Auto Bonds, Stocks Gain on GMAC Deal
In a quiet day for the markets, the U.S. government’s decision to throw a lifeline to the financing arm of General Motors has reduced the ... Partners. Similarly, Ford Motor Credit Corp.’s insurance protection is at $2.15 million, compared ... cost of insuring those bonds against default. The credit-default swaps of General Motors [more...]
Date: 2008-12-30 09:13:00
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Auto Sales Collapse, GM At 49 Year Low
It was a grim December across the board for Automakers as GM’s 2008 U.S. Sales Plummet to 49-Year Low; Toyota, Honda Fall.General Motors Corp ... t overcome the weight of consumer pessimism and tight credit in the world’s biggest auto market. Ford’ ... percent, Ford Motor Co. fell 32 percent and Nissan Motor Co. was down 31 percent, pointing toward [more...]
Date: 2009-01-05 19:27:00
Can Hank Paulson Use TARP Funds To Bail Out Auto-Makers?
So just in case you’ve been living in a cave this week, Congress is struggling to figure out how to bailout the big three automakers ... have significant financial service companies. For example, Ford has Ford Motor Credit. GM owns GMAC [more...]
Date: 2008-12-13 19:55:45
CARDIN BACKS BAILOUT OF US AUTO INDUSTRY
From the Office of Ben CardinThank you for contacting me about ongoing efforts in Congress to aid the ailing U.S. automotive industry ... of credit to General Motors, Chrysler, and Ford to help them continue to operate in the near term ... .Although the decline in the U.S. market share held by General Motors, Chrysler and Ford began many [more...]
Date: 2009-01-13 13:36:00
On January 5
On this day in ...... 1914(95 years ago today), Henry Ford announced what the New York Times called " ... available at the Ford Motor Co. These days Ford executives are bidding for a federal bailout. (credit for 1914 photo of employees painting a new Ford on the assembly line)... 1943, amid World War II [more...]
Date: 2009-01-05 11:01:00
Why Video Will Be So Important in 2009
One of the principles that Web 2.0 affords us all is that, thanks to the ease of self-publishing, ... credit: Ford Motor Company ... . This became pretty clear to me today, when we made an announcement at Ford that we're launching a new [more...]
Date: 2008-12-30 23:24:33
Buying the Auto Industry when Everyone’s Selling
Now is not the time to be in the car business. As the stock market plunged in October, car sales followed suit ... the heat. Credit is tight, meaning prospective car buyers will need a better credit score if they want ... , either. Ford Motor Co. execs are predicting industrywide December sales numbers to drop by 35 [more...]
Date: 2009-01-15 19:57:40
EcoBoost: High Tech Green Technology
photo credit: Ford Motor Company EcoBoost was released last year at the auto show (which I did not attend) and this year at the auto show, everyone is talking about it. The vehicle that I’m in love with, the Ford Flex 2010 will feature this green technology saving me more money. Who doesn’t love [more...]
Date: 2009-01-08 02:16:43
Giving the Auto Companies What They Want
With the prospects for some kind of short-term aid for the auto makers looking more likely, ... Motors rose 22% while Ford Motor gained 15%. Weekend negotiations produced a framework that would ... of the funds would go to GM and Chrysler, as Ford has said it only needs a government line of credit [more...]
Date: 2008-12-08 14:14:27
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]
Date: 2008-12-30 14:03:40
GMAC Deal Boosts Auto Stocks
The government’s decision to provide $6 billion in financing to steady the lending arm of auto giant General Motors has jolted futures on ... , shares of GM were up by nearly 8% and rival Ford Motor Co. gained 5.9%, while stock futures rose ... credit rating needed for funding new loans to 621, down from the 700 limit established by GMAC two [more...]
Date: 2008-12-30 17:03:00
Bush Working on "Orderly" Auto Bankruptcy
Apparently the President has heard the voices of his own party, ... for at least a month as it, General Motors Corp. and Ford Motor Co. await word on government action. General ... bankruptcy court is the best way to work through credit and debt and restructuring," he said during [more...]
Date: 2008-12-18 19:04:54
GM, Ford Jump on Rescue Package
News of a $17.4 billion rescue package for the nation’s auto makers that avoids bankruptcy has bolstered shares of the publicly ... of General Motors were up 45 cents, or 12%, to $4.11 a share, and Ford Motor Co. shares rose 26 cents ... Lombard, analyst at Gimme Credit. GM is expected to try to exchange as much of its senior [more...]
Date: 2008-12-19 15:28:32
ON THE RECORD at 10pm !!!
images-53 ON THE RECORD at 10pm PROGRAMMING NOTE: Tonight the CEO of Ford Motor Company, Alan Mulally. I am interested in, among other things, why Ford is asking for a line of credit when it says it does not need it???? and is the CEO really going to work for $1/year??? or are there options [more...]
