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In an attempt to raise capital, Ford announced today its plan to offer 300 million shares of common stock. The sale of the stocks would be used partly to pay off Ford’s healthcare obligations to the United Auto Workers union as per the terms …

By now, it’s no huge secret that GM is going to do something drastic to prove to the government its viability and prove that it should be getting the $13 billion loan from taxpayers, but what may be a bit more of a surprise is …

Both General Motors and Chrysler are attempting cut cut their workforce by offering employee buyouts and car vouchers.
From Reuters:
GM will offer its U.S. hourly workers $20,000 in cash and a $25,000 voucher to buy a vehicle as an incentive to retire or leave the company, …

I wrote a post a week ago about how the UAW is partially to blame for the failure of the Big 3 auto companies. Well, last night the Senate shot down the bailout bill because the UAW would not agree to cuts in compensation. hmm. …

In a 20/20 segment titled “Gimme A Break” John Stossel said “Toyota isn’t asking for a bailout. Neither are Honda or Nissan. Yet, they all sell and build cars in America.” He says that Honda just opened a new plant and is producing MORE cars.
So …