Tuesday, September 23, 2008
GM’s shares fall on unease
Capital, liquidity worries weigh on analysts, investors; SEC blocks short sales.
Robert Snell / The Detroit News
General Motors Corp. stock dropped again Monday amid concern from investors and analysts about the company’s diminishing liquidity and lack of access to capital.
Further concern was shared about the company’s announcement late Friday [...]
Bill Ford sells 1 million Ford shares
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Chrissie Thompson
Automotive News | September 22, 2008 – 4:18 pm EST
DETROIT — Ford Motor Co. Executive Chairman Bill Ford sold about one-sixth of his common stock holdings last Thursday, Sept. 18, according to a Securities and Exchange Commission document.
Bill Ford, 51, sold 1 million shares, making $5.05 million [...]
Top CAW exec to leave in Jan.
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Chrissie Thompson
Automotive News | September 22, 2008 – 12:28 pm EST
Hemi Mitic, assistant to the president of Canadian Auto Workers since 1992, will leave the organization in mid-January.
Mitic, 57, had hoped to become the next president of the union he has served full time since 1981. Shortly after [...]
Oil spikes nearly 16% on banking rescue plan
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Automotive News | September 22, 2008 – 2:56 pm EST
LONDON (Reuters) — Oil prices today soared nearly 16 percent to over $120 a barrel — the biggest one-day gain on record — in a rally sparked by the expiry of the front-month futures contract and weakness in the [...]
GM seeks tax breaks for Mich. projects
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Ryan Beene
Automotive News | September 23, 2008 – 12:01 am EST
DETROIT — General Motors is considering a plan to spend up to $836 million in Michigan manufacturing plants and other facilities in the state to bolster operations needed to build its Chevrolet Volt plug-in hybrid electric vehicle.
As laid [...]
