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.
Yesterday there were some analyst report circulating that Intel spacer was unlikely to be overly optimistic because the PC food chain was weakening, that recent orders out of Taiwan were weak.
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.
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.
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.
Well, the Administration can't say "give it time to work" and have some others say "we need another one before this one has had time to do its thing." Talk about creating a box needlessly. And don't you find it curious that the meat of the Stimulus package, the shovel-ready job-creation part of the deal, is due to hit just about in time for the midterm elections?
Can diesel replace hybrids as the most attractive option for those who want a car powered by something other than unleaded gasoline.....The latest Intellichoice study is reason for optimism among diesel fans.
I have long thought the oil market got ahead of itself. The recent strength in the price has been due more to the thought economic recovery was close at hand. As I have been writing, I think that the recovery will come, but not today.
Two market obsessions now: Earnings season kicks off Wednesday with Alcoa; and debate rages over the need for a second stimulus package. Art Cashin, director of floor operations at UBS, offered CNBC his stock-market insights.
When you have a car company going through the great unknown of bankruptcy, you take the good news when it pops up. For Chrysler, the good news is the way residual values for new Chrysler vehicles are not only holding up, but actually rebounding a bit from when the company first filed for bankruptcy. It is the kind of proof the supports the arguments from the White House and elsewhere that bankruptcy would help, not hurt, Chrysler and GM.
If all goes as planned and GM comes out of bankruptcy Thursday afternoon the country's largest auto maker will have gone in and out of Chapter 11 in 40 days.
Stocks capped their third straight down week with a sharp drop Thursday as a weak jobs report muzzled all the green-shoots talk and investors hunkered down. The Dow lost 1.9 percent this week.
The U.S. lost 467,000 jobs in June, lifting the unemployment rate to a 26-year high of 9.5 percent. How bad is the news for stock markets? Art Cashin, director of floor operations at UBS Financial Services, offered CNBC his outlook.
Hyundai is trying to ease consumer fears about rising gas prices by running a new promotion where buyers of most Hyundai models join a program where they never pay more than a $1.49 a gallon for the next year. As promotions go, I think it's a smart move. It will get Hyundai in the conversation with many buyers.
Stock futures slid deeper into the red Thursday after a report showed more jobs were lost last month than expected.
Both the S&P and Dow rose on Wednesday, the start of the third quarter, as reassuring manufacturing data reinforced hopes that the world's economy is on the road to recovery.
Stocks got the second half off to a positive start Wednesday after logging their best quarter in a decade. The Dow gained 0.7%.