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Super Bowl Ad Sends Shivers Through Motor City [VIDEO]
By not in system - AOL NewsDETROIT -- To a pulsating beat, hip-hop star Eminem drives a sleek Chrysler through the streets of Detroit, proudly cruising by the city's landmarks, towering skyscrapers and the hopeful faces of its people. His journey ends with an unapologetic message: "This is the Motor City, and this is what we do." A day after it aired, one of the most-talked about Super Bowl ads sent shivers of pride through the battered city, which hopes car buyers are willing to look past Chrysler's billion-dollar bailout and embrace the idea that if a vehicle is "Imported from Detroit," that's reason enough to buy ...
Obama in Kokomo Makes Case for the Economy, Bipartisanship on Bush Tax Cuts
By Alex Wagner - Politics DailyHeading into the Thanksgiving holiday, President Obama and Vice President Joe Biden traveled to a Chrysler plant in Kokomo, Ind., on Tuesday to tout the resurrection of the American auto industry and make the case for their administration's handling of the economy. Highlighting the resuscitation of the plant from near-death to full capacity, Obama suggested the factory was a model for the rest of the country, and asserted, "We are moving in the right direction." But the president warned that progress on other important economic issues, including the Bush tax cuts, which are to expire at ...
Who Deserves Credit for GM's Revival?
By not in system - AOL News(Nov. 17) -- Punctuating an astonishing turnaround, General Motors will offer its stock to the public Thursday in what could be the biggest IPO in U.S. history. As investors line up to place their bets, it's striking to think that just 16 months ago the automaker was on its deathbed. With that in mind, who deserves credit for GM's revival? Business writers wrestle it out: It's an Amazing Turnaround Story, writes Halah Touryalai at Forbes: GM stock has become such a hot item that underwriters stopped taking orders for the IPO yesterday, which was more than seven times oversubscribed, ...
Good News on GM and the Auto Bailout, but Will Americans Care?
By Jill Lawrence - Politics DailyIf this week follows the normal pattern, the public stock offering Thursday by a resurgent General Motors will not be seen as evidence that presidents George W. Bush and Barack Obama made wise decisions to help the tanking auto industry. No, it will probably just remind Americans that the federal government is really, really big these days. That is, of course, true. In part it's true because of two protracted wars and the money the government has spent to stabilize an economy that two years ago was in a stomach-lurching freefall. It seems true because of new regulations to reorganize the ...
Five Positive Economic Signs for Obama and the Country
By David Knowles - AOL News(Nov. 5) -- It's the economy, stupid, and it seems to be getting better. Because of a bad economy, Democrats and President Barack Obama were "shellacked" in the midterm elections. As that drama unfolded over the past week, a slew of new indicators is showing that the nation's economy had already begun turning in the right direction. Surge Desk has a roundup. 1. Job growth On Friday, the Labor Department announced that the U.S. economy added 150,000 jobs in October, higher than most analysts' expectations. It was the first positive job growth figure since May. In addition, the Labor ...
Suddenly, US Automakers Are Doing Just Fine
By David Knowles - AOL News(Nov. 3) -- Back from the brink. The Big Three U.S. automakers posted solid sales in October, roughly two years after two of them received massive bailouts from the Obama administration. Ford said its October profits were up 19.2 percent from the year before, Chrysler saw a 37 percent jump and General Motors notched a 3.5 percent annual sales gain, The New York Times reported. Sponsored Links By comparison, Toyota saw a 4.4 percent drop in year-over-year October sales from 2009 to 2010, The Wall Street Journal reported, though the company has seen an overall increase in sales of 0.6 ...
Opinion: Three Cheers for Government Bailouts
By Michael Cohen - AOL News(Oct. 6) -- There is perhaps no word more likely to stoke the anger of ordinary Americans than "bailout." Whether it's the hundreds of billions spent to save the financial industry or the tens of billions allocated to rescue America's carmakers, Washington "bailouts" of private industry have come to symbolize all that is wrong with our supposedly omnipresent and overbearing federal government. But there's one serious problem with all this anger -- it's utterly misplaced. Government bailouts have actually been a true success story that prevented a far worse economic calamity. Rather than a ...
Obama Champions Auto Industry Turnaround in Michigan
By Alex Wagner - Politics DailyChampioning the federal government's bailout of the American car industry as "the right thing to do," President Obama Friday took to Michigan to trumpet the turnaround of two flagship American businesses that had been left for dead just over a year and a half ago. Visiting a Chrysler plant in Detroit, Obama told 1,500 employees and local leaders, "You have proved the naysayers wrong," and avowed his "belief in the American worker and the American economy." He continued his whistle-stop tour at a General Motors plant in Hamtramck, Mich., where the new hybrid electric Chevy Volt will soon roll ...
Ilya Kovalchuk Contract Rejection Could Be Tip of Iceberg
By Bruce Ciskie - AOL NewsThe train has been rolling for some time. It's just that the NHL just now decided it had to be stopped. Lou Lamoriello and the Devils might not be humored, but there are around a half-dozen NHL players who are laughing now. They are the players who already received big-money, front-loaded contracts that take them close to or past age 40. The league has expressed displeasure with these deals, but only Tuesday did they put those feelings to action. Tuesday night, reports surfaced that the NHL had rejected forward Ilya Kovalchuk's 17-year, $102 million contract with New Jersey, on the grounds ...
Chrysler to Recall Nearly 600,000 Jeeps, Minivans
By not in system - AOL NewsDETROIT (June 7) -- Federal regulators say Chrysler is recalling nearly 600,000 Jeep Wranglers and Chrysler and Dodge minivans for brake or wiring problems. The National Highway Traffic Safety Administration said on its website Monday that Chrysler is recalling 288,968 Jeep Wranglers from the 2006 through 2010 model years due to a potential brake fluid leak. Chrysler also is recalling 284,831 Dodge Grand Caravan and Chrysler Town & Country minivans from the 2008 and 2009 model years because a wiring problem can cause a fire inside the sliding doors. On the Jeeps, the front inner fender ...
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