bailout

Can we please keep Google and IBM out of the government bail-out trough?

Apparently, even technology companies want a bail-out.

Recently, the CEOs of Google, IBM, and other technology companies converged on the White House to lobby President Obama for key measures like broadband investments to be included in the U.S. government stimulus package. It's one thing to see U.S. auto makers, perpetually inefficient and ineffective in the market, begging for government hand-outs. It's quite another to see the leaders of the world's most successful technology companies seeking the dole, as well.

Google CEO Eric Schmidt made it clear what he hoped to gain from his government intervention … Read more

One bailout after the next. So why not tech?

I must have been dozing in government class when they explained the part about how the U.S Constitution grants the legislative or executive branch the power to bail out failing businesses.

Joking, of course. Here's what the Constitution actually says: "The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people."

No, this isn't the start of a civics lesson. But what with the laundry list of corporations on Wall Street and Detroit lining up for government assistance, … Read more

The open-source bailout

Give someone a blank check to the tune of hundreds of billions of dollars, and it's amazing all the good that they can (purport to) do with other people's money.

Dean Baker, co-director of the Center for Economic and Policy Research, has put together his own list of bailout proposals, which included $2 billion to help fund open-source software makers.

Such a proposal should make open-source advocates like me happy, right?

Wrong. Open source is doing just fine without a government stimulus. In fact, I'd argue that the easiest way to discern a thriving industry is to … Read more

98: Chevy Volt on track or off the rails?

The bailout is done--now what? Is the Volt on track or off the rails? Who gets Automobile of the Year? Stop your teen from cell phone driving with a smarter key. Listen now: Download today's podcast Show notes

• Have we hit a wall on tech in our cars?

• Chevy Volt still on track

• New smart key cover blocks calling while driving

• Magellan sold to Mitac

• CNET looks at the Alpine iDA-X100

White House to provide loans to auto giants

The federal government will make billions of dollars worth of loans available to U.S. automakers to enable them to restructure and invest in fuel-efficient auto technologies like electric vehicles.

At a press briefing on Friday, President Bush announced the outlines of the plan which he said was meant to avoid a "disorderly bankruptcy."

Auto companies will have access to $13.4 billion from the $700 billion that was authorized to shore up the country's financial institutions. Another $4 billion would become available for the carmakers in February. The companies have until March 31 to demonstrate that … Read more

Auto bailout package fails in Senate

A federal assistance package to forestall a deeper financial crisis at U.S. auto giants ran out of gas in the Senate late on Thursday, giving the stock market a downward shock.

After passing the House and getting White House agreement, the Senate failed to get the 60 necessary votes to continue debate on the auto rescue bill.

General Motors and Chrysler, which have said they need billions of dollars in federal aid to continue operations, released statements saying they were disappointed with the Senate's vote. Ford lobbied for the aid because it said it would suffer damage from … Read more

Energy efficiency high on Obama stimulus plan

President-elect Barack Obama on Saturday said that building energy efficiency is central to his administration's economic recovery plan and outlined the conditions he intends to impose on ailing U.S. automakers.

In his weekly radio address, which is broadcast on YouTube, Obama laid out the planks a government-led spending program meant to revitalize the U.S. economy and create jobs.

"First, we will launch a massive effort to make public buildings more energy-efficient. Our government now pays the highest energy bill in the world. We need to change that. We need to upgrade our federal buildings by replacing … Read more

96: Driving the new Nissan 370Z

Driving the new Nissan 370Z, Detroit is close to the bailout it's begging for, punching holes in the hands-free panacea, and TomTom offers routing online. Listen now: Download today's podcast SHOW NOTES

• Nissan 370Z review

• Ford looking to sell Volvo

• TomTom online routing in early beta

• Study report on how cell phones are distracting, no matter what

Ford accelerates electric-vehicle plans

Ford Motor made electric vehicles a centerpiece of a turnaround plan presented to Congress on Tuesday, saying that it will introduce an all-electric van for fleet use in 2010 and a sedan in 2011.

The Big Three U.S. automakers are scheduled to return to Washington, D.C., this week with the hopes of negotiating loans to forestall a collapse from lack of cash.

All three companies are seeing a continued dip in sales, but Ford is considered far better off financially than General Motors and Chrysler. Ford on Tuesday said it could be cash-flow positive from operations by 2011, … Read more

Obama committed to green energy, auto bailout

The anxious auto and clean-energy industries have received positive signals from President-elect Barack Obama in the past two days.

In an interview with 60 Minutes broadcast on Sunday, Obama said he intends to pursue a government stimulus package that includes investments to promote clean technologies, even though oil prices have fallen dramatically during 2008.

Interviewer Steve Kroft asked whether cutting oil imports was less important now that the price of oil has plummeted from $147 a barrel earlier this year to under $60.

Obama: It's more important. It may be a little harder politically, but it's more important. … Read more