The General Motors world headquarters building dominates the Detroit skyline.
Credit Bill Pugliano / Getty Images
Saying it was a "sad day," Michigan Gov. Rick Snyder declared a financial emergency in the city of Detroit. He said that while it would not be appropriate to appoint an emergency manager, now, he would think about doing so after March 12. That's the day set aside for a hearing, if the city appeals his decision.
"I do have a top candidate," Snyder said during a press conference.
With the global auto industry gathered in Detroit this week for the city's renowned auto show, Renee Montagne talks to Chrysler CEO Sergio Marchionne about his company's stunning turnaround, manufacturing overseas and a Chrysler IPO.
Good morning. I'm Steve Inskeep. Walk a street in Beijing and you'll likely hear a whirring noise as an electric bicycle glides past. They're common in China. One auto maker wants to make them more common here. The makers of tiny Smart cars put an electric bike on display at the Detroit Auto Show. People at that show can also find bikes with pedals, like the Toyota Prius-branded bike.
The newly redesigned Corvette Stingray is unveiled by General Motors on Sunday. The Corvette's status as a cultural icon presents challenges for GM as it attempts to the bring the beloved brand into the 21st century.
This week, the sleek, speedy Chevy Corvette turns 60 years old. In the increasingly competitive auto business, where few cars make it past their teens, that makes it nearly ancient.
General Motors, however, is not retiring one of America's oldest sports cars just yet, and is embarking on the perilous path of updating the beloved brand. The auto company unveiled the new 2014 Corvette at the Detroit Auto Show on Sunday, a model that also revives the long-dormant Stingray name.