Auto News Links
I cite the Detroit News enough that you'd think I worked for them. But, I appreciate excellence. When it comes to North American auto journalism, they define critical business analysis. If you want up to date reporting on anything auto, the link to their vast auto reporting home page is linked to on the blog.
Daniel Howes has an excellent story on the government bailout. A few very interesting remarks from the article.......
No question. Each step in this process feels more strange than the last -- a first round of congressional hearings that gave new meaning to the term "clueless Detroit," a second round long on detail and even longer on groveling, stunning ignorance in Washington of an industry that accounts for millions of jobs, an uninterested White House and, now, a bailout bill that reads as if is was drafted by Greenpeace and Soviet central planning.
None of that broaches the hypocrisy. The congressional committees that wrote a $700 billion financial bailout package, lent $150 billion to AIG and pumped $20 billion into Citigroup demand detailed plans from the automakers and four days of hearings for what's shaping up to be $15 billion in loans.
Or the chairman of the Senate Banking Committee, Chris Dodd, D-Conn., suggests Sunday that GM Chairman Rick Wagoner should "go" and make way for new leadership because the current one led GM off a cliff.
This from the senator who blocked reform of Fannie Mae and Freddie Mac three years ago, was their top recipient of campaign cash, pocketed more than $300,000 in contributions from PACs and executives tied to Citigroup and then spearheaded the legislative effort to craft the financial rescue package.
Yet in the world where Detroit's future lies, such irony doesn't matter. Perception, politics and calculated remarks masquerading as offhanded ones do, such as Dodd's "Face the Nation" ode to resignation.
Business icon Lee Iaccoca, who has been critical of the economic policy and corporate governance over the last decade weighs on on the Big Three CEO debate.
Bailout plan takes shape.
Car czar to steer restructuring.
Summary PDF of auto bailout plan.
UAW may seek stake in GM.
Chrysler abandons plans to outsource development of a small car to China with nationalism on the rise.
The debate over the GM CEO heats up.
Just a handful of the hundreds of articles available daily from dozen of pages of auto reporting at the Detroit News.
Daniel Howes has an excellent story on the government bailout. A few very interesting remarks from the article.......
No question. Each step in this process feels more strange than the last -- a first round of congressional hearings that gave new meaning to the term "clueless Detroit," a second round long on detail and even longer on groveling, stunning ignorance in Washington of an industry that accounts for millions of jobs, an uninterested White House and, now, a bailout bill that reads as if is was drafted by Greenpeace and Soviet central planning.
None of that broaches the hypocrisy. The congressional committees that wrote a $700 billion financial bailout package, lent $150 billion to AIG and pumped $20 billion into Citigroup demand detailed plans from the automakers and four days of hearings for what's shaping up to be $15 billion in loans.
Or the chairman of the Senate Banking Committee, Chris Dodd, D-Conn., suggests Sunday that GM Chairman Rick Wagoner should "go" and make way for new leadership because the current one led GM off a cliff.
This from the senator who blocked reform of Fannie Mae and Freddie Mac three years ago, was their top recipient of campaign cash, pocketed more than $300,000 in contributions from PACs and executives tied to Citigroup and then spearheaded the legislative effort to craft the financial rescue package.
Yet in the world where Detroit's future lies, such irony doesn't matter. Perception, politics and calculated remarks masquerading as offhanded ones do, such as Dodd's "Face the Nation" ode to resignation.
Business icon Lee Iaccoca, who has been critical of the economic policy and corporate governance over the last decade weighs on on the Big Three CEO debate.
Bailout plan takes shape.
Car czar to steer restructuring.
Summary PDF of auto bailout plan.
UAW may seek stake in GM.
Chrysler abandons plans to outsource development of a small car to China with nationalism on the rise.
The debate over the GM CEO heats up.
Just a handful of the hundreds of articles available daily from dozen of pages of auto reporting at the Detroit News.
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