The automaker?s rapidly deteriorating finances are forcing the government to decide whether to bail it out or face the prospect that it might go bankrupt.
In his first news conference as president-elect, Barack Obama gave crisp answers to questions and said an economic recovery would not be quick or easy.
AP - Inheriting an economy in peril, President-elect Obama warned on Friday that the nation faces the challenge of a lifetime and pledged he would act urgently to help Americans devastated by lost jobs, disappearing savings and homes seized in foreclosure. But the man who promised change cautioned against hopes of quick solutions.
AP - Thousands of protesters angered by the passage of a state measure banning gay marriage took to the streets Friday in San Francisco and Long Beach, while thousands more protested outside the headquarters of the Mormon church in Salt Lake City.
AP - Regulators shut down Houston-based Franklin Bank and Security Pacific Bank in Los Angeles on Friday, bringing the number of failures of federally insured banks this year to 19.
Protests continued Friday in several California cities, including San Francisco, Palm Springs and Long Beach, over the passage of Proposition 8, which outlaws same-sex marriage.
President-elect Barack Obama said today the U.S. is facing "the greatest economic challenge of our lifetime" and called for Congress to pass a new stimulus package. Obama held his first briefing as president-elect, taking questions from reporters after meeting with a 17-member council of economic advisers.