Business

3:03pm

Wed January 11, 2012
Business

Cadillac Gears Up To Take On German Automakers

Start Your Engines: With Cadillac's unveiling of the ATS — a compact luxury car — the Detroit automaker put itself in direct competition with BMW's 3 Series and Mercedes-Benz's C-Class.
Geoff Robins AFP/Getty Images

This year's auto show in Detroit could set the stage for a shake-up in the fiercely competitive — and hugely profitable — luxury car scene. That's because there's a new kid on the block, and its name is Cadillac.

The General Motors company says its new small, high-performance ATS will allow it to compete for the first time with Audi, Mercedes-Benz and BMW. But getting a brand-new luxury car like the ATS ready for market can be a grueling process.

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7:51am

Wed January 11, 2012
The Two-Way

Fannie Mae CEO Will Step Down

Originally published on Wed January 11, 2012 7:47 am

Fannie Mae President and CEO Michael Williams testifies before the House Financial Services Committee's Oversight and Investigations Subcommittee in December.
Chip Somodevilla Getty Images

Michael J. Williams said he is stepping down as chief executive of the quasi-governmental mortgage giant Fannie Mae. The company made the announcement late last night, saying Williams will wait to step down until the board of directors names a successor.

"I decided the time is right to turn over the reins to a new leader," Williams said in a statement.

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7:10am

Wed January 11, 2012
The Two-Way

Hostess, Maker Of Twinkies, Files For Chapter 11 Bankruptcy Protection

A Twinkie shows off its creamy filling in this file photo from 2005. A snack-cake sales slump is one reason Hostess Brands is seeking protection from its creditors.
Tim Boyle Getty Images

Twinkies maker Hostess Brands Inc., is again seeking protection from its creditors, filing for Chapter 11 bankruptcy as the company tries to cope with high debt and rising costs of labor and raw materials.

Hostess, which also makes Ho Hos, Sno Balls, and Wonder Bread, is a privately held company based in Irving, Tex. It owes millions to suppliers and labor unions. The company has reportedly found some financing to keep it running during bankruptcy proceedings.

For our Newscast desk, Larry Abramson reports:

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2:00am

Wed January 11, 2012
Business

Twinkie-Maker Files For Bankruptcy Protection

Originally published on Wed January 11, 2012 4:01 am

Transcript

STEVE INSKEEP, HOST:

And today's last word in business is Twinkies in trouble.

(SOUNDBITE OF COMMERCIAL)

UNIDENTIFIED ACTOR #1: Ever wonder how they get that creamy filling into the middle of a Twinkies cake? Well, these kids have some pretty good ideas.

UNIDENTIFIED ACTOR #2: First, they put down the creamy filling, then they bake the cake all around.

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10:01pm

Tue January 10, 2012
Business

New For 2012: 'This Isn't Your Father's Dodge Dart'

Originally published on Wed May 23, 2012 9:08 am

The 2012 Dodge Dart is unveiled at the North American International Auto Show in Detroit on Monday.
Tony Ding AP

Between 1960 and 1976, the Dodge Dart was one of the best-selling cars in America, with its affordable price and rugged styling. More than 3.5 million Darts were sold.

Though the car was never known for being especially stylish or pretty, Chrysler is now reviving the name as the company continues its own revitalization. On Monday, it unveiled the new Dart at the 2012 North American Auto Show in Detroit.

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