Chrysler reaches deals with UAW, CAW labor unions, now needs debtholder agreement to survive

DETROIT — It looks like scrappy little Chrysler LLC might yet escape the auctioneer’s gavel.

GM schedules news conference to announce brand changes, restructuring moves

DETROIT — General Motors will announce a restructuring plan at 9 a.m. EDT today. The storied Pontiac brand is dead and more car factories and jobs are about to disappear — the latest casualties of a plan that GM is counting on to help it stave off bankruptcy protection. The plan is being announced as GM makes an offer to its bondholders to swap debt for company stock. GM owes $28 billion to large and small bondholders, and under Securities and Exchange Commission rules, it must disclose its operational plans when it makes an exchange offer.

Jets trade with Detroit, take Iowa RB Shonn Greene to start second day of draft

NEW YORK — If there’s an NFL executive Jets general manager Mike Tannenbaum hasn’t approached with an offer to trade up in the draft, he should be ready for a call next year.

General Motors’ employee stock fund sells off all company shares as bankruptcy threatens

WASHINGTON — The manager of General Motors’ employee stock fund has sold off all remaining shares of the troubled auto maker, which is closing plants and slashing costs in a bid to avoid bankruptcy.

Canada auto workers say they’ve reached tentative pact with Chrysler

TORONTO — The Canadian Auto Workers say they reached a tentative agreement on a new labor deal with Chrysler.

Wings’ Babcock on advancing: ‘We’re not going to have a parade, but we feel good about it.’

DETROIT — The Detroit Red Wings became the first defending Stanley Cup champion to advance in the playoffs in seven years.

Ford may be able to avoid federal bailout; GM and Chrysler race to meet government deadlines

DEARBORN, Mich. — Better-than-expected earnings from Ford raised hopes Friday that the automaker’s restructuring and new products may be enough to spare it from a federal bailout, while General Motors received more government help and Chrysler raced to avoid bankruptcy.

GM getting another $2B in federal loans; Chrysler works to stay out of bankruptcy courts

WASHINGTON — General Motors is getting another $2 billion in federal loans, while Chrysler is trying to work out a deal to keep it out of bankruptcy courts.

AP source: Chrysler’s lenders make new offer to Treasury as negotiations over debt continue

NEW YORK — A person familiar with the matter says Chrysler’s lenders have delivered another counteroffer to the Treasury Department as the two sides continue to haggle over Chrysler’s debt.

Stocks pull off highs as investors parse details of bank ’stress tests’

NEW YORK — Stocks are pulling off their highs as investors examine an outline of a government test for evaluating the fitness of the nation’s largest banks.

AP sources: Chrysler, Treasury still working to keep automaker out of bankruptcy court

DETROIT — With a government-imposed deadline for massive restructuring less than a week away, Chrysler LLC and Treasury Department officials are still holding out hope that they can reach deals to keep the troubled automaker out of bankruptcy court, two people briefed on the talks said Friday.

Ford Motors reports $1.4 bn loss

WASHINGTON - Ford Motor Company, trying to avoid the fate of Chrysler and GM, Friday posted a $1.4-billion first quarter loss that was, however, better than analysts had expected.

US Treasury says General Motors has been given an additional $2 billion in federal loans

WASHINGTON — Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court.

Members of Congress say Chrysler bankruptcy, if it happens, should prevent liquidation

NEW YORK — With Chrysler LLC appearing increasingly likely to seek bankruptcy protection, members of Congress are calling for an orderly process that saves the company from liquidation.

Ford posts $1.4 billion 1Q loss, uses less of its cash while restructuring without gov’t aid

DEARBORN, Mich. — Ford Motor Co. reported a first-quarter loss of $1.4 billion Friday and said it depleted less of its cash, emphasizing that it doesn’t expect to seek any of the government assistance that is keeping the rest of the Detroit Three alive.

