auto industry

DETROIT — As more U.S. buyers head back into auto dealerships, automakers are jostling for their attention with sweetened deals.

Audio Included in Post. Runs 28 Minutes. President Barack Obama and Vice-President Joe Biden visited Kokomo Indiana Tuesday. The President highlighted the positive impact his Administration’s economic policies have had in helping bring jobs and development to Kokomo and how those policies helped save and stabilize the American automotive industry.  The President also announced that […]

From Time.com: One of the women who took Barack Obama on a tour of the Jeep Grand Cherokee assembly line Friday wore a t-shirt with the president’s image that read “Our Dreams Do Come True.” A few miles away, at the Hamtramck General Motors plant, workers brought in red-white-and-blue pom poms to celebrate his arrival. […]

Detroit automakers got public reassurance Monday from President George W. Bush that short-term government help for the industry is in the works and could come soon.

Their efforts in Congress squashed, U.S. automakers are depending upon a reluctant White House to quickly provide a multibillion lifeline to help them avoid imminent collapse.

A House-passed bill to speed $14 billion in loans to Detroit’s automakers stands on shaky ground in a bailout-weary Congress, undermined by Republican opposition that could derail the emergency aid in the Senate.

A government “car czar” with the power to force U.S. automakers into bankruptcy would dole out $15 billion in emergency loans to the failing industry under an emerging deal between the White House and congressional Democrats.

A bailout plan for the failing U.S. auto industry could include a Cabinet-level oversight board and a provision to withdraw the money if the overseers decide the companies are failing to take steps to overhaul themselves.

The chairman of the House Financial Services Committee says the new bleak unemployment figures makes helping the nation’s beleaguered auto industry even more urgent.

The foundations of American industry, in theory, are trustworthy, sensible concepts. For one, the enterprising businessperson should have an impervious work ethic. In addition, responsible financial practices (saving, lending, earning) should underpin any viable business. Lastly, many of our business models have failure and risk built in, and that’s all right. Preparing for failure is […]