Brrr!!

It's still cold around here. My old Northern blood has (apparently) thinned after 20+ years in the South. 40 degrees now feels like 30.  Hey, guess what? We may not be looking at a cash bailout for the auto industry, after all!

URGENT - Bush considering 'orderly' auto bankruptcy

The White House says a managed bankruptcy for automakers is one option being considered to help save the troubled industry. White House press secretary Dana Perino told reporters Thursday that [...]

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The Auto Bailout

As I write this, the TV machine is talking as if the Bush Administration is going to hand millions of dollars in TARP funds over to the Big 3 automakers, since the Senate failed to approve the bailout plan last night. Honestly, I'm torn on the entire deal.  I'm fearful of the snowball effect through our already struggling economy if the automakers shut down. On the other hand, I'm growing weary of Washington writing big checks to struggling companies. And there is a lot of chatter this morning that using the TARP money for this purpose could be illegal.

Detroit Pleads For Help

Pleads. Begs. Threatens.  Whatever verb you prefer. It's just quite ugly all around, no matter what the decision is.

Big Three Automaker CEOs Beg Congress For More Money Again

They’re rested. They’re contrite (to a point). They’ve taken public relations advisers’ advice and this time didn’t fly on private jets. The big three automakers CEOs have been back in front of Congress again, making a revamped pitch for a bailout. Some call it a request, others call it begging but the bottom line is they’re [...]

The Auto Industry Tanks

It seems they can't even give 'em away these days.

GM Sales Drop 41 Percent As US Auto Industry Sinks

Chrysler says its November U.S. sales plunged 47 percent, blaming a slumping industrywide demand and a [...]

On the upside, the Dow Industrials gained almost 300 points.  Go figure.

Not Out Of The Woods

Just in case you got all caught up in revelry over Wall Street's good week, the economy is still in trouble. I know,  I look for every little bright spot I can find, too.  But, let's look at the auto industry for a moment.

Local Pillars, Auto Dealerships Teeter Amid a Big 3 Decline

Car dealers have been struggling for years but what remains of their sales is evaporating along with consumer confidence and[...]

Coincidence?

I think not.

GM CEO To Continue Flying Private, Company Will Downsize Jet Fleet

From ABC News: "General Motors said today that it is putting two of its five corporate jets out of service because the planes are not being used enough. The top three executives at GM, however,[...]