The News Review:
- Report finds shoppers won’t car buy from bankrupt auto makers
- Sports Briefing | Auto Racing Cost Cuts in Indy Racing
- Views on Auto Aid Fall On North-South Divide
- Bunning Strikes Out Over Auto Bailout Vote
- Stocks rise on hopes for auto bailout
- METALS STOCKS Metals fall as Treasury says it will aid auto makers
- Canada Agrees to Supplement Aid to Auto Industry
Report finds shoppers won’t car buy from bankrupt auto makers
Bizjournals.com NC
consumers say they won’t buy a car from an auto maker that is in bankruptcy. A new poll by Rasmussen Reports of consumer found that 51 percent said they would not buy a car from a manufacturer who is in Chapter 11 bankruptcy reorganization. Thirty-one percent in surveyed said they would be "OK" buying a car from a bankrupt car maker.
Sports Briefing | Auto Racing Cost Cuts in Indy Racing
New York Times United States
css); Sports Briefing – Auto Racing – Cost Cuts In Indy Racing – NYTimes. Andrea Toso Dallara’s Indy project leader said the price reduction was intended to help the teams and the series during tough economic times. Toso said the cuts would average about 11 percent. Andrea Toso Dallara’s Indy project leader said the price reduction was intended to help the teams and the series during tough economic times.
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Views on Auto Aid Fall On North-South Divide
Washington Post United States
13 — People in this small town surrounding one of Nissan’s busiest U. car plants have followed the news of the auto bailout with particular interest.
Bunning Strikes Out Over Auto Bailout Vote
CBS News NY
Bunning had been scheduled to sign baseballs at the Gibraltar Trade Center in Taylor Mich. on Sunday at $35 apiece but hours after the Senate derailed the auto bailout plan "the trade center posted a terse notice" saying that Bunning’s appearance had been canceled the paper reports.
The center’s president Jim Koester said in a statement that he had scheduled Bunning’s visit "well in advance of the auto vote" but that he decided to cancel the arrangement after learning that Bunning voted against the bailout.
"Being a business owner in Michigan for over 30 years I simply cannot support anyone who in my opinion votes against the economic well-being of our great state" the paper quoted Koester saying in a statement.
Stocks rise on hopes for auto bailout
USA Today
The Dow Jones and S&P 500 each rose about three-quarters of 1% the Nasdaq gained 2. 18% and the Russell 2000 jumped 3. Tech shares surged after House Majority Leader Nancy Pelosi said.
METALS STOCKS Metals fall as Treasury says it will aid auto makers
MarketWatch
automakers collapsed in the Senate as a dispute over union wages derailed a compromise between Republicans and Democrats who had worked feverishly to throw Detroit a lifeline. Treasury spokeswoman Brooklyn McLaughlin said in a statement Friday that “because Congress failed to act we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry. ” Separately White House spokeswoman Dana Perino said funds to aid the sector might come from the government’s $700 billion Troubled Asset Relief Program. The decision to use TARP funds would mark a shift in the White House’s position that the money should be used only to stabilize the financial sector. Crude-oil futures finished lower but off their intraday lows.
Canada Agrees to Supplement Aid to Auto Industry
New York Times United States
“If the United States comes forward boldly for the auto industry we also need to be at the table for Canadian production. ”The announcement was the first official disclosure about Canada’s negotiations with the carmakers which had been cloaked in secrecy for several weeks. Clement nor an official from the Ontario government would put a dollar amount on the contribution. That amount depends on how much auto production the companies are willing to maintain in Canada as well as the value of any aid package they obtain in the United States.