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Reuters stays ahead in the U.S. autos crisis

Reuters remained ahead on many aspects of the coverage of the crisis facing the U.S. automakers. Among our recent wins: Reuters was three minutes ahead of the nearest competitor in reporting that GM was asking for $4 billion immediately to survive, alone for more than 40 minutes with details of the restructuring plan Chrysler was submitting to Congress as the basis for the struggling automakers pitch for emergency funding from the government , and five minutes ahead of the nearest competitor when Ford Motor Co offered its first financial forecast in more than six months and detailed its plan to return to profits. Reuters scooped with a copy of U.S. Democrats` draft legislation to bail out the Detroit automakers. The key details we headlined included the interest rate and terms of the loans, creation of a `car czar` to approve any spending or contract over $25 million, a ban on golden parachutes for executives and on private jets. Neither Dow Jones nor Bloomberg appeared to have the news. Reuters also won some of the timings when the bailout unraveled on Dec. 11 in the Senate, sending global stock markets lower.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas
Countries: US
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