cars

This clip is very much in line with my thinking from a previous post.

I like the fact that President Obama has drawn a line in the sand and signaled that no more funds will be given to U.S. automakers without their presenting a viable long-term plan for restructuring. Ultimately, the automakers cannot…

In 2 hours I will be on BBC World News Today talking about the recent government actions involving the auto industry. Afterwards, I will have more to say about this here. In the meantime, here is what Barack Obama had to say.

This comes via Angus Robertson of Research Recap: The performance of auto loan securities has been mixed, but Standard & Poor’s Credit Research points out that overall ratings on the ABS have been remarkably stable in spite of…

As I mentioned in my post, "TALF: A bailout if one reads the fine print" the TALF is not a program ONLY for U.S. institutions. It is a vehicle for re-starting the U.S. asset-backed securities credit markets. In fact, the first recipient…

It is looking like Saab is toast. This comes from Dagens Nyheter, a Swedish daily (note: I originally saw this covered in the Austrian daily Kurier):

It seems that the Obama Administration is playing hardball with GM and Chrysler. They may force the companies into bankruptcy to protect American taxpayers from having to pony up yet more money for the beleaguered automakers. I see this…

General Motors, struggling under the weight of a mountain of debt, is finding it difficult to raise cash. For one, the U.S. automaker is finding no buyers for its Swedish Saab unit, according to Swedish Daily "Dagens Nyheter."…

Coming on the heels of the Rubin resignation as it does, the resignation of Ezra Merkin as Chairman of GMAC makes it seem like a bit of shake up in financial services management is underway as 2009 begins. Merkin was tainted by the Madoff…

The numbers for December are in and they are grim. 2008 was a year to forget in the auto industry. Sales plummeted around the globe as recession took hold. In the United States, every major car company saw sales fall at least 30% compared…