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…
GM (GM) shares are up 9% on rumors that all major issues needed to set up a merger with Chrysler have been worked out with Cerberus which owns a majority of the…
Douglas A. McIntyre It has been clear for some time that GM’s (GM) sales in the US and Europe have been poor and are likely to stay that way. The company said that in the…
Douglas A. McIntyre According to Reuters, global stocks rose on possible rate cuts but the economic outlook is grim. Reuters reports that the Fed is expected to cut rates with Japan likely to follow. Reuters…
In a sign that the car industry is alive and well, the market cap of VW passed Exxon (XOM) to move it into first place worldwide. According to Bloomberg, the stock rose…
According to Reuters, GM (GM) and Chrysler have asked the government for $10 billion to close their merger. Reuters reports that Boeing (BA) and its machinists have entered into a tentative labor…