According to Reuters, stress tests results will force ten banks to have to raise nearly $75 billion. Reuters reports that Toyota (TM) lost $6.9 billion and warned of more losses ahead. Reuters…
In a bit of a role reversal, the US light vehicle sales of the large Japanese car companies did worse than The Big Three for the month of April. But, no one…
By the time Chrysler filed for Chapter 11 yesterday, it was no longer a large American company. Although the firm is private, most estimates are that the No.3 US car company may…
By the middle of the year, the federal government will own large, and in some cases, controlling interests, in two car companies and several major banks. There is a chance the the extent of rescue efforts…
GM (GM) must fire another 21,000 factory workers, as part of a plan to get an additional $11.6 billion in aid from the federal government. The restructuring plan would give creditors stock…
On news that GM (GM) has put together a new and very aggressive restructuring program, its shares are higher by 22% to $2.07, which gives the company a market cap of $1.28…
According to Reuters, a bill to restrict credit card charges cleared a key committee in Congress. Reuters reports that Ken Lewis of Bank of America (BAC) says his firm what urged by…
For all of the restructuring work that GM (GM) has done, all the layoffs, and negotiations with the UAW and creditors, it has never admitted that the domestic car market may not…
The Chinese government has become more aggressive about buying foreign assets. Chinese leaders recently said they would begin to make investments in Europe through their sovereign wealth fund. The country has capital…
VW may have passed Toyota (TM) as the world’s No.1 car company just as Toyota passed GM (GM) a year ago. The companies all operate in an industry where being on the…
According to Reuters, banks may be hard hit by the bankruptcy of General Growth (GGP) and future commercial real estate defaults. Reuters reports that VW may overtake Toyota (TM) as the No.1 car…
GM’s (GM) stock trades at $1.71, which is not even its 52-week low. Several news outlets have reported that the Treasury has asked the No.1 US car company to prepare for Chapter…
The Treasury Department may want to adjust what it thinks the cost of the bailouts of GM (GM) and Chrysler will cost. Word out of Japan is that Toyota (TM) will loss…
According to Reuters, banks have been asked to keep the results of the “stress tests” of their financial conditions confidential. Reuters reports that the Fed says its current plan is to prevent…
