Cult Status? Secretive Culture Led Toyota Astray

Toyota Motor's President Akio Toyoda, second from left, and Vice President Shinichi Sasaki, left, bow following a news conference Tuesday.

Details from the crisis enveloping Toyota reveal a growing rift between the auto maker and U.S. regulators, as a secretive corporate culture clashed with disclosure requirements.

Jack Welch Attacks Obama

Jack Welch, former chief executive officer of General Electric Co., criticized the government- backed bankruptcy of Chrysler LLC for favoring unions at the expense of creditors and said President Barack Obama’s economic stimulus programs will cause budget deficits..

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GMAC Said to Get $7 Billion to Fund Chrysler, GM Customers

GMAC LLC, the auto and home lender that was bailed out in December, will receive more than $7 billion in government funds to provide financing for customers of Chrysler LLC and General Motors Corp., according to two people familiar with the matter..

www.bloomberg.com

Chrysler Files For Chapter 11

Chrysler filed for Chapter 11 bankruptcy protection and will enter into a partnership with Italy's Fiat. Obama said the deal would allow Chrysler to "thrive."