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 According to Reuters, Chrysler will idle its plant for a month to cut inventory and costs. Reuters reports that the SEC is under fire over the Madoff investigation. Reuters reports that Obama…
These are some of the key analyst downgrades and negative calls we have seen this Tuesday morning: ADTRAN (ADTN) Cut to Neutral at Baird. Allianz (AZ) Started as Underperform at Jefferies. Cypress…
The car czar is a joke, a way to get a few billion dollars to GM (GM) and Chrysler while they move their companies in better shape for Chapter 11 filings. The…
Douglas A. McIntyre The recession has caused so much panic among Americans that it has addled their minds. According to a new poll from The Washington Post and ABC News, most citizens do not favor…
Douglas A. McIntyre The airline industry rule about Chapter 11 is to file whenever necessary and file early while there is still cash on the balance sheet. GM (GM) and Chrysler may be learning the…
Douglas A. McIntyre Toyota (TM) has been poised to become the preeminent global car company for sometime. Its worldwide production passed GM’s (GM) in the first half of the year. It is well ahead of…
General Motors (NYSE: GM) is finally taking a step in the obvious direction. The company is now apparently cutting about 250,000 units of production in the first quarter. This will be accomplished…
Douglas A. McIntyre According to MarketWatch, "Treasury says ‘stands ready’ to help auto makers." "Treasury said auto aid would last until Congress acts." GM’s (GM) shares, which were down as much over 15% are rallying…
Douglas A. McIntyre Now that the Senate has blown any chances of saving the auto industry before its first session next year and facing claims by GM (GM) and Chrysler that they are out of…
Douglas A. McIntyre 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…
