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Cato-at-liberty (Free subscription) | yesterday
In the Obama era, the slippery slope has gone vertical. Instead of “eventually,” the feared extensions of government power come immediately. When President Obama decided to convert George W. Bush’s bailout of General Motors Corp. and Chrysler L.L.C. into effective government ownership, critics warned that this could lead to political intrusion into the management of...
iStockAnalyst.com (Free subscription) | 06/11/2009
Back in May I recommended that readers should buy shares in Ford Motor Co. (NYSE: F) on the grounds that the U.S. carmaker would gain market share from the bankrupt General Motors Corp. (OTC: MTLQQ) and Chrysler Group LLC. Ford’s third-quarter profit and healthy October sales growth show I called that one right. One doesn’t like to blow one’s own trumpet excessively,...
Chicago Tribune (Free subscription) | 06/11/2009
A former General Motors Corp. executive who was a fugitive abroad for more than a year returned to the United States Wednesday and pleaded guilty Thursday to federal charges relating to an $80 million kickback and fraud scheme involving GM's sale of bulk aluminum to third parties, federal authorities said.
Gasgoo.com (Free subscription) | 04/11/2009
China's biggest domestic auto maker SAIC Motor Corp. Ltd expects to reach an agreement on cooperating with General Motors Corp. in India by year-end as it seeks to boost sales overseas. Talks are still going on, chairman Hu Maoyuan said on Tuesday in Beijing.
WWD (Free subscription) | 06/11/2009
... in U.S. history after Lehman Brothers Holdings Inc., Washington Mutual Inc., WorldCom Inc. and General Motors Corp. According to the petition, the company listed $71 billion in assets and $64.9 billion in debts. One big loser is expected to be the U.S. government, which provided the lender to small- and middle-market firms $2.3 million under its Troubled Asset Relief Program in exchange...
Women's Wear Daily (Free subscription) | 06/11/2009
... in U.S. history after Lehman Brothers Holdings Inc., Washington Mutual Inc., WorldCom Inc. and General Motors Corp. According to the petition, the company listed $71 billion in assets and $64.9 billion in debts. One big loser is expected to be the U.S. government, which provided the lender to small- and middle-market firms $2.3 million under its Troubled Asset Relief Program in exchange...
Computer World (Free subscription) | 05/11/2009
New General Motors CIO Terry Kline looks to continue the progressive IT ways of predecessor Ralph Szygenda by adopting the consumer technologies used by new car buyers as well as cloud computing techniques and "PCs on a stick."
The Swine Line (Free subscription) | 04/11/2009
The Wall Street Journal had two good articles this week illustrating the pitfalls of having the government as a major stockholder or outright owner of a private business. The first story dealt with the byzantine actvities surrounding the financial survival of GMAC, General Motors’ former financing arm, which is into TARP for about $12.5 billion dollars. On the one hand, it [...]
WAAY - WAAY News and Home (Free subscription) | 04/11/2009
Associated Press - November 3, 2009 5:15 PM ET FRANKLIN, Tenn. (AP) - Tennessee Gov. Phil Bredesen says the state is preparing for an increase in unemployment claims once the General Motors...
Law Blog - WSJ.com (Free subscription) | 05/11/2009
MOSCOW -- General Motors Corp.'s decision to retain its European unit is "genuinely surprising," and the spurned bidders, Canada's Magna International Inc. and Russian state-controlled OAO Sberbank, will scrutinize the legal basis for the pullout, said Dmitry Peskov, a spokesman for Russian Prime Minister Vladimir Putin.
Law Blog - WSJ.com (Free subscription) | 04/11/2009
Toyota, the world's biggest car maker by sales, is expected on Thursday to report a net loss for the quarter ended Sept. 30. It has said it expects a pretax loss for the full fiscal year through March of about 700 billion yen ($7.75 billion). The company recently announced plans to shutter an unprofitable California assembly plant it owned jointly with the former General Motors Corp.,...
Wash Park Prophet (Free subscription) | 02/11/2009
It should be a dog bites man story. Ford Motor Company, an investor owned public company, didn't go bankrupt, didn't get a government bailout, and made a profit in the third quarter of 2009 . It hasn't made a profit in 2009 as a whole and doesn't expect to do so, but hopes to make a profit in 2010. General Motors Corp. and Chrysler LLC each received government bailouts followed by bankruptcy,...
The Washington Times (Free subscription) | 02/11/2009
Congressional overseers and many analysts are skeptical about the post-bailout prospects of success for General Motors Corp. and Chrysler Group LLC, and some say they will need to raise more cash as early as next year. Observers see little chance of another taxpayer bailout given the opposition to providing the automakers with $75 billion this spring and the administration's statements...
MSDN France (Free subscription) | 02/11/2009
... Scott, chief information officer for Microsoft, ran the IT departments of The Walt Disney Co. and General Motors Corp. before coming to Microsoft. Scott is the second Microsoft leader to be inducted. In 2007, CIO also named Chief Operating Officer Kevin Turner to its Hall of Fame. Scott also joins several of his mentors, including Ralph Szygenda, his former boss at General Motors...
NewsCommentary (Free subscription) | 02/11/2009
... with the United Auto Workers the agreement would've put Ford's labor costs in the same range as General Motors Corp. and Chrysler LLC. Workers disapproved of the clauses that would limit their rights to strike and freeze entry-level wages, they also feel the company doesn't need further concessions. Overall everyone was excited to see Ford's results, as one of the largest automakers...
