According to Reuters, Obama has dropped the idea of appointing a “car czar”. Reuters reports that Japan’s GDP is dropping at an annual rate of over 13%. Reuters reports that the Administration…
General Motors (GM) will not file Chapter 11. The government cannot afford to see a large portion of the job creation benefits of the stimulus package destroyed by having the big car…
GM (GM) and Ford (F) each used to have remarkably profitable European operations. A large part of their annual net income came from the region. Now, it looks like auto sales in…
Toyota (TM) will make large cuts in its North American operations as sales in the region continue to fall. Given the strength of the Japanese company’s balance sheet, the moves speak volumes…
General Motors (NYSE: GM) bondholders are requesting more money in exchange for forgiving billions in debt and are threatening to push the company into bankruptcy if they don’t get it, according to…
Douglas A. McIntyre Maybe GM (GM) won’t have to turn to Congress for a big rescue package. Putting in money may be of benefit to a company outside the US government. One of China’s largest…
Douglas A. McIntyre According to Reuters, Congress is ready to pass the stimulus package. Reuters reports that Chinalco is putting $17.5 billion into Rio TInto (RTP). Reuters reports that Wall St. CEOs were attacked by…
According to Reuters, Congress and The White House are working on the final stimulus package. Reuters reports that Wall St CEOs will defend their use of bailout money before Congress. Reuters reports…
General Motors Corp. (NYSE: GM) is doing almost whatever it can to get aggressive in cost cuts and streamlined operations ahead of its first post-bailout review next week. Some of the cuts…
Douglas A. McIntyre GM (GM), Ford (F), and Chrysler better pick up the pace of their sales in China. It is about the only place where anyone is buying cars. China car sales slowed a…
GM (GM) is preparing to go through another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and…
According to Reuters, the White House is finishing a bank rescue package , that involves investment by private equity. Reuters reports that a poll of analysts cut Q2 earnings forecasts. Reuters reports…
Nissan hit the car industry with news that was worse than expected. It will not only post a very large loss for the year, it will cut 20,000 jobs. What is more…
According to Reuters, Nissan forecast an annual loss. Reuters reports that the Treasury has delayed it bank bailout announcement. Reuters writes that Fannie Mae (FNM) and Freddie Mac (FRE) will channel new…
A look at the companies which announced layoffs in December and January demonstrates that almost no industry is immune from job losses due to this contracting economy. Tech companies such as Microsoft…