As the auto industry decries the White House decision to reconsider California’s push for stricter emission standards, some environmental groups are quick to point out that several automakers have already pledged to meet the proposed guidelines.
Business strategies submitted to Congress, as part of a December bailout debate, by More…
When Senate Republicans last week blocked Democrats’ efforts to bail out General Motors and Chrysler, which say they’re near bankruptcy, the White House was quick to swoop in to announce that it would lend the help that Congress didn’t.
Aside from the comedy surrounding that development (the Bush administration’s original More…
After Senate Republicans dashed the Big Three automakers’ hopes for a congressional bailout last week, General Motors decided it was time to begin seriously exploring a Plan B. Company executives turned to the biggest name in corporate bankruptcy.
Harvey Miller, who has worked on mega-cases like Lehman Bros., Enron and More…
When the chief executives of the Big Three automakers first came to Washington to ask Congress for a $25 billion-bailout, they arrived in town on private jets.
When 16 active and retired members of the United Auto Workers headed to Washington on Sunday night to press the need for government More…
The heads of Detroit’s automakers might be willing to accept $1 salaries as a condition of a federal bailout, but they won’t commit to capping their total compensation, even at $1 million.
So says Rep. Brad Sherman (D-Calif.), a liberal member of the House Financial Services Committee, which hosted the More…
Last month, when Detroit’s Big Three automakers stormed Capitol Hill in search of $25 billion in emergency loans, a number of lawmakers wondered aloud where that figure came from — and whether it would be enough.
It seems there was reason for their skepticism.
Chrysler yesterday afternoon was More…
House Speaker Nancy Pelosi (D-Cal.) on Tuesday ended the speculation that Congress might return to Washington after Thanksgiving if Democrats fail this week to pass legislation to bail out the auto industry, Roll Call reported:
In 1979, with Chrysler at the brink of failure, Lee Iacocca famously cut his salary to $1 per year in recognition of the federal help that eventually saved the company.
Fast forward nearly 30 years, and several lawmakers have put the Iacocca challenge to the CEOs of Detroit’s Big Three, More…
House Financial Services Committee Chairman Barney Frank (D-Mass.) said in no uncertain terms Wednesday that the $25 billion bailout being sought by America’s Big Three automakers would constitute just the first federal offering in what would be a much more expensive rescue plan. Asked by National Public Radio why More…
As the Wall Street bailout program morphs from one helping banks to one benefiting insurers and (perhaps) automakers, the Bush administration is having a hard time explaining what rules are dictating the process — and where it’ll draw lines of eligibility.
It’s an unlikely spot for a conservative White More…
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