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BofA's Ken Lewis: Big Three should be Big Two (from Corporate Dealmaker)

In a lunch meeting at the Detroit Economic Club on Tuesday, Bank of America Corp. CEO Ken Lewis (pictured) said he would only favor a bailout for cash-leaking Big Three automakers General Motors Corp., Chrysler LLC and Ford Motor Co. if it were to yield major consolidation in the industry....

Posted on November 19, 2008 9:27 AM

Ford cuts Mazda stake at a cut-rate price (from Corporate Dealmaker)

Big 3 automakers Ford Motor Co., Chrysler LLC and General Motors Corp. are running out of cash amid plunging auto sales and economic turmoil... and the government doesn't seem likely to give them the $25 billion piece of the Wall Street bailout pie they're asking for. In the meantime, Ford said it is cutting its 33.4% stake in Japan's Mazda Motor Co. by about 20%. The deal should net Ford about 52 billion yen ($540 million)...

Posted on November 18, 2008 8:47 AM