Fed to Help The Big 3 Automakers, Likely Bailout GM
US House Speaker Nancy Pelosi has announced today that the big three Detroit automakers will be getting part of the $700 billion government bail out. Pelosi did not confirm how much money the companies...
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Bush approves $17.4B automaker bailout
The Bush Administration today has approved an emergency bail out for the Big 3 US Automakers to the tune of $17.4 billion. Bush said “it would worsen a weak job market and exacerbate the financial...
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February Car Sales Down 41%, Worst in 25 Years
According to newly released data by Autodata, US car sales pumped once again in February by 41% to 688,909 cars, the lowest monthly sales figures since 1981. Deliveries for the month were up 4.9% over...
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GM CEO Rick Wagoner quits from White House pressure
GM CEO Rick Wagoner, 56, has just announced he will be stepping down from his post because of pressure from the Obama administration. Wagoner has worked at GM during his entire career, joining GM’s...
View ArticleCanada says GM, Chrysler plans are inadequate but still awards loans, Obama...
The Canadian government announced plans today to offer GM, Chrysler up to $4 billion in bridge loans to continue operations. Under the announced plan today, the Canadian government will earmark $1...
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Toyota Chooses Microsoft to Power Upcoming In-Car Telematics Systems
The world’s largest carmaker, Japan-based Toyota Motor Corp (TMC), announced a new non-exclusive $12-million partnership with the world’s largest software vendor, Microsoft Corp, that will see...
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