Kerkorian cuts Ford stake, may sell all shares
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Automotive News | October 21, 2008 – 9:00 am EST
Kirk Kerkorian
DETROIT (Reuters) — Billionaire investor Kirk Kerkorian sold part of his 6.5 percent stake in Ford Motor Co. and may sell the rest of his stake [...]
GM-CHRYSLER MERGER TALKS
Automotive News | October 20, 2008 – 7:45 pm EST
DETROIT (Reuters) — General Motors has detailed a plan to slash costs at Chrysler LLC but initial attempts to secure financing for the controversial merger have been rebuffed, raising new doubts about whether it can be completed without government aid.
GM Chief Operating Officer Fritz [...]
Tuesday, October 21, 2008
California dealers say GMAC rules cut 40% of customers
David Shepardson / Detroit News Washington Bureau
WASHINGTON — The head of the California Auto Dealer Association warned that as many as 40 percent of California consumers wouldn’t qualify for an auto loan under new stricter guidelines announced by GMAC last week and that many [...]
Tuesday, October 21, 2008
Levin: Fed could aid a merger
Senator says that if a Chrysler pairing with another carmaker needs help, it should be offered.
Deb Price and Gordon Trowbridge / Detroit News Washington Bureau
DETROIT — Sen. Carl Levin on Monday suggested that the federal government may have a role in helping Chrysler complete a merger.
"If they [...]
Tuesday, October 21, 2008
Banks join GM-Chrysler talks
Deal still not close; analysts say bank role could be crucial, given restructuring costs.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — Talks about a possible deal between General Motors Corp. and Chrysler LLC continued Monday, but an agreement was not close, sources close to the discussions said.
The talks — [...]
Tuesday, October 21, 2008
Chrysler sale could chill Michigan economy
Possible deal puts jobs, housing, taxes, image at risk
Louis Aguilar, Alisa Priddle and Catherine Jun / The Detroit News
Michigan, mired in a one-state recession for five years, now faces additional anxiety: the possible elimination of Chrysler LLC as a stand-alone company.
The loss of one of Detroit’s Big [...]
Tuesday, October 21, 2008
Daniel Howes: Commentary
GM hasn’t learned bigger isn’t better
Cerberus Capital Management LP’s founder, Stephen Feinberg, is so desperate to get rid of Chrysler LLC that he’s pushing the No. 3 automaker on General Motors Corp. and apparently calling it an industrial solution for the beleaguered American auto industry.
Talk about knowing your customer. Few [...]
