Word: creditably
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...just falling prices that are causing companies to pull back. Some are worried that Democrats in Washington will soon push through regulations that will increase costs. What's more, Simmons says, the credit crunch is having an effect. "Drillers have to rely on their own cash flow, and that means some projects don't work anymore," says Simmons. "No one wants to count on bank financing...
...addition, GM had several strikes against it going into November. Its financial problems were well known, so customers may have been worried about a potential bankruptcy and stayed away. Also, GMAC, GM's finance arm that provides credit to car buyers and dealers is practically out of money itself. It has stopped financing leases and lends money only to the most creditworthy customers. A year ago, GMAC provided financing for nearly half of GM's retail sales. Today that figure...
...closer look at the numbers reveals some systemic problems that aren't related to the current credit crunch and that GM will have a hard time overcoming. (Read "GM: Death of an American Dream...
...President Ron Gettelfinger said Wednesday afternoon that the union was taking two immediate steps to help bolster the three struggling automakers, which he said are suffering a triple calamity of collapsing sales, tumbling consumer confidence and the frozen credit markets. (See pictures of the recession...
...role is to make sure that the right questions are asked as early as possible,” Warren said of the part her panel for the oversight of the bailout plan should play. “You can’t just say, ‘Credit isn’t moving through the system,’ ” she said. “You have to ask why.” Warren noted the speed with which the economy tumbled into crisis and the degree to which lawmakers were caught off guard. “There...