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Laid off? Hyundai will take your car back (CNN Money)
Hyundai Motor America is taking aim at Americans' worries about job security: If you buy a new Hyundai and lose your job within a year, you can give it back. Auto dealers: Deep-freeze on vehicle sales will thaw (The Indianapolis Star)
With funds now flowing, GMAC announced it would loan cash to consumers at low interest rates. Car Bankruptcy Cited as Option by White House (The Hendersonville Times-News)
A Bush administration official said a managed bankruptcy would be a last resort if an agreement for a voluntary overhaul could not be reached. How to Sell a Detroit Bankruptcy (BusinessWeek)
Car Bankruptcy Cited as Option by White House (New York Times)
The White House raised for the first time on Thursday the prospect of forcing General Motors and Chrysler into a managed bankruptcy as a solution to save the companies from financial collapse, The New York Times's David E. Sanger, Bill Vlasic and Micheline Maynard reported. Bush floats bankruptcy as an option (The Toledo Blade)
WASHINGTON - The White House raised the prospect yesterday of forcing General Motors and Chrysler into an "orderly" bankruptcy as a solution to save the companies from financial collapse. White House spokesman Dana Perino confirmed speculation within legal circles that President Bush and Treasury Secretary Henry Paulson, Jr., are considering the step. "There's an orderly way to do ... Bankruptcy gets place in auto bailout talks (The Sarasota Herald-Tribune)
The White House confirmed it was being considered White House mulls Detroit bankruptcy option (GlobalTV Ontario)
U.S. President George Bush's administration confirmed it is weighing a managed bankruptcy for Detroit's ailing automakers as an alternative to a straight rescue package, a move one analyst called "an unmitigated disaster" in the making. Auto slump hits hard in car-mecca California (The Sacramento Bee)
John Hancock, president of Kargo Master Inc., last week walks through the company's Rancho Cordova plant, where cargo racks for vans and trucks are made. Kargo Master's payroll has been cut in half. The Saturn dealership, closed two weeks ago, is still jammed with cars; signs at the curb promote a red-tag sale. The Ford dealership, closed since June, sits empty, stripped clean. These ... ‘Already Bankrupt' GM Won't Be Rescued by U.S. Loan (Update5) (Bloomberg)
Dec. 12 (Bloomberg) -- For General Motors Corp. , the question is no longer whether it will get a government loan or if Chief Executive Officer Rick Wagoner will be replaced. It's whether anything can prevent the largest U.S. automaker from sliding into bankruptcy.
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