Both General Motors and Chrysler have announced plans to dramatically reduce their networks of thousands of dealers, saying that the moves are needed to cut costs as part of their restructuring efforts.
Stocks ended flat Monday as a late rally fizzled after the Supreme Court issued a stay, temporarily halting the sale of Chrysler to Fiat.
Plus, get calls on President Obama's stimulus spending, fast food, the Paris Air Show and more.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meaeting.
General Motors will announce the members of its new board of directors "very shortly," CEO Fritz Henderson told CNBC Monday.
Stocks opened lower Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Fed may raise rates at its next meeting.
If you've read this blog for some time you've heard me say the easiest part of GM's bankruptcy will be filing the motions to cut dealers, shed plants, erase liabilities. And as always, don't take my use of the term "easy" to mean there is not a lot of pain that goes hand in hand with severing ties with thousands of people who have been part of the GM family for decades. There is plenty of pain.
Futures pointed to a lower open for Wall Street Monday as the dollar and U.S. Treasury yields soared on the back of last week's cheerier jobs data, which prompted speculation that the Federal Reserve may raise rates at its next meeting.
Three Indiana state pension and construction funds want the Supreme Court to block Chrysler's sale to Fiat so they can pursue an appeal in hopes of getting a better deal.
Plus, a diversified portfolio that is perfect for this market.
Stocks rose for a third straight week as investors got their game on for a recovery. Still, Friday's trading was choppy as investors cheered an early pop from the smaller-than-expected job loss in May but the market couldn't sustain the gains.
A U.S. appeals court said Friday it would conditionally approve Chrysler's sale to Fiat but is keeping the deal on hold until Monday to allow an appeal.
Stocks struggled to hold gains Friday as investors cheered an early pop from the smaller-than-expected job loss in May but techs and pharmas dragged and the weakeness began to seep into other sectors.
Automakers are definitely feeling the bumps in the road, with GM’s bankruptcy filing this week and its recent sale of its Saturn brand to Penske but some of the industry’s top executives are still seeking growth in other regions globally and implementing successful strategies despite the struggling economy.
General Motors has a tentative deal to sell its Saturn brand to former race car driver and dealership group owner Roger Penske, according to two people briefed on the deal.
Stocks shot out of the gate Friday as investors cheered a smaller-than-expected job loss in May.
Whenever I tell people that Saturn has been a neglected, and potentially highly profitable jewel in the GM family of brands, people look at me like I've got three heads.
Stock index futures pointed to a higher open Friday as investors braced for the May nonfarm payrolls report as a key gauge on the state of the economy.
Stocks advanced Thursday after a report showed jobless claims fell last week and banks gained. Weak retail sales tempered the mood.
When General Motors emerges from bankruptcy protection, it will technically be a brand new, privately held company, yet it will be more publicly owned than ever, with taxpayers holding a 60 percent stake.