Even in Pleasantville, the news gets bleaker by the quarter. Back in the fall, the Reader's Digest Association, the publishing and direct-marketing behemoth based in the Westchester County hamlet, posted an operating loss of $337 million for fiscal 2008.
Saab Automobile may be just another crisis-ridden car company in an industry full of them. But just as the fortunes of Flint, Mich., are permanently entangled with General Motors, so it is impossible to find anyone in this city in southwest Sweden who is not somehow connected to Saab.
Stocks shot out of the gate Monday as investors cheered details of the government plan to mop up toxic assets from banks' balance sheets and after a better-than-expected housing report.
Talk about a strange juxtaposition. On the same day Rolls Royce is bringing its new "Baby Rolls" to New York, the world's least expensive, "mass market" car is rolling out in India. The Tata Nano and Rolls Royce 200 EX. One will cost roughly $2,500, the other will be at least 100 times more expensive.
US stock index futures pointed to a higher open for Wall Street Monday as investors were eager for details of a plan to buy toxic assets by the government.
GM bondholders sent a letter to Treasury Secretary Timothy Geithner and the leaders of the auto task force Sunday expressing frustration that they have received no response from either GM or the auto task force regarding their suggestions for a near $28 billion debt exchange.
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We’ve gamed the rivalries in the financials, energy and retail – but this time it’s the automakers that have our traders’ pulses racing!
Life in limbo is costing GM and Chrysler. New numbers show the residual values of GM and Chrysler cars have taken a hit. Meanwhile, another survey of car buyers shows a sizable drop in the percentage of buyers who are considering buying a GM or Chrysler.
With the government making big investments these days in Treasuries, banks and the auto industry, should you trade in the wake of the biggest whale of them all?
Stocks slid in the final hour of trading Thursday as investors were initially encouraged by efforts by Citigroup to boost capital but started cashing in some profits, particularly in sectors that have seen big runups like financials.
The auto industry generates nothing these days that even remotely resembles good news. Of course, no matter how bad the industry gets, there's always shelter in the storm, a shining light in the midst of the malignant gloom: the coolest car company in the world, Porsche.
British luxury carmaker Jaguar surged to the top of J.D. Power and Associates' closely watched vehicle dependability study this year, tying Buick for the No. 1 spot and dethroning Lexus for the first time since the Japanese luxury brand has been a part of the survey.
People are more likely to trust their financial company if they advertise; they trust their bank or investment firm less if they don't.
The announcement by the Treasury Department that it will provide up to $5 Billion in federal aid is the next move by President Obama's auto task force to help the auto industry avoid a collapse.
The markets surged on Wednesday following the Fed's announcement that it would buy up to $300 billion in longer-term debt. At the session high shortly after the Fed's announcement, the S&P 500 climbed back above the 800 level for the first time since February 17. The index, however, still hasn't closed above 800 since February 13. Nevertheless, by crossing the 800 mark during the day yesterday, the S&P had officially moved up over 20% from its March 6 low of 666.79.
What a difference a week makes. The combination of a market bounce, favorable news from GM, and reports of Ford planning to offer a $2.95 Billion in TALF-related bonds have sent shares of Ford and GM surging in the last week.
The Federal Reserve fueled the rally on Wall Street Wednesday after the central bank announced a plan to buy U.S. debt.
Congress is once again kicking around the idea of giving people an incentive to trade in their old car or truck for a newer, more fuel efficient model. It's an idea that has sparked demand for new cars in other countries around the world. And frankly, it is one of the few incentive programs that is a win/win situation.
Stocks opened lower Wednesday, retracing the previous session's rally, as investors were jittery ahead of the AIG CEO's appearance on Capitol Hill today and the Federal Reserve's statement after a two-day meeting.