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Senate releases $350 billion more in bailout money
Fri, 16 Jan 2009The Senate voted Thursday to release a second round of $350 billion in federal aid to rescue financial institutions. The money could be the source of additional loans to automakers, auto finance companies and perhaps suppliers. An earlier allocation of $350 billion funded the first installments of emergency loans to General Motors and Chrysler LLC.
Lotus has a PR meltdown on Facebook
Wed, 11 Apr 2012Lotus Facebook PR Lotus has responded to the rumours flying around about their possible demise by posting a PR statement on Facebook. Badly. Earlier today we addressed the rumours flying around about Lotus – which range from administration to takeover via the disappearance of CEO Dany Bahar.
Crunch watch Dec 09: the auto industry in crisis
Wed, 30 Dec 2009Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Wednesday 30 December 2009• Saab's PR chief told AN that GM is extending the deadline for a sale to 7 January – and the Trollhattan factory will resume limited manufacturing in early January to build the new 9-5 and some 9-3 cabrios (Automotive News, subscription required)• Last night Bloomberg reported a Saab board member claiming that the 31 December deadline for a Saab sale or closure 'is not holy'. If GM receives a bid that is 'sufficiently interesting', it'll extend the deadline, said the Saab suit (Automotive News, subscription required)• GM is offering massive discounts on Pontiac and Saturn cars, as it seeks to get rid of the remaining stock from these terminated brands.