The automobile business is great. Just ask someone who's in it. "People want to buy cars," says Rod Buscher, CEO of Summit Automotive Partners in Denver, which owns 30 assorted dealerships nationwide. And he really wants to sell cars. The problem is that would-be buyers lack either the income or the access to credit that would allow them to drive a new Malibu or Lincoln or Camry off the lot. That won't last forever; in fact, the automobile business figures ...

After firing the CEO of General Motors and putting Chrysler on a path that could lead to bankruptcy, the still-popular President Obama moved from the domestic battlefield to the international one. But the subject is the same, with no relief in sight: the woeful world economy. (CNN) -- After firing the CEO of General Motors and putting Chrysler on a path that could lead to bankruptcy, the still-popular President Obama moved from the domestic battlefield to the international one. But ...

In his first week as president and chief executive officer of General Motors, Fritz Henderson expressed optimism that he can steer the company out of the economic rut in which it has stalled. "The challenges are immense but, you know, let's bring it on," Henderson said Wednesday. The 50-year-old GM lifer said the company has plenty going for it, from workers to dealers to customers, "so we need to get the job done. It's that simple." The federal government has ...

President Barack Obama made clear at his press conference on Monday that the U.S. government would stand behind warranties on cars purchased while the automakers restructure. "Let me say this as plainly as I can: If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always," Obama said. "Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, ...

German chancellor Angela Merkel on Tuesday pledged government support for potential investors in General Motors' European subsidiary, Opel. Her promise came in a speech to Opel autoworkers the day after U.S. President Barack Obama warned General Motors and Chrysler that they had limited time to "restructure in a way that would justify an investment of additional taxpayer dollars." The U.S. government said both companies would receive financial support to keep operating for 60 days -- time that would be used ...

Two fishing vessels carrying over 600 people sunk off the coast of Libya on Monday, according to Egyptian state television. It was not clear how many injuries or fatalities resulted from the incident. Shortly after President Obama announced he would give Chrysler and General Motors time to "restructure in a way that would justify an investment of additional taxpayer dollars," iReporters let their sentiments be known. "Flushing our money down the toilet," opined one. "GM Motors Forget about them!" barked ...

Americans don't favor handing billions more dollars to U.S. automakers, polls show. To some, it's another example of government helping Wall Street instead of Main Street, but for others, it's simply bailout burnout. Shortly after President Obama announced he would give Chrysler and General Motors time to "restructure in a way that would justify an investment of additional taxpayer dollars," iReporters let their sentiments be known. "Flushing our money down the toilet," opined one. "GM Motors Forget about them!" barked ...

Tough times call for tough measures. Nowhere is this truer than in Detroit's auto industry. News of General Motors -- once America's largest commercial enterprise -- possibly going out of business or eliminating divisions sends shudders through Wall Street and cities where GM employees work. Nadal, who took the year's first Grand Slam title by defeating Roger Federer in the Australian Open final, won 89 percent of his first serve points to just 57 percent for Gil. The Spanish star ...

General Motors CEO Rick Wagoner announced his resignation early Monday -- the latest change for the troubled automaker. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government's bailout strategy for the troubled automaker. "On Friday I was in Washington for a meeting with Administration officials. In the course of that meeting, they requested that I 'step aside' as CEO of GM, and so I have," Wagoner said in a statement ...

Few General Motors Corp. cars have ever had the mystique of the Chevrolet Camaro. A macho machine if ever there was one, the Camaro was launched in the 1967 model year in response to Ford's fabulous Mustang. The Camaro made waves quickly, because buyers had the option of muscling it up with GM's big-block V8 engines, turning a sporty 4-seat roadster into a street monster and track regular. Mustang had the name; but Camaro had the horses. Like many of Detroit's muscle ...