'This is the day after Lehmans...'
Updated on 12 December 2008
The car industry, a climate summit and Manchester's congestion scheme weave a story web in the morning meeting.
Two developing stories lead the news list today - one US-based but with global ramifications, and one much closer to home.
Overnight, the US Senate voted against a bail-out plan for country's struggling car industry.
As well as an employer of between two and five million people (depending how many of the "knock-on" jobs you include), motoring is also an iconic jewel in the country's crown.
It's important to get across the how important General Motors is to the US."
"This is the Lehman Brothers of manufacturing."
Senate rejects bailout
Watch last night's vote.
"This is chapter two of a 20-chapter book. This is the day after Lehmans. It's starting to tell us how big this thing is going to be."
"But what is $14bn [bailout plan] to them? Nothing - it'll just keep them struggling away for a bit longer."
Elsewhere international delegates are gathered at a UN summit in Poznan - something else we'll be covering with an interview with the guru of climate change economics, Nicholas Stern.
What are the environmental ramifications for the car companies?
"These are companies that failed to adapt to climate change..."
"But it's hard to establish how much effect that's actually had on the problems they're suffering now".
"Customers aren't buying cars, but banks are not providing finance to customers who want to buy cars, or finance to companies."
"People can make a car last for two, three years more... you just don't buy a new one."
The other developing story is the tale of a paedophile who was stabbed to death by an unknown number of people in south London.
It sounds like the harshest example of mob justice in this country to date - although vigilante mob action is not unknown, there are blank faces in the newsroom when we try to think of another instance in which it went as far as a killing.
Details are still emerging - we are following closely. The man is thought to have just been taken off the sex offenders' register.
Results of a vote on whether to introduce a congestion charge in Manchester are due today.
It's the first big-scale charging project outside London.
If voters reject the plan, there are big implications for the government's transport strategy - similar schemes are also on the cards for Bristol and Leeds.
"It's a big gamble - asking people to vote on whether they want another tax."
