All Posts Tagged With: "GM"
The Detroit 3’s problem is really… “vehicle density”?
There have been so many different arguments for why The Detroit 3 should or shouldn’t get a bailout that we could make a casserole out of them. One argument against a bailout — or at least, a reason for the futility of a bailout — that we don’t recall hearing yet is “vehicle density.”
The argument [...]
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20Nov2008 | BlueFox | 0 comments | Continued
Quoth Mitt Romney in the NYT: “Let Detroit Go Bankrupt”
Mitt Romney, former Massachusetts governor, former entrant in the marathon to win the White House, and current automotive industry expert (who knew?) had a few things to say in the New York Times today on the potential auto industry bailout. The opening paragraph says it all: “IF General Motors, Ford and Chrysler get the bailout [...]
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19Nov2008 | BlueFox | 0 comments | Continued
German solar energy company offers to buy Opel from GM
General Motors CEO Rick Wagoner has already stated that the only brand in his company’s portfolio up for sale is HUMMER, but apparently this hasn’t stopped interested parties from making their play for other marques under the General’s umbrella. News broke today that German solar energy company SolarWorld has offered GM nearly $1.3 billion USD [...]
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19Nov2008 | BlueFox | 0 comments | Continued
Senator calls for 50-mpg mandate for Detroit to receive aid
“Thick and fast.” That’s the phrase that describes the opinions, pleas, advice, denunciations, and WTF? going on around the U.S. auto industry right now. Enter Congress, which is trying to figure out how to give Detroit automakers the $25 billion they were promised a few months ago. Congressmen are sounding off almost daily on what [...]
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17Nov2008 | BlueFox | 0 comments | Continued
GM to delay dealer incentive payments
From November 28 to December 11, GM is holding back incentive payments to dealers, including dealer cash and customer cash. Why? in the words of Mark LaNeve, GM’s VP of North American sales, because “Anytime you can delay any kind of a payment, it helps cash flow” And cash is probably the most important four-letter [...]
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17Nov2008 | BlueFox | 0 comments | Continued
GM selling remaining Suzuki stake for $230M
General Motors CEO Rick Wagoner mentioned last week that, in addition to selling the HUMMER brand, other assets were being evaluated for sale, as well. While no other brands are likely to be sold off besides HUMMER, GM did announce this morning that it’s selling all of its remaining stock in Suzuki. GM owns 16,413,000 [...]
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17Nov2008 | BlueFox | 0 comments | Continued
Congressional Democrats looking to toughen up bailout proposal
Today’s lame-duck Congressional meeting is going to be an important one for Detroit automakers, with House Democrats working on a $25 billion bailout proposal. Passion is high on both sides of the bailout argument, and Democrats are looking to toughen up a bill to help gain crucial votes needed for passage. Among the items being [...]
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17Nov2008 | BlueFox | 0 comments | Continued
European insurers quit covering Ford and GM suppliers
Soaked in bad news, GM and Ford received yet another dousing when their three big European credit insurers dropped them this week. Euler Hermes, Atradius, and Coface have all refused to write policies for suppliers trading with both automakers. The three giant insurance companies control more than 80 percent of the world’s credit insurance (insurance [...]
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15Nov2008 | BlueFox | 0 comments | Continued
Wagoner: HUMMER is the only brand for sale
General Motors CEO Rick Wagoner has confirmed that HUMMER is the only brand in the automaker’s portfolio that’s up for sale. Many believed that Saab’s days were also numbered and the Swedish brand would be getting out from under the corporate umbrella as soon as a buyer could be found. Not so says the Ricker. [...]
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14Nov2008 | BlueFox | 0 comments | Continued
GM stock takes 24% hit after analyst report
With General Motors dropping its $2.5 billion bomb on Friday, analysts, brokers and the public at large were waiting until today to see where the General’s stock price would end up. At the end of the day, it’s hovering around $3.36 a share, up from this morning where it hit $3.04, or four pennies away [...]
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10Nov2008 | BlueFox | 0 comments | Continued