President Bush has unveiled a $17 billion automaker rescue plan that will force the companies to restructure in order to remain competitive. A White House economist and a congressman debate the package. Continue reading
Executives of Detroit’s Big Three auto companies appeared before the Senate Banking Committee Thursday to renew their much-debated request for billions in federal aid. Judy Woodruff reports on the hearing. Continue reading
By the week’s end, lawmakers will review business plans submitted Tuesday by Detroit’s Big Three. Ford CEO Alan Mulally explains his auto company’s proposal to avoid bankruptcy. Continue reading
Editor’s Note: Paul Solman reports on the impact to auto workers.
David Brooks and Ruth Marcus weigh reports that President-elect Barack Obama plans to choose Sen. Hillary Clinton and Timothy Geithner, among others, for Cabinet posts and the search for solutions to the economic crisis. Continue reading
- If There Isn’t a Bailout of the Big Three Auto Firms, What is the Overall Effect on the Government and on Our Economy?
Question/Comment: If there isn’t a bailout of the Big Three auto firms, what is the overall effect on the government and on our economy? Paul Solman: Well, in a time of fearsome recession or worse, the loss of another quarter-million … Continue reading
Auto industry executives testified before Congress Wednesday, asking lawmakers to provide aid to the struggling companies and responding to criticisms of poor management. General Motors’ CEO Rick Wagoner discusses the industry’s crisis and his company’s case for government help. Continue reading
Congress returns to Washington Monday to convene a lame-duck session with the struggling auto industry as its first priority. Democrats want to use part of the $700 billion Wall Street bailout for emergency loans to help the Big Three carmakers. Continue reading