Auto Industry Bailout, Auto Industry | featured news

President Obama ripped Republican presidential nominee Mitt Romney on Friday for running a misleading TV ad implying that U.S. auto workers are going to lose their jobs because Chrysler is moving the production of Jeeps for Chinese consumers to China.

Under the bright lights of a high school football field in Defiance, Ohio, Mitt Romney's opposition to the 2009 auto bailout reared its head again as a campaign issue that could help decide the result of this critical swing state.

Clear Eyes, Full Hearts, Can't Use My Phrase! This is basically what Peter Berg told Romney in a letter, asking the politician to stop using the phrase "Clear Eyes, Full Hearts, Can't Lose."

In seeking support in Michigan, Obama speaks frequently about how the federal bailout of General Motors Co. and Chrysler Group led to GM's resurgence as the world's No. 1 automaker and 32,000 more auto-related jobs in the state since the companies emerged from their 2009 managed bankruptcies. Romney opposed the move, even writing a New York Times opinion piece in 2008 that carried the headline "Let Detroit Go Bankrupt."

President Barack Obama told more than 1600 current and hourly autoworkers on Tuesday that if Republicans had been in charge they would have left the auto industry "out to dry."

Auto sales are growing so fast that Detroit can barely keep up. Three years after the U.S. auto industry nearly collapsed, sales of cars and trucks are surging.

The super PAC behind President Obama is on the air in Michigan today with an ad slamming Mitt Romney and his opposition to the auto industry ...

Whether voters see a principled stand or ruthless capitalism in Mitt Romney’s 2008 opposition to the auto industry rescue will affect how he fares in Michigan’s primary and likely beyond.

General Motors earned its largest profit ever in 2011, two years after it nearly collapsed. Strong sales in the U.S. and China helped the carmaker turn a profit of $7.6 billion, beating its old record of $6.7 billion in 1997 during the pickup and SUV boom.

After three years of settling for second place, General Motors reclaimed its title as the world’s largest automaker in 2011, a year when its sales grew in every region of the globe while Toyota sales were hampered by major natural disasters.