Asian equities put up an upbeat performance on the final trading day of the week, following an inspiring U.S. lead overnight as investors cheered the Federal Reserve's pledge to be patient in increasing interest rates.» Read More
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.
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.
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?
I can already hear the groans from fans of micro cars and the chortling from those who think the public is nuts to be excited over sub-compact cars.
Within an hour of signing the papers officially creating a new Chrysler that is out of bankruptcy and in an alliance with Fiat, Marchionne sent an e-mail to Chrysler employees.
Forty days. In the world of corporate bankruptcies, I guess you could call that a quick rinse. Now that Chrysler's balance sheet has been cleaned up (thanks in large part to billions in Federal financing), the auto maker is primed for life with Fiat.
The road has been bumpy for automakers, but Hyundai is trying to navigate the potholes by revving up its quality, advertising and perception.
With the Supreme Court on the cusp of deciding whether to approve or block the sale of Chrysler, the restructuring of GM's board of directors is a story that may be overlooked. That would be a mistake. The new GM board faces one of the largest challenges ever in American business.
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.
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.
Renewed strength in the dollar caused the oil market to retreat on Wednesday — and analysts say oil investors should continue watching the currency’s movement as an indicator on Thursday.
We see an inflation 3 to 5 years down the road and investors should stay relatively close to the front end of the yield curve where the bond prices are protected by the Fed position of low Fed funds and interest rates, said Bill Gross, co-CIO and founder of Pimco.
In an opening statement before questioning GM CEO Fritz Henderson and Chrysler President Jim Press, Sen. Haynes said, "The deal is done." It was a painfully succinct summary of why thousands of auto dealers upset about losing their affiliations with GM and Chrysler are unlikely to find relief in Washington.
Top executives of bankrupt General Motors and Chrysler defended slashing their dealer networks, telling Congress on Wednesday that eliminating more than 2,300 dealerships was crucial to saving the companies.
Today on Capitol Hill, the Senate Commerce Committee will question GM CEO Fritz Henderson and Chrysler President Jim Press about their moves to close roughly 2000 dealerships. For all the importance that comes with a Congressional hearing, don't expect much to change after this one.
Less than a year ago we weren’t sure if we’d be saved or sucked in. Here’s your update.
As General Motors prepares to celebrate its 100th anniversary and faces possible bankruptcy, here are some key events in the giant automaker's history:
Considering the Dow soared by triple digits after GM declared bankruptcy, traders want to know if this is the bottom for the US economy?
General Motors filed for Chapter 11 bankruptcy protection Monday and all eyes are on the U.S. government's 60 percent equity stake in the auto maker. What does this bode for the stock market? Art Cashin, UBS Financial Services director of floor operations, offered CNBC his insights.