After hitting a 30-year low in 2009, U.S. auto sales are poised for a second straight year of growth in 2012 — the result of easier credit, low interest rates and pent-up demand for cars and trucks created by the Great Recession.
The sales forecast bodes well for the industry's continued recovery and for the broader American economy.
Just two years ago, Detroit automakers were in peril. Car sales plunged as unemployment soared, and loans became harder to get. Chrysler and General Motors filed for bankruptcy protection. Ford avoided bankruptcy only by borrowing billions.
Those who remember newspapers might recognize this as a "clip and save." Maybe the more modern term would be a "cut and paste." Whatever, if you want some of the details and logistics about Tuesday night's caucuses in Iowa, here they are:
Monday morning in Iowa, I caught up with Mitt Romney's strategist Eric Fehrnstrom after the campaign's first event of the day, a speech at the Mississippi Valley Fairgrounds in Davenport.
In the last hours before Tuesday night's caucus, Fehrnstrom said, the former Massachusetts governor plans to consolidate his support by visiting areas in the eastern part of the state where he had a strong showing in 2008 — places like Dubuque and Cedar Rapids.
The Newt Gingrich campaign bus is rolling again Monday morning, leaving Waterloo, where the candidate spent the night and heading straight east to the small town of Independence. The venue? Heartland Acres Agribition Center, a modest-size exhibition hall for small, regional agribusiness conferences with a lot of interesting old farm implements on display, and a shop with some pretty cool toy tractors.
(The top of this post was rewritten at 3:15 p.m. ET.)
Authorities in Los Angeles just announced they've made two arrests in connection with the more than 50 fires that had been set in the city in recent days, causing several million dollars worth of damage but no serious injuries.
Iran's navy said it test-fired a surface-to-surface cruise missile on Monday during a drill in international waters near the strategic Strait of Hormuz, the official IRNA news agency reported.
The missile, called Ghader, or Capable in Farsi, was described as an upgraded version of a missile that has been in service before. IRNA said the missile "successfully hit its intended target" during the drill.
With just one full day of campaigning left before Tuesday evening's Republican caucuses in Iowa — the first truly important contest of the 2012 presidential election season — the stories and headlines are all about who's up, who's down and who needs to do what to survive and do battle again next week in New Hampshire.
If GOP front-runner Mitt Romney cannot quickly persuade his rivals and voters that he is the inevitable nominee and that further resistance is futile, he may be in for an expensive and time-consuming slog.
Unlike GOP presidential primary seasons of the past, the one that begins in Iowa Tuesday was actually designed to slow down the emergence of a winner by stretching out the calendar and altering the delegate allocation rules.