White House questions viability of GM, Chrysler

WASHINGTON — President Barack Obama said Monday that neither General Motors nor Chrysler has proposed sweeping enough changes to justify further large federal bailouts, and demanded "painful concessions" from creditors, unions and others as their price...

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Chrysler-Fiat Merger Or Liquidate

From The ApChrysler and Fiat must merge to get more help for the Auto Task ForceFrustrated administration officials, speaking on condition of anonymity ahead of Obama's announcement, said Chrysler has been given a 30-day window to complete a proposed...

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Chrysler’s Nardelli Is Said to Have Been Allowed to Stay in Job

March 30 (Bloomberg) -- Chrysler LLC Chief Executive Officer Robert Nardelli hasn’t been asked to step down ahead of today’s U.S. government announcement about plans for the automaker, people familiar with the discussions said. General Motors Corp. CEO...

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Auto Task Force to take hands-on role in GM, Chrysler restructuring

David Shepardson / Detroit News Washington BureauWashington -- The Obama administration will take a much more hands-on role in the restructuring of General Motors Corp. and Chrysler LLC, providing both with short-term aid but insisting on and overseeing...

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Obama forces Wagoner out at GM

Chrysler gets 30 days to complete Fiat deal, GM 60 days to restructureChristine Tierney and David Shepardson / The Detroit NewsIn a dramatic development on the day before President Barack Obama was to unveil his plan for the auto industry, General Motors...

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Auto Task Force Will Demand More Fuel Efficient Vehicles

Article From The Detroit NewsNew fuel rules to cost autos $1.5BHigher mileage standards for ailing automakers will increase new vehicle price tags $64 to $126.David Shepardson / The Detroit NewsWASHINGTON -- Stricter fuel economy standards outlined Friday...

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With The Auto Task Force Desision -Fiat CEO says Chrysler proposal will change

Article From The Detroit Free PressFiat CEO says Chrysler proposal will changeOwnership stake may be adjustedFiat CEO Sergio Marchionne said a proposal for the Italian automaker to take a 35% stake in Chrysler will change in unspecified ways as the companies...

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What Concessions are coming for UAW Workers?

Today's latest report from the Detroit Free Press give a brief outline of UAW concessions."The UAW tentatively has agreed to end the so-called jobs bank, which pays laid-off workers most of their regular pay. The union also has made other unannounced...

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Auto Task Force and Obama Say Major Restructuring Ahead

Obama on autos: Aid ahead but at a priceGM, Chrysler updating plans for revivalWASHINGTON -- Heading toward Monday's announcement of his plans to help Detroit's auto industry, President Barack Obama said Thursday that the carmakers would need to make...

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Auto Task Force Set to Back More Loans -- With Strings

The latest report on the Auto Task Force from the Wall Street JournalBy NEIL KING JR. and JOHN D. STOLLPresident Barack Obama last month handed his auto-industry team a seemingly impossible task: to engineer the most complicated industrial restructuring...

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GM News-GM lays off 160 white-collar workers at Warren

The Detroit Free PressGeneral Motors Corp. began white-collar layoffs today, telling about 160 workers at the Warren Technical Center that their last day will be April 1.The move is just the beginning of GM’s plans to cut 3,400 salaried jobs in the United...

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Auto Task Force Bailout plan may be stricter than GM, Chrysler expected

By Sharon Silke Carty, USA TODAYDETROIT — The Treasury Department will announce this week a preliminary plan to help General Motors and Chrysler that sets goals and deadlines that could be more ambitious than the companies themselves have proposed, according...

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US Auto Task Force Digs In For Long-Term Role

Latest on the Auto Task Force!WASHINGTON -(Dow Jones)- The Obama administration is digging in for a longer period of oversight of the auto industry than previously thought, recent actions indicate, reflecting the complexity of its task as well as the...