Date: 2008-12-17 20:53:15
Bailout truthiness, and one cheer for Ford
By TigerHawk at 12/10/2008 07:50:00 PM Ouch: ... . By shunning government loans, Ford Motor Co.'s top executives say they hope to buff up the automaker's image ... of the year without it. But Ford set up $23.5 billion worth of credit in 2006, and both Chief Executive Alan [more...]
Date: 2008-12-11 01:08:02
2008 UK car sales fall
The UK motor industry has experienced a 12-month low in the number of cars sold, according to the Society of Motor Manufacturers & Traders ( ... , with the Ford Fiesta, Vauxhall Corsa and Ford Focus being the top three best-selling vehicles ... confidence. Further action to ease access to finance and credit across the economy is essential if long [more...]
Date: 2009-01-07 15:24:01
Car Sales Continue to Crash
Although many economists simply lump car sales as a consumer purchase, ... . Last month was no exception. Auto sales were off across the board. Ford Motor Co. today reported a 32.4 ... have more money to lend for automobile purchases. But note, while banks do provide lines of personal credit based [more...]
Date: 2009-01-05 23:40:47
Chrysler Wants $3 Billion More
—Gabriel Malor See, the failing car-maker originally wanted $7 billion, but only got $4 ... Street rescue fund, known as the Troubled Asset Relief Program, or TARP. Ford Motor Co. said Sunday that it would not seek a $9 billion line of credit as planned because the company was satisfied [more...]
Date: 2009-01-13 03:42:56
THANK YOU AMERICA!!! Chrysler Gets $4 Billion Loan In U.S. Bailout
DETROIT — Chrysler LLC received its $4 billion low-interest federal loan Friday, helping the auto maker continue funding its operations ... the next two months. Chrysler has been hurt more than GM and Ford Motor Co. by the U.S. recession because it relies on North America for about 90% of its sales. Tight credit and a weak economy [more...]
Date: 2009-01-04 19:05:27
Hyundai to slash domestic production by at least 25 percent during Q1
Hyundai to slash domestic production by at least 25 percent during Q1 Read More Discuss (3)E-Mail Despite global efforts to loosen credit and inject cash into the financial markets ... with sagging demand. Companies like General Motors, Ford and Toyota have already announced production [more...]
Date: 2009-01-09 20:15:38
US porn baron's appeal for $5bn bailout
Larry Flynt is hoping to bring off one of the more bizarre PR coups of the credit crunch by asking the US government for a $5bn (£3bn) ... after Ford, General Motors and Chrysler began to feel the effects of the recession.Flynt and Francis [more...]
Date: 2009-01-09 10:06:00
GM lowers minimum credit score for car buyers
Many are slowly becoming more confident in car manufacturers. It may be due to an infusion of cash into the auto industry, higher cash rebates, and lower interest rates. The Riverside Auto Center is home to Fritts Ford, Moss Bros. Dodge, Dutton Motor Company [more...]
Date: 2009-01-06 08:19:36
U.S. Climate Action Partnership Presents Outdated Climate Plan
From the Wonk Room. Today, in the first hearing of the House Energy and Commerce Committee under the leadership of Rep. Henry Waxman (D-CA) ... the political tide in Washington. They deserve credit for moving past conservative rhetoric that denies ... indicated in a recent report, “A U.S. climate bill should set a target of reducing U.S. greenhouse gas [more...]
Date: 2009-01-15 23:59:04
New Year?s Resolutions for the Credit Crisis
“Finish each day and be done with it,” said Ralph Waldo Emerson. “You have done what you could. Some blunders and absurdities have crept in ... institutions on mergers and acquisitions. The credit crisis exposed a major fault in short-term– ... when they couldn’t get any more credit lines. In November, banks afraid of a repeat performance of those [more...]
Date: 2008-12-31 10:02:00
Things I’d Like to Post About Today ….. (121108, Morning)
….. But I Don’t Have Any Time For: My, this has been quiet — “General Motors and Chrysler have said they cannot survive much longer without the federal aid, while Ford Motor Company, which is in better shape than its competitors, has said it will not seek the emergency loans.” My guess is that Ford has seen the strings attached [more...]
Date: 2008-12-11 12:40:49
UAW success will cut throat of GM, Chrysler and Ford
If the unions don't allow the auto companies to become competitive, then this whole bailout exercise will be nothing more than a severance package for unions workers. It appears that Congressman Frank doesn't comprehend that people will still not buy the ailing companies product until they match the value of the leading sellers and you won't get [more...]
