Nov 20 Markets Tumble, Citigroup Stocks Sink as Debate Over Auto Bailout Stalls By PBS News Hour U.S. stocks plunged again Thursday to a five-year low as hopes dimmed that lawmakers could quickly put together an aid package for U.S. automakers. Continue reading
Nov 20 U.S., World Stocks Tumble Amid Bleak Jobs Report By PBS News Hour U.S. stocks opened lower Thursday as investors worried that a possible failure by automakers to get a bailout would add to the economy's woes and as new data showed the number of new claims for jobless benefits was at its… Continue reading
Nov 17 Congress Set to Debate U.S. Auto Industry Bailout By Admin, PBS News Hour 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
Nov 12 Democrats Press for Billions in Aid to Auto Industry By PBS News Hour Democrats continued to push for aid for struggling U.S. automakers, calling for Congress to act during its lame-duck session next week to give the industry a much-needed financial boost as it confronts weak sales and plummeting stock prices. Continue reading
Oct 28 Watch White House Considers Extending Bailout to Auto Industry 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… Continue watching
Jul 01 Nearly Every U.S. Automaker Posts Double-digit Sales Losses in June By PBS News Hour Amid record-high gas prices, a slumping economy and consumer jitters, U.S. auto sales plummeted in June, but General Motors managed to retain its No. 1 spot ahead of Toyota thanks, in part, to a six-day sale featuring zero-percent financing offers. Continue reading
Feb 12 GM Reports Record Loss, Offers Round of Buyouts By Admin, PBS News Hour In an effort to stave off record losses, General Motors Corp. announced Tuesday it was offering a new round of buyouts to all 74,000 of its U.S. hourly workers represented by the United Auto Workers. Continue reading
Nov 01 Chrysler to Slash Up to 12,000 Jobs By Admin, PBS News Hour Chrysler LLC announced Thursday it plans to cut up to 12,000 jobs as part of the automaker's ongoing effort to reduce costs and adjust to slowing demand for some of its vehicles. Continue reading
Oct 10 Watch Auto Workers Walk Out at Chrysler, Reach Quick Settlement More than 30,000 auto workers at Chrysler went on strike Wednesday morning, but their union reached a settlement with the automaker by the end of the day. Washington Post automotive columnist Warren Brown provides an update. Continue watching
Sep 26 Watch Autoworkers, GM Agree to Health Care Trust, Other Benefits The United Auto Workers union and General Motors reached a tentative agreement on Wednesday that includes a health care trust fund for retirees. A journalist based in Detroit explains the ramifications of the deal. Continue watching