Ford, one of the great names of the auto industry, has played a major role in shaping both the horizons of everyday life and the conditions of toil on the job. Founder Henry Ford transformed automobiles from an amusement for the wealthy to a conveyance for the common person, while in his workplaces he introduced mass production on an unprecedented scale. Ford fell behind General Motors in the 1920s and experienced decades of management instability.
After suffering a downturn in fortune that nearly caused it to be absorbed by General Motors, Fiat is riding high again. The company has taken control of struggling U.S. automaker Chrysler, and is seeking additional partners as part of a quest to become a “supergroup” that stands a chance of surviving the brutal competition in the auto industry—a quest that includes taking a hard line with unions at home and abroad.
Delphi primarily makes various automobile parts. The company's technology is also sold for computing, communications, consumer electronics, energy and medical applications. The company filed for Chapter 11 bankruptcy in 2005 and soon thereafter began operating as "debtors-in-possession" under court supervision, with the expectation of emerging from bankruptcy sometime in 2008. The company is a former division of General Motors (GM), separated in 1999.
GMAC offers financing to General Motors dealerships and customers, as well as other dealerships. GMAC has also been one of the largest mortgage issuers and servicers in the United States, through its Residential Capital subsidiary, and GMAC insurance sells car and home insurance. GMAC's finance arm also offers financing to middle market businesses.
On November 21 GMAC applied for bank holding status in order to become eligible for federal financial bailout status.
Nissan, previously known as Datsun, rose to the top tier of global car companies three decades ago, but has been struggling ever since. The company avoided disaster by forming an alliance with Renault in 1999, and has been sharing a chief executive with the French company since 2005. Nissan has beaten back a series of union organizing efforts at its U.S. operations, but subsequently, to address slumping sales, offered buyouts to some of those workers.
