The News Review:
- Bush Tours 2 Auto Plants and Talks of Energy Policy
- CRRECT: US Auto Parts shares tumble
- Auto component stocks may come back on growth track
- Auto industry deals with changing politics
- 7-Figure Salaries At Bankrupt Auto Giant Dana Corp. CE Made $2.2M…
Bush Tours 2 Auto Plants and Talks of Energy Policy
New York Times – Mar 21, 2007
WALDPublished: March 21 2007 CLAYCM Mo. March 20 President Bush on Tuesday toured plants of Ford and General Motors two troubled automakers and then gave a pep talk to hundreds of workers saying that their work would help national security by reducing the nation’s dependence on foreign oil. Bush emphasized the points where his agenda intersected with that of the auto companies: ethanol hybrid vehicles and the hope for fuel cells. “You’re making a new kind of automobile that is literally a part of changing America for the better” he told workers at the Ford plant here standing in front of vehicles that included a pickup painted to look like a cornfield that can run on ethanol.
CRRECT: US Auto Parts shares tumble
MarketWatch – Mar 21, 2007
Auto Parts Network Inc. shares plunged 47% to $5. 85 in Wednesday afternoon trade. Late Tuesday the Carson Calif. -based company reported a fourth-quarter net loss of $20000 or breakeven per share compared with net income of $2. 06 million or 16 cents a share in the year-ago period.
Auto component stocks may come back on growth track
Economic Times – Mar 21, 2007
However for the medium- to long-term investorit is the perfect opportunity to build up positions in select counters as thecompanies are likely to be back on the growth track. ver the pastone year the stocks suffered probably on investor fears of high raw materialprices ? especially steel aluminum and copper ? eating into thecompany?s operating margins. The worst seems to be over now. Industryconsensus is that metal prices have peaked and going forward companiesoperating profits will grow in tandem with growth in theirtopline.
Auto industry deals with changing politics
San Diego Union Tribune – Mar 21, 2007
DATE>March 21 2007. CNTENT>WASHINGTN – The auto industry is facing one of its toughest political battles in years as shifts in the political and business landscape have eroded its defenses against stricter fuel economy standards. President Bush's support of higher standards also has hampered Detroit's efforts to fend off new rules. Increasingly the war in Iraq and related concerns over U.
7-Figure Salaries At Bankrupt Auto Giant Dana Corp. CE Made $2.2M…
CBS News – Mar 21, 2007
which has argued that it needs to reduce employee and benefit costs to emerge from bankruptcy says in its annual report that its chief executive recieved total compensation of $2. 29 million last year while its chief financial officer earned about $125000 a month plus out-of-pocket expenses. The company one of the largest auto parts makers in the world is seeking bankruptcy court approval to reject some labor contracts and retirement benefits. It has said in court papers that its U.