General Motors Corp. Chairman and CEO Rick Wagoner will step down immediately at the request of the White House, administration officials said Sunday. The news comes as President Obama prepares to unveil additional restructuring efforts designed to save the domestic auto industry. ...more

March 29, 2009

America's Big Three automakers got pounded on Capitol Hill last month. Senators from both parties took turns ridiculing General Motors, Ford and Chrysler as out-of-touch fossils, churning out poor-quality products that virtually no one wants to buy. ...more

January 17, 2009

It wasn't 1929, but like that infamous year, 2008 is sure to be remembered by economic historians as one unlike any other. ...more

January 1, 2009

Crisscrossing the country in corporate jets may no longer fly in Detroit after car executives got a dressing down from Congress. But on Wall Street, the coveted executive perk has hardly been grounded. ...more

December 22, 2008

Crisscrossing the country in corporate jets may no longer fly in Detroit after car executives got a dressing down from Congress. But on Wall Street, the coveted executive perk has hardly been grounded. ...more

December 21, 2008

Everyone has an opinion why the big three automakers are almost bankrupt. To those who think factory workers are overpaid and take the corporate CEO side, you are way off base and wrong. Working class people in factories and other grunt jobs have always been the backbone of this country. Those jobs in the factory were not isolated or held for a chosen few. The only requirement was a high school education, which was often waived, and to pass a physical. ...more

December 18, 2008

President George W. Bush knows he's unpopular. ...more

December 17, 2008

"It's been a tough year." Stanley Wells doesn't mind admitting it. In previous years, he was selling 65 Dodges and Chryslers a month. In 2008, he's averaging maybe 40. ...more

December 14, 2008

Racing to seal a deal with the White House, Democratic congressional leaders dispatched aides Saturday to draft an emergency $15 billion aid package to pull Detroit's Big Three automakers from the brink of collapse. ...more

December 7, 2008

Facing massive job losses, the White House and congressional Democrats are negotiating a deal to provide about $15 billion in loans to prevent Detroit's weakened auto industry from collapsing. ...more

December 6, 2008