Survival News Network

By Sen. Jim DeMint
You’d think the Obama administration is busy enough controlling the banks, insurance companies and automakers, but thanks to whistleblowers at the Department of the Interior, we now learn they’re planning to increase their control over energy-rich land in the West.
A secret administration memo has surfaced revealing plans for the federal government to [...]

Via: Jalopnik
The FBI just confirmed to us they raided the offices of Yazaki North America, Denso International and Tokai Rika (TRAM). Though all are Toyota supplies they’ve yet to confirm if this is a part of an ongoing probe into Toyota’s 1.4 million unit recall, and a larger antitrust action confirmed by Toyota to [...]

Even with an economic revival, many U.S. jobs lost during the recession may be gone forever and a weak employment market could linger for years.
That could add up to a “new normal” of higher joblessness and lower standards of living for many Americans, some economists are suggesting.
The words “it’s different this time” are always suspect. [...]

European stocks dropped for a third straight week, the longest stretch of losses since March, as concern mounted that the economy won’t recover soon.
Volkswagen AG slumped 6.3 percent, leading declines in automakers, after U.S. car sales fell in June and Credit Suisse Group AG cut its assessment of the industry. ThyssenKrupp AG, Germany’s largest steelmaker, [...]

U.S. auto parts makers Visteon Corp (VSTN.PK) and Metaldyne Corp filed for bankruptcy on Thursday, becoming the latest casualties of the global auto industry crisis and adding to the pressure on cash-strapped automakers.
Visteon, the former parts unit of Ford Motor Co (F.N), said the No. 2 U.S. automaker had made a commitment to support bankruptcy [...]

 
Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.
Major automakers are scheduled to announce February sales results on Tuesday.
Large dealers, auto executives and analysts have said that the sales trend last month mirrors that of January, [...]

Source: Bloomberg.com
General Motors Corp. and Chrysler LLC may have to be forced into bankruptcy by the U.S. government to assure repayment of $17.4 billion in federal bailout loans, a course of action the automakers claim would destroy them.
U.S. taxpayers currently take a backseat to prior creditors, including Citigroup Inc., JPMorgan Chase & Co. and [...]

Source: Reuters
Nissan Motor Co said it would cut 20,000 jobs and joined a growing list of automakers warning of red ink this year in what would mark its first loss since Chief Executive Carlos Ghosn took the reins a decade ago.
The spreading global recession has put consumers off buying expensive goods and even if they [...]

Source: CNN.com
The collapse of negotiations could possibly doom General Motors to a bankruptcy and closure in the coming weeks, with Chrysler potentially following close behind.
While Ford Motor has more cash on hand to avoid an immediate crisis, its production could be disrupted by problems in the supplier base, as could the production of overseas automakers [...]

Source: Reuters
General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi-billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions.
In response to automakers’ bailout plea, staff for three members of Congress have asked restructuring experts if a pre-arranged bankruptcy — negotiated with [...]

Source: Reuters
General Motors Corp and Chrysler LLC are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multi-billion dollar government bailout, Bloomberg reported, citing a person familiar with internal discussions.
In response to automakers’ bailout plea, staff for three members of Congress have asked restructuring experts if a pre-arranged bankruptcy — negotiated with [...]