In other news, General Motors and its main Chinese partner have announced a new venture in India, and Indian rebels were dealt a major blow as the top insurgent commanders have been taken into custody by authorities.
The CEO of General Motors, Frederick "Fritz" Henderson, has resigned, the automaker announced Tuesday. He has been replaced on a temporary basis by Ed Whitacre, chairman of the board of the troubled automaker.
General Motors announced Monday that it will begin repaying $6.7 billion in government loans before the end of the year and could pay back the full amount as early as next year, five years ahead of schedule.
Despite reporting more than a billion-dollar loss since July, General Motors says it expects to pay the federal government's bailout money back five years early. Gwen Ifill speaks with David Shepardson of the Detroit News for more.
By Online DA
In a surprise reversal that has left politicians across Germany fuming, General Motors' board has voted to abandon a deal to sell its European operations to car-parts supplier Magna International Inc. and Russian bank Sberbank.
The auto industry signaled recovery after GM reported a sales gain and Ford announced an unexpected profit. Jeffrey Brown reports.
By Lea Winerman
Ford Motor Co., the only U.S. automaker to avoid bankruptcy this year, posted a surprise $997 million profit in the third quarter and said it expects 2011 to be "solidly profitable." The report sent Ford's shares up 8.3 percent in…
GMAC, the consumer finance company and onetime subsidiary of GM, is reportedly in talks with Treasury to receive a fresh lifeline of up to $5.6 billion in aid, on top of the $12.5 billion the government has already injected into…
Despite the recession, one Boston-based company is creating new technology that could redefine the auto industry.
The government is ending its popular 'Cash for Clunkers' program two months early due to dwindling funds. Jeffrey Brown speaks with an automotive journalist about its impact on the auto industry and the economy.
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