Ford told Congress that it wanted access to $9 billion in loans but that it could become profitable in three years if Detroit?s other two automakers survived.
AP - Ford Motor Co. will tell Congress that it plans to return to a pretax profit or break even in 2011 when its CEO appears before two legislative committees this week.
AP - A stock market reassured by Ford Motor Co.'s assessment of its financial health bounced back Tuesday, regaining some of the ground lost in the previous session's huge drop. The Dow Jones industrials rose 180 points, regaining more than a quarter of Monday's nearly 680-point plunge.
AP - Walloped by the recession, automakers' U.S. sales are plummeting as hard-to-get credit, job losses and other stresses make many Americans wary of taking on big-ticket financial commitments.
President-elect Barack Obama today reached out to Republican governors, promising his administration won't be hampered by ideology. "I offer you the same hand of friendship, the same commitment to partnership as I do my Democratic colleagues," Obama told a meeting of the nation's governors in Philadelphia. He said quick action is needed to get the economy back on track.
Terrorists are likely to use a weapon of mass destruction somewhere in the world in the next five years, a blue-ribbon panel assembled by Congress has concluded.
The U.S. warned India's government about a potential maritime attack on Mumbai at least a month before last week's massacre left 179 dead, a U.S. counterterrorism official says. Since the attacks, India made clear it believes they originated in Pakistan, but the government is under pressure to explain the lapse of security that allowed the siege to occur.
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