John Dingell and other slippery congressmen and governors who get free meals and martinis from car company lobbyists went to the Federal Reserve and begged for $10 billion to help GM (GM)…
Approximately half of the subscribers to Sirius (SIRI) satellite radio originally came though new car sales. That channel accounted for about 80% of sales last quarter. With US car sales down 30%…
It was no secret that US auto sales were going to be down the drain. Frankly, it is hard to find many who really expect any sudden recovery. The election on Tuesday…
GM’s (GM) stock can no longer be viewed as equity in the sense that it would be at most companies. It does trade on the NYSE, at an average volume of 28…
Douglas A. McIntyre According to Reuters, South Korea launched a major economic stimulus package. Reuters reports that nearly 1,800 publicly held institutions could apply for U.S. government investments. Reuters reports that HBOS took an $8.5…
The US unemployment rate in September was 6.1%. The consensus estimates are that the numbers will rise, but there are differences over how much. The Bloomberg News survey of economists gives an…
GM (GM) may not get the $10 billion it needs to buy Chrysler, but, even if the Fed comes up with the money, the UAW may try to block the deal. A…
Douglas A. McIntyre American car companies hoped the day would never come. Data from October is expected to show the market shares of Toyota (TM) and Honda (HMC) for US vehicle sales is expected to…
Because Chrysler is now a private company, no one outside the corporation and its investors has a precise picture of its finances. Through the first nine months of this year, Chrysler sold…
In a recession, people are supposed to be able to buy soap, hamburgers, beer, and video games. This downturn may be worse than most. Electronic Arts (ERTS), posted a net loss of…
So much for the plan that GM (GM) would get loot from the Federal Reserve to buy Chrysler. Sources say that the administration will no not put cash into an auto rescue…
According to Reuters, the economy contracted in the third quarter as consumer spending dropped sharply. Reuters writes that Fidelity Magellan Fund bought shares in big banks in September including Bank of America…
Many of the layoff announcements which came over the last several days were as unexpected as they were large. If a recession is measured by the rapidity and breadth of job losses…
It has only taken a week for the global auto business to rebound from one of its worst periods in decades. GM (GM) is close to a deal to buy Chrysler. The…
According to Reuters, investors and banks are in a struggle over whether financial companies should be able to change the way they value assets under accounting rules. Reuters writes that improvements in…
