Washington Wants A “Car Czar”, Russia Has None to Spare
Czar Nicholas II is not available due to his untimely demise, so Congress and the administration will have to find someone else to act as the "car czar", the role of making sure that…
Cars and Drivers
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Detroit wants a dollar and it may get a dime. Congress may give The Big Three enough money to make it until early next year. GM (GM) and Chrysler are particularly desperate for funding.…
Toyota (TM) Cuts Deeper In North America
While the US car companies struggle to survive and GM (GM) and Chrysler say they may not make it until the end of the year, even mightly Toyota is bleeding. The Japanese car company…
Chrysler Hires Bankruptcy Attorneys
According to a report in The Wall Street Journal, "Chrysler hired the prominent law firm of Jones Day several weeks ago as bankruptcy counsel, a move that suggests the auto maker is preparing for…
Agencies Battle Over Who Has Rights To Bailout Detroit (GM)(F)
The latest and one of the most bizarre aspects of the decision of whether the US government will make loans available to bailout Detroit is the battle over which federal agencies can provide capital…
The Bankruptcy Option Catches GM (GM) And Chrysler In It Web
The last word from Washington is that Congressional staff and some car company executives understand that pre-packaged bankruptcies of GM (GM) and Chrysler may be the only effective ways of saving the companies. The…
Chrysler Threatens World Order
Fighters who are about to go down for good always resort to fighting dirty. Why not? Nothing to lose. Jim Press, Chrysler’s vice chairman, repeated the party line. If we don’t get cash, we…
Rumor: UAW May Cry “Uncle”
According to The Wall Street Journal, "Leaders of the United Auto Workers union are close to signing off on changes to the 2007 labor contract with Detroit’s three auto makers, in a move that…
Detroit’s Unusually Fuzzy Logic (GM)(TM)(F)
The Big Three restructuring plans submitted to Congress make good bedtime reading. The programs are full of assumptions which, taken as a whole, indicate that the entire US car industry will be in exceptionally…
GM’s (GM) Silly Turnaround Plan
GM (GM) distributed its turnaround plan to Congress. It was almost exactly what the market expected, but it fudges one key issue, which is what happens to the company’s finances if it loses a…
Ugly Motor Sales Continue (F, GM)
Ford Motor Co. (NYSE: F) just released its November auto sales, and it is pretty hard to get excited about the data. The company sold 118,818 units in November, below the 119,000 Edmunds.com predicted. …
Ford Outlines Government Turnaround (F)
Ford Motor Co. (NYSE: F) is submitting its plan to Congress, and interestingly enough it does not sound as dire as some might have guessed based upon the auto company’s prior presentations. Ford has…
Memo To Congress: Merge The Big Three (GM)(F)
Look at the GM (GM) 10-Q. The company had $3.3 billion in sales, general, and administrative expenses. That is all of those white collar workers, the R&D and product development staffs, the marketing men…
Memo To Congress: Toyota (TM) Already Won
A lot of fat, pork-barreling Congressmen who are supposed to vote on an auto bailout just want to go home for the holidays. Many of them are out of work. They were caught doing…
10 CEOs To Go For 2009: Rick Wagoner of GM (GM, F)
It is already December and it is time for corporations to have at least started their reviews for how to improve in 2009. Those reviews will involve many management reviews, and many companies would…