Bolshevicks Seize Detroit (GM)(F)(TM)
As far as anyone can prove, Henry Ford and Alfred Sloan were not members of the Communist Party. Neither one of them was asked to testify before the House Committee on Un-American Activities. No…
Cars and Drivers
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Newest first · Page 332As Porsche Takes Over VW, Big Three Find An Acquirer
Porsche is not a very big car company, but it has had some special rights to buy a significant amount of equity in the largest car company in Europe–VW. The VW management has not…
Kerkorian Dumps Ford (F)
Billionaire, or at least still multimillionaire, Kirk Kerkorian sold a large piece of his stake in Ford (F). The transaction amounted to 7.3 million shares at $2.43 each. The is only a tiny part…
As Chrysler Walks From GM (GM) VW May Be In The Footlights
GM (GM) may not be able to come up for the money to marry Chrysler. The deal could involve firing 60,000 people and paying their severance. The process of putting the two companies together…
Low On Cash For Chrysler Merger, GM (GM) Can Turn To Fed
There is an arcane rule in the Federal Reserve charter that allows it to provide funding to organizations outside the banking system. It is buried under dust and cob webs somewhere in the basement…
As Car Industry Fails, Detroit Class Warfare Loses It Power
Founded during The Great Depression, the UAW is now more than seventy years old. Henry Ford once supposedly said that the union would organize Ford (F) workers over his dead body. Ford is gone…
When Will The Rest Of Ford’s (F) Board Leave?
Most corporations have bylaws about how many board members they must have. The federal government requires that boards of directors keep enough outside members to maintain independent audit and compensation committees. Ford (F) may…
Toyota Goes To “Zero Percent” Financing As Its Sales Go To Hell
Toyota is not supposed to have to give out any incentives to sell its cars. They perform better than other vehicles in customer satisfaction tests. They get good gas mileage. Toyota virtually invented the…
Patricide At GMAC (GM)
GMAC was set up decades ago so that GM car customers could get inexpensive loans to buy their new vehicles. It made so much sense that most other auto firms set up similar operations.…
Ford’s CFO Walking The Plank (F)
In the climate of today, this may come as no real surprise. Ford Motor Company (NYSE: F) has announced that CFO Don Leclair will retire November 1. He will be replaced by Lewis Booth. …
S&P: Watch Out For Chapter 11 At Ford (F) And GM (GM)
Yesterday JD Power said that the global car market could "collapse" and GM (GM) fell 31%. Today S&P is saying that "General Motors Corp., Ford Motor Co. and Chrysler LLC may be forced into…
JD Power: 2009 Car Market Could Be “An Outright Collapse”
The news from the automobile industry did not improve today. Research firm JD Power warned that 2009 could be a more troubled year for sales that 2009 was. “While the global automotive industry is…
Are Short Sellers Hitting GM (GM)?
Are short sellers hitting GM? The stock has been off as much as 20% today and has traded as down to $5.41. The shares have not been that low since 1951. The auto company…
Citigroup Cuts Ford (F) And GM (GM) To “Sell”
After months of suffering indignities and falling sales, Citigroup cut shares in Ford (F) and GM (GM) to sell. It dropped it price target for Ford to $2.50 and GM’s to $6. According to…
Ford (F): Running Out Of Cash, Could Its Shareholders Be Wiped Out?
Ford (F) may have cut costs to the point where the company cannot even operate properly anymore, the number of people in product development, management and marketing has gone so low. That still may…