Did anyone notice how grumpy all the financial CEOs looked after meeting with President Obama last Friday? The meeting must have been quite unpleasant as the Obama administration is informing these private sector giants that they need to change the way they are running their business.
Late evening reports that President Obama has concluded bankruptcy for GM is the most likely course of action (apparently leaked by Congressional members) was no surprise to most traders in GM and analysts, who had come to that conclusion on Monday.
US stock index futures pointed to a lower open for Wall Street after economic news showed steepening pressure in the jobs market.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
Eric writes, “Jeff, in the past you have liked Toyota. Are you even more bullish on them now given the latest GM news?
Following are the day’s biggest winners and losers. Find out why shares of Amylin and BHP Billiton popped while General Motors and Advanced Micro Devices dropped.
Stocks closed out a tough quarter on a positive note, helped by gains in technology and big banks.
Here's a transcript of my interview with Sen. Bob Corker (R-Tenn) concerning Team Obama’s ousting of GM CEO Rick Wagoner. Mr. Corker is a key member of the Senate Banking Committee and assumed the lead role for Republicans during negotiations to aid the ailing U.S. auto industry back in December...
More companies like Ford, GM and JetBlue are throwing a lifeline to laid off customers with refunds or payment protection.
Sales of Hummers over all have fallen so far — 51 percent last year, the worst drop in the industry — that General Motors is trying to find a buyer for the brand.
Housing and autos are in the news, but how's business? Answer: the bottom is still murky.
Tuesday: Consumer confidence squeaked above its record low. Ford announced an incentive program -- covering payments if a buyer is laid off -- similar to Hyundai's. GM's new CEO Fritz henderson said bankruptcy is possible within 60 days. J.P. Morgan said global banks will write down $17 billion more. CNBC heard from experts who said retail looks less scary, housing is finally coming back — but warned that inflation could be "kryptonite" for bonds.
It seems the tough talk from President Obama's has sparked the car makers into action.
General Motors's new CEO, Fritz Henderson, said the automaker could file for bankruptcy before the end of the 60 days the government has given GM to restructure itself.
Meet the people who now hold Detroit's fate in their hands.
The depth of the recession and the use of taxpayer dollars to bail out companies have made it politically acceptable for overseers to tinker with employment agreements.
With members of President Obama's Auto Task Force hitting the ground in Detroit, the re-structuring of General Motors kicks into gear. Monday in Washington may have been all about justifying and selling the government calling the shots at GM, but Tuesday in Detroit is when the president's people get to work. No wonder critics are now saying GM now stands for Government Motors, not General Motors. So what happens next?
US stock index futures pointed to a higher open Tuesday, following a sharp decline in the previous session as investors digested the Obama administration’s tough stance on General Motors and Chrysler.
Japan announced that they will unveil another stimulus plan. Isn't this the third one for this downturn? I've lost track. ... Ford announces incentive program; Street believes GM is next. This is similar to the successful Hyundai Assurance Program. Lennar reported a loss. HSBC up 5% in pre-market trading as CEO Michael Geoghegan reiterated that the London-based bank will not need any government money.
As we enter the last trading day of the month and quarter, here are some of the best and worst performers for the period.