To the Point
The Auto Industry: In Survival Mode
GM and Chrysler may be on the verge of bankruptcy, but auto sales are declining so fast the entire industry is in trouble. We assess the prospects for its survival and what the future might look like. Also, Capitol Hill outraged at AIG, and democracy and instability in Pakistan.
By Warren Olney • • 1h 0m ListenGM and Chrysler may be on the verge of bankruptcy, but auto sales are declining so fast the entire industry is in trouble. We assess the prospects for its survival and what the future might look like. Also, Capitol Hill outraged at AIG, and Pakistan confronts instability amid hopes for democratic reform.
Banner image: A tow truck driver loads a Four Runner onto his truck at Superior Toyota of Oakland February 25, 2009 in Oakland, California. In business for just over a month, the 200,000-square-foot mega dealership, unexpectedly shut its doors yesterday throwing about 100 employees out of work. Photo: Justin Sullivan/Getty Images
In this episode
3 storiesAIG Outrage Runneth Over on Capitol Hill
The failed American Insurance Group paid 73 executives bonuses of a million dollars or more, eleven of whom are not with the company any more. Today, Democrats began writing bills to require that $165 million in bonuses, paid for with taxpayer dollars, be returned. Michael Kranish is based in Washington for the Boston Globe .
Read the story6 minCar Sales Drive off the Proverbial Cliff
President Obama’s automobile task force is in Michigan this week to assess the so-called “viability plans” of Chrysler and General Motors. The task force already has determined not to recall the $17 billion in government loans approved by the Bush Administration, and have emphasized that bankruptcy is not their preferred option. But their…
Read the story34 minCan Pakistan Sustain a Two-Party State?
GM and Chrysler may be on the verge of bankruptcy, but auto sales are declining so fast the entire industry is in trouble. We assess the prospects for its survival and what the future might look like. Also, Capitol Hill outraged at AIG, and democracy and instability in Pakistan.
Read the story9 min