You cover enough bankruptcies, you get used to the strange and painful routine. Closing the plants, targeting the jobs to be cut, and outlining how a company in Chapter 11 will be filed in court papers and pretty clear from the beginning. In other words, the cutting and paring of costs is the easy part. It's the re-building and changing of the company that is the tough part.
Over the last two weeks one of the more intriguing (and downright scary to some people) suggestions is the idea of the auto task force killing the Chrysler brand. I'm not talking about the Chrysler corporation, but simply the Chrysler brand. Three months ago that idea would have been roundly dismissed as "crazy talk", not anymore.
Bailouts, bonuses and bad business behavior all combined to erode the overall reputation of corporate America to its worst standing in 10 years, according to a new survey by Harris Interactive.
GM CEO Fritz Henderson is a straight shooter. It's one of the things about him that I like. That said, how many of us believe the man when he says GMs latest restructuring plan is the final "fix" for the auto maker? Count me among those who are skeptical.
Now that GM is putting Pontiac out to pasture, planning to cut another 6 production plants in the U.S., and squeeze out hundreds of dealers, I am hard pressed to see how GM remains #1 in U.S. sales.
After eight decades the Pontiac brand is about to die or be sold by GM. The auto maker will announce the end of the iconic American brand early next week. Pontiac is the latest casualty of the radical down-sizing of General Motors.
Seldom has a loss of almost $2 Billion ever looked so good. Then again, when you are Ford and you continually turn in better than expected results, losing a couple billion is further proof business is turning around.
With one week left before Chrysler faces the very real prospect of filing for Chapter 11 reorganization, and potentially a Chapter 7 liquidation, GM is acting like a company already in bankruptcy. In other words, the end game is almost here. As we're seeing now, it's messy and everyone involved will be feeling the pain.
Stocks rebounded from a morning slide and were trading modestly higher around lunchtime Wednesday, despite a wider than expected loss from Morgan Stanley...
Happy Earth Day everyone! On this day designed to inspire awareness and and appreciation of the environment, we decided to give you a feel for how green (or not) your neighborhood might be.
In recessions investors tend to return to safe havens like government bonds, the US dollar, gold and consumer staple and drug stocks and cash flows out of what are considered more discretionary sectors.
For Chrysler President Jim Press, trying to convince people his company is not going bankrupt is an uphill battle.
When I was first asked to moderate a question and answer session with California Governor Arnold Schwarzenegger, I immediately thought, "What a delicious opportunity to talk to a man who has told Detroit to 'get off its butt' and start building the next generation of cars and trucks people want."
My post about car shopping touched a nerve — my inbox was flooded. Of course, this was one couple's experience, so we asked readers to share their experiences and thoughts on the post. Here's what they had to say.
Today on the company conference call updating its restructuring, I asked GM CEO Fritz Henderson is the company will go beyond the number of plants it laid out for closure when updating the Federal Government on February 17th.
Chrysler Chief Executive Robert Nardelli says the U.S. government and Fiat will appoint a new board of directors if Chrysler joins forces with the Italian automaker.
When General Motors, Ford and Chrysler trooped to Washington with hats in hand, looking to be bailed out, the writing was on the wall for major restructuring and cost cutting to take place.
Nissan Motors CEO Carlos Ghosn said the company has the technology and the ability to produce cars that are going to be zero emissions by 2010 but also cost-friendly.
For as long as I've been covering GM, I've heard the same thing over and over, "We are cutting dealerships and will get down to a core group that will be more profitable." Rick Wagoner said it when he took as CEO in 2000. Fritz Henderson is saying it as CEO in 2009.
Don’t believe the hype that all you have to do is walk into a U.S. car dealership and they’ll practically pay you to walk out with the car.