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This is for all of you who e-mail and call me "Toyota Phil" and for those of you who think I favor the Japanese automaker and never write anything critical.
Over the last two weeks I've done several reports on TV and written in this blog about tighter credit hurting auto sales. For the industry, September sales dropped 27% and nearly everyone in the industry admits that a big reason for the plunge has been the deteriorating credit markets.
Stocks ended lower Wednesday amid concerns about strained credit markets and the economic slowdown. Banks rallied as investors were encouraged by progress on bailout talks on Capitol Hill. GE got a vote of confidence -- to the tune of $3 billion -- from Warren Buffett.
How bad is the auto business right now? Every automaker is feeling the pain, not just the Detroit 3. In the last week, showroom traffic (people simply visiting a dealership) is down 50% compared to the same time last year.
Stocks rebounded Tuesday amid hope that Congress will regroup and pass a bailout bill this week. Financials rallied and Apple, one of the hardest hit techs on Monday, gained 8 percent. Still,
All major U.S. Indices end the third quarter on a historic note. The Dow and S&P 500 had their fourth consecutive quarterly drop, tumbling 4.40% and 9.01% respectively. The NASDAQ Composite fell the most among the major Indices for the quarter, down 9.19%.
Whether or not you agree with Congress voting down the $700 billion bailout, one thing is clear, this is bad news for automakers and auto dealers.
With volatility continuing to soar, the Dow and S&P are on track for their biggest point losses ever.
It's been a rough twelve months. The Dow and S&P are looking to have their 4th straight quarter of declines, something not seen in years. Here is a preview of the quarter end stats and the winners and losers to date.
In a mood reminiscent of WaMu-JP Morgan, the FDIC says Citi is buying Wachovia's banking operations, and assume the senior and subordinated debt.
Call it the Prius Principle. Toyota's Prius was not the first hybrid, nor, you could argue, was it the best gas-electric car in terms of performance. Still, ask 90% of America about hybrids and Prius is the first thing they mention.
I want to keep you all up with the latest action in Washington regarding protecting your savings. I taped a recent appearance on the Oprah Winfrey Show on the morning of Thursday Sept. 18, right in the midst of much market turmoil. On the show I told you all that money market funds you buy through brokerages and mutual fund companies are not insured the same as money market accounts that you buy at an FDIC-insured bank.
General Motors Chief Executive Rick Wagoner on Thursday said September U.S. auto sales were running about flat from August as tight credit markets crimp demand.
By the end of this weekend, lawmakers in Washington are expected to approve $25 Billion in low interest federal loans.
Stocks got an early boost from Buffett's vote of confidence in Wall Street but the meandering hearings on the bailout sucked the air out of the trading floor. By the closing bell, financials had fallen and only techs were left carrying the torch of hope.
Chrysler CEO Bob Nardelli says tighter consumer credit is making it tougher to sell a car. Now the industry as a whole wants the federal government to take bad auto loans off the hands of auto finance companies.
Stocks fell more than 1 percent amid anxiety about the Wall Street bailout plan. Lowered analyst outlooks dragged on General Electric and bank stocks.
Ladies and gentleman, there's a new team entering the great race in the auto industry to build the first mass market electric vehicle: It's Chrysler.
Following are the day’s biggest winners and losers. Find out why shares of AIG and Petrobras popped while Kraft and General Motors dropped.
As I watched Yankee legends and their families take the field last night before the final game at the 85 year old House that Ruth Built, I was amazed again by how many winning years they have had. 26 World Series Championships in 85 years - the most wins of any professional sports franchise in history. Did the positive energy from the wins flow down the East River to Wall St. and lift the markets those years?