Crash Survival Zone

Most Americans who adjusted their driving habits in a big way when gasoline prices surged are sticking with their economizing ways, according to a Gallup poll released Tuesday.

Even though prices at the pump are now about 45% lower than they were a year ago and significantly below $2 a gallon, 52% of Americans told Gallup [...]

Just in case anybody’s keeping track, the government has now appropriated $9 billion in bailout funds to some of the richest folks in America. This would be Cerberus Capital Management, the private equity fund that owns majority stakes in GMAC and Chrysler and whose chairman is John Snow  - the last Treasury Secretary before the [...]

Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers.

Allowing the massive auto industry to collapse in the middle of what is already a severe recession “would worsen [...]

World stock markets plunged Friday as the U.S. Senate’s rejection of a $14 billion deal to rescue Detroit’s automakers and further grim economic data stoked concerns that the recession in the world’s largest economy will be longer and deeper than expected.
The FTSE 100 of leading British shares was down 169.74 points, or 3.9 percent, at [...]

By Thomas L. Friedman, New York Times Columnist
As I think about our bailing out Detroit, I can’t help but reflect on what, in my view, is the most important rule of business in today’s integrated and digitized global market, where knowledge and innovation tools are so widely distributed. It’s this: Whatever can be done, will [...]