Auto News 5

The White House and congressional Democrats on Tuesday night reached an agreement in principle on a $15 billion proposal for bailing out U.S. automakers and forcing them to restructure or fail, officials said. Full story...

The White House and congressional Democrats on Tuesday night reached an agreement in principle on a $15 billion proposal for bailing out U.S. automakers and forcing them to restructure or fail, officials said. Full story...

Former Chrysler Corp. Chairman Lee Iacocca said Detroit 3 leaders should keep their jobs as they seek government aid because they are )x("”",the best shot we have for success. Full story...

Former Chrysler chairman and CEO Lee Iacocca - who took a federal loan to save the automaker three decades ago and paid it back early - has cautioned the government against encouraging the firing of current Detroit Big Three leadership. Full story...

Only a few issues remain to be resolved by congressional Democratic leaders and the White House before lawmakers can vote on emergency aid to General Motors and Chrysler LLC, Senate Majority Leader Harry Reid said today. Full story...

Chrysler LLC, seeking U.S. government loans to stay solvent, said it has canceled plans to develop a small car with China's Chery Automobile Co. Executives from both companies announced yesterday they were ending the venture. Full story...

Chrysler and Chery Automotive have ended cooperation talks, the two companies said separately, both blaming the global economic slowdown. Full story...

Negotiations continued Monday night on legislation that would provide an estimated $15 billion in emergency federal loans to General Motors and Chrysler LLC. Full story...

After Congress told the Detroit 3 CEOs to get back on their private jets and come back with a detailed plan the next time they came asking for a $25 billion loan, it was abundantly clear that GM, Ford and Chrysler had all terribly missed the mark... Full story...

The United Auto Workers union supports an alliance between Chrysler and another automaker provided as as many jobs as possible are preserved, a senior UAW official said at the weekend. Full story...

Here's a big challenge for Ford Motor Co. as it seeks federal aid: Avoid the stench of death that surrounds crosstown rivals General Motors and Chrysler LLC. Ford is losing billions of dollars, and its sales have plunged nearly 21 percent this year. Full story...

Last week, the three domestic automakers headed to Washington in order to present their turnaround plans and ask for billions of dollars in loans to keep them from bankruptcy. Now, the Canadian arms of Ford, General Motors and Chrysler are asking for financial support from the federal and Ontario governments. Full story...

DETROIT -- The exit of 5,000 salaried employees in the past week has created )x("”",chaos” within Chrysler LLC, and the company's suppliers are nervous about a potential bankruptcy filing, according to a report published today. Full story...

Chrysler LLC confirmed today that it had hired global law firm Jones Day to assess financial alternatives -- and said the legal firm's analysis supports the auto industry stance that bankruptcy isn't a viable option. Full story...

Chrysler LLC retained the services of the international law firm Jones Day as bankruptcy counsel several weeks ago, The Wall Street Journal reported today, citing sources familiar with the matter. Full story...

Chrysler LLC CEO Bob Nardelli says 240 Chrysler dealers have been forced out of business this year because they could not get access to adequate financing. Full story...

This time, they left the corporate jets at home and drove for hours all the way from Detroit to the steps of the US Capitol in Washington, DC. General Motors' Rick Wagoner brought the production Chevy Malibu hybrid and prototype Volt (and R&D chief Lawrence Burns), Chrysler CEO Bob Nardelli stepped out of a prototype electric Jeep and Ford's Alan Mulally came in a hybrid Escape. Then, as the Senate Banking Committee hearing came to order, they ate humble pie and encountered scepticism. Halfway through the hearings, there's still no guarantee Congress will agree to bail the Big Three out. Full story...

This time, they left the corporate jets at home and drove for hours all the way from Detroit to the steps of the US Capitol in Washington, DC. General Motors' Rick Wagoner brought the production Chevy Malibu hybrid and prototype Volt (and R&D chief Lawrence Burns), Chrysler CEO Bob Nardelli stepped out of a prototype electric Jeep and Ford's Alan Mulally came in a hybrid Escape. Then, as the Senate Banking Committee hearing came to order, they ate humble pie and encountered sceptism. Halfway through the hearings, there's still no guarantee Congress will agree to bail the Big Three out. Full story...

Chrysler LLC CEO Bob Nardelli told a U.S. Senate committee today he would support a merger with General Motors if it became a condition for government support of the Detroit 3 automakers. Full story...

A Tennessee senator today drove a wedge between Chrysler LLC and its Detroit rivals General Motors and Ford Motor Co. when he charged that Chrysler is only asking for money to tide it over until it is bought by a partner. Full story...