On Friday, Justice asked us all two salient questions. The first was: “Haven’t Washington and Wall Street learned anything from this debacle?”
Sadly, I am convinced that the answer is no, for two reasons. ...
Monday, October 05, 2009
2.
The End of Saturn
(Matching tags: Nick Bonnet,Auto Industry,General Motors,Foreign Automakers)
Saturn's days are numbered after recent talks with Penske Automotive Group (PAG:NYSE) fell through. Penske was unable to find an auto manufacturer to produce the cars after GM stops making them in 2011. ...
Friday, October 02, 2009
Since the implosion of the “Big Three” here in the Unites States, the global auto industry has been carjacked and forced into the chop shop.
General Motors cut off brands like frostbitten limbs: Pontiac, ...
Tuesday, September 29, 2009
This American company has gained 777% the old-fashioned way: selling junk in backroom deals.
As regular readers know, I am a Ford man. Back when I was a kid, you had to make three really important choices. ...
Monday, September 28, 2009
Lots of fools have been sitting on the sideline badmouthing this market, saying it’s not real and it will simply have to crash. Well, it may be true that this market isn’t “real” but the gains spend ...
Wednesday, September 23, 2009
The U.S. automaker announces the production of a new four-door car, named “Figo”, which will go on sale next year for an estimated $6,000 to $8,000.
From Erika Kinetz, Associated Press:
NEW DELHI — ...
Wednesday, September 23, 2009
Running out of money and plagued with red tape, Cash for Clunkers program will end on Monday, August 24.
From Brian Wingfield, Forbes:
WASHINGTON -- The Obama administration will end its popular ...
Friday, August 21, 2009
While General Motor’s August sales in the U.S. dropped 20%, the automaker has enjoyed an increase in Chinese demand with a 113% leap in sales from a year ago.
From VOA News:
U.S. auto giant General ...
Wednesday, September 02, 2009
Toyota Motor Corp., Japan's biggest automaker, plans to suspend production as car sales fall.
From Nobuhiro Kubo, International Business Times:
TOKYO - Toyota Motor Corp <7203.T>, the world's ...
Wednesday, August 26, 2009
... left a vacuum... And foreign automakers are sure to gain surprising market share on the back side of this recession.
Now, you might be thinking that GM and ...
Wednesday, August 19, 2009
With sales up as a result of "cash for clunkers," General Motors is adding more work shifts and overtime.
From Katie Merx, Bloomberg:
(Bloomberg) -- General Motors Co., benefiting from
...
Tuesday, August 18, 2009
Taking advantage of greater demand spurred by government incentive, Ford will increase its production by 10,000 cars.
From Detroit Free Press:
Ford Motor Co. today announced it is increasing production ...
Thursday, August 13, 2009
General Motors (GM) announced that its soon-to-come Chevrolet Volt electric car should get up to 230 miles per gallon -- in the city driving.
From William Spain, MarketWatch:
SAN FRANCISCO (MarketWatch) ...
Tuesday, August 11, 2009
Finding potential in a different market, General Motors will be selling vehicles on eBay, beginning August 11th.
From Nick Bunkley, The New York Times:
DETROIT — General Motors will begin selling cars ...
Monday, August 10, 2009
General Motors says that, sometime in 2011, it should launch a plug-in SUV hybrid from its Buick line.
From Brent Snavely and Tim Higgins, Detroit Free Press:
TRAVERSE CITY — General Motors Co. this ...
Thursday, August 06, 2009
The Cash For Clunkers program has been wildly successful, burning through the initial $1 billion allocated to the program within a couple weeks. Harry Reid has said that the Senate will OK another $2 ...
Thursday, August 06, 2009
Even after more than 6,000 workers taking its buyout and leaving the company, General Motors may need to cut more jobs.
From Soyoung Kim, Reuters:
DETROIT (Reuters) - More than 6,000 U.S. hourly workers ...
