With the Fed and Treasury apparently willing to sit on the sidelines while GM (GM) and Chrysler run low on money and head toward possible bankruptcies, it has been left to Congress…
There is a perception among investors and government officials that GM (GM) CEO Rick Wagoner will say anything to save his job. He has argued hard and often that people will not…
These are the top early bird analyst downgrades we are seeing with more than two hours to the open on this Tuesday morning: Alcoa (NYSE: AA) Cut to Market Perform at FBR.…
GM (GM), Ford (F), and Chrysler managements are shuttling in and out of Washington trying to get both the people leaving and the people coming in to lend them $30 billion or…
Markets in Asia were mixed. The Nikkei fell 3.6% to 8,583. Shares in Toyota (TM) fell on a profit warning. The Hang Seng rose 3.3% to 14,238. HSBC (HBC) rose. The Shanghai…
Douglas A. McIntyre Toyota (TM) reduced its earnings estimates by more than 50%, making it the last large global car company to admit that there is nothing to be done about salvaging this year or…
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…