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Senators are calling on General Motors and Chrysler to release more details on ongoing talks over the automakers' plans to close thousands of auto dealerships as part of their bankruptcies.
There are signs the nation's factories are stirring from one of the worst recessions in decades. Investors this week will find out how awake they really are.
Struggling states and towns got a dose of badly needed money this summer from a Cash for Clunkers program that poured hundreds of millions of dollars of tax revenue into their budgets.
It's a nightmare scenario for drivers — you pull your foot off the gas pedal but it sticks to the floor, causing the car to speed up. How do you get it to stop?
The inspector general for the Treasury Department's $700 billion bailout fund said Thursday that he will review the decisions of General Motors and Chrysler to close a large portion of their auto dealerships as part of their restructuring plans.
Companies that received billions of dollars of government aid have published policies meant to limit lavish expenses, new rules that follow reports of costly private jets, spa retreats and other corporate excess at firms receiving taxpayer money.
The World Trade Organization's ruling that European loans for Airbus were illegal subsidies is being cheered by U.S. lawmakers loyal to the Boeing Co., even though the preliminary decision may seem outdated now that government subsidies, bailouts and takeovers are common.
The federal agency that oversees auto safety standards said Friday that it isn't necessary to require that power windows operate in reverse to prevent the injury or deaths of children who could be accidentally caught in them.
Now comes the hard part for the auto industry — luring customers without big Cash for Clunkers discounts.
Auto dealers are bracing for a possible rush of last-minute shoppers before the Cash for Clunkers program ends Monday, but some buyers may find they won't be able to cash in on big government rebates.
It's revived business at car dealerships, taken gas-guzzlers off the road and given a badly needed boost to struggling auto factories. By many measures, the government's Cash for Clunkers program has been a success.
Auto dealers have made Cash for Clunkers deals worth $1.81 billion, according to data released Wednesday by the federal government.
WASHINGTON — Auto dealers say they still haven't been repaid for the majority of Cash for Clunkers deals they have made, creating cash crunches for many as they wait for the government to reimburse them under the popular $3 billion vehicle trade-in program.
Employers who have cut jobs over the past year are in no hurry to start hiring again just because the recession is tapering off.
The government's cash for clunkers program has been so popular that the $1 billion fund set aside to pay for it has nearly dried up. With the chance to take up to $4,500 off the sticker price, buyers have flooded dealerships to trade in gas-guzzlers for new cars with better gas mileage.
For anyone looking for signs that the recession may finally be giving up its firm grip on the economy, the steady stream of quarterly earnings reports coming out of the nation's companies could offer some signs of hope.
Two of the nation's biggest military contractors reported divergent second-quarter earnings Thursday, results that come as the defense industry begins to sort out the impact of shifting priorities in Pentagon weapons buying strategies.
Six Illinois banks and one bank in Texas were shuttered Thursday as government regulators proposed new rules for private equity firms seeking to take over failed banks.
Boeing Co. will have to compete for work on part of the Army's modernization plan following the service's decision to break up the giant contract that the company managed.
Foreign governments looking to kick the tires of fighter jets and cargo planes at this week's air show in Paris will likely hear a clear message from U.S. defense contractors: We need your business now more than ever.
It's no secret General Motors has been in trouble for a long time.
First it was Chrysler. Now General Motors looks headed for bankruptcy court.
House lawmakers say the Air Force could end up flat-footed if it carries out plans to end big programs like the C-17 cargo plane and retires fighter jets while waiting for new ones that are still being tested.
The Army plans to break up its $160 billion modernization plan and will give the high-tech fighting tools to all its combat brigades instead of just a handful as originally planned, a spokesman for the service said Monday.
There's one easy way to measure how much the economy is suffering during the recession: America's factories are making far less stuff then they used to.
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