bailout

GM: $30.9B Losses in 2008
GM: $30.9B Losses in 2008

Not only is GM off its game, it's off the charts in fiscal losses. A gut-wrenching $30.9 billion is the final number for its 2008 losses now that the miserable fourth quarter tally is in. Fourth quarter losses in '08 - $9.6 billion - were nearly six times that of the giant's losses for the same...Read More»

Fiat 500C interior
Link Love From The Car Connection: Fiat Shows Off, Hyundai Goes Bulletproof, And The Bailout Looks Bankrupt

While you were sleeping, TCC staffers cobbled together a collection of news items to ease you into your morning routine. You can thank us later. A release only a mother could love -- It's only Tuesday, but we're certain we've already discovered the worst press release of the week: "Found: Oldest...Read More»

Steve Jobs
TechCrunch Wants Steve Jobs To Run A United GM/Chrysler; We Respond Huffily

Yesterday, TechCrunch posted a letter to President Obama from Spark Capital's Todd Dagres, who offers the president some suggestions for dealing with the Big Three. In a nutshell, Dagres argues that the biggest problem with the auto industry is that Detroit doesn't design cars Americans want to...Read More»

Big Three Bailout Bonanza as of 2-19-09
Big Three Bailout Bonanza: February 19th Edition

As noted earlier, we may not be trained "numbers people", but TCC staffers can usually hold their own on the brave frontier of math. Still, we've had a tough time wrapping our heads around the Big Three bailout bottom line, thanks largely to conflicting dollar figures floating across the interwebz...Read More»

Citroën Karin Concept from 1980
Link Love From The Car Connection: Lost Citroën Concepts, Blinged Rolls Royces, And Chances Are, You Hate Detroit

Just as Eskimos have dozens of words for "snow", we have scores for "Thursday". Our favorites? "Slack-off Day" and "Last Chance to See Straight Before the Big Hangover". Enjoy these news nuggets while you trudge through the second-best day of the work week. Pre-KITT car -- Let's face it: the 1980...Read More»

2011 Cadillac CTS Coupe
Restructuring Plans: Caddies, 300s, And Grand Cherokees, Oh My

If you've got nothing better to do on a Wednesday morning, we highly recommend you flip through the restructuring plans Chrysler and GM submitted yesterday. (And really, what could you possibly have to do that's more important than that?) Among all the legalese and financial statistics, there's...Read More»

BMW R7 concept from 1934
Link Love From The Car Connection: Vintage BMW Concepts, Chrysler's Hot Secrets, And You People Aren't Kinky Enough

It's Wednesday, so relax: you're halfway there. A new Bug -- After Romanian designer Iulian Bumbu polished off the Transportation Design Master Course at Alfa Romeo, he began re-envisioning the Lamborghini Gallardo. Bumbu's entomological Insecta concept draws inspiration from "the armored casings...Read More»

photo credit: amchu
Chrysler Cuts Clocks, Snowplows, Turns Down Thermostats

Taking a line from former president Jimmy Carter's admonitions to the American people during the energy crisis of the late 70s, Chrysler is turning its thermostats down in hallways from 72 to 68 degrees Fahrenheit at its Auburn Hills headquarters. They're also removing most wall-mounted clocks...Read More»

Art car madness
Link Love From The Car Connection: Hot Art Cars, Lame Holograms, And The iChange Did It

Welcome to Tuesday, ladies and gents. With the industry hearings in D.C., it's bound to be a very busy day, but here are a few lighthearted links to distract you from all the grisliness: We just hope the cars remain crash-free -- Tech outfit Hughes Telematics has seen the future, and it looks a lot...Read More»

Saturn Logo
GM Pares Divisions; Saturn On The Way Out

"My personal favorite would be to see Saturn survive and prosper," said GM vice chairman and car guru Bob Lutz, speaking to Automotive News. "But frankly, the reality is that that is probably not going to be the outcome." The rather wordy Lutz (he's sounded off a bit lately, given his job title...Read More»

Nicholas II as The Car Czar
Obama Overthrows Car Czar

All that talk and speculation about who will or won't be named Car Czar has apparently been for naught: senior officials in the Obama administration announced today that the president will create an inter-agency task force to oversee the restructuring of America's auto industry, rather than placing...Read More»

GM Logo
GM Announces Pay Cuts And 10,000 Layoffs For Salaried Workforce

Surely everyone saw this coming: GM just announced that it's cutting 10,000 salaried jobs from its global workforce by the end of 2009. But wait, there's more: the company is also instituting pay cuts for its salaried employees in the U.S., effective May 1. Happy Tuesday! Of the planned 10,000...Read More»

1976 Chrysler Cordoba Sport Coupe
Cash For Clunkers Part Deux: Yield Cordoba, Get 10K From Uncle Sam

Richard Read just reported that the Senate passed car buyer-friendy legistlation yesterday, aimed at easing the financial burden of getting into a new car. Well, if Michigan Senator Debbie Stabenow gets her way, the deal will get even sweeter for owners of aging autos; they will be able to get up...Read More»

U.S. Capitol
Congress Wants To Put YOU Behind The Wheel Of A New Car

Yesterday, with a vote of 71-26, the U.S. Senate passed new legislation allowing new car buyers to deduct auto taxes and interest on car loans on their federal tax returns. (See how your elected officials voted here!) The bill was sponsored by Senator Barbara Mikulski (D-MD) and is expected to cost...Read More»

Mission One by Yves Behar
Link Love From The Car Connection: Fastest Electric Motorcycle, Lambos On Fire, Esurance Remains Highly Annoying

The week's almost over. Here's some link love to make Thursday go down easier. Dude, NOT COOL: Over in Brussels, a couple of teens torched a perfectly good Lamborghini Gallardo Spyder. Either the kids in Belgium are especially ruthless these days, or someone's spiked the waffle mix. Colin Farrell...Read More»

2017 GMC Sierra 1500 2WD Double Cab 143.5" Side Exterior View
Chrysler, GM Offer Buyouts; Chrysler's Package Bigger

Chrysler and GM are working hard to get their business plans in shape by February 17: that's when they have to return to D.C. and speak to all those terribly nice senators and representatives about the things they've done to earn their bailout dollars. A key element in those restructuring plans...Read More»

Chrysler pentastar
Chrysler Getting Whipped, Possibly Into Shape

If you were to rank the basic rules of PR, somewhere in the top ten you'd find this: "Always keep yourself in the public eye." Pretty obvious, right? But what happens when you don't have much to say? You send out lightweight press releases that create news from nothing, of course. That's...Read More»

money
Ford Posts Record Loss But Still Isn't Running On Empty

Like many automakers, Ford hit the skids last year. Also like many automakers, Ford's 2008 losses were legendary: the company closed out the year a whopping $14.6 billion smackers in the red. Worst. Year. Ever. (Really.) Still Ford insists it's doing fine. (Really.) The company burned through $5.5...Read More»

The talented cast of Bob and Carol and Ted and Alice
Chrysler Looking For A 'Safety Date'

Chrysler is kind of like that guy in romantic comedies--you know, the one who schedules two dates in the same night, often with hilarious results? Except this time, the results may not be so funny. For a while, the company has had casual, NSA relationships with Volkswagen and Nissan, helping to...Read More»

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