Kerkorian cuts Ford stake, may sell all shares queryvar=”kerkorian,cuts,ford,stake,may,sell,all,shares”; 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 in the automaker, Kerkorian’s investment vehicle [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
