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Wednesday, October 16, 2019  Spokane, Washington  Est. May 19, 1883
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Stories tagged: automakers


GM bankruptcy imminent as debtholders refuse deal

DETROIT – General Motors, the company that put tail fins on a Cadillac and was once the nation’s largest employer, moved to the edge of bankruptcy Wednesday after debtholders refused …


GM rescue plan would give U.S. majority stake

WASHINGTON – The United States and Canada would own nearly three-quarters of a restructured General Motors, effectively nationalizing the border-straddling industrial colossus as part of an overhaul plan that would …


U.S. plans bankruptcy for GM

WASHINGTON – The Obama administration is preparing to send General Motors into bankruptcy next week under a plan that would give the automaker tens of billions of dollars more in …


Chrysler future in limbo

WASHINGTON – President Barack Obama’s decision to save Chrysler by pushing it into bankruptcy Thursday puts the company in risky, uncharted territory for a major U.S. automaker and could portend …


Chrysler edges closer to bankruptcy

WASHINGTON – The Obama administration Wednesday night planned to send Chrysler into bankruptcy, replace chief executive Robert Nardelli and pump billions of dollars more into the effort, all in hopes …


Chrysler’s biggest lenders settle

WASHINGTON – With just two days left before a government-imposed restructuring deadline, Chrysler LLC took a step away from the brink of bankruptcy Tuesday when its biggest lenders reached a …


U.S. may become co-owner of GM

WASHINGTON – Once a symbol of capitalist might and U.S. industrial prowess, General Motors would be half owned by the Treasury under a sweeping new plan that would also shut …


GM plans extended factory shutdowns

DETROIT – General Motors Corp. is planning to temporarily close most of its U.S. factories for up to nine weeks this summer because of slumping sales and growing inventories of …


GM, Segway think ultrasmall with two-wheeled urban vehicle

NEW YORK – A solution to the world’s urban transportation problems could lie in two wheels not four, according to executives for General Motors Corp. and Segway Inc. The companies …


New GM chief open to possible bankruptcy

General Motors Corp. is prepared to enter bankruptcy if it cannot restructure by itself, the company’s new chief executive, Fritz Henderson, said Tuesday. “Our preference is to do this outside …


Changes in Detroit would have impact for drivers

WASHINGTON – President Barack Obama on Monday slammed the turnaround plans that General Motors and Chrysler have put forward to try to win more U.S. bailout cash. He called for …


Bankruptcy may be option for carmakers

Faced with an auto industry that is bleeding cash and seemingly unable to fix itself, President Barack Obama began laying the groundwork Monday for a possible government-sponsored Chapter 11 bankruptcy …


Chief of GM to step down

WASHINGTON – General Motors chairman and chief executive Rick Wagoner is resigning at the request of the White House, clearing the way for the Obama administration to offer the company …


GM audit more bad news

The specter of a General Motors Corp. bankruptcy was raised Thursday by the automaker’s own auditors, which said there was “substantial doubt” about the company’s ability to continue operating. Although …


GM lost $30 billion last year

Slammed by crashing sales, General Motors Corp. said Thursday that it lost $9.6 billion in the fourth quarter and $30.9 billion for all of 2008, its second-worst year on record. …


GM, Chrysler survival plans call for more bailout billions

DETROIT – General Motors and Chrysler asked the government for an additional $14 billion in aid, a dramatic acknowledgment that conditions in the U.S. auto industry have grown significantly worse …


GM, Chrysler finalize road maps

WASHINGTON – General Motors and Chrysler raced to save their place in the American auto industry Monday, putting the final touches on plans to curb production, cut jobs and pare …


Auto team to oversee revamp

WASHINGTON – President Barack Obama plans to appoint senior administration officials – rather than a single “car czar,” as had been discussed – to oversee a restructuring of the auto …


Executives see auto industry sales stabilizing

CHICAGO – Auto industry executives are seeing signs that the nation’s automobile industry is beginning to stabilize, after months of free-falling sales that have threatened the viability of some of …


GM to cut 10,000 white-collar jobs

General Motors Corp. is planning to slash another 10,000 salaried jobs worldwide this year, saying the cuts are unavoidable with a government restructuring deadline looming and industrywide sales in one …


Obama takes up auto standards

WASHINGTON – President Barack Obama offered the U.S. auto industry a bargain on Monday: Accept tougher standards on how much fuel your vehicles use, and we’ll think about helping you …


Fiat to pair up with Chrysler

ROME – Fiat and Chrysler said Tuesday they have agreed to form a strategic alliance that would give the Italian auto empire a 35 percent stake in the troubled U.S. …


Niche automakers hope buyers plug in

DETROIT – Several startup automakers are in hot pursuit of electric-powered vehicles, but they face an uphill road as they challenge major car companies like Toyota and General Motors in …


Chrysler sales drop 53 percent

DETROIT – Chrysler LLC’s December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008, dwarfing the steep declines at the other major automakers. …


GM rolls out new financing deals

SAN FRANCISCO – Wasting no time, General Motors Corp. announced Tuesday attractive financing deals on new cars and trucks after the struggling automaker’s lending unit said it received a much-needed …


Town faces life without GM

MORAINE, Ohio – General Motors Corp.’s financial woes have GM workers around the country worrying about what life without GM might be like. The 1,080 hourly workers at the automaker’s …