Date: 2009-01-10 19:42:38
Auto sales continue to plummet
Can’t do too much to rescue automakers if no one is buying cars. Detroit’s bad vehicle lineup is only partly to blame ... on an annualized basis, down from 16m. Bloomberg: Ford Motor Co. said U.S. sales fell 32 percent in December, while Honda Motor Co. posted a 35 percent decline as the recession curbed demand in the [more...]
Date: 2009-01-05 18:18:28
EVERY BOWL GAME IN TEN WORDS
We now present the only guide to bowl watching you’ll need: every bowl game previewed in just ten words each. EagleBank Bowl: Wake Forest vs ... , but someone’s catching herpes on this trip. San Diego County Credit Union Poinsettia Bowl, Boise ... , 8 p.m. ESPN Weis in volcano “accident”; delicious smell permeates island. Buyout: POOF! Motor [more...]
Date: 2008-12-09 18:19:25
No Joy in Mudville, Auto Makers Have Struck Out
A Sea of Cars in U.S. Ports, Going No Where Soon, Picture Credit: M G Spiller Chemically Green’s previous post on the bailout, Don’t Be Duped! U ... to SUVS. image credit LONG BEACH, California (Reuters) - From pricey luxury sedans to popular ... the Long Beach port near Los Angeles, Toyota Motor Corp vehicles including Prius hybrids (Prius [more...]
Date: 2009-01-07 21:39:10
The Poverty Business
Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]
Date: 2009-01-15 00:45:24
Week Ahead: Bear Market Wake Up Call
Visit the front pages of Wall Street Greek and Market Moving News to see our current coverage of economic reports and financial markets ... with a bang. The period brings monthly Motor Vehicle Sales, the release of important FOMC meeting minutes ... him about how Bernie Madoff's ponzi scam got past him.Auto makers are set to report monthly Motor [more...]
Date: 2009-01-05 14:00:00
Merry Christmas
by Bill Levinson (originally posted in 2007) Recent efforts to downplay Christmas range from retail stores that forbid their employees to mention the holiday to legal efforts to remove creches and other Christmas symbols from public places. While we understand the desire to avoid offending non-Christians with these displays, [more...]
Date: 2008-12-25 20:06:53
Chrysler, Ford idle factories, GM delays new plant
DETROIT (AP) — Chrysler announced Wednesday it is closing all its North American manufacturing plants for at least a month, ... , the Volt. Ford also said it will shut down 10 plants for an extra week in January because of sluggish ... to work. That’s all we want to do. It’s scary, man. It’s really scary.” The lack of consumer credit [more...]
Date: 2008-12-18 04:00:06
GM, Ford and Chrysler say sayonara, Tokyo
There were some notable absences at this year's Detroit auto show, including Nissan, Suzuki and Ferrari ... . It's the latest sign that a bad economy and crashing sales are disrupting the industry ... and may lend them more after March. Ford did not take government loans but left open the possibility [more...]
Date: 2009-01-15 02:39:09
Linkage
Time to Hit the Car Lots: We think it is an excellent time to hit the car lots. Sales are slow, inventories are high, raw materials ( ... due to the credit crunch. Dealers and manufacturers are hurting and are hungry for business ... player in the US. They work and act more domestic than even Chrysler. We were disappointed with Ford [more...]
Date: 2009-01-08 20:09:22
2008 SALES FIGURES ARE IN; WORSE THAN EVEN IMAGINED
(This Nissan GTR race car seen in Tokyo shows-off the car to its advantage; the economy has slowed GTR sales and even though only 1, ... from outlets including the Associated Press to Motor Trend, from Automotive News to the Huffington Post ... in the US to see a sales increase in 2008). General Motors, Ford, American Honda and Toyota USA all reported [more...]
Date: 2009-01-06 10:31:31
THE AUTOEXTREMIST
January 14, 2009 Detroit’s Winter of Discontent: Hits and Misses from the 2009 North American International Auto Show. By Peter M ... further ado, let’s get on with it. We’re the guys who do our jobs; you must be the other guys. The Ford ... . CEO Alan Mulally has his team focused and on-message, and Ford – the domestic automobile company [more...]
Date: 2009-01-14 13:41:54
US auto sales plunge whopping 36 percent in December
DETROIT (AP) — Huge rebates and zero-percent loans couldn’t overcome economic uncertainty as U.S ... million vehicles from 2007. Auto Sales Ford The bleak numbers, according to both industry ... in, coupled with a loosening of credit that could bring people back to the showrooms. Even Toyota [more...]
