Big Three

As in the summer of 2008, when prices broke $4 a gallon, big jumps at the gas pump may give car buyers reason to pause and cause vehicle sales to stall. At least the carmakers now have more fuel-efficient fleets, except for Chrysler, which is still catching up.

Back in 2009, General Motors applied to the Department of Energy for $14.4 billion in loans to help it manufacture more fuel-efficient vehicles. Today, with the automaker making big strides in turning around its business, GM said it no longer needs or wants the money.

With U.S. automotive dominance waning, a new moniker has emerged: the "Detroit Three." Still, don't count out Ford, GM or Chrysler. Their post-recession future looks strong, thanks to some agonizing restructuring. Now, they can be profitable selling fewer cars.

Year-over-year gains are again likely when automakers report November U.S. sales figures Wednesday. But a drop from this October's level is on tap. Detroit probably fared better than its foreign counterparts as sales rebounded further from last year's anemic levels.

Ford, General Motors and Chrysler have been granted a combined $2.1 billion in tax breaks to invest in 17 new projects in Michigan, the state's economic development agency said Tuesday.

Ford and General Motors reported higher sales in January, with Ford fleet sales surging 154%. Detroit's gains came as consumers avoided the showrooms of the largest Japanese competitor, Toyota, which is mired in massive recall involving millions of vehicles.

Ford (F) is under some new pressure. It is now officially the only publicly traded U.S. auto stock, the proxy for the entire industry. A bankruptcy judge approved the sale of GM's assets last night. Not so long ago, investors could trade Daimler-Chrysler, and only a month ago Wall Street could...

The bankruptcy of General Motors Corp. (GM) is almost as inevitable as the sun rising or the New York Mets collapsing in September. GM is going beyond an earlier plan to slash debt by 46 percent and axe 47,000 jobs this year. The company has little choice but to consider more draconian measures...

I live in Detroit where the meltdown of the American auto industry is up close and personal.My next-door neighbor Paul works for Ford, assembling bumpers. He works an eight-hour shift picking up one bumper after the other and bolting it on. He's one step away from being laid off, even though he has...

I've been against the whole concept of "government bailouts" of private businesses from the start. The theory was that we, as consumers, needed the government to prop up failing businesses because they were so vital to our economy. My personal theory has been that we need the free market do the...