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Bailout Bill Dead; And We're Consuming Less Oil
4 hours 37 min agoUPDATE: The Bailout bill has failed in the Senate. We'll have more on the story as it develops, below is Todd Lassa's blog from earlier in the day Thursday. DETROIT - This just in: Majority Leader Harry Reid (D-Nevada) says there's progress in a...
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President-elect Obama, Your New Chrysler 300 is, er, Fiberglass...for Now
4 hours 37 min agoDETROIT - Will Chrysler LLC be around long enough to build the 2011 Dodge Charger and Chrysler 300? (Editor's note, a present Chrysler 300 is pictured) Will Chrysler factories reopen after its extended holiday shutdown, which begins Friday? I don't know....
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Chrysler Shuts For A Month and Chevy Volt Engines Delayed
4 hours 37 min agoChrysler LLC said Wednesday that it will shut down all its North American production for at least one month starting December 19. Both Chrysler and GM are having to cut deeply into expenses as they await news on a government loan package from the White...
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Has The Tide Turned In Favor of The Detroit Three?
4 hours 37 min agoDETROIT - Polls have turned, a bit, in favor of the Detroit Three. CNN reported 61-percent opposition to federal loan guarantees for General Motors, Ford Motor and Chrysler LLC last month. Just 39 percent were in favor. By the time Rick Wagoner, Alan...
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Bush Saves GM and Chrysler at the Last-Minute, for Obama
4 hours 37 min agoDETROIT - The city is shutting down thanks to a snowstorm that will keep at home those who weren't already on an early Christmas vacation. The pall cast over Metro Detroit for the last couple of months has lifted a bit, as President Bush announced...
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Beware the Ides of March 31: Toyota's Reversal Proves it's About More Than Cars
4 hours 37 min agoDETROIT - So March 31 turns out to be the big day. It's the day Toyota Motor Company expects to post its first-ever loss, $1.66- to $1.68-billion for the fiscal year, depending on whose rounding and yen-to-dollar conversions you believe. Toyota...
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It May Not Be Bankruptcy, but Chrysler Deconstruction Inevitable
4 hours 37 min agoBy Bill Visnic President George W. Bush finally released the crucial billions needed to keep General Motors Corp. and Chrysler LLC around to see the new year, but with the real work just beginning, the wrenching save-Detroit soap opera seems to be...
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Kerkorian Out of the Ford Business
4 hours 37 min agoDETROIT???Billionaire financier Kirk Kerkorian has sold the remainder of his investment in Ford Motor Co. Tracinda, which briefly ranked as Ford's largest outside investor earlier this year, said in a regulatory filing in October that it had begun working...
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Top 10 People We Watched in 2008
4 hours 37 min agoDETROIT - You don't need a reminder of how bad 2008 was for the auto industry. General Motors, Chrysler LLC and Ford Motor Company were the poster children for what has happened to American manufacturing as we shifted to a nation that runs on the...
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Chrysler's 'Thank You' Ads: Not the Best Idea
4 hours 37 min agoBy Bill Visnic Readers of the nation's major newspapers -- those still reading paper, anyway -- by now have seen splashy full-page ads from Chrysler LLC thanking "America" for its bailout-investment in the company. No harm in being contrite, but just like...
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US service sector improves slightly in December; factory orders, pending homes remain weak
Tue, 01/06/2009 - 13:00WASHINGTON (AP) — A measure of the U.S. services sector improved slightly in December, beating analysts' estimates, but pending home sales and factory orders both fell more than expected and the overall economic outlook remains grim. In a reading...
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US auto sales tumble 18 pct in 2008; GM sells fewest vehicles in 49 years
Tue, 01/06/2009 - 06:35DETROIT (AP) — After a year in which U.S. auto sales tumbled 18 percent and GM had its worst year in nearly a half-century amid slack demand fueled by a terrible economic outlook and growing job worries, automakers are reluctant to predict when a...
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US auto sales drop in 2008, recovery unclear
Tue, 01/06/2009 - 05:38After a year in which U.S. auto sales tumbled 18 percent and GM had its worst year in nearly a half-century amid slack demand fueled by a terrible economic outlook and growing job worries, automakers are reluctant to predict when a recovery might occur....
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By The Numbers - 2008: Phew! Glad That's Over Edition
Tue, 01/06/2009 - 05:36Filed under: By the NumbersWe didn't know sales for the U.S. auto industry in 2008 would be this bad when the year began, but it sure ended on a fitting note. Over the past six months or so we've seen the U.S. auto sales market nearly collapse and...
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General Motors sales in China rise 6 percent in 2008 but growth rate slows
Tue, 01/06/2009 - 05:17BEIJING (AP) — General Motors Corp. said Tuesday its sales in China rose 6 percent to 1.09 million vehicles in 2008, but growth slowed as consumers held back amid an economic downturn. GM is looking to China's booming auto market to drive global...
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Toyota to suspend production for 11 days in Japan in Feb-March amid faltering global demand
Tue, 01/06/2009 - 04:31TOKYO (AP) — Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand. The last time Toyota Motor...
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Toyota to suspend production for 11 days in Japan
Tue, 01/06/2009 - 02:20Toyota is suspending production at all 12 of its Japan plants for 11 days over February and March, a stoppage of unprecedented scale for the nation's top automaker as it grapples with shrinking global demand. The last time Toyota Motor Corp. halted...
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GM says China '08 sales up 6 pct but growth slows
Tue, 01/06/2009 - 02:18General Motors Corp. said Tuesday its sales in China rose 6 percent to 1.09 million vehicles in 2008, but growth slowed as consumers held back amid an economic downturn. GM is looking to China's booming auto market to drive global sales growth as demand...
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Automakers report a cold December
Tue, 01/06/2009 - 01:00Chrysler LLC's December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008 as consumers remained uncertain about the economy and their jobs, dwarfing the steep declines at the other major automakers. Chrysler said Monday...
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7 banks get $15B from Treasury
Tue, 01/06/2009 - 01:00The government said Monday it had supplied another $15 billion to seven banks in the latest round of payments from the $700 billion rescue fund. The Treasury Department said the biggest payment in the new round totaled $7.58 billion to Pittsburgh-based...
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