Fed Must Speed Aid to Auto Credit Units, Schumer Says (Update2)
The News Review:
- Fed Must Speed Aid to Auto Credit Units, Schumer Says (Update2)
- Auto Makers Settle for Tough Love
- UPDATE: Edmunds Sees 28% Drop In November US Auto Sales
- LA Auto Show: Hyundai Genesis coupe — Mo’ muscle, less cash
Fed Must Speed Aid to Auto Credit Units, Schumer Says (Update2)
Bloomberg
2 deadline to present restructuring plans. With members of Congress back in their home states anddistricts, the United Auto Workers union urged members today tolobby for a direct assistance package. ?They need to hear from all of us,? the union said in ane-mail message. ?It?s crucial to save American jobs, preventbankruptcy by American auto firms and create a long-term planfor the viability of our auto industry. ? Corker?s Opposition Corker, a Republican who like Schumer sits on the BankingCommittee, said a bipartisan consensus is building in Congressagainst aid for the automakers without an ?event? such as abankruptcy, a GM-Chrysler merger or major restructuring. ?We are spending a lot of time getting information fromindustry analysts,? Corker said in an interview.
Auto Makers Settle for Tough Love
Wall Street Journal
America shouldn’t let the auto makers “vanish,” he said at a news conference. But the auto companies should get help, he added, only when they show a better plan for pulling out of their downward slide. It seems the only love auto makers can get from Washington these days is of the tough variety — and from some quarters they can’t get even that. All told, the auto industry is seeing its political support crumple like a badly rusted fender.
UPDATE: Edmunds Sees 28% Drop In November US Auto Sales
CNNMoney.com
(F) posting a 33% slide and General MotorsCorp. (GM) reporting a 28% skid. Detroit auto makers have pleaded for a taxpayer-financed rescue from U. lawmakers in front of a national audience, but Congressional efforts to rescuethem collapsed, with lawmakers saying the industry lacked credible plans toreturn to profitability.
Related from Mortgagerefinancemonster: UPDATE 1-US mortgage applications rise as interest rates drop
LA Auto Show: Hyundai Genesis coupe — Mo’ muscle, less cash
Los Angeles Times, CA
I’m over six feet and couldn’t sit in any of the cars without bending way over. But for small children and large packages, those rear accommodations should be fine. As tough as things are for the auto industry, for the performance-minded driver on a budget (who isn’t now?), 2009 looks to be a very good year. Hong Photo: The Hyundai Genesis coupe at the L.
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