Automobile industry
Sergio Marchionne's relentless efforts to merge Fiat and Chrysler culminated in a deal announced on New Year's Day, giving Fiat full control of the No. 3 U.S. carmaker. The $4.35-billion USD agreement marks a "historic moment for both Fiat and Chrysler," as
Automobile industry
Sergio Marchionne's relentless pursuit of a deal to merge Fiat and Chrysler has finally yielded a full merger, creating a global force in the car industry. The deal, which allows Fiat to buy the remaining stake in Chrysler from the unions' Veba healthcare trust for $4.35bn,
Motors Liquidation Co.
With new-car sales in the United States at a historic low, the fortunes of the auto suppliers are dire. These small businesses, often family-owned, have been pillars of the industry, providing crucial components to the big three automakers-General Motors, Chrysler, and Ford. However, as the auto companies struggle to stay
Automobile industry
As the domestic auto industry faces unprecedented challenges, Senators gathered to discuss the devastating effects of dealership closures on loyal business owners and their communities. The hearing highlighted the critical need for a more transparent and equitable process to ensure a smooth transition for dealerships and consumers alike. Senators expressed
Automobile industry
General Motors, once a stalwart symbol of American industry, has filed for bankruptcy after years of struggling to compete with foreign automakers and adapt to changing market conditions. The company's woes were exacerbated by massive labor costs, fading consumer demand for gas-guzzling vehicles, and a failure to innovate
Motors Liquidation Co.
The bankruptcies of General Motors (GM) and Chrysler, two of the world's largest automakers, could have a devastating impact on the US workforce, with up to a quarter million people potentially losing their jobs over the next year and a half. As the companies reorganize and downsize, they
Automobile industry
In recent years, American drivers have shown a preference for buying new cars, fueled by home equity loans, easy credit, and cheap short-term lease deals. However, the market has collapsed by 46% to below 10 million in sales, leaving the industry to debate the new normal. Some believe sales will
Automobile industry
Frank Stronach's Magna International Inc. has reached a deal with the German government and General Motors (GM) to take a controlling stake in Opel AG, GM's main European subsidiary. The Austrian-born entrepreneur, who built a tiny tool and die shop into an auto parts powerhouse, will
Motors Liquidation Co.
Senator Richard Shelby (R-AL) expressed his disapproval of the government's bailout plan for General Motors, calling it a step towards "socialism." He stated that the company's bankruptcy would have been easier and less costly six months prior. Shelby also emphasized the importance of allowing
Motors Liquidation Co.
General Motors' expected bankruptcy filing, which will likely occur by June 1 as part of a restructuring orchestrated by the federal government, is expected to generate significant economic activity in Detroit. The case, one of the most complex in U.S. history, will involve thousands of lawyers, including those
Automobile industry
Taxpayers are unwittingly becoming shareholders of major corporations, including Chrysler and General Motors, as the government purchases shares on their behalf. This unprecedented move raises concerns about the Constitution, the role of government in the economy, and the threat to capitalism and property rights. The Obama administration's handling
Automobile industry
The latest news from the Analyst Blog has highlighted several key stories in the world of finance, including the potential bankruptcy of General Motors Corp. and the performance of various companies such as Evergreen Solar, Inc., AMAG Pharmaceuticals, Inc., and Micros Inc. The Zacks Equity Research team provides in-depth analysis
