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.
By PBS NewsHour
The Bush administration announced a rescue plan for the sinking U.S. auto industry Friday, offering $17.4 billion in loans conditioned on concessions from carmakers and a return to viability by March 31.
Faced with historically slow sales, the big three auto companies have made more cost-cutting moves, including temporarily shuttering plants, in an attempt to stay afloat while the government debates an auto industry aid package. A reporter in Detroit provides an…
Senate leaders continued to hammer out details of a rescue plan for U.S. automakers Tuesday, including limits on executive compensation and federal oversight of industry restructuring. Sens. Chris Dodd, D-Conn., and Richard Shelby, R-Ala., debate the plan's merits.
Media conglomerate Tribune Co. filed for federal bankruptcy protection Monday, as the owner of the Chicago Tribune, the Los Angeles Times, the Chicago Cubs and several other newspapers and TV stations tries to restructure its debt of $13 billion. Three…
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.
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.
Question/Comment: Dear Mr Solman, Many of the “experts” I hear on PBS and NPR think that bankruptcy would be a workable solution for the auto companies. I agree,…
Prospects for extending a federal rescue package to Detroit's Big Three automakers remain unclear after a congressional effort stalled until December. Paul Solman speaks with autoworkers about how the crisis is affecting them.
Deepening financial crisis among the nation's biggest auto makers prompted talks to allow corporations to apply for aid under the $700 billion bailout plan. Reporters and analysts weigh the controversy around the access to money for Detroit's Chrysler, G.M. and…
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