Is the federal government's "cash for clunkers" program a success? It has certainly been popular with car buyers, who have rushed to dealerships around the country to get their cars--and cash--under the program. In less than a week, the $1 billion put ...
In May, as part of their reorganization in bankruptcy, both Chrysler and General Motors announced that they would terminate their contracts with many of the local auto dealers who sell their cars. Chrysler terminated nearly 800 dealers the next month, ...
Congratulations: If you are a U.S. taxpayer, you will soon be a part owner of a car company. Under the latest reorganization plan for General Motors, Uncle Sam would take ownership of 72.5 percent of the troubled automaker while providing an additional ...
Over a month after formally announcing the plan, Treasury Secretary Timothy Geithner yesterday released details on his proposal for removing toxic assets from the balance sheets of banks and other financial institutions. The keystone of the program is ...
The much-anticipated debut of the Obama Administration's bank bailout plan was correctly viewed as a flop on both Wall Street and Capitol Hill. As announced Tuesday byTreasury Secretary Timothy Geithner, the plan is a grab bag of policies of doubtful ...
Would Washington do a better job running the automobile industry than Detroit would? Taxpayers may be about to find out. Under legislation proposed yesterday by congressional leaders, Detroit-based automakers would be offered some $15 billion in ...
Should Washington bail out Detroit? That is the question facing Congress as it reconvenes this week for a special post-election session. Nearly everyone agrees that, with losses piling up, Detroit automakers need to change the way they operate and ...
Treasury Secretary Henry Paulson recently announced yet another change in direction of the "Troubled Asset Relief Program" (TARP), sowing more uncertainty and confusion in the very financial markets the program is supposed to stabilize. Instead of ...
"The trouble with the world is not that people know too little, but that they know so many things that aren't true."--attributed to Mark Twain Easy answers are seldom correct ones. That principle seems to be at work as the nation struggles to discover ...
Accounting rules rarely garner much public attention, and for good reason: The business of toting up numbers is both devilishly complex and profoundly uninteresting to most Americans. This week, however, accounting was suddenly in the national ...
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