Word: auto
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...spree triggered by their access to cash and an eye to assets in other parts of the world beaten down by the recession, the fight over whether some assets are "too big to be bought" is heating up. There have been rumors that Chinese car companies might bid for auto brands in the U.S. and Europe. China's sovereign fund may be a bidder for AIG's (AIG) huge airplane lease division ILFC...
...pockets of resistance grow, GM may not have as easy a path through a bankruptcy court as Chrysler has had. Congress may decide to have an extended debate over whether the Treasury has the right to disintermediate bondholders and union workers. If the argument goes on long enough, the auto industry's restructuring could still turn into a liquidation...
...first 100 days, President Barack Obama has had to address torture, pirates, rising unemployment, trouble in the auto industry and corruption on Wall Street [May 4]. Yet at last I have seen Americans begin to hope for a stronger America. Congratulations, Mr. President, for giving Americans something they badly lacked. Anthony P. Johnson, PHILADELPHIA...
What's most notable about the proposed regulations - and what gives environmentalists hope for further action on climate change - is Obama's apparent success in bringing the U.S. auto industry to the table. Automakers have fought long and hard against tougher fuel-economy standards, claiming such rules would raise the cost of vehicles and that consumers have shown little preference for more fuel-efficient models. But major auto executives, such as General Motors' new CEO, Fritz Henderson, are expected stand alongside Obama at the White House on Tuesday when the President makes his announcement, signaling their support. "It will establish...
...newly proposed regulations will still have to go through the usual period of commenting, and there's always a chance that such a fragile coalition of politicians, greens and auto executives could collapse. But the very fact the White House brought - and kept - everyone at the table offers some hope as the much tougher battle over carbon cap and trade boils in Congress. "President Obama made the creation of a clean-energy economy a key aspect of his domestic agenda, and he's fulfilling that," says Weiss. It's a good start - but there's still a long road ahead...