Date: 2009-01-06 02:35:35
Ford's CEO Takes to Twitter
I was at a preview event that Ford was holding for media prior to the North American International Auto Show (NAIAS) ... and passionate about Ford. I'm proud to be working for him. Here's a sampling of questions &amp ... @ScottMonty Q. for Mulally: In hindsight, wd he have changed Ford's strategy in 2007/08 if he'd known [more...]
Date: 2008-12-16 21:34:38
2008 Lookback: Worst Calls of the Year
In a year when the Standard & Poor’s 500-stock index has lost 40% and just two of the 30 Dow industrials components are posting ... it all. What had been a generalized market malaise turned into a catastrophe, a two-month panicked shutdown of credit markets as trust went out the window. “The secondary market in credit stopped,” [more...]
Date: 2008-12-23 13:47:53
Economic Potpourri December 30, 2008
The barrage of noteworthy economic news continues as we head into the new year. Here are a few headline news reports of interest from the past couple days.Japan mulls scheme to buy bad loansJapan's government and central bank are considering a $110 billion scheme to buy bad loans and other financial assets from banks to ease a credit crunch [more...]
Date: 2008-12-31 02:58:00
DrumBeat: January 13, 2009
Analysis: Global power demand to languish in 2009 The outlook for energy commodities this year remains grim, says a new report from Merril Lynch. Neither cold winter temperatures in the Northern Hemisphere nor a steep fall in the price of energy have provided much support to the demand for oil, natural gas or coal [more...]
Date: 2009-01-08 01:35:34
DrumBeat: January 12, 2009
A novel plan for economic stimulus What's different now? In the 1930s, even though the U.S. economy collapsed, we still had a surplus of natural resources -- we were then the world's No. 1 producer of oil and coal. Fast forward 80 years. Despite the recent temporary dip in the price of gas and heating oil, [more...]
Date: 2009-01-12 14:02:56
False Idols
The NY Times and others have stories about Michigan churches praying for a auto industry bailout from Congress ... on the well-being of General Motors, Ford Motor and Chrysler. “We have never seen as midnight an hour ... , Chrysler and Ford Motor Co, UAW Vice President General Holiefield said the industry had made its case [more...]
Date: 2008-12-08 17:12:41
UPDATE 2-Toyota to halt output for 11 days as sales slump
Toyota Motor Corp, the world’s biggest automaker, is to halt production at all its Japanese plants for a total of 11 days in February and March in a ... of a century and worse than struggling U.S. rivals General Motors and Ford Motor. Toyota had already ... of vehicles affected by the production stoppage. Toyota and local rivals Honda Motor Co and [more...]
Date: 2009-01-06 06:48:28
Summary of Senate Hearing and Congressional Leaders Publish New Letter to Bush
The Senate Finance Committee ended its nearly 6 hour meeting at 3:45 PM EST. The Detroit 3 CEOs were accompanied by the UAW president, Moody’s CEO/economist, and the CEO of supplier Johnson Controls. The 3 CEOs gave their comments at noon. Rick Wagoner mentioned he was confident in GMs viability plan [more...]
Date: 2008-12-05 00:04:29
Auto parts suppliers may lose credit rating
Crain’s Detroit Business reports that the possibility of bankruptcy by GM may lead to the Wall Street credit ratings of their major suppliers being ... of a possible Chapter 11 bankruptcy at GM, and Fitch’s view that Ford Motor Co. would also fall ... downgrade on fears of a potential bankruptcy at General Motors. Wall Street credit ratings firm Fitch [more...]
Date: 2008-12-15 04:54:39
Specter of bankruptcy rears its head
Birthplace of General Motors foreshadows the end? (photo: Derek Farr via Flickr.com)After Senate Republicans dashed the Big Three automakers’ hopes for a congressional bailout last week, General Motors decided it was time to begin seriously exploring a Plan B [more...]
Date: 2008-12-15 14:25:16
Real Housewives of Orange County: Gretchen’s Tragedy and Glass Houses
It’s season four of Housewives with two new additions: 30-yr-old Gretchen Rossi and Lynne Curtain ... Technologies. A mechanical enigineer, Beitzel worked for Ford Motor Co. until 1983. After leaving Ford, Beitzel founded several automotive companies prior to working for Quantuam. Jeff Beitzel’ [more...]
Date: 2008-12-31 06:26:51
Few Cars For Christmas
Chrysler took the biggest hit in December. Sales fell 53% from year-ago levels . . . GM (GM, Fortune 500) reported a 31% sales plunge. That allowed it to post a modest gain in market share . . . No. 2 Toyota Motor (TM) reported a 37% decline, Ford Motor (F, Fortune 500) posted a 32% drop in sales, Honda Motor (HMC) a 35% fall [more...]
Date: 2009-01-06 04:12:00
