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Entries tagged "autos"Brewster's millions and Paulson's billionsIn the 1985 comedy "Brewster's Millions," the late great comedian Richard Pryor played a minor league baseball player who had 30 days to blow through $30 million with nothing to show for it at the end, a feat he just managed to pull off in the nick of time. But Pryor's Montgomery Brewster had nothing on Treasury Secretary Hank Paulson, who's planning on asking Congress for the remaining $350 billion in bailout money after spending the first $350 billion in three months. ... U.S., foreign automakers cut production amid slowdownWhile Detroit's Big Three await details of a short-term aid package from the U.S. government, the auto companies are wasting no time scaling back capacity in response to slumping sales. ... Auto bailout fails ... credit markets shrugIt's going to be an ugly day on Wall Street as the $14 billion bailout of the auto industry ran out of gas last night. With General Motors Corp. warning that it doesn't have enough cash to get through the next three weeks, investors are furiously selling off the already beaten-down stock in premarket trading. By 8 a.m., GM was down 31%, and Ford Motor Co. had lost 18%. ... Dana turns tables on ChryslerAuto parts makers have had to eat the dust of their automaker customers the past few years. But Dana Corp. didn't on Wednesday. ... Chrysler/Nissan talks: Short-term gain, long-term M&A?In the year since Cerberus Capital Management LP bought Chrysler LLC, auto industry watchers have been waiting to see what fresh ideas private equity ownership might inject into the struggling company. Watchers got their wish on Thursday, but the talk of outsourced manufacturing and stronger partnerships is resulting in considerable head-scratching instead of awe.... We called it: GM's Wagoner is safeLooks like General Motors Corp.'s CEO Rick Wagoner will be sticking around. The board is backing Wagoner even with the company's $15.5 billion loss in the second quarter, according to The Wall Street Journal. Wagoner has been at GM's helm as CEO since mid-2000. GM reported cumulative losses of roughly $50 billion for 2005, 2006 and 2007. Just in case you missed it, The Deal's Lou Whiteman said Friday during an appearance on Fox Business that Wagoner would be safe. Watch the video after the jump. - Maria Woehr... GM in talks with Mahindra, others, about a Hummer dealGeneral Motors Corp. is reportedly in talks with India's Mahindra & Mahindra Ltd. as well as Russian and Chinese automakers as it looks to divest its gas-guzzling Hummer brand and focus on building smaller vehicles.... Did GM leak brand realignment to raise stock?General Motors Corp., which has seen its shares fall to 1950s-lows in recent weeks on fears of a slowing economy and due to its overreliance on gas-guzzling trucks and SUVs, got a boost Monday from a Wall Street Journal story reporting that the automaker is looking to cut thousands of white-collar jobs and could sell or axe some of its brands.... Will bankruptcy clouds settle over GM?Remember the old adage, "What's good for General Motors is good for America?" It's especially relevant now that Toyota Motor Corp. is on the verge of passing General Motors Corp. in U.S. auto sales. ... Progressive Moulded typifies troubles of auto parts makersWhen auto parts maker Progressive Moulded Products Ltd. tumbled into Chapter 11 on June 20, it exposed an interesting wrinkle that may be worth watching in the sector.... Indians interested in GM's HummerWith Land Rover already in its garage, could Tata Motors Ltd. have room for the Hummer too? If Indian press reports have it right, the answer is yes. ... Kerkorian may push for more divestitures at FordThough Kirk Kerkorian and Ford Motor Co. CEO Alan Mulally appear to still be comfortably in the honeymoon period of their newfound relationship, hints are emerging about what direction billionaire Kerkorian might head should the partnership eventually hit the rocks.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "autos." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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