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Auto Parts Suppliers Want Bailout

admin — Thu, 05 Feb 2009 03:50:24 +0000

With auto parts suppliers suffering from lowered orders from automakers, they’ve gone to the federal government with hat in hand, requesting a $25 billion bailout of their own.

The request was sent to the Department of the Treasury, from an industry group representing the interests of auto parts suppliers.

Operation Three Little Piggies Tracks Auto Executives

admin — Thu, 22 Jan 2009 23:45:32 +0000

For those of you who want to keep up on constant news regarding the auto bailouts (in addition to GMBailout.com, of course!), “Operation Three Little Piggies” is tracking the moves of the Big Three’s executives following Chrysler and GM’s bailouts.

GM may close 500 dealerships this year

admin — Tue, 13 Jan 2009 06:22:16 +0000

According to Bloomberg, GM has a goal of cutting 1,700 dealerships by 2012. As auto sales plummet, the company has no choice but to close up shops. The Durham, NC GM Cadillac dealership has recently consolidated with the Durham Chevrolet.

Reaction to Automaker Bailout: Would Money Be Better Spent on Workers?

admin — Wed, 24 Dec 2008 20:37:42 +0000

Nicole Ashley Hamilton writes:

“All this talk about how we need to save the auto industry because it employs so many people. But by the time they finish shrinking enough to be viable, it’s going to be like 3 guys running a used car lot. By the time it’s over, how many jobs are we going to save and at what cost per job? Would it have been cheaper to write each worker a check for a million dollars and tell them to retire?”

Auto Sales Hit 26-Year Low

admin — Thu, 18 Dec 2008 06:09:22 +0000

Auto sales hit their lowest point in 26 years in November, with Chrysler experiencing a 47 percent drop in sales compared to an industry-wide 37 percent drop.