GMAC finally got its designation as a commercial bank. That allowed the firm to get $6 billion in federal money, $5 billion of which comes from the Treasury Department in exchange for…
Douglas A. McIntyre According to Reuters, GMAC will get $6 billion from the government with $1 billion coming through GM (GM). Reuters reports that violence in Gaza intensified. Reuters writes that Japan is looking at…
The executives in the automobile industry will go to any lengths to prove what boobs they are. GM management has elected to wait until next year before it begins to negotiate cuts…
Douglas A. McIntyre According to Reuters, authorities do not think Madoff could have acted alone. Reuters show that the US is sinking deeper into recession. Reuters reports that the SEC defended it response to the…
The easy answer to the question of what US operations of The Big Three are worth is that they are worth nothing. That assessment is entirely accurate based on the current encumbrances…
According to Reuters, a survey of 22 countries show three-quarters of households cutting spending and a sharp drop of confidence in emerging economies. Reuters writes that the US sold record debt and…
According to Reuters, Japan’s recession deepened as its exports fell sharply. Reuters reports that Ireland will spend $7.7 billion to bailout its largest banks. Reuters reports that Toyota (TM) will report its…
Canada will put up $3.3 billion in government loans for troubled car companies. GM (GM) and Chrysler have large operations there, particularly plants. A shutdown of the firms would cost thousands of…
Douglas A. McIntyre People who get to the end of 2008 and are still at work can be thankful. The unemployment rate will probably be over 7%. That does not count the people no longer…
It has become just another trading day for GM (GM). Shares are up 11% to $4.09. Over the last two weeks, it has traded well above that level on several days. On…
Douglas A. McIntyre President Bush said that he will offer loans from the TARP to cover funding needs for three months or so. The package is meant to mirror the one narrowly defeated in Congress…
Douglas A. McIntyre The Bush White House let it leak out yesterday that it was looking at Chapter 11 as a possible way to deal with GM (GM). The news is an acknowledgment that suppliers,…
Douglas A. McIntyre According to Reuters, GM (GM) and Chrysler are close to a loan deal with the government. Reuters reports that Obama will ask for a major stimulus package focusing on infrastructure and helping…
Credit rating agencies and stock analysts have the habit of stating the obvious after the obvious is obvious to everyone else. S&P cut its price target on GM (GM) today. A bit…
Douglas A. McIntyre 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…
Douglas A. McIntyre 