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rffrydr
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rffrydr
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 Posted: Thu Nov 13, 2008 7:29 pm Post subject: |
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The "Big Three" now have their own ticker bar on CNBC. At least now we know the story comes to a head.
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rffrydr
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| Posted: Wed Nov 12, 2008 12:27 pm Post subject: |
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Paulson puts nail in TARP (other than AIG backdoor) and rises to the consumer challenge.
http://www.bloomberg.com/apps/news?pid=20601068&sid=a44uLcFI7ubA&refer=home
Can't quite get why they can't paperover the legal nicities on GMAC bank status--that is one place where the money will flow. But I suppose there are standards....
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rffrydr
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| Posted: Wed Nov 12, 2008 8:55 am Post subject: |
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The draconian firings and product scalebacks are music to (late) bondholders' ears. Looking for 5billion by Feb. It's not summer anymore Deutschebank.
I suspect however GM is now Naci Pelosi's "Redemption" project: it will put her in the leadership contra Bush now and make up for the damaging house down vote that's been laid at her feet. The focus should be on punishing the Management not the shareholder--this definitely has room to surprise however.
In other news GM won't host LA carshow; will increas china partnership. China cuts VAT on steel; say hello to $300 flatroll. Oil breaks $60, some parts filling up $1.75: The V8 fleet is no zombie.
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rffrydr
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rffrydr
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HenryTo
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| Posted: Mon Nov 10, 2008 8:52 am Post subject: |
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| Pumping federal funds into GM, GMAC, Ford, Ford Motor Credit, and Chrysler Financial will be the most effective way to get things rolling again in the auto financing market. |
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rffrydr
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rffrydr
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HenryTo
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| Posted: Sat Nov 08, 2008 12:54 pm Post subject: |
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GM is following up with this little tidbit. I second that - not only will Eastern European sales stagnate, it is going to go down the cliff. The IMF will make sure of that.
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Eastern European car boom is probably over - GM
Sat Nov 8, 2008 10:22am EST
FRANKFURT, Nov 8 (Reuters) - A downturn in car demand will probably spill over into eastern Europe, which has been a stronger growth area than western Europe, GM Europe (GM.N: Quote, Profile, Research, Stock Buzz) President Carl-Peter Forster said in a trade press interview.
"This area used to be a growth area, but not any more," Forster said in extracts of an interview which will run in full on Nov. 10 in Automotive News Europe. "I would not expect them to be able to decouple themselves from a more difficult situation in Europe."
The publication said a slowdown was expected in eastern Europe next year due to the tightening of credit, collapsing consumer confidence and higher used car imports from western Europe.
Europe had so far provided a silver lining for many leading U.S. auto suppliers. But the slump in sales that started in the United States is spreading to other key markets as the global credit crunch rocks consumer confidence. |
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rffrydr
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| Posted: Sat Nov 08, 2008 8:56 am Post subject: |
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The Madman with some sane words:
| Quote: | Saving GM Is Cheaper in the Long Run
By Jim Cramer
RealMoney Columnist
11/7/2008 3:26 PM EST
So people think that GM (GM - commentary - Cramer's Take) can be left to go bankrupt now that it would most likely run out of money later this year? Do you think that it doesn't matter because they made bad cars? You think it isn't important because the market cap is now below $3 billion?
To that I say there are billions and billions of bonds and preferreds out there that would be crushed, and that would annihilate so many accounts and portfolios that the reverberations would be dreadful. You might have just as much financial pain but a monster amount of employment pain that would most surely put the Great Depression back on the agenda.
The solution is simple -- a recapitalization that allows GM to have the capital to continue to go be run as a going concern. A GM bankruptcy would force a jobs creation program that would cost 10 times what it would cost to invest in this company.
In the meantime, we can very easily demand some concessions for the money about what kinds of cars they have to make -- including natural-gas cars -- that would make this company part of the army of economic independence that is so necessary for a strong America. |
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rffrydr
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| Posted: Fri Nov 07, 2008 7:13 pm Post subject: |
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Getting interesting but still off SP BK announcement lows two weeks back:oops:
I'm still going with game theory and year without the necessity of accessing the CP market. Treasurer says 4th quarter more like 3billion and I maintain there is plenty of upside surprise here. Most of the falloff directly tied to financing at 700+ score. Obama voiced support a short while ago and these autos could be a good template for bi-partisan transitionary politics--maybe with McCain spearheading.....
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HenryTo
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rffrydr
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rffrydr
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| Posted: Thu Nov 06, 2008 3:31 pm Post subject: |
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Toyota gets real. No-one counted on this kind of 90- Y/dollar "competition" when they wrote America off.
| Quote: | Toyota slashes profit forecast
Published: November 6 2008 09:44 | Last updated: November 6 2008 16:23
Talk of sticker shock. Toyota Motor Corp expects full-year operating profits to plunge to $6bn, almost 75 per cent down from the previous year. That is half the amount made in the first six months of last year and implies that the world’s number two automaker will make a barely-worth-getting-out-of-bed-for $1m a day in the current half. Investors, of course, are used to disappointments from carmakers. But Toyota is no debt-strapped Detroit manufacturer. It is a slick machine that has achieved operating margins of about 9 per cent in the past five years. This year that will come slamming down to 2.6 per cent.
Clearly, being good is no longer enough. Even Toyota cannot navigate current potholes: a strong yen and unwilling consumers. First-half net income, which has roughly halved from a year ago, illustrates the point. Slightly more than $3bn was devoured by increased spending on everything from outsourced IT to maintenance.
Foreign exchange fluctuations clipped off another $3bn, with the strong yen proving a double whammy. Toyota has ramped up overseas production, but more than half the 2.4m cars manufactured in Japan are shipped overseas. And euros and dollars earned overseas translate into fewer yen back home.
Like its fellow carmakers, Toyota may well find that the currency shock will only get worse. Toyota is assuming a rate of Y100/$1 and Y130/€1 in the second half; the yen was stronger than both those levels on Thursday. Year-on-year sales in the first half were only marginally lower but, with all the big markets decelerating, full-year sales are being marked down 12.5 per cent. Even China, by rights a growth market, is registering overall declining sales on a monthly basis. Strong exports to Russia will be tough to sustain. It is a damning indictment of the times that even Toyota is no longer a safe ride. |
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