Friday, October 10, 2008 Ford’s CFO Leclair to retire; Booth to replace him Bryce G. Hoffman / The Detroit News Ford Motor Co. Chief Financial Officer Don Leclair will retire Nov. 1 and will be replaced by Ford of Europe head Lewis Booth, the Dearborn automaker said today. "Don’s expertise and business acumen have been [...]
Friday, October 10, 2008 Feelings mixed on auto industry Some think economy has doomed automakers, while others think Ford and GM can rebound. Francis X. Donnelly / The Detroit News Some thought it was the death knell for the auto industry. Others said Ford and General Motors would be just fine. Still others thought the [...]
Friday, October 10, 2008 Auto fears grow GM, Ford stock sell-off contributes to Dow’s drop David Shepardson / Detroit News Washington Bureau WASHINGTON — Investors are running for the exits and abandoning Detroit’s auto companies amid continued concerns about the future of the industry. They’re worried about the credit crisis hurting auto sales; the deteriorating [...]
Friday, October 10, 2008 GM may announce plant closures, production cuts Robert Snell / The Detroit News General Motors Corp. could announce more production cuts and plant closures later this month, a company source said this morning. The disclosure comes a day after the company’s shares lost almost one-third of their value, hitting lows unseen [...]
Friday, October 10, 2008 Daniel Howes: Commentary Market drop revives talk of bankruptcy That sickening thud you heard Thursday, when the Dow Jones Industrial Average plunged another 678.9 points, was Detroit getting downgraded — hard. General Motors Corp. shares lost a third of their value in a single day and closed at $4.76, their lowest [...]
Automotive News | October 9, 2008 – 12:00 pm EST DETROIT (Reuters) — General Motors shares today fell to their lowest level since 1950 as concerns mounted that an industry decline that started in the United States was spreading and a leading forecaster warned global auto demand could "collapse" in 2009. [...]
Lentz: Toyota battling low consumer confidence Toyota may extend interest-free loans queryvar=”lentz:,toyota,battling,low,consumer,confidence”; Chrissie Thompson Automotive News | October 9, 2008 – 1:30 pm EST Jim Lentz Toyota’s 0-percent financing offer was an attempt to combat low consumer confidence, Toyota’s U.S. sales president said today at the grand opening of the Toyota Technical Center. [...]
GM, lender write fewer longer-term loans queryvar=”gm,lender,write,fewer,longer-term,loans”; Donna Harris and Jamie LaReau Automotive News | October 9, 2008 – 3:36 pm EST Amid a virtual freeze on consumer credit, General Motors is emphasizing cash transactions over long loans, the company’s sales chief said today. “We’ve been writing fewer 72-month loans,” Mark LaNeve, GM’s [...]
