The Trouble With Merging GM (GM) And Chrysler
The latest big idea to help save the American auto industry is an old one–merge GM (GM) and Chrysler. It is a road the companies have been down before, but they are so desperate…
Cars and Drivers
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The car czar is a joke, a way to get a few billion dollars to GM (GM) and Chrysler while they move their companies in better shape for Chapter 11 filings. The two car…
New Poll: More Americans Want To Lose Their Jobs
The recession has caused so much panic among Americans that it has addled their minds. According to a new poll from The Washington Post and ABC News, most citizens do not favor a bailout…
Detroit May Have Missed Airline Industry Lesson
The airline industry rule about Chapter 11 is to file whenever necessary and file early while there is still cash on the balance sheet. GM (GM) and Chrysler may be learning the hard way…
The Car Industry Wildfire Spreads To Toyota (TM)
Toyota (TM) has been poised to become the preeminent global car company for sometime. Its worldwide production passed GM’s (GM) in the first half of the year. It is well ahead of US rivals…
GM Idling Plants In Cost Cuts (GM)
General Motors (NYSE: GM) is finally taking a step in the obvious direction. The company is now apparently cutting about 250,000 units of production in the first quarter. This will be accomplished via temporary…
Treasury Gets Behind Car Company Bailout
According to MarketWatch, "Treasury says ‘stands ready’ to help auto makers." "Treasury said auto aid would last until Congress acts." GM’s (GM) shares, which were down as much over 15% are rallying on the…
A Change Of Heart At The White House About Car Bailout
Now that the Senate has blown any chances of saving the auto industry before its first session next year and facing claims by GM (GM) and Chrysler that they are out of money, Bush…
How Much Is GM (GM) Faking? The Balance Sheet Mind Game
With Republicans in the Senate thwarting an auto company bailout bill, GM (GM) has decided to play its trump card. It has hired bankruptcy counsel. According to The Wall Street Journal, "GM (GM) management…
Auto Bailout Bill Dies
According to several sources, the Republican members of the Senate have effectively killed the Detroit bailout bill The New York Times reports that "The prospects of a $14 billion government rescue of the American…
Will GM’s Supplier Debts Eat All Its Bailout Cash?
Based on GM’s last quarterly financial statement, the car company had $28 billion in payables. Most of those were to suppliers. If the firm is trying to hold onto its cash, that figure could…
Will Auto Co. Credit Default Swaps Get Swamped? (GM)(F)
It may be old school but for every action their is an equal and opposite reaction. Take the auto bailout. It turns out that creating a car czar with special powers over The Big…
Autos: Bailout To Lock-Out? (GM, F)
Earlier reports had the $15 bailout framework as being reached as a conceptual agreement between the House of Representatives and the White House. In other words, in theory. But now fresh reports show Republican…
Posted Without Comment: Chrysler Refuses To Give Congress Its Financials
Chrysler would like several billion dollars as a part of the initial car company bailout and says that it is close to bankruptcy. In an essay in Bloomberg, Jonathan Weil points out that the…
Pontius Pilate Races Out Of Detroit
"Ecce Auto" (Behold the car). With that back of the hand brush off, the 110th US Congress just left the future of the American auto companies to be worked out next year by a…