Worldfocus » bailout

Foreign automakers play a role in bailout dispute

Worldfocus — Fri, 12 Dec 2008 18:23:43 +0000

The U.S. Senate voted down a $14 billion bailout package for automakers.

The United Automobile Workers union and members of Congress were unable to reach an agreement over wage concessions. Some members of Congress proposed that wages of U.A.W. members be lowered to compete with those of workers at non-union U.S. plants run by foreign automakers like Toyota or Honda.

Following news of the rejection, stocks fell in Europe and Asia.

Roben Farzad, a senior writer and columnist for BusinessWeek magazine, joins Martin Savidge to discuss the future of General Motors, Ford and Chrysler and how overseas auto manufacturers are benefiting from the confusion surrounding these automakers. He also explores wage rates for workers and the role of foreign automakers in the rejection of the bailout package.

Roben Farzad of BusinessWeek magazine discusses the defeat of the U.S. auto bailout package and the impact on foreign automakers. /files/2008/12/th_world_autofarzad1212.jpg /files/2008/12/th_world_autofarzad1212.jpg

U.S. auto industry distress ripples abroad

Worldfocus — Thu, 04 Dec 2008 20:03:27 +0000

Executives of General Motors, Ford and Chrysler are visiting Congress this week to request $34 billion in loans from the U.S. government. This request takes place as France announces its $33 billion economic stimulus plan.

International finance expert Roben Farzad of BusinessWeek evaluates these plans and considers the future of the American automotive industry.

International finance expert Roben Farzad of BusinessWeek considers the future of the American automotive industry. /files/2008/12/th_auto_farzad.jpg /files/2008/12/th_auto_farzad.jpg

Citigroup bailout reverberates abroad

Worldfocus — Mon, 24 Nov 2008 18:29:33 +0000

After a meeting with Treasury Secretary Henry Paulson, President George W. Bush said that the U.S. will bail out Citigroup, one of the largest American banks.

Even as stock markets around the world shot up today, economic projections pointed downward in many countries, sparking skepticism about how long the Citigroup bounce might last.

Citigroup also has a huge international presence, with more than 200 million customer accounts in 106 countries.

Robert Lenzner, national editor of Forbes magazine, speaks with Martin Savidge about the repercussions of Citigroup’s fall, overseas faith in U.S. financial institutions and foreign banks that are also threatened.

Robert Lenzner of Forbes magazine discusses the U.S. bailout of Citigroup and the situation of foreign banks. /files/2008/11/th_br_lenzner.jpg /files/2008/11/th_br_lenzner.jpg

China positions itself to emerge financially sound

Worldfocus — Tue, 14 Oct 2008 21:24:08 +0000

China’s central government believes the worldwide financial crisis will have limited impact, according to a new report. But since China has invested in American assets, China has lost over half of their holdings in the financial storm.

George Ugeux, chairman and chief executive officer of Galileo Global Advisors LLC and former senior managing director of the New York Stock Exchange’s international division, speaks with Martin Savidge about claim of China emerging unscathed from the crisis. Ugeux also examines American and European financial rescue efforts.

George Ugeux comments on reports that China may take a more prominent role in the world economy’s emergence from the financial crisis. /files/2008/10/th_stocks_ugeux.jpg /files/2008/10/th_stocks_ugeux.jpg

Economies salvaged, but likely to shrink

Worldfocus — Mon, 13 Oct 2008 20:20:17 +0000

The recent “bailouts” of banks are historic, with the U.S. buying out $700 billion worth of assets and European governments committing nearly $1 trillion to the purchase of equity stakes in their banks.

Brad Setser, a fellow at the Council on Foreign Relations, speaks with Martin Savidge about the historic government response to the international credit crisis. While these investments and policies will buffer the collapse of financial institutions, they cannot guarantee the market’s robust return.

Setser writes the blog “Follow the Money.”

Brad Setser, a fellow at the Council on Foreign Relations, discusses the historic government response to the international credit crisis. /files/2008/09/th_intv_setser.jpg /files/2008/09/th_intv_setser.jpg

World credit markets remain frozen

Worldfocus — Tue, 30 Sep 2008 22:02:53 +0000

Credit markets remained tight today despite stock gains and renewed hopes that the U.S. Congress will pass a bailout package.

Mohannad Aama, managing director of Beam Capital Management, speaks with Martin Savidge about the upheaval in credit and fixed income markets as well as the spike in LIBOR — London’s overnight bank lending rate.

Mohannad Aama, managing director of Beam Capital Management, discusses the global upheaval in credit and fixed income markets. /files/2008/09/th_intv_aama.jpg /files/2008/09/th_intv_aama.jpg