President Obama’s last question of the night covered the Auto Industry and the fact that the government is about to become a major stakeholder in returning an entire sector to profitability.
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Obama Prime Time News Conference - Auto Industry
Topics: president-obama, banks, government, obama
The Motor City, even after this great downsizing and flogging of General Motors and Chrysler , is far from dead in the car business as some would have you believe. I was struck by this quote today in The Wall Street Journal : “It’s a pretty safe bet that Detroit is not going to be Motown in the very near future,” said John Heitmann, a professor at the University of Dayton …
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Auto Beat - BusinessWeek
Topics: university, brands under fire, recession
Analysis and discussion with Auto Industry Analyst Erich Merkle with his sense on the latest Ford results. (Bloomberg News) … Business Automotive Economy
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In-Depth Look - Ford’s 1Q Results - Bloomberg
Topics: automotive, economy, business
A local auto parts maker, TRW, announced it will permanently close it’s Ettrick plant because of difficult times in the automotive industry.
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TRW Auto Parts Plant to Close in Ettrick
Topics: parts-maker, wkbt, plant-because, lacrosse
In cutting major concession deals with General Motors and Chrysler this week, the United Auto Workers are walking a whole new line as it goes from being just a labor union to owners of the companies its members work for. A deal struck with General Motors exchanges debt owed to the union for 39% of the troubled automaker. A separate deal with Chrysler will give the 74-year old labor organization 55% of the privately held Chrysler. In both companies, …
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Auto Beat - BusinessWeek
Topics: real-estate, automakers, chrysler, white
Chrysler LLC and the U.S. Treasury Dept. have reached an agreement with banks and private equity firms holding $6.9 billion of the automaker’s debt. Those firms have agreed to take $2 billion and a small equity stake in the company, paving the way, it seems, for Chrysler to avoid bankruptcy and with Italian automaker Fiat. The deal, first reported by Washingtonpost.com, was confirmed by a Treasury official who said: “The agreement from Chrysler’s principal banks …
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Auto Beat - BusinessWeek
If you have a debt (that is a debt that you are personally liable for) that is cancelled or forgiven, you must include the amount of cancelled debt as ordinary income on your income tax return. However, there are exceptions to this rule. Here is a list of some of the exceptions which would allow you to exclude the cancelled debt from income: 1) …
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Canceled Debts, Foreclosures, Repossessions, and Abandonments
Topics: election, price, debt, bankruptcy
Ask a Toyota or Honda executive how much their respective companies make per hybrid car and you’re unlikely to get a straight answer. Indeed, it was progress of sorts a couple of years back when Toyota began saying that the Prius, which debuted in Japan over a decade ago, had begun contributing to the bottom line. Honda, meanwhile, prefers to point out that with the Insight it achieved its aim of reducing the cost of its Integrated Motor Assist hybrid system to below $2,000. All of …
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Auto Beat - BusinessWeek
The Green Ice Network covers the most current technology in transportation at the Go Green Expo in New York City 2009.
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Hydro Fuel Cell Cars
Topics: science & technology, fuelcell, hydro, green
Ford Motor Co. got a serious boost from Goldman Sachs Thursday when the investment bank raised its rating and share price target on the automaker, and minimized the chance that it would face bankruptcy in the next 18 months. “We are adding Ford shares to the Conviction Buy List with a six-month price target of $6 and raising our sector Coverage view to Neutral from Cautious, wrote Goldman Sachs’ Patrick Archambault. “Our call is driven by the almost unprecedented structural change facing the industry, which we think…
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Auto Beat - BusinessWeek
Topics: analyst-stephen, conviction, consumer, goldman-sachs, cars