Car Sales Stall in August Amid Clunkers Afterglow Fades
U S auto sales weakened in August as GM fell 7 percent from July and 25 percent from August 2009, Ford down 5 percent, and Subaru down 7.2 percent. Industry totals may dip below 1 million, the weakest August in 27 years, as buyers avoid showrooms amid economic nerves. GM’s brands slumped but Buick and Cadillac rose on the back of the clunkers era. Subaru struggled with small cars.
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Detroit
General Motors Co
Ford
Subaru
Jeff Schuster
J.D. Power and Associates
Dearborn
Ken Czubay
U.S
Chrysler
Nissan
Honda
Toyota
Autodata Corp
Chevrolet
Buick
GMC
Cadillac
Chevy
Clunkers
Impreza
Jobless numbers rise in some cities
In July the unemployment rate rose in 176 of the nation’s 372 largest metro areas, fell in 152, and was unchanged in 44, signaling slower hiring across the United States. California and Michigan cities led with high rates, while North Dakota sites posted the lowest. Private payrolls slowed, with ADP showing 10,000 jobs cut in August amid a fragile growth outlook.
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Regulators defend actions before Lehman collapse inquiry
Federal bank regulators told the Financial Crisis Inquiry Commission that government decisions in 2008 to let Lehman fail and to back Wells Fargo’s bid for Wachovia made sense under the circumstances. They said they tried to save Lehman but lacked tools and authority to avert the crisis.
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Washington
Lehman Brothers
Wachovia
Financial Crisis Inquiry Commission
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Wells Fargo & Co
Richard S. Fuld Jr
Fuld
Thomas Baxter
New York Federal Reserve
Fed
Phil Angelides
American International Group Inc
Scott Alvarez
Citigroup Inc
FDIC
Citigroup
Wells Fargo
Steel
Internal Revenue Service
Bill Thomas
Republican House
California
Ways and
U.S
States
District of Columbia
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Federal Reserve Bank of New York
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