Ford posts $1.4 billion 1Q loss, burns through less cash while restructuring without gov’t aid

DEARBORN, Mich. — Ford Motor Co. reported a first-quarter loss of $1.4 billion Friday and said it burned through less of its cash, emphasizing that it doesn’t expect to seek any of the government assistance that is keeping the rest of the Detroit Three alive.

Governor in Germany confirms Fiat, Magna interested in Opel stake

FRANKFURT — Italian car company Fiat SpA and Canadian car parts maker Magna International Inc. are both interested in a stake of German carmaker Opel, a unit of General Motors Corp., a German official said Thursday.

After winning big gamble on Ryan last year, Atlanta doubles down with Gonzalez trade

The NFL draft hasn’t even begun, but we already know who won.

General Motors’ lengthy shutdown of plants this summer threatens to have far-reaching impact

DETROIT — General Motors ‘ decision to shut down 13 assembly plants for up to 11 weeks this summer will disrupt far more than the lives of nearly 24,000 workers, rippling out to damage part suppliers, local businesses and state economies.

Meltdown 101: Why would it make sense for GM to temporarily close some plants this summer?

A General Motors plan to temporarily close several U.S. factories this summer makes lots of financial sense for the beleaguered automaker, but not for the obvious reason.

GM’s woes keep eroding brand loyalty, meaning automaker must do still more to woo customers

MILWAUKEE — There seemed little chance U.S. car makers could look any worse, but moves like General Motors’ announcement Thursday that it will cut production this summer risk scaring off remaining potential customers and eroding decades of brand loyalty.

NFL DRAFT: ‘All those massive critics shut up’ _ ESPN, hyper Kiper reach silver anniversary

BALTIMORE — For a guy who makes a living critiquing others — created a cottage industry out of it, even — Mel Kiper Jr. sounds a little thin-skinned when it comes to how others perceived him way back when.

Autos task force said to consider expanding SBA loan requirements for car dealerships

DETROIT — A national auto dealers group said Thursday that President Obama’s auto task force is considering extending loans usually reserved for small businesses to dealers, making it easier for them to borrow money to acquire showroom vehicles.

General Motors says it will temporarily shut 13 assembly plants, cut production by 190,000

DETROIT — General Motors Corp. said Thursday it will temporarily close 13 assembly plants in the U.S. and Mexico — some for more than two months — laying off nearly 24,000 workers to pare back a bloated inventory.

Ontario official: Progress made in Chrysler-CAW talks; announcement possible Thursday

TORONTO — Talks between the Canadian Auto Workers and Chrysler Canada are showing progress and an announcement could come Thursday, said the union’s president.

General Motors starts telling workers about plans to temporarily close most US factories

DETROIT — General Motors Corp. is starting to tell its workers about plans to temporarily close most of its factories for more than two months to control inventories due to sagging sales.

Ford VP expects UAW would give Ford same deal as GM, Chrysler if concessions deepen

EAST LANSING, Mich. — A Ford Motor Co. executive says the automaker expects to get the same deal as General Motors Corp. and Chrysler LLC if unions give more concessions to its rivals.

Fiat CEO affirms commitment to Chrysler deal, repeats won’t put in cash

MILAN — Fiat Group CEO Sergio Marchionne says the Italian automaker has an “unwavering commitment” to its proposed alliance with Chrysler but reiterates Fiat won’t put in cash.

Governor of Hesse confirms Fiat, Magna interested in Opel stake

FRANKFURT — Italian car company Fiat SpA and Canadian car parts maker Magna International Inc. are both interested in a stake of German carmaker Opel, a unit of General Motors Corp., a German official said Thursday.

Fiat posts $531M 1Q loss; Report: Fiat in talks to take majority stake in GM’s Adam Opel

MILAN, Italy — Fiat Group SPA, which is in the final stretch of talks to take a possible minority stake in the U.S. automaker Chrysler, on Thursday reported its first quarterly loss since the turnaround engineered by CEO Sergio Marchionne, as sales of autos plummeted due to the global economic crisis.