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GM

AUTO INDUSTRY
Subdued Detroit auto show opens doors as sales crash
One of the world's most prestigious auto shows opens on Sunday in Detroit even as US car sales crash and the industry skids to a halt. General Motors, Ford and Chrysler are struggling to survive, like the smaller companies.
AUTO INDUSTRY
Cash-strapped GM to auction off historic cars
Troubled US giant carmaker General Motors expects to raise around five million dollars by auctioning off 200 of its historic and most unique cars.
AUTO INDUSTRY
US carmakers report sharp sales drop
Top US automakers reported sharp falls in their December sales, closing out the weakest year for the beleaguered US car industry in over a decade and heralding a bleak start to 2009.
AUTO INDUSTRY
US Treasury finalises $4bn Chrysler loan
The US Treasury finalised the transaction of a four-billion dollar loan to floundering US auto giant Chrysler. Chrysler head Bob Nardelli said the loan would help "bridge the current financial crisis". A GM loan is expected to follow in January.
UNITED STATES
GMAC wins bank status, access to federal loans
GMAC won approval from the Federal Reserve on Wednesday to become a bank holding company, which will allow the company to access government lending programs and continue financing loans for General Motors cars.
AUTOMOBILE - USA
GM refutes new Chrysler merger rumours
General Motors has denied information published in the Wall Street Journal saying new talks have started with Chrysler in order to achieve a merger deal. Such a deal has been rumoured for several months.
USA - AUTO INDUSTRY

Automakers' crisis deepens Detroit's despair

Following the subprime mortgage crisis and the global credit crunch that followed, the worst nightmares of the motor trade are becoming a reality. And nowhere does this reality bite harder than in the Motor City, Detroit.
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USA - ECONOMY
Obama wants to help automakers while maintaining 'pressure'
US President-elect Barack Obama says he wants to help American automakers with a bailout so they can "keep their factory doors open" but wants to maintain pressure to ensure they restructure operations.
AUTO INDUSTRY
US lawmakers near carmaker bailout deal
Chances of a billion-dollar bailout deal for US carmakers improved after downbeat reports on US jobs spurred talks between the White House and Democratic lawmakers.
UNITED STATES
Getting unemployment benefits, a crusader’s battle
As the unemployment rate keeps soaring in the US, many jobseekers don’t get financial assistance. At times, the system appears obsolete.
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