According to Reuters, Europe prepared rate cuts as the economy their worsened. Reuters reports that the administration cleared the way for the car companies to get access to $25 billion in loans,…
Markets in Asia fell sharply. The Nikkei dropped 6.5% to 8,899. Toyota (TM) fell on poor earnings. The Hang Seng dropped 7.1% to 13,896. Cathay Pacific fell almost 16% on poor earnings.…
Douglas A. McIntyre 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…
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…
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…
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…
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…
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…
Markets in Asia fell. The Nikkei dropped 6.4% to 7,163.Mitsubishi UFJ Financial fell on news it may need to raise money. Toyota (TM) also fell sharply. The Hang Seng fell 8.9% to…
Douglas A. McIntyre Markets in Asia were sharply lower. The Nikkei dropped 9.6% to 7,649. Sony (SNE) fell after warning on earnings. Honda (HMC) and Toyota (TM) were both down over 5%. The Hang Seng…
Founded during The Great Depression, the UAW is now more than seventy years old. Henry Ford once supposedly said that the union would organize Ford (F) workers over his dead body. Ford…
Toyota is not supposed to have to give out any incentives to sell its cars. They perform better than other vehicles in customer satisfaction tests. They get good gas mileage. Toyota virtually…
According to Reuters, policy makers around the world are trying to deal with the fact that the economy is moving into a deep recession. Reuters writes that Google (GOOG) exceeded forecasts and…
According to Reuters, economic attention has now turned to the recession. Reuters reports that a new survey shows that half of all workers are worried about their jobs Reuters reports that unions…
