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The current problems facing the automotive industry are a result of consumer fear, not the Big Three U.S. automakers, according to John Bergstrom, CEO of Bergstrom Automotive, one of America’s most powerful car dealership groups.
Chrysler's plan may be the most troubling, largely because it shows how much money the company needs right away. Chrysler wants $7 Billion by the end of the year. Chrysler's plan also talks about the "synergies" that would be derived from Chrysler being consolidated with another auto maker.
Stocks were set to give back some of their sharp gains from Tuesday's session but were off their morning lows after data showed a sharp increase in mortgage applications last week.
Take it from the traders who've been in the trenches this year, it's war out there!
Stocks snapped back on Tuesday after global bellwether General Electric lifted investor optimism by pledging to leave its dividend intact.
U.S. light vehicle sales at General Motors and Chrysler plunged more than 40 percent in November, while Ford's sales dropped 31 percent, battered by an economic storm that has sent consumer demand for new vehicles to lows not seen in decades.
Stocks rallied Tuesday as investors scooped up bargains and were encouraged by news that General Electric will keep its dividend intact.
I have noted the weeping and gnashing of teeth that accompanied yesterday's downturn, and the widespread belief that we have not yet put in a convincing bottom.
Stocks rose sharply Tuesday as investors scooped up beaten-down stocks after the prior session's selloff that saw the Dow give back 700 points.
A number of small companies are angling for a piece of a $25 billion auto industry loan program, set up by the Department of Energy to quicken the development of fuel-efficient cars.
The Big Three will become two, Detroit will need more help from the government, SUVs will enjoy a modest rebound and electric cars will fire up the industry.
Stocks opened higher Tuesday, clawing back some of what they lost Monday, when the Dow shed nearly 700 points.
This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.
The latest job cuts in the banking sector come amid an overall wave of layoffs across the United States as companies move to cut costs in the face of slackening demand and a general economic downturn.
General Electric announced that it will maintain its dividend for 2009, giving it an 8.6% yield, based on yesterday's close. See how this compares to the other 29 companies in the Dow.
One thing's for sure: November vehicle sales due today will be ugly. Estimates are for seasonally adjusted annual sales of about 10.5 million, compared to 16 million in November of last year.
Today is the day we see in clear detail how bad things are for Detroit's auto maker, and what they plan to do to fix the mess. It's a mix of bad news and hopeful promises.
For the Big Three automakers to win over Washington lawmakers in their bid for federal aid, they will have to address a critical question in the business plans they give to Congress on Tuesday.
Washington’s been a lot harder on Wall Street than you might think. Here’s why the Citi rescue is a signal to buy.
Tuesday’s deadline looms large for the Big 3 automakers. Is this the moment of reckoning?