Bush Bails Out Automakers

The Bush administration came to the rescue of the troubled U.S. auto industry Friday, offering $17.4 billion in loans in exchange for concessions from car makers and their workers

Stocks Tumble on Auto Bailout Worries

Wall Street's anxiety about Detroit automakers welled up Thursday, sending stocks sharply lower in an afternoon sell-off as investors grew fearful that a bill to rescue the companies wouldn't make it through the Senate.

Will America's 3 biggest automakers die?

Detroit's Big Three auto majors are in trouble having been buffeted by a recessionary hurricane that has played havoc with their sales and squeezed car loans. With the US sick of bailing out companies (that indulged in excesses) using taxpayer cash, these auto giants face death.



General Motors, Ford and Chrysler. The Big Three of the American automotive industry were, for the better part of a century, symbols of assembly line-driven efficiency, US industrial might and American technological innovation.

In short, they were the envy of carmakers the world over. Sure, there were blips and hiccups along the way, including a bailout for the floundering Chrysler in 1979. But as recently as 1990, after decades of domestic dominance, the Big Three still accounted for over 75 per cent of the immense US automobile market