Donald Trump isn't terribly sentimental about government agencies. The National Endowment for the Arts, the Corporation for Public Broadcasting, the Low Income Home Energy Assistance Program, and 59 other agencies and programs stand to be eliminated under the president's current budget. But Trump's...Read More»
Economists aren't typically known for their unbridled optimism. They tend to be a cautious lot, who seem most anxious when the markets are doing well. They trade nervous glances waiting for something to go wrong. Has something gone wrong? Maybe so: the Federal Reserve Bank of New York has confirmed...Read More»
Remember the Great Recession? It upended the world less than a decade ago, but already, some folks seem to have forgotten its lessons. And according to the financial blog Zero Hedge, we may be doomed to repeat them. If you're not familiar with Zero Hedge, it's well worth a look. It's written...Read More»
Some pundits have predicted that China's auto market is unstoppable. To prove their point, they often point to the country's booming middle class, who aspire to own the same luxuries as their counterparts in the West. On the face of it, the numbers make sense. China is massive -- with nearly 1.4...Read More»
We all have stories about that one lousy schmuck who ruined things for the rest of us. The guy who took greedy fists full of candy from the Halloween bowl on the neighbor's porch. The student who hid formulas behind her calculator, which meant that on future math tests, everyone had to remember...Read More»
Earlier today, we reported that the Department of Justice had launched an investigation of U.S. auto lending practices. Specifically, the DOJ is concerned that minority borrowers are being offered loans with higher interest rates than those presented to their white peers. Auto News reports that New...Read More»
If you're the sort of person who enjoys similes, you could spend a lot of time comparing today's car companies to Apple. Like Apple, for example, General Motors came back from the brink of ruin to become a leader in the industry once more. Toyota followed the same path in the wake of 2010's...Read More»
Last week, Ford's second-quarter earnings figures proved that the automaker is still going strong, but also showed that Europe's financial woes are hindering Ford's progress. Now, Chrysler has released its own outstanding financial results for April, May, and June, but could Fiat kill the party?...Read More»
Ford released its second-quarter earnings report this morning, and among all the charts and bulletpoints, there's both good news and bad. We'll start with the good: Ford posted a pre-tax operating profit of over $1.8 billion. The company has now posted pre-tax profits for 12 consecutive quarters...Read More»
Yesterday, J.D. Power confirmed that Detroit is gaining ground on its foreign rivals in terms of vehicle dependability. Today, there's more good news for fans of the Big Three: General Motors has announced stunning financial results from 2011, marking the first time in years that Chrysler, Ford...Read More»
To say that Saab has had a tough time the past couple of years is like saying that Alaska is slightly chilly in the winter. Since the recession hit in 2008, Saab has teetered on the brink of collape, but fans will be happy to know that a new infusion of cash has put the company back on its feet...Read More»
GM today filed registration with the Securities and Exchange Commission for its proposed Initial Public Offering (IPO). The announcement reveals the stock to be sold will consist of both common stock held by "certain" of its stockholders and issuance of Series B mandatory convertible junior...Read More»
Second-quarter financial results are due from a number of automakers this week. And as much as we love poring over the numbers (we're nerds that way), we also love seeing how those figures get heralded in headlines. The variations can be very, very telling. Case in point: Chrysler, which announced...Read More»
The USAA iPhone app does a lot of nifty stuff. Apart from letting users manage their USAA accounts, pay bills, and deposit checks remotely, the app also provides many benefits for drivers, including roadside assistance and a handy checklist for folks who've been in accidents. And starting next...Read More»
The global economy is giving mixed signals right now. On the thumbs-down side, unstable unemployment numbers and see-saw stock markets. On the upside, job creation, the return of venture capital, and slowly increasing GDPs (at least in most parts of the world). In the auto industry, GM and...Read More»
When it comes to personal finance, there are three things we know for sure: 1. America's love affair with credit cards has not gone well. 2. By and large, Americans seem to have realized that and are now spending more wisely. 3. Thanks to the internet, there are a number of free tools to help them...Read More»
When General Motors sold off control of GMAC, it lost more than its in-house financing arm. It lost the ability to offer loans to a broad range of consumers, particularly subprime borrowers. As a result, GM also lost market share. Now, the automaker is chatting up two major Wall Street players --...Read More»
American auto dealers were dealt a winning hand yesterday as the U.S. House of Representatives agreed to exclude auto loans from an upcoming consumer protection bill. A competing bill from the Senate has similar language, and the two are now being reconciled in conference committee. The consumer...Read More»
Not so very long ago, CEO Alan Mulally said that Ford wouldn't be "solidly profitable" until 2011, but investors will be happy to learn that the company just posted a profit from the fourth quarter of 2009 and a net gain for all of last year. Last January, Ford put down a $5.9 billion loss for Q4...Read More»
