout proposal for U.S. automakers will fail in the U.S. Senate, while Democrats argued saving the industry was critical to the U.S. economy.
The Senate is slated on Monday to begin debating emergency [...]
The Cost of GM’s Death
DETROIT, Nov 14, 2008 /PRNewswire via COMTEX/ — The following is being issued by Automotive News:
If Congress thinks a bailout of General Motors is expensive, it should consider the cost of a GM failure. Let’s be clear. The alternative to government cash for GM is not a dreamy Chapter [...]
Obama Victory is a Monumental Moment in American History
It’s political morning again in America. Arguments over flag lapel pins, plumbers and robocalls are fading from memory, and everybody you bump into recognizes that something huge has happened with the election of Barack Obama. In the grocery line, at the post office, over coffee, we all [...]
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