Business & Economy
Associated Press/Photo by J. Scott Applewhite

A vote for Detroit

Economy | The House of Representatives voted Wednesday to pass a $14 billion loan for the survival of the three Detroit automakers
by Emily Belz
Posted 12/10/08, 12:00 am

WASHINGTON - Though the automakers' bailout appears to face insurmountable challenges in the Senate, the House of Representatives passed legislation in a 237-170 vote Wednesday night to provide the U.S. industry with $14 billion in loans, with the contingency that President Bush would appoint a "car czar" to oversee restructuring in the three companies-Ford, General Motors, and Chrysler.

The Senate plans to vote on the legislation later in the week.

Read more

Jean-Baptiste Say vs. Franklin-Lyndon Obama

by Alex Tokarev
Posted 12/09/08, 03:04 pm

Read more

Associated Press/Photo by Gerald Herbert

Big Three back before Congress

Economy | The top auto executives spend two days in Washington asking Congress for $34 billion-$9 billion more than last time
by Emily Belz
Posted 12/04/08, 12:00 am

WASHINGTON-Chastised and having driven 525 miles from Detroit in hybrids instead of flying in corporate jets, the top executives of the Big Three U.S. automakers presented renewed pleas to Congress for federal funds to save their companies.

"We're here today because we made mistakes, which we're learning from," General Motors CEO Richard Wagoner told the Senate Banking Committee on Thursday.

Read more