Obama says U.S. won't let auto industry 'vanish'

Date: Mon, 30 Mar 2009 12:01:38 -0400

Obama says U.S. won't let auto industry 'vanish'

President Obama says his administration won't let the struggling U.S.
auto industry 'simply vanish,' as shares of General Motors fall about
25% after the White House says bankruptcy may be an option for both GM
and Chrysler.

G20 STEERS AWAY FROM NEW STIMULUS PLEDGE

Hopes for a coordinated agreement on a new stimulus plan to help
revive the. global economy at this week's G20 summit appear diminished
ahead of the formal start of the meeting, according to reports.

FIAT NOW IN DRIVER'S SEAT IN CHRYSLER ACQUISITION

DETROIT
The future of Chrysler LLC seems irretrievably tied to
an Italian company boasting its own turnaround success after flirting
with disaster earlier in the decade. Fiat has been reborn with a knack
for producing cool, small cars; its desire to return to the U.S.
market after a 20-year break marks the best, perhaps only, hope for
Chrysler. The planned Fiat-Chrysler. alliance outlined in January may
have been given a "fail" by the U.S. auto task force, but the
companies at least can resit the exam in 30 days.

CORPORATE INVESTMENT-GRADE BOND VOLUME SURGES

Corporate investment-grade bond volume reached a record $824.4 billion
in the first quarter of 2009, more than double the volume of the same
quarter a year ago, according to an industry report released Monday.