The WSJ has one of those “Duh” articles this evening that suggests that Ford may face tough going against two federally funded auto manufacturers. Ya think? I’ve written about this many times over the past month. Ford is probably a goner as well, either by dint of circumstance or because there truly is a plan […]
Posts Tagged ‘chrysler’
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Behind The Chrysler Negotiations: Intriguing Details
Posted by Tom Lindmark on June 5th, 2009
This from the WSJ is one of those kiss and tell sort of stories about the events surrounding the bankruptcy of Chrysler. It contains a lot of material that was gleaned from emails that are part of the court proceedings so it’s not rumor but the real deal. It doesn’t add a lot to anyone’s […]
Congress Embarks On Auto Company Management
Posted by Tom Lindmark on June 3rd, 2009
The micromanagement of GM and Chrysler by the government began in earnest today. In front of the Senate Commerce, Science and Transportation Committee the heads of the two auto makers were called to task for their treatment of dealers. From Politico.com here is a sample of the hands off Obama policy: “It’s a nationwide […]
Chrysler’s Creditors Get Another Day In Court
Posted by Tom Lindmark on June 2nd, 2009
It probably will amount to nothing but a federal court has agreed to hear an appeal by a group of aggrieved Chrysler creditors. Oral arguments are supposed to begin on Friday. Why does this matter? Because if the deal isn’t done by June 15, Fiat can walk. From the WSJ: The circuit court’s acceptance […]
Assessing The Auto Industry Wreck
Posted by Tom Lindmark on May 30th, 2009
Barring divine intervention come Monday, GM will be in bankruptcy and probably around the end of the summer will emerge as a new company owned for all intents and purposes by the U.S. government. Chrysler probably comes out of bankruptcy next week, also under government control. Given all of that, I thought it a good […]
Shocker: Politicians Playing Politics With Their New Car Companies
Posted by Tom Lindmark on May 28th, 2009
The latest conspiracy theory making its way around the Internet is that the Obama administration is punishing Republican leaning car dealerships. Specifically, those identified to be closed as the result of the reorganizations of Chrysler and GM tend to be aligned with the Republican party. Clusterstock has done a good job of covering the story […]
GMAC Sucks In More Federal Dollars
Posted by Tom Lindmark on May 20th, 2009
The black hole also known as the auto industry is about to suck in some more of your money. According to Reuters, the Treasury Department is ready to commit an additional $7.5 billion to GMAC. You may recall that the stress test indicated that GMAC needed an additional $11.5 billion, so this looks like the […]
