NYTimes.com - Wed, 12/03/2008 - 05:52 General Motors said it needed an $18 billion package in loans and lines of credit and that it will cut jobs, factories, brands and executive pay.
CNNMoney.com - Wed, 12/03/2008 - 05:46 Automakers submitted their turnaround plans to Congress Tuesday with the hopes of winning approval for a lucrative loan package they claim is necessary for their survival.
CNNMoney.com - Wed, 12/03/2008 - 05:27 President-elect Barack Obama plans to nominate New Mexico Gov. Bill Richardson to be secretary of Commerce, a Democratic source told CNN on Tuesday.
LATimes.com - Wed, 12/03/2008 - 02:00 'There is no Plan B,' an executive says. The Big Three automakers now seek as much as $34 billion in U.S. aid.
Turning to Washington for a lifeline, General Motors Corp. has asked lawmakers for up to $18 billion to stave off collapse, promising in return to slash executive pay and jettison its poorly performing brands.
LATimes.com - Wed, 12/03/2008 - 02:00 The offer to work for $1 a year if an auto industry bailout is approved would mean a huge pay cut for Rick Wagoner and Alan Mulally.
Working for a buck a year would amount to a multimillion-dollar pay cut for the chief executives of General Motors Corp. and Ford Motor Co.
NYTimes.com - Wed, 12/03/2008 - 01:16 In the worst month yet in a horrible year, U.S. sales fell 41 percent at General Motors and 33.9 percent at Toyota. Honda’s sales declined 31.6 percent, and Ford’s fell 30.6 percent.
NYTimes.com - Tue, 12/02/2008 - 11:53 Intel will announce a deal to become the sole supplier of flash memory for a coming Hitachi line of computer drives.
NYTimes.com - Tue, 12/02/2008 - 08:50 With word that the U.S. officially sank into a recession last December, the Fed chairman and the Treasury secretary said they would use all the tools at their disposal.
CNNMoney.com - Tue, 12/02/2008 - 07:17 Here's what may wind up on the block for Detroit's struggling auto brands as GM, Ford and Chrysler look for cuts.
CNNMoney.com - Tue, 12/02/2008 - 06:36 Struggle? You don't normally think of that word applying to the company Bill Gates founded. But there it is: Microsoft, one of the most aggressively competitive, brainiac-attracting, technologically superior, and oh, yes, cash-gushingly profitable companies of all time, can't for the life of it make a dime on the Internet.
WSJ.com - Tue, 12/02/2008 - 04:08 The Dow industrials fell 679.95 points, or 7.7%, to 8149.09, spurring concern that the rally of the five previous trading days might have been a temporary bounce. An onslaught of negative news fueled the declines.
CNNMoney.com - Tue, 12/02/2008 - 02:59 Selling a home in this market is hard enough. Competing in a neighborhood flooded with foreclosed homes that are heavily discounted is nearly impossible.
NYTimes.com - Tue, 12/02/2008 - 02:17 New figures confirmed that consumers who had been sitting on their wallets pulled them out for Black Friday, giving the nation’s retailers a much-needed sales spike.
LATimes.com - Tue, 12/02/2008 - 02:00 Pilgrim's Pride Corp., the nation's largest chicken producer, filed for Chapter 11 bankruptcy protection Monday, hobbled by its debt load and volatile feed prices.
LATimes.com - Tue, 12/02/2008 - 02:00 Many retailers slash prices and offer Web-only promotions to boost business after healthy in-store sales and foot traffic on Black Friday dropped off as the weekend progressed.
It may have been Monday, but the Thanksgiving shopping marathon continued as virtual crowds swarmed online merchants in search of Web-only specials, discounts and free shipping.
LATimes.com - Tue, 12/02/2008 - 02:00 General Motors, Ford and Chrysler will give lawmakers detailed plans on how they would use federal money to ensure their long-term survival and not just dodge an immediate collapse.
Their first attempt was a lemon, but the Big Three U.S. automakers get a second chance this week to convince Congress that it should give them a $25-billion bailout -- or as they call it, a bridge loan to the future.
