Wednesday, Feb. 25
12 p.m. ET
to discuss President Obama's Tuesday night speech before the joint session of Congress, which will outline his economic agenda.
The transcript follows.
Steven Pearlstein writes about business and the economy for The Washington Post. His journalism career includes editing roles at The Post and Inc. magazine. He was founding publisher and editor of The Boston Observer, a monthly journal of liberal opinion. He got Read the rest of this entry »
Feb. 25 (Bloomberg) -- China may encourage
, its
two biggest automakers, to buy rivals in a bid to revive the car
industry, according to two people familiar with the plan.
Dongfeng Motor Corp. and Changan Automobile (Group) Ltd.
will also be allowed to buy companies nationwide, said the
people, who have seen a draft policy document. Four other
automakers will be able to make acquisitions within defined
regions, added the people, who declined to Read the rest of this entry »
SAN FRANCISCO—San Francisco officials are considering a plan to limit traffic on a 2-mile stretch of a busy downtown thoroughfare.
City supervisors agreed Tuesday to study the plan for Market Street in an effort to speed travel for buses and make life safer for pedestrians and bicyclists.
The analysis will be completed within three months. It will look at how restrictions or an all-out ban would affect traffic on other streets, as well as Read the rest of this entry »
BERLIN (Reuters Life!) - Car dealer Heidi Hetzer has fought chauvinism as a female mechanic and triumphed in dozens of motor rallies, but the 71-year-old Berliner says the auto crisis is proving to be the toughest test of her life.
The resolute blonde, who has been running one of the capital city's biggest car dealerships for 40 years, says she suffered large losses at her Opel dealership in 2008 and will have to lay off a third of her 120 staff Read the rest of this entry »
(Adds Obama comments, paragraphs 5-7)
WASHINGTON, Feb 24 (Reuters) - An Obama administration task
force is carefully analyzing restructuring plans of General
Motors Corp (
GM.N
) and Chrysler LLC [CBS.UL], but bankruptcy is
not the panel's goal for them, a U.S. senator said on Tuesday.
Democrat Carl Levin of Michigan, home state of the major
U.S. automakers, met with task force members Steven Rattner and
Ron Bloom on the turnaround plans submitted Read the rest of this entry »
Feb. 25 (Bloomberg) -- Three top Chrysler LLC executives
are to meet today with President Obama’s automotive task force
to discuss the automaker’s request for an additional $5 billion
in federal aid, people familiar with the meeting said.
Chrysler CEO Robert Nardelli, Vice Chairman Tom LaSorda and
Chief Financial Officer Ron Kolka are to meet with the task
force, the people said. Auburn Hills, Michigan-based Chrysler,
which already received Read the rest of this entry »
Well, my April issue editorial was half right: your response to CARâs new exterior design has made me feel like Chris Bangle (not Ian Callum)!
Seriously, though, thanks for the feedback. We do read every word â and there are a few things Iâd like to come back on, before I head off to the Geneva show.
Some of you have asked where our market research came from, and hereâs the answer: you lot! We monitor Read the rest of this entry »
By Chris Symeon, Motorsports Editor
Philadelphia, PA (Sports Network) - NASCAR heads to "The Entertainment Capital of the World" as Matt Kenseth attempts the trifecta in Sunday's Sprint Cup Series race at Las Vegas Motor Speedway.
Shelby 427 - Las Vegas Motor Speedway - Las Vegas, NV
With victories in the Daytona 500 and the Auto Club 500 at California, Kenseth became just the fifth driver to start the Sprint Cup Series season Read the rest of this entry »
BRUSSELS (AP) — The EU says it will take only "a couple of weeks" at most to decide if bailouts for car makers in six European Union nations can go ahead.
EU antitrust chief Neelie Kroes says France, Britain, Spain, Germany, Italy and Sweden have submitted rescue plans.
These will be approved quickly if they do not give car makers an unfair edge over rivals. Kroes said that condoning economic nationalism "is the biggest mistake we could Read the rest of this entry »
Feb. 25 (Bloomberg) -- Visteon Corp., the auto-parts maker
spun off from Ford Motor Co., said it may not be able to stay in
compliance with loan terms and boosted its job-cut target because
of slumping global vehicle production.
The supplier’s fourth-quarter net loss widened to $328
million, or $2.53 a share, the Van Buren, Michigan-based company
said today in a statement. Previously announced cost-saving steps
such as salaried and hourly job Read the rest of this entry »