The Federal Reserve has one last Christmas gift for the auto industry. It's allowing GMAC, General Motors's financing arm, to become a bank holding company -- which makes it eligible for TARP funds. Jeremy Hobson reports.
Christmas came early for the Big 3 when the White House announced it would bail out the troubled automakers. But how would bankruptcy compare to the government rescue? Tess Vigeland speaks with bankruptcy expert Douglas Baird.
With a $17 billion loan package for General Motors and Chrysler come strings attached involving wages. But the United Auto Workers union isn't entirely satisfied, which could make negotiations ahead rocky. Steve Henn reports.
The $17.4 billion that President Bush made available to General Motors and Chrysler today is being seen by auto industry analysts as only a temporary lifeline. Big decisions await the next administration. Nancy Marshall Genzer reports.
Like the Big Three, Honda is also having a hard time selling cars. The company issued profit warnings for the third time this year. Steve Chiotakis talks to Marketplace's Alisa Roth about how the automaker is saving cash.
There may be a large contingent of greener cars on the road, but gas guzzlers and other fuel-consuming vehicles are still zooming down the freeways. Commentator Virginia McConnell says that higher gas prices and taxes could be good for the auto industry and us.