Search results for Chrysler
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Posted
Aug 29 2008, 11:38 AM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
Marvell had put in a very strong quarter and guided essentially inline, (slight miss on revenues and slight beat on EPS). I've predicted the upcoming quarter this way: "I think [it] will be a beat and conservative guide in-line."
That is exactly what we got. It's just too hard for nearly any company of MRVL's size (in the semi space) to take a chance and raise numbers currently if you have a diversified mix of products and sell into multiple industries. Plus, it's too early (in the quarter) and unless your in the solar space, the compression of demand is just enough to cause concern.
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Posted
Mar 23 2009, 03:55 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
Ford (F) is in the best financial health of The Big Three. Its position could improve more, at least temporarily, if its deals to cut debt and reset its contract with the United Auto Workers work well.
But, the No. 2 U.S. car company still faces the fact that Americans aren't buying new cars. Sales for some auto companies are off more than 40%. Total domestic vehicle sales could be only 10 million this year, down from 16 million three years ago.
Ford may find an investor other than the U.S. government, if it needs one as the year moves along. According to the Financial Times, Abu Dhabi-based Aabar Investments will spend $2.7 billion for a 9.1% stake in Daimler, becoming its largest shareholder "as the company battles against the worst industry crisis in decades."
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Posted
Mar 26 2009, 02:51 AM
by
Bernhard Warner and Matthew Yeomans
Rating:
Money Blog: Top Stocks Blog - MSN Money
This post comes from The Big Money.
Apres le deluge of economic ruin, along come new regulations to make sure it never happens again. Treasury Secretary Timothy Geithner will propose a sweeping set of new rules today as he seeks to install greater oversight on risk-taking in financial markets, "pushing for tougher rules on how big companies manage their finances as well as tighter controls on some hedge funds and money-market mutual funds," writes the Wall Street Journal. On the heels of giving more power to the Federal Deposit Insurance Corp., Geithner is expected to advocate a new raft of regulations for large financial firms -- including forcing them to hold more capital reserves -- and handing more power to the Treasury to monitor emerging economic risks. The Treasury plan (subject to congressional approval) would give the government "vast new powers over 'systemically important' banks and other financial institutions that are so big that their collapse would jeopardize the economy as a whole," writes the New York Times.
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Posted
Mar 26 2009, 11:07 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Thousands of General Motors (GM) workers have agreed to leave the company, taking $20,000 cash and a $25,000 vehicle voucher as a buyout.
GM won't replace all 7,500 employees who are leaving. But it will start hiring new workers at the union-negotiated wage of $14 per hour. That's about half the salary of current assembly line workers, and will significantly help GM's quest to return to profitability. Investors are rewarding the cost-cutting efforts, sending GM shares up 14% in midday trading. With the newest departures, GM will have cut 60,500 jobs over the last three years.
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Posted
Mar 29 2009, 09:31 PM
by
Charley Blaine
Rating:
Money Blog: Top Stocks Blog - MSN Money
Stocks in Asia were falling on Monday and U.S. stock futures suggested an ugly open in the wake of dramatic White House moves to force major restructuring of General Motors and Chrysler Group.
Futures based on the Dow Jones Industrial Average were off 125 points, or 1.6%. S&P 500 futures were down 19 points, or 2%, and Nasdaq-100 Index futures slumped 24 points, or 1.9%.
Japan's Nikkei 225 Index fell 391 points, or 4.5%, to 8,236. Hong Kong's Hang Seng Index, fell 4.8%, to 13,443. Britain's FTSE-100 Index opened down 1.5% to 3,840, and Germany's Dax Index was off 1.9% to 4,123.
The Dow had closed Friday at 7,776, with the S&P 500 down 17 points to 816 and the Nasdaq off 42 points to 1,545. The markets had enjoyed their third straight week of gains. The Dow, in fact, had its best three-week gain since September 1982, as the great bull market of the 1980s was just starting.
The Obama Administration told Rick Wagoner to resign as GM's CEO. It wants a new restructuring plan in 60 days and was prepared to provide working capital during that time. The company, the administration's auto task force said, has made considerable progress in developing new energy-efficient cars. It may survive if it can cut costs sharply.