Monday, August 03, 2009
Not long out of bankruptcy, GM sales in China hit 144,593 for July, GM's best July China sales ever.
From Patricia Jiayi Ho, CNN Money:
BEIJING -(Dow Jones)- General Motors Corp. (GM) said Monday its ...
Monday, August 03, 2009
With "Cash for Clunker" money running out way ahead of schedule, the House voted an extra $2 billion to keep the program going.
From Justin Hyde, Detroit Free Press:
WASHINGTON -- The U.S. House approved ...
Friday, July 31, 2009
Lawmakers consider additional funding as the "Cash for Clunkers" incentive, which was supposed to continue into the fall, may have already run out of money.
From John Crawley, Reuters:
WASHINGTON (Reuters) ...
Friday, July 31, 2009
Last week, initial jobless claims went up 25,000, but economists say the trend is still lower.
From Courtney Schlisserman, Bloomberg:
July 30 (Bloomberg) -- The number of Americans filing claims for ...
Thursday, July 30, 2009
A White House advisor says the government will have a "hands off" approach to its ownership in General Motors and Chrysler.
From Kevin Krolicki, Reuters:
DETROIT, July 27 (Reuters) - The U.S. Treasury ...
Monday, July 27, 2009
'Cash for Clunkers' incentive started Friday and will continue until the $1 billion is used up.
From LA Times:
(WGN-AM)- After two decades and 126,000 miles, John and Susan Musinski's 1990 Ford Econoline ...
Friday, July 24, 2009
With home sales increasing and Ford performing better than expected, the Dow went over the 9,000 mark.
From Gerry Shih, The New York Times:
Markets on Wall Street and in Europe jumped higher on Thursday, ...
Thursday, July 23, 2009
... in the fine details of finance.
Revealed: Million-Dollar Secrets Of A Currency Master!
Is it really possible for an ordinary investor to become a multimillionaire in the foreign currency (Forex) ...
Thursday, July 23, 2009
Out of bankruptcy, Chrysler says it will match the government's $4500 incentive, even for vehicles that don't qualify for the government incentive.
From Associated Press :
AUBURN HILLS, Mich. — Chrysler ...
Wednesday, July 22, 2009
GM now has 219 new CEOs to tell it how to run its business. Good luck making decisions now, boys.
This is how they roll in Washington and Detroit.
Over the past few months we’ve read endless arguments ...
Monday, July 20, 2009
Retail sales for June were raised by an increase in auto and gas sales.
From Emily Kaiser, Reuters:
WASHINGTON (Reuters) - A jump in auto and gasoline sales boosted U.S. retailers in June, while a ...
Tuesday, July 14, 2009
29.
U.S. Exports Rise
(Matching tags: Currency Investments,Economic Growth,Foreign Automakers,Export Industry)
U.S. exports rose so much in May that the trade deficit dropped to its lowest level since 1999.
From Bob Willis, Bloomberg:
July 10 (Bloomberg) -- The U.S. trade deficit unexpectedly narrowed in ...
Friday, July 10, 2009
After only 40 days in bankruptcy, General Motors returns, now owned 61% by the government.
From BBC News:
General Motors (GM) says it has emerged from bankruptcy protection after creating a "new GM" ...
Friday, July 10, 2009
After completing the sale of its top assets, General Motors will pass on $48.4 billion of debt to the new GM.
From Linda Sandler and Christopher Scinta, Bloomberg:
July 9 (Bloomberg) -- General Motors ...
Thursday, July 09, 2009
After it emerges from bankruptcy, GM says it wants to get some operations in India.
From The Hindu:
New Delhi (PTI): Beleaguered General Motors on Tuesday said it will acquire its strongest operations, ...
Tuesday, July 07, 2009
Thanks, in part, to tax breaks and a new model, the Prius has become the top-selling vehicle in Japan.
From BBC News:
It sold 22,292 Prius vehicles in June, from 6,231 in the same month a year earlier ...
