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News Summary: Daimler 2Q profits jump

REVVED UP: Automaker Daimler AG laid out the hope of a recovery in the West European car market later this year as it reported a big jump in its second-quarter net profit, to €4.58 billion ($6.04 billion) from €1.56 billion a year ago. Full story

Detroit native talks bankruptcy

   Professor Thomas Sugrue, a Detroit native and the author of “The Origins of Urban Crisis: Race and Inequality in Postwar Detroit” talks with MSNBC’s Richard Lui about the financial crisis in his hometown.

Autos troubles, race at root of Detroit collapse

Blue-collar workers poured into the cavernous auto plants of Detroit for generations, confident that a sturdy back and strong work ethic would bring them a house, a car and economic security. It was a place where the American dream came true. Full story

Why didn’t the auto bailout save Detroit?

The bailout wasn't enough to remedy the city's serious fiscal problems: the city never developed any real alternatives to create jobs aside from the auto industry, prompting residents to flee as opportunities disappeared and eroding the city's revenue base. Full story

Former Michigan governor on Detroit: ‘We’re going to learn a lot from this’

   Jared Bernstein, Thomas Sugrue, and former Michigan Gov. John Engler join to discuss Detroit’s decision to declare bankruptcy.

Detroit files for bankruptcy, stage set for court fight

DETROIT (Reuters) - Detroit filed the largest-ever municipal bankruptcy in U.S. history on Thursday, marking a new low for a city that was the cradle of the U.S. automotive industry and setting the stage for a costly court battle with creditors. Full story

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European car sales down 6.6 percent in 1st half

Detroit edges toward brink of bankruptcy

Ford says June industry auto sales will be best since December '07

European car sales end losing streak, respite may be brief

Michigan ‘punch’: Will viral video hurt the labor movement?

Video

  Michigan House approves ‘Right to Work’ legislation

The showdown over the “Right to Work” legislation in Michigan could cause a ripple effect across the country – with major implications for working class families and the elected officials who represent them. Democratic strategist Debbie Dingell and former RNC Chairman Michael Steele discuss.

  Chrysler CEO on Fiscal Cliff

Fiat Chrysler CEO Sergio Marchionne, discusses the impact going over the fiscal cliff could have on the auto industry and the global economy.

  Obama sees resurgence in the Rust Belt

Obama senior campaign adviser David Axelrod explains how the economic revival that followed the rescue of the auto industry helped President Obama in Tuesday’s election.

  Maddow: Romney campaign has a ‘truthfulness problem’

Maddow: Romney campaign has a ‘truthfulness problem’Vice Chair of the National Republican Senatorial Committee, Carly Fiorina; Washington Post columnist E.J. Dionne; New York Times columnist David Brooks; MSNBC’s Rachel Maddow; and NBC’s Chuck Todd discuss the comments being made by both candidates

  Kasich: Job creators deserve credit for growth

Ohio Gov. John Kasich tells David Gregory that the job creators deserve the credit for helping raise Ohio’s economic growth.

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Related Photos

Ford logos are seen at the assembly line of the Ford car factory of Saarlouis
Ford logos are seen at the assembly line of the Ford car factory of Saarlouis

Ford logos are seen at the assembly line of the Ford car factory of Saarlouis, December 6, 2010. REUTERS/Vincent Kessler

Auto industry
Auto industry

Repairman Jerry Garcia works on an engine on the assembly line at the Ford Cleveland Engine Plant 1 , in Brook Park, Ohio. The American auto industry has made a remarkable turnaround.

People walk past projector screen before news conference to announce Mahindra and Mahindra Ltd. fourth quarter results in Mumbai
People walk past projector screen before news conference to announce Mahindra and Mahindra Ltd. fourth quarter results in Mumbai

People walk past a projector screen before a news conference to announce the Mahindra and Mahindra Ltd. fourth quarter results in Mumbai May 30, 2013. Mahindra and Mahindra Ltd , India's biggest utility vehicle manufacturer, said on Thursday consolidated operating margin for the fiscal fourth quarte

A customer checks out Mahindra XUV500 on interactive screen inside company's showroom in Mumbai
A customer checks out Mahindra XUV500 on interactive screen inside company's showroom in Mumbai

A customer checks out the Mahindra XUV500 on an interactive screen inside the company's showroom in Mumbai May 30, 2013. Mahindra and Mahindra Ltd , India's biggest utility vehicle manufacturer, said on Thursday consolidated operating margin for the fiscal fourth quarter rose to 14.4 percent from 12