Lets Hang Together or We Will Surely Hang Apart!
Home Prices Continue Slide Down
NEW YORK — A closely watched index shows home prices dropped by the sharpest annual rate on record in October.
The Standard & Poor’s/Case-Shiller 20-city housing index released Tuesday fell by a record 18 percent from October last year, the largest drop since its inception in 2000. The 10-city index tumbled [...]
Banks Won’t Reveal Where Federal Bailout Money Has Gone
WASHINGTON – It’s something any bank would demand to know before handing out a loan: Where’s the money going?
But after receiving billions in aid from U.S. taxpayers, the nation’s largest banks say they can’t track exactly how they’re spending the money or they simply refuse to discuss [...]
Motor City’s Woes Extend Beyond Ailing Auto Industry
DETROIT (AP) — One measure of how tough times are in the Motor City: Some of the offenders in jail don’t want to be released; some who do get out promptly re-offend to head back where there’s heat, health care and three meals a day.
For now, better times [...]
Big Three Bailout is Near
DETROIT, Dec 18 (Reuters) - General Motors Corp and Chrysler LLC made significant progress late Thursday on a deal to secure emergency loans as part of a U.S. government aid package, people familiar with the talks said.
The package would demand sweeping restructuring at the troubled automakers in exchange for bridge loans [...]
Chrysler Closing All Auto Plants for a Month, GM Delaying Volt Factory
Dec. 17 (Bloomberg) — Chrysler LLC, awaiting a federal rescue as its cash dwindles, will shut all 30 of its plants for at least a month starting Dec. 19 as unsold cars and trucks pile up at showrooms.
Production won’t resume until Jan. 19 at [...]
Auto Loans Could Come By Friday
WASHINGTON — Treasury Department officials are weighing the condition of the nation’s banks before they loan money to General Motors Corp. and Chrysler LLC, possibly by Friday.
Treasury Secretary Henry Paulson said automakers would soon get emergency loans but the department is still asking detailed questions of automakers before it allocates [...]
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