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…
Douglas A. McIntyre According to Reuters, the auto bill died in the Senate and there will be no more action this year. Reuters reports that the Bank of America (BAC) will cut as many as…
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…
Douglas A. McIntyre According to Reuters, the House passed a $14 billion bailout bill. Reuters reports that according to Mastercard (MA) retail sales fell sharply in November. Reuters writes that Congress criticized Treasury over its…
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…
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…
No matter how far down bank stocks go and how hard regulators try to keep short sellers out of financial shares, some of the smart money is willing to gamble that the…
According to Reuters, the House will vote on the auto bailout as early as this week. Reuters writes that Rio Tinto (RTP) will cut 14,000 jobs. Reuters reports that AIG (AIG) owes…
Cutting jobs is one thing. Going out of business is another. As it becomes clear that millions of jobs will be lost by companies which are weak but will probably make it…
"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…
According to Reuters, the Senate will return to auto bailout talks this week. Reuters reports that Merrill Lynch (MER) CEO Thain is seeking his $10 million bonus. Reuters reports that unsold cars…
It is that time of year where companies should have been evaluating their plans for the year ahead. Each year we come out with a list of companies who should get rid…
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…
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…
Douglas A. McIntyre 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…
