The News Review:
- GM expects value of China auto-parts purchases to rise 25% through…
- Sony to sell auto programmes to PS3 users via Web
- GM: ResCap May Ram Auto Finance
GM expects value of China auto-parts purchases to rise 25% through…
MarketWatch – Nov 30, 2007
30 2007 (Adds more comments from GM executive details on GM’s China joint ventures and potential of Fuyao Glass as a supplier. ) By Patricia Jiayi Ho Of DOW JONES NEWSWIRES BEIJING (Dow Jones)–General Motors Corp.
Sony to sell auto programmes to PS3 users via Web
Economic Times – Nov 30, 2007
Sony’s game unit will putan online TV channel function in its upcoming racing game “Gran Turismo 5Prologue” which will go on sale in Japan on Dec. 13 allowing users to downloadauto documentaries auto race digests and otherprogrammes. Sony ComputerEntertainment does not give a price range for downloading saying fees will varyfrom programme toprogramme. The PS3 has beenlagging behind Nintendo Co Ltd’s.
GM: ResCap May Ram Auto Finance
thestreet.com – Nov 30, 2007
GM CFO Fritz Henderson told Wall Street analysts at a dinner on Thursday that if GMAC’s credit ratings take a hit from the heavy losses it’s suffering its mortgage division then the core auto finance business could have trouble maintaining profit margins according to a report published Friday by Bear Stearns analyst Peter Nesvold. “We’re not there yet” said Henderson according to Nesvold. GM sold a 51% stake in its former finance subsidiary last year to private-equity firm Cerberus Capital Management for more than $14 billion. At the time GM was trying to raise cash to finance a restructuring at its floundering auto business and it was also trying to firewall GMAC’s credit ratings to protect its profit margins.