Tesla's shares rose as much as 14 percent to $163.26 on Thursday morning, a day after Chief Executive Elon Musk promised that the company would start making money this year. While the company surprised investors with the strength of its vehicle sales forecast, some Wall Street analysts said the target was ambitious and that Tesla's cash burn rate remained a...» Read More
For decades, automakers looking for the secret to small-car success would journey to Toyota City in Japan. These days, they are coming to Tychy. Since Fiat effectively took over Chrysler this year, engineers from Detroit have been making monthly pilgrimages here to see something they can only envy: an auto plant that is hiring workers and earning a profit.
Whatever you think, and I know many of you reading this believe the guy ran GM into the ground and is now gone so who cares about him, what Wagoner thinks remains a mystery. Ever since the White House fired him at the end of March, Wagoner has been silent. As GM went in and out of bankruptcy, he said nothing publicly.
Taking full advantage of bankruptcy court, and the ability to drop contracts it no longer wants, GM is dumping dozens of sponsorships around the country.
Like the whirlwind trips in and out of bankruptcy for GM and Chrysler, Steve Rattner is leaving Washington just a few months after stepping into a high profile position with the Treasury Department. Rattner is leaving the Auto Task Force and heading back to private life in the investment world. Talk about making a splash and then getting out of town.
Today in Detroit, GM Vice Chair Bob Lutz is hitting the ground running in his move to change the image of the auto maker. Everything is up for review.
General Motors’ plan to sell its European operations to a Canadian auto parts maker and a Russian bank appeared Monday to be in trouble, when another bidder said it was nearing a deal for the unit, the New York Times reported.
Stocks racked up their fourth straight down week Friday as a Chevron profit warning exacerbated earnings worries. Techs got a boost from an upgrade on the hardware sector.
GM CEO Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.
Stocks were mixed Friday as a Chevron profit warning exacerbated earnings worries but an upgrade on the hardware sector boosted tech stocks.
On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.
Amid the gloom of bankruptcy and a miserable market for new vehicles, G.M.’s new Chevrolet Camaro muscle car is winning over consumers looking for a little excitement in a bland landscape of look-alike sedans and watered-down sport utilities.
Stocks opened lower Friday as Chevron's earnings warning added to investors' worries about earnings and the economic recovery.
Futures pointed to a modestly lower open for Wall Street on Friday as Chevron's earnings warning added to investors' uncertainty on corporate earnings.
As GM emerges from bankruptcy Vice Chairman Bob Lutz, who had been scheduled to retire at the end of this year, will take over GM's marketing and communications. His mandate: change the perception of GM, its brands and models. Talk about taking on a tough job.
Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt but faces a daunting task as car sales are in the worst slump in 25 years.
General Motors completed a major step in its turnaround and closed the sale of its good assets to a new, government-backed carmaker, at a speed unimagined by auto and bankruptcy experts.
Now comes the hard part. After 39 days in bankruptcy, shedding thousands of jobs, closing more plants, and writing off billions in debt, GM is about to exit chapter 11 protection and try to show it can finally thrive. On paper it should succeed. In reality, it still has to prove itself.
The path is now clear for General Motors to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.
More than the 4 trillion fiscal stimulus, these loan levels are stimulating the economy and are making analysts revise their estimates for 2nd half Chinese growth. But at what cost? Like the G8, the Chinese will sort out the problems caused by this stimulus after their economy rebounds.
A late upturn pushed stocks higher Wednesday as investors rotated into defensive stocks like pharmaceuticals and Alcoa advanced ahead of earnings.