Sander Levin

Senators pursue new auto-aid strategy

Auto state senators are pursuing a new compromise that would allow ailing companies easier access to an Energy Department $25 billion loan fund but require that any money borrowed be repaid to that same account to preserve its...

Execs squirm under Senate's harsh glare

Christine Tierney and David Shepardson / The Detroit News WASHINGTON -- The chief executives of Detroit's once-mighty automakers came to Capitol Hill on Tuesday, cap-in-hand, to request urgent financial assistance but were...

Senate debates automaker bailout

BLOOMBERG NEWS SERVICE • November 17, 2008 U.S. senators began debating a Democratic proposal to give automakers part of a $700 billion financial-rescue fund, while a White House spokeswoman said the plan doesn't have enough...

Chrysler leaders get millions - USATODAY.com

Unsold Chrysler products sit at a dealership in Dormont, Pa. By Tom Walsh and Tim Higgins, Detroit Free Press As Detroit's crumbling auto industry asks Congress for a bailout, Chrysler is in the awkward position of paying about...

DAIMLER OK'D DEAL ON BONUSES: Chrysler execs get millions to stay put

As Detroit's crumbling auto industry asks Congress for a bailout, Chrysler is in the awkward position of paying about $30 million in retention bonuses to keep top executives while the company cuts thousands of jobs.

Voinovich signs on to auto bailout

Ohio Sen. George Voinovich (R) has agreed to sign a letter supporting government assistant for the auto industry, though not the full $25 billion package being floated by Rep. Barney Frank (D-Mass.). The auto industry picked up...

Dems' plan could include equity in automakers

NEW: Taxpayers would get stake in automakers in exchange for loans, aide says Democratic lawmakers want administration to use bailout funds to help automakers Republican leaders, White House have not signed on to deal Treasury...

Pelosi, Democrats Working To Bail Out Automakers (AHN)

House Speaker Nancy Pelosi (D-CA) is working with other Democrats to draft legislation bailing out the nation's ailing auto industry. The speaker is hoping to pass the bill when Congress meets for a lame duck session next...

"Friendly" Meeting Between Bush, Obama Focused On Economy, National Security (AHN)

Meeting at the Oval Office that will be occupied by a new commander-in-chief in 69 days, President-elect Barack Obama and President George W. Bush had a "productive and friendly" first meeting Monday afternoon about the economy...

GM Shares Dip; GMAC Mortgage Unit May Fail

Michigan Congressman Fights For Big 3's Slice Of Bailout Money POSTED: 3:18 pm EST November 10, 2008 UPDATED: 6:20 pm EST November 10, 2008 DETROIT -- Bad news kept piling up for General Motors Monday as its shares plunged to...

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