Consumer Reports may be good for testing a blender or a toaster but when it comes to anything more complicated such as cars and computers, CR is about as trustworthy as a garbageman advising you on stocks.
Look at the educated automotive testing such as JD Power or Edmunds. In most of the Categories, GM and [...]
By Shawn Langlois, MarketWatch
Last Update: 12/16/2008 2:43:00 PM
SAN FRANCISCO (MarketWatch) - While the White House remained mostly mum about the
next chapter in the car bailout saga on Tuesday, Moody’s Investors Service said
there is a 70% chance the U.S. government will provide aid in prepackaged
bankruptcy scenario.
The credit ratings agency also put the probability of a federal [...]
With GM and Chrysler less than 19 days away from bankruptcy, and with the U.S. Senate rejecting automakers’ pleas for an emergency bailout, Treasury Secretary Paulson has just pledged he will not let them fail.
Here’s why no amount of money Paulson or anyone else throws at Detroit can save GM or Chrysler now.
Why massive deflationary [...]
WASHINGTON (AP) — The White House weighed its options Saturday for preventing a collapse of the troubled auto industry, once the backbone of the U.S. economy. So far, the only thing certain is that the Bush administration wants to avoid the possibility of a disorderly bankruptcy of any of the Big Three.
General Motors Corp. and [...]
Labor leaders in Detroit hailed the announcement by the administration.
“I think it’s great news, the responses we’ve been getting out of the White House and the Treasury,” said Ron Gettelfinger, the president of the United Automobile Workers union. “It’s important for the White House to exert their influence to release this money as quickly as [...]
WASHINGTON (AP) — With Congress gridlocked and the economy floundering, the Bush administration declared Friday it would step in to prevent the ”precipitous collapse” of the U.S. auto industry and the disastrous loss of hundreds of thousands of jobs sure to follow.
A day after the sudden demise of rescue legislation in Congress, carmakers were talking [...]
PARIS — Even as the bailout package for Detroit’s automakers remains a question, automakers in Europe and Asia are lining up for handouts.
“It’s a foregone conclusion that governments around the world are going to aid these companies,” Dennis DesRosiers, an independent auto analyst in Toronto, said. “It’s just a matter of working through the politics.”
In [...]
Investors were emboldened by remarks from federal officials who assured that they would not let the Detroit auto industry collapse, including comments from the White House that it would consider drawing on the $700 billion that Congress already approved for assistance to banks and financial institutions.
But some analysts have been saying that investors have priced [...]
Chinese may be backing away from Rothschild deal as starting to consider any deals with Western business as perceived as investing in the west right now is like catching a falling knife:
http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=a2hZdL5hcipQ
Deflation as Global economy falling off a cliff:
http://www.bloomberg.com/apps/news?pid=20601039&sid=ayWr6HwZq0FY&refer=columnist_gilbert
Bernanke against auto bailout:
“Bernanke, in a letter released yesterday, rejected the idea that the central bank should [...]
Just like TARP, those of us who thinks Congress will listen to the people are sadly mistaken. The sheeple were dumb enough to vote them in and they don’t give a rats what we think. What this report really tells you is how low the big 3 figures are! The report by the law firm [...]
A loan is not a bailout to a company with nearly $500B in assets. This would merely move any government loan to the top of the debt priority. It would be repaid in spades whether the company succeeds or not. With the restructuring moves GM has already made, any upswing in the economy moves them [...]
WASHINGTON (MarketWatch) — Congressional Democrats and the Bush administration agree that Detroit’s Big Three need and deserve federal help, but they don’t agree on how much money the automakers should be given, or where it will come from.
Given less than a week to reach an agreement, it’s possible nothing will be done until January at [...]
Let the market do it’s thing. Filing bankruptcy is the way to go, just like every other company. The airlines have done it and they are still operating. GM is no different. The unions won’t reopen their contracts, well guess what in bankruptcy court they have no choice.
Lets give a grossly unprofitable and incompetent and [...]
excerpt
The financial woes of U.S. automakers have grabbed Washington’s attention, but similar problems at auto suppliers have the potential to set off a cataclysmic chain of events in the industry if key parts makers run out of cash and fail.
As with the automakers, auto suppliers’ sales have tumbled this year because of the [...]
I fully expect california to be the first state to file for bankruptcy. the last filing with be the the aggregate of all the states aka UNCLE SAM
Because they have been too busy spending on a bunch of crap just like the average American. Instead of invesing in ifrastructure that will stimulate growth, they have [...]
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