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These are hard times for car dealers. Across the nation, General Motors and Chrysler dealerships are pulling down their big roadside signs and closing their doors.
The companies say they have no choice but to cut the cord and save money. The dealers, who say they are being scapegoated for the epic problems at GM […]

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Yahoo on Thursday announced it has appointed longtime General Electric veteran Tim Morse as its new chief financial officer.
Morse currently serves as the CFO of semiconductor company Altera Corp. (ALTR), a position he’s held since January 2007. Prior to Altera, Morse was at GE (GE, Fortune 500) for 15 years, including a stint as […]

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Bank of America chief Ken Lewis told lawmakers Thursday that pressure from federal regulators played an important part in the company’s decision to continue with its planned acquisition of Merrill Lynch late last year.
Testifying before the House Committee on Oversight and Government Reform, Lewis said that threats by regulators to remove management or board […]

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A Wentzville auto dealer filed a lawsuit Wednesday alleging that several of Chrysler’s executives and employees conspired to "drive the dealership out of business."
Century Motor Corp., which sold new Dodge, Chrysler and Jeep vehicles, claims the group worked to make sure the dealership was among hundreds of dealers nationwide that were cut by […]

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The House on Tuesday waded deeper into the rescue of the troubled auto industry when it passed a $4 billion plan to subsidize new cars sales for consumers who scrap old ones.
By a vote of 298-119, the House approved the "cash for clunkers" program.
The measure would give consumers vouchers worth as much as […]

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Qwest Communications International Inc. said Monday it is not selling its long-distance phone network after completing a comprehensive review and a bidding process with interested parties.
The company’s shares fell more than 4% in premarket trading after Qwest (Q, Fortune 500) said the company had decided that the phone network asset holds far more value […]

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Italian automaker Fiat will not walk away from its deal to buy bankrupt Chrysler LLC, a spokesman said on Tuesday after a U.S. court delay threw the deal into doubt.
Both Chrysler and the Obama administration have said a long delay could kill the deal and end up with Chrysler’s liquidation, and Fiat can walk […]

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The last thing the battered U.S. labor market needs are the current problems at GM and Chrysler.
There have been some signs that the job market might be slowly improving. The number of people filing for new jobless benefits has declined for three straight weeks, and both payroll processing firm ADP and outplacement firm Challenger […]

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South Korea’s government said it’s “too early” to be too optimistic about the economic outlook, as the economy faces a number of uncertainties including the global financial-market unrest.
“The local economy is continuing its recovery trend and the global economic slump is showing signs of easing,” the finance ministry said in a monthly economic […]

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Fresh signs emerged Monday that the recession is letting up.
Manufacturing’s slide is slowing. Builders are boosting spending on construction — including homes. And consumers aren’t cutting back as much as feared.
A trio of reports gave Wall Street a big lift on the same day that industrial icon General Motors Corp. […]

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