Facebook takes action with Obama assassination poll

Facebook are never out of the media attention and yesterday was no different. The social networking website had to remove a poll, you may wonder why they would remove a poll, well if the U.S. Secret Service contacts you then you know something is wrong. The reason for this was a poll about assassinating President Barack Obama. Read more

Cash for Clunkers: Failure or Success

We recently reported that the Cash for Clunkers program is set to end on Monday and with over half a million cars already scrapped under the scheme, there is now less gas guzzling vehicles on the road. CARS (Car Allowance Rebate System) have not been out of the news since its launch, and we now ask if the scheme has been a failure or success. Read more

Cash for Clunkers Voucher: From concept to reality

It’s amazing how successful the CARS (Car Allowance Rebate System) has been from the moment it was announced, and following the additional two billion dollars of funding came a new idea, the “Cash for Clunkers Voucher”.

Earlier this week you may have been aware that Rep. Fred Upton and Rep. Candice Miller promoted the Cash for Clunkers voucher idea to the Secretary of Transportation, Ray LaHood Read more

Cash for Clunkers Bill Update

Following the promise of an extra $2 billion for the Cash for Clunkers program, it now seems that Senate Majority Leader Harry Reid has the votes to allow the budget increase. This extra $2 billion will allow approximately half a million more Americans to use the Cash for Clunkers program.

It is thought that many Republicans apposed the plan for a budget increase; however Senate Minority Leader Mitch McConnell believed his party “would not block a vote”, and stated “The matter will be completed.” Read more

Cash for Clunkers Bill: Speaking Out

Earlier on, we reported on the Obama administration speaking out on the proposed extention to the Cash For Clunkers program. Now we have some more news for you to read now, as it has been reported that members of Congress have started to voice their opinions on the bill. Read more

Cash for Clunkers Program: Auto dealers advised to avoid

CNNMoney are advising that members of the National Automobile Dealers Association (NADA) are being advised to not close any more deals until details on the Cash for Clunkers schemes future is clearer, this comes despite Obama promise that any deals made over the weekend will be honored. Read more

Money and Cash For Clunkers: Obama administration hopeful

More on the Cash For Clunkers program now, as it has been reported that the Obama administration remain optimistic that the US Senate will extend the Cash For Clunkers program to a further date.

According to Reuters, the extension is good news for everyone concerned, but it is also thought that the program could be suspended during the week, without funding.

However, the Obama administration expects the approval of funding will go ahead as planned, which will earn consumers up to $4,500 for trading in their cars in favour of new fuel efficient ones.

Seems like the program is doing well so far, much to the delight of auto dealers. Let us know what you think. Read the full article over at Reuters.

Cash for Clunkers: Too Many Qualifying Cars

When the US government introduced the Cash for Clunkers Program 2009, they did not realize how popular it would become. It seems that too many qualifying cars was the reason that lead to the incentive being suspended. The Obama Administration is now fighting with congress to try to add another $2 billion into the fund. Read more

Cash for Clunkers Suspended: $2 billion increase will face hurdles

The U.S. government had a bit of a shock yesterday when they found that their Cash for Clunkers program had run out of funds, this lead to the incentive being suspended. The Obama administration has been working alongside Michigan lawmakers to make another $2 billion in funds available, but getting the extra money will face some tough hurdles. Read more

Cash for Clunkers Program 2009: Not for everyone

We have spoken about the new Cash For Clunkers Program 2009 and offered the full list of eligible vehicles, but it seems that this latest incentive from the Obama administration is not for everyone. This latest incentive from the government has been put in place in the hope of enticing car owners to trade in their older vehicles for a new more fuel-efficient model. Read more

GM, Chrysler and U.S. Treasury’s role

The U.S. Treasury has said that they will not step in and get involved in any of General Motors Co (GM) or Chrysler LLC management decisions, even though they have pumped more than $70 billion to help them restructure their companies while in bankruptcy. Read more

Rick Wagoner’s Pension Package: Former GM CEO

Rick Wagoner, the former CEO of General Motors (GM) has now received a pension package worth $8.6m (£5.2m); this was part of his deal after being fired by the Obama administration back in March. This deal took a while to negotiate; we wonder if Wagoner will be happy with the amount? Read more

Banned From US Import: Sharp LCD Panels

According to the Los Angeles Times a huge blow has been dealt to Sharp Corp, they have recently lost a U.S Trade Commission ruling stating that they infringe a patent held by Samsung. According to Engadget and The Los Angeles Times this has resulted in a ban on Sharp importing LCD’s into the U.S, for this ban to become effective it will have to be scrutinised by President Obama.

The infringement is said to have occurred with some of Sharp’s LCD’s (Liquid Crystal Displays) and some computer monitors, this wasn’t the only patent which Samsung felt was infringed however the U.S Trade Commission overturned the other accusation. Read more

Fiat and Chrysler: Supreme Court will allow sale

The deal with Chrysler and Fiat is on again after the U.S. Supreme Court has said that it will allow the sale to go ahead. This means that Chrysler LLC will be able to sell its assets to a group being led by Italian carmaker, Fiat. The deal was put on hold due to the Indiana pension funds and consumer advocates tried to block the sale of Chrysler assets, but U.S. Supreme Court refused to grant a stay. Read more

Supreme Court halts Chrysler deal with Fiat: Only temporary.

The sale of Chrysler to Fiat has been halted by the Supreme Court following an emergency appeal, which asks for the impending sale of Chrysler to the Italian automaker Fiat to be halted. The government has been behind the sale, so is a huge blow to the Obama administration. Read more

Appeal to block sale of Chrysler’s assets

For those of us who thought that the sale of Chrysler’s assets would go smoothly, then think again. It seems as though a federal court has agreed to hear an appeal to block the sale of the struggling automakers assets. This move could certainly slow down Chrysler’s exit from bankruptcy proceedings. Read more

General Motors bankruptcy and saving Opel from insolvency

Germany seem a lot happier now since the events that unfolded on Saturday, a new deal with Magna, General Motors and the U.S. government have helped to save Opel from the bankruptcy of GM, which they have since filed for today. Read more

Confirmed: General Motors (GM) has filed for bankruptcy

We now have the news that we have all been waiting on, General Motors (NYSE:GM) have confirmed that they have filed for bankruptcy protection. This is a sad day for GM, as it has now marked the end of financial independence, the 100-year-old automaker was once a force in the auto industry, it was once the largest in the world. Read more

General Motors Corp bankruptcy filing planned for Monday

Plans have now been finalized between General Motors Corp (NYSE:GM) and the U.S. government for the troubled automaker to reorganize itself, as GM will file for Chapter 11 bankruptcy protection on Monday. The automaker is now facing an uncertain future, one that we will all be keeping an eye on. Read more

After GM and Chrysler Dealerships Closing: The Road Ahead

The closing of GM and Chrysler dealerships and the impending bankruptcy filing would produce leaner automakers. There is a problem though, these companies will still have huge debt and will also damage their image. Read more

Next Page »