by Joseph Szczesny | Apr 29, 2009
The United Auto Workers Union’s tentative contract with Chrysler LLC presented to union members Tuesday fundamentally changes labor relations by curbing the UAW’s right to strike for the next several years. The contract was being presented to the more than...
by Ken Zino | Apr 29, 2009
It all comes down to bondholders of $6.9 billion in debt. Chrysler LLC, in the latest version of its restructuring plan, wants to give them $2 billion in cash and shares in a restructured company. Bondholders are balking, though, and it apparently requires the...
by Paul A. Eisenstein | Apr 29, 2009
A well-executed program encouraging American motorists to trade in their “clunkers” for new vehicles could not only give a big boost to the auto industry but inject as much as $25 billion in much needed consumer spending into the troubled economy,...
by Joseph Szczesny | Apr 28, 2009
Daimler AG lost more than $1.7 billion during the first quarter as its revenue dropped 22% from weak sales of luxury cars, trucks and vans. The Daimler Group’s total revenue is likely to decrease significantly in full-year 2009, Bodo Uebber, Daimler’s...
by Ken Zino | Apr 28, 2009
Coming off large global and regional losses during the 2008 fiscal year, Nissan is changing the management and structure for the Americas. The latest moves seem to be as much about increasing its share from insignificant in South America, as it is also an attempt to...
by Paul A. Eisenstein | Apr 28, 2009
Climbing into the southern extremes of the Swiss Alps, I muscle the ancient roadster into a corner, well aware of the way its skinny tires have begun to slide on the wet pavement. The guardrails are few, even though the drop-offs are becoming increasingly steep. As...
by Ken Zino | Apr 28, 2009
The latest report from the U.S. Treasury Department that conducts economic analysis confirms that the U.S. economy remains deeply troubled, and that an improvement is not expected anytime soon across broad sectors of the economy. While the report has negative...
by Ken Zino | Apr 28, 2009
The National Safety Council has just cited a study published in the Journal of Safety Research that says drivers overestimate their skills and underestimate distractions caused by other activities while they drive. Particularly dangerous is the widespread use of cell...
by Ken Zino | Apr 28, 2009
Honda Motor Company, the second larger automaker in Japan, reported in Tokyo today a net loss of almost $2 billion, ¥186.1 billion, for its fiscal fourth quarter ending March 31, 2009. The loss was, not surprisingly, attributed to a global decline in demand for its...
by Joseph Szczesny | Apr 28, 2009
Daimler AG has agreed to put a total of $600 million into Chrysler LLC’s pension fund during the next three years, under an agreement reached yesterday with Cerberus, the company that bought Chrysler from it, and the U.S. Pension Benefit Guaranty Corporation. It...
by Joseph Szczesny | Apr 27, 2009
General Motors Corporation earlier today launched a bond exchange that TheDetroitBureau.com said would be unlikely to succeed. It is part of a larger restructuring proposal that, if it goes forward, would effectively turn control of the company over to the U.S....
by Paul A. Eisenstein | Apr 27, 2009
It seemed like the proverbial no-brainer when General Motors announced plans, early in the decade, to revive its legendary muscle car, the Pontiac GTO. After all, few automobiles had become so entrenched in American lore, inspiring songs, like Ronnie and the...
