auto bailout
One of the conditions of the auto bailout is the elimination of private corporate jets. Guess they probably shouldn't have flown them to Washington to ask for a tax payer bailout. Whoopsie!
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bailout
President Bush has approved a $17.4 billion auto bailout, with $13.4 billion in emergency loans to prevent the collapse of GM and Chrysler and another $4 billion to be handed out in February.
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money meltdown
Friday will be the last day of production as Chrysler shuts down for 30 days — citing lack of available consumer credit.
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auto bailout
The Auto Bailout Bill passed House yesterday, but is expected to encounter strong Republican resistance in the Senate.
auto bailout
CBSNews is reporting that while, at this very moment, the big three auto bosses are testifying in front of the House Financial Services Committee (watch this now at
CSPAN, if you like.) about how they need emergency bridge loans in order to continue functioning — they still apparently have enough money to continue to spend millions lobbying our government.
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auto bailout
A majority, 61% of Americans are not in favor of bailing out the auto industry, says CNN/Opinion Research Corp.
poll. Ford, Chrysler and GM have requested up to $34 billion dollars in emergency loans, but a majority of Americans polled thought that bailing out the automakers wouldn't help the economy.
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readers
Steve & Barry's is in Bankruptcy, and the Big 3 are rattling their tin cups around Washington. It's a great synergy of failed brands, and it's on sale! 2 more fail shirts, inside!
(Thanks to Nathan!)
money meltdown
The CEOs of Ford, GM, and Chrysler have all agreed to take only a $1 salary if the government will pretty pretty pretty please with killed-electric-car-on-top bail them the out. [
CNNMoney]
(Thanks to DjDynasty!) (Photo:
Nrbelex)
auto bailout
ABCNews says that the big three auto CEOs "flew to the nation's capital yesterday in private luxurious jets to make their case to Washington that the auto industry is running out of cash and needs $25 billion in taxpayer money to avoid bankruptcy."
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auto industry
What do you do when your industry starts to go belly up and you can't make enough revenue to stay afloat? If you're a short-sighted U.S. auto maker, you beg the government for
$25-50 billion in immediate, low-interest loans in order to retool your plants, so you can start producing the hybrid cars you should have been planning years ago.
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fuel
A hybrid vehicle might be more fuel efficient than the non-hybrid version of the same car, but some hybrid vehicles can get as few as 19mpg. Check out this list of the least fuel efficient hybrid vehicles before you head out to the dealership.
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chrysler
Reader inkjammer would like to let you know that Chrysler thinks of a full tank of gas as an "additional feature" — albeit a free one.
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customer service
Chrysler has extracted the DNA of our executive email carpet bomb and used it to create a weird new outreach program: starting next week,
300 Chryslers execs will each call a different recent purchaser of a Chrysler, Dodge, or Jeep vehicle and ask if there are any problems. According to Cars.com's blog Kicking Tires, they'll keep doing this "until Chrysler chairman and chief executive officer Bob Nardelli is satisfied that if his customers have troubles, their problems will be fixed. Nardelli, by the way, is going to make the calls, too." That last sentence—well, really the whole idea—becomes funnier when you
know where Nardelli once worked.
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marketing
Chrysler is betting that you're worried about volatile gas prices. So worried, in fact, that you'll leap at the opportunity to "lock in" a price of less than $2.99 a gallon for 3 years by buying a new Chrysler, Dodge or Jeep.
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auto
Chrysler's new CEO Robert "Big Bob" Nardelli, formerly of Home Depot, has started cutting costs at Chrysler. The first to go will be the popular PT Cruiser, says the WSJ.
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recalls
Chrysler has announced a recall of over 300,000 vehicles due to a potential problem with the car's ability to brake while coasting uphill.
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security
Researchers have figured out a way
to hack remote keyless car entry devices. The threat to the consumer is minimal, it takes several hours to crack the code, but it does give one pause, especially considering that if the Keeloq's manufacturer added a few simple measures they could render the exploit nearly useless.
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