But the administration reportedly told Chrysler to cut a deal with Italy's Fiat in 30 days or die. Literally.
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Posted
Mar 30 2009, 03:46 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
The U.S. car companies still have an ace in the hole. The Obama administration cannot take Chrysler and GM into bankruptcy without the probability that it will severely undermine stimulus plans meant to save or create 3.5 million jobs over the next year and a half to two years.
There is a range of numbers about how many people would become unemployed if the two car companies go into a structured Chapter 11, or worse, a Chapter 7 liquidation.
At GM and Chrysler alone, nearly 200,000 jobs are at risk. If the bankruptcies ripple out to suppliers in the event that a judge voids some of their receivables, another several thousand jobs could be at stake. Then there are several amorphous estimates about people who work in fields related to the car companies. That could be industries as diverse as restaurants in Detroit and airlines that fly there. It is probably safe to say that close to a million jobs are in jeopardy if the two car companies lose their independence.
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Posted
Apr 07 2009, 10:44 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Should a company in "intense" preparations for bankruptcy really be spending any money on frivolous projects? General Motors (GM) is hanging by a thread, and should be pinching every penny.
So in the middle of all this, GM announces it's developing a two-wheeled electric car? What incredibly bad timing -- and planning. Maybe the company wanted to take attention away from its financial troubles. But I'm sure some people watching GM's announcement on the "Today" show wondered just how many jobs could be saved instead with that money.
GM and Segway are developing the two-seater car, which, in its test form, weighs just 300 pounds and runs on a lithium-ion battery, according to The Associated Press. And get this: the cars, which won't go more than 35 mph, aren't supposed to crash because they automatically avoid cars and other objects. Seatbelts aren't even necessary.
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Posted
Apr 09 2009, 10:54 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Two advocacy groups are demanding a boycott of JPMorgan Chase (JPM) this week, upset that the bank isn't doing more to help Chrysler reduce its debt. JPMorgan is Chrysler's largest debtholder, with about $2.5 billion, the Financial Times reports.
JPMorgan has received $25 billion in government rescue aid. So, the thinking goes, couldn't the bank forgive some of Chrysler's debt and help the automaker stay afloat?
So far, JPMorgan and other banks are saying no. They rejected a request from the Treasury to turn $6 billion of the $7 billion Chrysler owes them into stock, and the remaining $1 billion into new debt, according to BusinessWeek.
Here's Chrysler's most immediate problem:
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Posted
Apr 14 2009, 04:01 AM
by
Douglas McIntyre
Rating:
Money Blog: Top Stocks Blog - MSN Money
General Motors’ (GM) stock trades at about $1.85, which is not even its 52-week low. The Treasury has asked the No.1 U.S. car company to prepare for Chapter 11. The government will probably try to have GM broken into two. In that case, most creditors may be stuck holding paper in the weaker operation, which will be made of brands like Saturn and Hummer which have no economic value at all. If that tactic works, the money GM owes financial firms could end up being next to nothing.
But, GM may still make it as a public company because a bankruptcy could be too messy for the Administration’s tastes. According to The Wall Street Journal, some GM bondholders are preparing arguments against the automaker’s bankruptcy plan. The creditors may lose their attempt to get a better deal than being given debt in a company which holds the worst part of the GM asset base, but they can make the process prolonged and painful for the company and the Treasury.
Creditors aren't the government’s biggest problem with GM,
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Posted
Apr 21 2009, 11:15 AM
by
Kim Peterson
Money Blog: Top Stocks Blog - MSN Money
 Bob Nardelli (pictured) may be headed for the exit -- again.
He left General Electric (GE) after getting passed over for the chief executive position. He left Home Depot (HD) after a controversial run -- and a monstrous exit package -- that shareholders still grumble over. And now, it looks like he's on the way out at Chrysler. Nardelli told employees recently that he and Chrysler's board will probably be replaced after the company ties up with Fiat or heads to bankruptcy or some other reorganization. Nardelli started at Chrysler on a grand note, the golden boy hand-picked by Cerberus Capital Management to revive the company's fortunes.
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