After Big GDP Drop, Some Say Recession End Near
from AFP via Yahoo! News
The U.S. economy suffered another horrific quarter with a massive 6.1 percent output decline, but some analysts said the data offered hope that the worst is over for the economy. The Commerce Department's estimate of gross domestic product (GDP) in the first quarter was worse than the 4.7 percent annualized decline expected by private economists and only marginally better than the 6.3 percent fourth-quarter slide. More

GM Bailout May Mean Government Becomes Biggest Holder
from Bloomberg
General Motors Corp., operating with $15.4 billion in U.S. aid, would be at least half owned by the U.S. government under the automaker’s plan to slash its debt and cut dealer ranks more than 40 percent. More

Fed Holds Interest Rate at Record Low Rate
from Transport Topics
The Federal Reserve voted Wednesday to keep a key U.S. interest rate at a record low “target range” of zero to 0.25 percent. The lowering of the key federal funds interest rate, which banks charge each other, followed the Fed’s lowering the rate in December to the historic record low rate and holding it there at its previous meetings in January and March. More

Navistar First Truck and Bus Maker to Receive Hybrid Certification from California Air Resources Board
from Business Wire
Navistar continues to blaze new trails through the hybrid landscape, becoming the first truck and bus manufacturer to receive total hybrid vehicle certification from the California Air Resources Board for improving fuel economy and overall emissions. More

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The Renault-Nissan Alliance Forms Zero-Emission Vehicle Partnership With City of Seattle
from the Earth Times
The Renault-Nissan Alliance announced that Nissan and the City of Seattle are forming a partnership to advance zero-emission mobility by promoting the development of an electric vehicle (EV) charging network. Nissan will introduce zero-emission vehicles in the United States in 2010 and will mass market them globally two years later. More

Consumer Confidence Jumps in April
from Transport Topics
Consumer confidence jumped in April to the highest level since November, the Conference Board said Tuesday. The New York-based group’s monthly index rose to a reading of 39.2 this month, from a revised 26.9 in March. The climb was the biggest since November 2005. More

GM Plans to Eliminate as Many as 1,200 Auto Outlets
from Bloomberg
General Motors Corp., facing a June 1 restructuring deadline to avoid bankruptcy, will begin notifying outlets the automaker plans to eliminate by May 11, the company told dealers today in a video conference call. More

American Axle to Cut Detroit Jobs
from the Detroit Free Press
The union representing workers at American Axle & Manufacturing Inc.’s plant complex in Hamtramck and Detroit said it expects the company to shut its largest factory in the complex, a move that would result in hundreds of permanent layoffs. More

Jobless Claims Fall Unexpectedly
from CNN Money
The number of initial claims for unemployment insurance fell last week, with the number of people collecting benefits overall hitting a fresh record high of 6.27 million, according to a government report released Thursday. More