Saturday, October 11, 2008
Buy auto stocks, but avoid Devil dog
Shares of Detroit’s most iconic automobile companies now cost less than a morning coffee or a latte, but they’re generating way more buzz.
Unfortunately, despite all the requests for advice, Biz Insider can’t officially offer investment guidance into purchases of General Motors Corp. or Ford Motor Co. [...]
GM says it’s not considering bankruptcy
Ford’s Mulally echoes GM’s stance
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Amy Wilson
Automotive News | October 10, 2008 – 8:30 am EST
DETROIT — A day after its stock price fell to lows not seen since 1950, General Motors says it isn’t considering bankruptcy reorganization.
“Clearly we face unprecedented challenges related to uncertainty in the financial markets globally [...]
GM slows down payments to non-production suppliers
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Amy Wilson
Automotive News | October 11, 2008 – 12:01 am EST
DETROIT — In a bid to conserve cash, General Motors is giving itself more time to pay its North American non-production suppliers.
Effective Oct. 1, GM says it is paying its “indirect” suppliers 60 days after receiving goods or [...]
Market meltdown makes GM buyout goal harder to reach
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Amy Wilson
Automotive News | October 10, 2008 – 4:25 pm EST
DETROIT — The market meltdown will make it more difficult for General Motors to reach its goal for salaried employee buyouts.
Beginning the week of Aug. 25, GM offered retirement and early retirement incentives to its salaried [...]
Reports: GM, Chrysler hold merger talks
N.Y. Times reports preliminary talks; Wall Street Journal says talks on hold
The Associated Press
DETROIT – General Motors Corp. and Chrysler LLC have held preliminary talks about a merger or an acquisition of Chrysler by GM, according to published reports late Friday.
The Wall Street Journal, citing people it described as familiar [...]
