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Was the fourth quarter of 2008 good to Chrysler? Since Thanksgiving it has had to cut more than 5,000 salaried jobs and close an assembly plant; it staggered through December with a 53% drop in sales. But the season was not without good tidings: Chrysler got $4 billion in...

Author: /time Magazine | Title: The Auto Bailout Keeps Growing, and Growing | 1/14/2009 | See Source »

General Motors is getting an even bigger boost. After GM collected $9.4 billion in federal loans last month, its finance arm GMAC, which GM jointly owns with Cerberus Capital LLC, got a Treasury Dept loan of $6 billion. GMAC has been hammered by both the sharp decline in sales of...

Author: /time Magazine | Title: The Auto Bailout Keeps Growing, and Growing | 1/14/2009 | See Source »

The auto industry bailout saga is working its way up and down the supply chain. Shortly before Christmas, the Federal Reserve Board quietly provided $200 million of support aimed specifically at auto dealers, who have had a difficult time financing their inventories - forcing some of them out of business. The...

Author: /time Magazine | Title: The Auto Bailout Keeps Growing, and Growing | 1/14/2009 | See Source »

Don't press the Total key on your calculator just yet. Congress is also supposed to appropriate another $3.3 billion to finance research on new high-tech batteries that could be used for cars. The money had been authorized under the same 2007 energy bill that authorized the $25 billion...

Author: /time Magazine | Title: The Auto Bailout Keeps Growing, and Growing | 1/14/2009 | See Source »

After the 1989 Tiananmen leadership purge, when Jiang Zemin and Li Peng took over from more liberal leaders, the reforms championed in the 1980s by a wave of largely rural entrepreneurs were stalled, and officials sought to reassert authority. In this "great reversal," Beijing's Xiushui Market, a thriving shopping...

Author: /time Magazine | Title: The Aborted Revolution | 1/14/2009 | See Source »

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