Tuesday, July 07, 2009
Late Sunday night, a U.S. district judge approved selling GM's assets to a new company backed by the government.
From Tomoeh Murakami Tse, The Washington Post:
General Motors won permission late Sunday ...
Monday, July 06, 2009
General Motors has until July 10 to sell top assets to a new company backed by the government, or it will lose its bankruptcy funds.
From Timothy Williams, The New York Times:
General Motors must win ...
Thursday, July 02, 2009
General Motors and Toyota couldn't work out a plan for continuing a joint venture plant in California, which brings an end to the Pontiac Vibe.
From Jeff Green and Bill Koenig, Bloomberg:
...
Tuesday, June 30, 2009
Enterprize bids $3.3 billion for Teppco, the deal, which would form the "largest U.S. publicly traded energy partnership," would save the merged company $20 million.
From Matt Daily, Reuters:
NEW ...
Monday, June 29, 2009
Akio Toyoda, grandson of Toyota's founder, takes charge of Toyota and prepares to cut costs.
From Kae Inoue, Bloomberg:
Toyota Motor Corp., the world’s largest carmaker, named Akio Toyoda, grandson ...
Tuesday, June 23, 2009
Russian Stocks Slump Most in World as Oil, Metals Decline
Russian stocks suffered the most among equity markets from oil and coppers recent drop, reported Bloomberg. Russia has invested a lot in oil, ...
Tuesday, June 16, 2009
On Tuesday, the U.S. House passed its “Cash for Clunkers” program, reported CNN Money. The goal of the bill is to help the economy and the environment. If enacted, it would reduce gas consumption ...
Thursday, June 11, 2009
U.S. Budget Deficit Nears $1 Trillion
So far this fiscal year, the budget deficit is $991.9 billion, 12% of U.S. gross domestic product. Gus Faucher, director of macro economics at Moody’s Economy.com, ...
Thursday, June 11, 2009
Hard Luck For Confidence
Although it went up in May, consumer confidence has fallen back down to previous levels. One index placed consumer confidence at -47 on a -100 to +100 scale, reported ABC ...
Wednesday, June 10, 2009
N. Korea Sentences US Reporters to 12 Years Labor
North Korea has convicted and sentenced two American journalists to 12 years of hard labor, which is the maximum in North Korea, reported Breitbart. ...
Tuesday, June 09, 2009
The latest event in the General Motors (GMGMQ:OTC BB) bankruptcy is the news that it will sell its Saturn brand to Penske Automotive Group (PAG:NYSE).
CNNMoney’s David Goldman and Peter Valdez-Dapena ...
Monday, June 08, 2009
Coming: A 3rd Wave Of Foreclosures
The number of foreclosures affecting “‘safe’ borrowers with sound credit” now accounts for the biggest portion of new foreclosures. MSN Money said to expect a third ...
Thursday, June 04, 2009
BofA, JPMorgan, Others Raise $19 Billion
JPMorgan, Bank of America and other banks announced that they have raised over $19 billion, Reuters reported. With the Federal Reserve preparing to declare ...
Wednesday, June 03, 2009
The once-official mouthpiece of the former Soviet Union says America has gone Marxist. The General Motors saga makes for a good case in point. Does the charge hold up? You decide...
It must be said, ...
Wednesday, June 03, 2009
... during that time. That, combined with the uncertainty of bankruptcy, means that many suppliers will simply go out of business.”
And it’s not just U.S. suppliers feeling the pinch. GM has many foreign ...
Tuesday, June 02, 2009
... news for consumers. But unfortunately for several of GM’s foreign auto parts supplies, the bankruptcy filing leaves these firms with bad debts. Forbes reports that more than 100 Japanese firms will now ...
Monday, June 01, 2009
Euro-Zone Inflation Rate Falls to Zero
Inflation in the Euro-Zone is down to zero in contrast with expectations of 0.3 percent. One economist told The New York Times, "There remains a real risk that ...
Monday, June 01, 2009
