Could it be we Americans are ready to take a new look at the Big 3? A couple of data points coming out this week show good news for GM and Chrysler, and by extension of being a domestic auto maker, for Ford as well.
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It is an idea that has been floating around Detroit among those in the auto industry. Should General Motors change its name? When I first heard this question, I chuckled and thought, "Would it really be wise to throw out a well known name after 100 mostly successful years?"
The bill would give people a voucher for $3,500 to $4,500 if they turn in their old car or truck for new fuel efficient model built in North America. On paper it sounds good. In reality, the number of people who may actually benefit from this program could be extremely limited.
Russia proposed a new world reserve currency that would be issued by international financial institutions to reduce reliance on the U.S. dollar. However, Liam Halligan, chief economist at Prosperity Capital Management said the west does not need to be scared, but should learn to “cohabitate” and share the prosperity around the globe.
Stocks logged their worst day in a month on Monday as a key manufacturing gauge came in weaker than expected and the dollar made a comeback. Treasury Secretary Timothy Geithner said the financial system was beginning to thaw but the recovery would be slower than usual and unemployment would likely keep rising. Read and listen to what the experts had to say…
Stocks opened lower on Monday after a key manufacturing barometer showed factories continue to suffer in the slumping economy. And IMF chief Dominique Strauss-Kahn said that the worst may be yet to come for the global economic crisis. Read and listen to what the experts had to say…
The factory sector in New York state shrank at a worse rate in June than during May, the New York Federal Reserve said in a report on Monday. And the head of the IMF warned that the global economic recession may get even worse. What does it mean for the stock market? Art Cashin, head of floor operations at UBS, offered CNBC his insights Monday.
Ford CEO Alan Mulally has been saying it ever since he took over the blue oval. Ford Chairman Bill Ford Jr. has been backing the idea for just as long. Now we'll see if the company that got a lot of Americans hooked on SUVs (and made billions of dollars in the process) can be successful with fuel efficient cars and crossovers.
Although GM and Chrysler’s bankruptcy may be playing into Ford Motor’s strong June numbers, "it’s really our products that are getting the best reviews they’ve ever gotten," said William Ford, executive chairman of Ford Motor in a live interview on CNBC.
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Although the Dow closed at its highest level since January 6th, Tony Dwyer, equity market strategist with FTN Equity Capital Markets, isn't convinced a recovery is imminent. But for David Kelly, chief market strategist with JPMorgan Funds, it's a sign the "economic fog" is starting to clear.
This one is for Wally Griffith. Wally was the executive producer of the "Saving GM" and "Saving GM: Inside the Crisis" documentaries. He would ask the same question time and again: Why does GM own Saab?
The automobile sector broke out of its downward trend this spring, according to Royce Tostrams, technical analyst at Tostrams Groep.
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After stocks took a quick dip following the latest Treasury auction, markets resumed their ascent on Thursday. At first glance, the auction results sent investors out of stocks and into the relative safety of bonds; but after further consideration, they jumped back into stocks. Read and listen to what the pros had to say…
Ford will likely trade more of its debt for equity, and sell more common stock, so it can improve its balance sheet until the company can become profitable in 2011, said CEO, Alan Mulally on Thursday.
Foreclosure filings in May dropped 6 percent from April — but were still up 18 percent from May 2008. Meanwhile, sales at U.S. retailers rose in May and initial jobless claims fell for a fourth straight week. Art Cashin, UBS Financial Services director of floor operations, offered CNBC his market insights.
When the federal General Services Administration announced this week that it had spent $287 million in stimulus money to buy 17,205 new cars, it turned out that the biggest beneficiary was the Ford Motor Company.
Stocks opened slightly higher on Thursday after reports showed jobless claims fell by 24,000 last week to 601,000 and retail sales ticked higher in May. Bond yields will also be in focus today as the results of the government's 30-year Treasury auction are due out at 1pm ET. Experts weighed in on the above and more. Read and listen to what they had to say…