Transportation equipment industry
The Canadian Auto Workers union is prioritizing negotiations with Ford Motor and Chrysler, citing a dire financial situation at General Motors (GM) due to a potential bankruptcy by Delphi, its largest parts supplier. UAW president Buzz Hargrove has expressed concerns about GM's ability to make concessions, stating that
Transportation equipment industry
Gary Lessuise, a former Ford Motor Co. marketing executive, has taken the reins as an assistant dean of the UW-Madison School of Business master's degree programs. His recent appointment comes after years of leading recruitment efforts for Ford in Madison. Concurrently, Promega Corp. has announced a collaboration agreement
Transportation equipment industry
Moody's Investors Service has downgraded the debt ratings of General Motors Corp. and Ford Motor Co. to junk, citing their losses in North American operations this year. Meanwhile, Bank of America Corp. has found no evidence of profiting from slavery in its predecessor institutions' histories. Other corporate
Transportation equipment industry
The two largest automakers in the US, Ford Motor Co. and General Motors Corp., took a hit in post-market trading after Moody's Investors Service cut their debt ratings to junk status. Moody's cut Ford's senior unsecured debt to Ba1 from Baa3 and General Motors&
Transportation equipment industry
A new survey suggests that U.S. vehicle owners prioritize improving quality over short-term sales gains achieved through employee discounts. The American Customer Satisfaction Index revealed that Toyota Motor Corp. received the top score of 87 out of 100, followed by Honda Motor Co., BMW AG, and General Motors Corp.
Transportation equipment industry
Unicorp, Inc., a company engaged in the acquisition, development, exploration, and production of crude oil and natural gas, has secured a $10 million funding commitment from Cornell Capital Partners, LP. The Standby Equity Distribution Agreement commits Cornell to provide up to $10 million of funding to Unicorp over a 24-month
Transportation equipment industry
Peter Jennings' successor at ABC is still uncertain as the company waits and sees, while Robert S. Miller, CEO of auto parts supplier Delphi, warns of bankruptcy due to labor costs. Boston Scientific's Taxus stent has transformed the company into a cash-rich powerhouse, but it is heavily
Transportation equipment industry
Delphi, the world's second-largest listed car parts maker, is on the brink of collapse as it struggles to renegotiate a rescue deal with General Motors, its largest customer. The company's chairman and chief executive, Steve Miller, warned that bankruptcy protection may be the only option if
Transportation equipment industry
The Big Three U.S. automakers have extended their employee-price discount programs, citing strong sales numbers for July. General Motors, Ford, and Chrysler reported combined sales that rose 26.5% in July, despite modest car sales increases of 4.2%. Truck demand surged 36.7%, leading to record-breaking sales for
Transportation equipment industry
US auto manufacturers, plagued by dismal sales and profit margins, recorded a remarkable increase in July, thanks to aggressive discount programs that cleared out large inventories of 2005 models. Ford, Chrysler, and GM collectively sold over 20.86 million light vehicles, representing the second-highest monthly total ever, surpassing expectations and
Transportation equipment industry
Dieter Zetsche, the former CEO of DaimlerChrysler's Chrysler division, has left an indelible mark on the automotive industry in Detroit. Under his leadership, Chrysler has reported record profits, distancing itself from its Big Three rivals, General Motors and Ford Motor. While GM and Ford have struggled to stay
Transportation equipment industry
Bank of America and GMAC, the financial services subsidiary of General Motors Corp., have entered into a long-term strategic financing agreement to facilitate the purchase of up to $55 billion worth of GMAC retail automotive contracts over a five-year period. The agreement allows Bank of America to leverage its low-cost
