DC Profits $3.4B in 2005
DaimlerChrysler earned $3.4 billion in 2005 with the Chrysler Group accounting for $1.8 billion of the profit, the company announced on Thursday.
The Mercedes Benz Group posted an operating profit of $1 million in the fourth quarter, and finished the year with a $600 million loss, but DaimlerChrysler AG executives insist the group is finally moving in the right direction.
DaimlerChrysler chief executive Dieter Zetsche, who continues to double up as Mercedes' CEO, said the Mercedes group is focused on trimming costs and improving the efficiency of its processes, even as it launches a new effort to improve customer satisfaction and continues to launch new products this year, including the new GL-Class, E-Class, and CL-Class cars and trucks.
Profits $3.4 Billion in 2005 (2/16/2006)
Chrysler Group gets nearly $2 billion in credit for the gains.
End of the Line for Generous Motors?
It used to be conventional wisdom in American business that "Generous Motors" offered the richest benefits around. GM was an enormously rich company back in the 1950s and 1960s, and GM's top management used the company's wealth to attract and retain talent.
Fast-forward 50 years, and the old regime at GM has fallen into disarray. The rich benefits put in place decades ago are now fading into history as the company grapples with the challenges posed by an era of aggressive competition and globalization.
In one of the biggest blows to the old regime, GM chairman Richard Wagoner said GM will follow the lead of corporate giants such as IBM and Verizon, and will change the way pension benefits are calculated for active salaried employees hired before 1993.
Wagoner said GM still is evaluating ways to restructure
salaried pension benefits in the
of the Line for Generous Motors? (2/16/2006)
A new cap on pensions means the days of big bennies are out.
GM-UAW-Delphi Stuck in Neutral
The three-way talks between General Motors Corp., the United Auto Workers, and the bankrupt Delphi Corp. appear to be stuck in neutral.
Today will be a pivotal day in the talks, though, as a Feb. 17 deadline that
Robert "Steve" Miller,
The loss at Mercedes included charges on earnings totaling $1.3 billion in connection with the restructuring at smart and another $675 million relating to the staff-reduction program at the Mercedes-Benz car group, which was announced at the end of September 2005.
Stuck in Neutral (2/16/2006)
Talks lay fallow, but zingers do too.
C&A Hires Mary Ann Wright
Bankrupt Collins & Aikman Corp. of Troy, Mich., has picked up some new management talent, signing Mary Ann Wright as executive vice president of commercial and program management. Wright formerly was director of sustainable mobility technologies and hybrid vehicle programs at the Ford Motor Co. In her new position, Wright will be responsible for organizing, planning, and implementing the overall marketing, sales, business development, and program management activities for Collins & Aikman. "Mary Ann is a respected, proven, and recognized industry leader," Collins & Aikman CEO Frank Macher said. "She brings a thorough understanding of our customers' needs in terms of product development processes, and program management. She is a valuable addition to our senior management team," Macher said. -Joe Szczesny
Ford Says Market-Share Slide to Continue
Ford's chief sales analyst expects the company's market-share slide to
continue before stabilizing this year or next, the Wall Street Journal
reports. George Pipas says Ford's sales may stabilize in the near future, but
not from 2005 levels, which finished at 18.3 percent of the
Chicago Auto Show: Last Words by TCC Team (2/13/2006)
To sum it up: there are a lot of trucks here, aren't there?
Ford of Canada Confirms It's Building Hybrids
Confirming a story reported from this year's
Abandons Names, Mostly by TCC Team (2/13/2006)
Zephyr's gone with the wind; are MKZ, MKX, MKS too alike?
GM Confirms $545 Million to
General Motors Corp. plans to spend $545 million upgrading factories around
"GM's investments demonstrate our commitment to continuously improve our
products," said Spielman. "They also show our dedication to strengthening our
Meanwhile, Michigan Governor Jennifer Granholm was quick to hail the new
investments. "GM's decision to invest more than a half billion dollars in these
manufacturing plants clearly signals their belief in our highly skilled and
dedicated workforce," Granholm said. "Because the automotive industry is such an
important cornerstone of our state's economy and livelihood, we are thankful
that GM has chosen to further invest in
"We want you to know that your success - and we know GM will have success in
turning it around - is our success," she added. "There is no vision of
Slashes Exec Pay, Dividend by TCC Team (2/13/2006)
Still more "shared pain" could be in the offing, CEO Wagoner suggests.
Ford Says It's Number One for 2005
Ford is going after Chevrolet's claim that it was the best-selling brand in