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Chrysler CEO encouraged by task force progress

Chrysler LLC Chief Executive Bob Nardelli said Tuesday that he's encouraged by the focus of President Barack Obama's auto industry task force on job preservation, but he added that all options for Chrysler are still being considered.Nardelli said during...

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Obama's Auto Task Force open to auto aid

WASHINGTON—President Barack Obama’s auto task force is “open minded” about giving car companies additional aid and will use “all the resources” of the federal government to achieve agreements that avoid bankruptcy, said Steven Rattner, the US Treasury’s...

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Auto Task Force: Not Looking to Bankruptcy

President Barack Obama's automotive task force is focused on solving the industry's problems outside of bankruptcy and will likely continue to provide funding long after a pending March 31 deadline, the group's lead adviser told the Detroit Free Press....

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GM News-GM says it doesn't need $2B from gov't in March

DETROIT – General Motors Corp.'s chief financial officer says the company will not need the $2 billion loan installment for March that it requested from the U.S. government in February.CFO Ray Young said Thursday in an interview with The Associated Press...

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Obama Auto Task Force invites Toyota for some Talks

Great The Auto Task Force Is Meeting With The Foreign Auto Powerhouse Toyota! Lookout Tax Payers...Send more tax dollars overseas!Jim Lentz, President of Toyota Motor Sales in the US, will be meeting with the task force at the White House, reports MSNBC.Both...

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Chrysler News:Chrysler threatens to pull out of Canada

OTTAWA — A Chrysler executive issued a grim threat to Canadian lawmakers, warning the struggling U.S. automaker may shut down its plants in Canada if it doesn’t get significant labor concessions and government aid.“Chrysler LLC cannot afford to manufacture...

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Auto Task Force Met With Fiat SpA Chief Executive about Chrysler Deal

Reported from Bloomberg.ComBloomberg-- U.S. Treasury advisers Ron Bloom and Steven Rattner spent most of a 2.5 hour meeting with Fiat SpA Chief Executive Officer Sergio Marchionne talking about his plan to take a 35 percent stake in Chrysler, a person...

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Auto Task Force In Detroit

Article About the Auto Task ForceObama's auto task force scrutinizes GM, Chrysler operationsby Rick Haglund | Detroit Bureau DETROIT -- Top members of President Barack Obama's automotive task force scrutinized operations of General Motors Corp. and Chrysler...

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Auto task force to see industry close-up

WASHINGTON -- The top advisers for President Barack Obama's auto task force will have a chance today to literally kick the tires on Detroit's struggling automakers before deciding how much federal aid they're worth.The visit, spurred by invitations from the automakers, will cap two weeks of intensive research by the presidential task force into all...

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Obama auto task force to come to Detroit next week

Article about Auto Task Force From The Detroit Free PressWASHINGTON -- Leaders of President Barack Obama’s auto task force will travel to Detroit next week to meet with industry and labor officials worried about an imminent collapse of several companies...

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GM auditors raise the specter of Chapter 11

DETROIT – General Motors Corp.'s auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.The...

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GM loses pride of place as Chrysler pulls ahead

During a month in which total industry sales fell 28%, Chrysler LLC toppled GM in February to become number one. It was the first time since 1949 that GM has been outsold by a rival, industry consultant Dennis DesRosiers said.That year, GM design chief...

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Chrysler News-Cerberus defends not pumping more funds into Chrysler

Stephen Feinberg-Founder of Cerberus Capital Management LLCPrivate-equity fund responds to New York Times editorialChrissie Thompson Automotive News March 2, 2009 - 12:43 pm ET Cerberus Capital Management LP wants more federal loans for Chrysler LLC...

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Presidential Task Force on the Auto Industry-GM, Chrysler need to build sought-after cars

Article from The Detroit Free PressIf the Presidential Task Force on the Auto Industry wants to ensure the U.S. auto industry's success, it should make sure every plan that GM and Chrysler present answers one simple question:Why are people going to buy...

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