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Paulson says Congress should aid automakers
WASHINGTON (Reuters) – Treasury Secretary Henry Paulson on Thursday encouraged Congress to come up with the funds to help ailing Detroit automakers, but stuck to his position that the government’s $700 billion bailout fund is for financial institutions only. In an interview with Bloomberg Television, Paulson said there were “other paths” to help automakers...
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Ford loses $2.9 billion on automotive operations in third quarter
Struggling Ford Motor Co. today posted a narrower net loss for the third quarter, but said it lost $2.9 billion on automotive operations during the period as demand for its vehicles collapsed. The No. 2 U.S. automaker also said it would make further cuts in its white-collar worker ranks in an attempt to further...
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Toyota’s run into trouble shows no one is immune
Toyota is a benchmark for the global car industry, as it is the world’s most profitable big producer and a competitor other automakers openly admire and copy – and quietly fear. Its management principles – notably kaizen , or continuous improvement of its operations through constant tweaks to everything it does – are industry...
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Saleen Automotive looking for buyer
Saleen Automotive is the latest American carmaker to announce that it is seeking a potential buyer, with management acknowledging the firm has suffered financially from the economic downturn and rising fuel prices. Saleen is a specialty vehicle manufacturer and a long-time tuner Ford tuner, and most recently unveiled its own concept vehicle, the Raptor...
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