The Swedish government has created a $3.4 billion (28 billion kronor) support package including credit guarantees and rescue loans for Volvo and Saab, hours after the US approved their own aid package. Børk! Børk! Børk!
The bailout loan's no longer just a $15 billion bridge loan for the not-so-Big Three to make it until the Obama administration, it's actually "bankruptcy lite." It's also a really good idea.
If you're interested in the saddest father-son automaker story since Edsel Ford handed the family business over to Henry Ford II, dooming William Clay Ford to forever own the worst football team in existence, you may want to turn on BBC America at 7:00 PM EST. More details below.
A bailout bridge loan plan for the not-so-Big Three drawing emergency aid from an existing pool of $25 billion for green vehicle R&D and including a Cabinet-level oversight board could come as early as today.
...stop friggin' nodding! I know you're excited RIck said something smart, but fercrissakes some of us are trying to listen to what he actually had to say and it's really distracting. . Thank you and carry on.
The "Save GM" t-shirt went over so well, we decided to expand the not-official Jalopnik store offerings to now include the rest of the not-so-Big Three with Save Ford and Save Chrysler t-shirts plus an exclusive Save Detroit t-shirt. In these trying times, one needs to be sporting a kitschy t-shirt and frankly,…
The not-so-Big Three learned from their corporate travel mistake deciding to drive to D.C. this week for testimony before Congress. Thanks to our man on the scene, here's a look at the cars they chose and their meaning.
Photo Credit: Chip Somodevilla / Getty Images News
GM CEO Rick Wagoner just showed up to Capitol Hill driving the Chevy Volt mule. No clue where the other CEOs are.
Jeff Gilbert with WWJ 950 AM had a chance to talk to UAW President Ron Gettelfinger just minutes ago after a meeting with UAW local heads on reexamination of their contracts (including nixing of the Jobs Bank, as we'd predicted) with the not-so-Big Three. Gilbert asked him what he'd be doing next. His response? He's…
We spent the night reading the the not-so-Big Three's business plans presented yesterday to Congress and after we graded them below, we've one huge question. Given the Carpocalypse, what's with the overwhelmingly optimistic sales projections for the next three years?
Chrysler was the last of the not-so-Big Three to reveal their plan for long-term viability with an ask of $11 billion to sustain operations into the new year. But for what?
GM's response to the congressional ultimatum, just released, outlines a need for $12 billion in loans, plus potentially $6 billion later, and plans to reach profitability by pursuing "alternatives" to the Saturn brand and making Pontiac even less desirable.
In yet another stunning display of GM's critical lack of understanding of the importance of transparency when asking for public assistance has asked aviation regulators to block the public's ability to track the company's leased private planes. When will this company learn a little thing called "message?"
...you spot a Rolls-Royce Phantom Coupe in front of you in the McDonald's drive-through. Also, the driver's ordering from the value meal menu. Oh, and it's not Britney Spears behind the wheel. And no, they didn't "super size" it.
We've been able to confirm that both Truck Trend and Sport Compact Car magazines, august titles from the the sprawling Source Interlink automedia empire, have been killed by their publisher. Word is up to 115 employees were notified yesterday that their services would no longer be required. A former employee tells us…
After some members of Congress excoriated the leaders of the not-so-Big Three for wasting money and not planning for their future, leadership from the Senate and House said they wouldn't give the automakers billions of dollars until they came up with a plan for not wasting money and setting up their own future.…
So we're sitting here in the press room of the LA Auto Show thinking about Carpocalypse Now, the fight for loans from Congress and thinking to ourselves — you know the UAW and Congress? They're really not so different from each other. It's almost like looking in a mirror. A freaky state fair carnival mirror, but a…