Nov 20th, 2008 · Worry that the U.S. auto industry could collapse has added to recession jitters on Wall Street. The Dow Jones industrial average finished down nearly 430 points Wednesday, falling below the 8,000 mark — levels not seen since 2003.
Nov 19th, 2008 · Executives from Detroit's Big Three automakers are back on Capitol Hill — appearing before a House committee Wednesday. They pleaded with the Senate Banking Committee Tuesday for a $25 billion lifeline. They warned of a national economic catastrophe should they collapse, resulting in millions of layoffs. Dustin Dwyer reports for Michigan Radio.
Nov 13th, 2008 · Pulitzer Prize-winning journalist Gretchen Morgenson discusses the unprecedented collapse of Merrill Lynch, America's most famous brokerage house.
Nov 13th, 2008 · Advocates for the nation's automakers are warning that the collapse of General Motors could set off a catastrophic chain reaction in the economy. Douglas Baird, a professor at the University of Chicago Law School, says in order to fix its financial problems, GM needs to confront its challenges head on. Baird tells Ari Shapiro that getting a bailout won't solve the car companies' problems.
Nov 12th, 2008 · In 1979, Chrysler avoided collapse by getting $1.5 billion in loans from the government, but the company also had to come up with some $2 billion in concessions. Charles Hyde, professor of history at Wayne State University and author of Riding the Roller Coaster: A History of the Chrysler Corporation, offers his insight.
Nov 11th, 2008 · The Big Three automakers say they are on the brink of collapse. A recent study by the Center for Automotive Research says a total failure in Detroit could lead to a loss of 3 million jobs nationally. Patrick Anderson, CEO of the Anderson Financial Group, offers his insight.
Nov 11th, 2008 · The "real culprit" behind Circuit City's collapse is bad management, says Time magazine staff writer Anita Hamilton. She says Circuit City's failure to secure better locations for its stores, develop a stronger Web presence and provide good customer service all contributed to lost sales and revenue.
Nov 10th, 2008 · Miriam Makeba, whose voice gave South Africans hope when the country was gripped by apartheid, has died of a heart attack after collapsing on stage in Italy. She was 76.