General Motors has announced plans to buy back some of its stock from the U.S. Department of the Treasury, reducing the federal government's stake in the automaker by 40%. In a press release, GM says that it will purchase 200 million shares of common stock from the Treasury -- a significant chunk...Read More»
Last week, the GOP issued its official Republican Party platform, and in that long, winding document were several items of interest for drivers -- namely, a statement against pay-as-you-drive taxes for motorists and harsh criticism of the Environmental Protection Agency. Hopefully, you had the...Read More»
In 2009, during the depths of the Great Recession, marketing research firm Harris Interactive surveyed thousands of Americans to gauge their feelings about the federal bailouts targeted at specific industries. None of the bailouts were particularly popular. Only 23% liked the idea of providing...Read More»
When the last Harris Poll on the public's perception of U.S. industries was conducted in 2009, automakers didn't fare so well. At the time consumers were less happy with car companies than with the pharmaceutical industry. (Ouch). But Harris has just released its 2011 results, and we're happy to...Read More»
Ford’s recent “press conference” television ads have a fairly simple premise: grab real life Ford owners and put them into an unscripted press conference setting, to get their feedback on Ford’s products. The problem with unscripted television, however, is that you often get...Read More»
Let's say you're the largest U.S. automaker, and you have a little problem. You're building cars that get good reviews for features, fit, finish, and fuel economy, but half the world still thinks you build lousy cars like you used to, and the other half shuns you as "Government Motors" due to a...Read More»
It's hard to believe that two years have passed since Chrysler's Chapter 11 hearings concluded (next Friday is the grim anniversary). Now, the automaker is preparing to begin a new chapter -- one with Fiat fully at the helm: Chrysler announced yesterday that Fiat will buy out the U.S. government's...Read More»
A report from the White House National Economic Council shows that the Obama administration expects to lose less than $16 billion on the bailout of General Motors, Chrysler, Ally Financial and Chrysler Financial. Of the $80 billion invested, some $40 billion has been recovered to date, already an...Read More»
Chrysler has announced the repayment of $7.6 billion in government loans that we told you about last week. On Tuesday, Chrysler reported a $5.9 billion payment to the United States Treasury and a $1.7 billion payment to Export Development Canada. The payments were sufficient to cover the...Read More»
Chrysler has struck a deal to refinance its debt, which will give the automaker the ability to repay $7.5 billion in government loans as early as next week, according to The Detroit News. The automaker will offer $3.5 billion in bonds, details to be announced, and will fund the remainder via a $1.3...Read More»
Yesterday, we told you that Chrysler was on the brink of announcing a plan to repay its debts to governments of Canada and the U.S. Now, they've gone and done it: according to a Chrysler press release issued this morning, the repayment will officially take place sometime between now and June 30...Read More»
Sources close to Chrysler report that the automaker is close to announcing a refinancing package that would eradicate $6.6 billion in loans provided by the U.S. and Canadian governments. The loans have long been an issue for Chrysler CEO Sergio Marchionne, who vocally objected to their high...Read More»
If you were a 26.5 percent shareholder in a major corporation with a declining stock value, what would you do? Would you look to dump your shares, which you bought at $53 each, at a market price currently below $30? Would you hold onto them, in hopes that the shares would recover some additional...Read More»
Yesterday, we spent a little time looking back at 2010, so it's only fair that we now turn 180 degrees and look at what the future holds for America's automakers. Thankfully, the folks at KPMG LLP are one step ahead of us: they've already distributed their annual questionnaire about tomorrow's auto...Read More»
Each of us has a slightly different set of criteria when we go shopping for a new ride. Some are obsessed with horsepower, some want airbags, and some marketing folks believe that cupholders are still the key to many buyers' hearts. But for 41% of Americans, the most important criteria is simply...Read More»
Last week, Ed Whitacre said that he was unsure about the timeline for General Motors' initial public offering. Analysts have been expecting GM to return to the stock markets this fall, but there's been a sizable obstacle standing in the automaker's way: finding a $5 billion line of credit, which GM...Read More»
A little over a year ago, General Motors was split in two: stockholders were left with shares in "Old GM", known officially as "Motors Liquidation Company" -- currently trading around $.41 -- while "New GM", now known as "General Motors Company" became a privately held enterprise owned by a range...Read More»
One year ago, America's automakers were facing one of the worst sales slumps to ever hit the industry, the effects of which even caused two of them to file for bankruptcy. In response, the government attempted to bailout struggling firms in the auto industry by providing them with cheap loans...Read More»
One year ago, America's auto industry was going through very tough times. Caught in the quagmire of recession, two of Detroit's Big Three had filed for bankruptcy, and they'd brought a few of their pals along for the ride. Americans were mixed about the federal government's bailout of the sector...Read More»
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