US task force works fast without autos insider
The News Review:
- US task force works fast without autos insider
- Dealership owner controller in missing autos case are nabbed in Utah
- GM Says It Doesn’t Need $2 Billion In Aid To Get Through Mar
- BMW Swings to Quarterly Loss
US task force works fast without autos insider
Reuters
Rounding out the panel are officials from the White House office on climate change Vice President Joe Biden’s office and the White House budget office. Carl Levin a Michigan Democrat pressed senior administration officials to appoint someone with auto industry or manufacturing experience to balance Rattner a former hedge fund manager and members who are economists policy experts or mainly politically oriented. Nearly three weeks into the group’s work Levin was somewhat reassured especially after meeting Rattner and Bloom who told him bankruptcy was not their goal. “I’m glad they went to Detroit” Levin said of Monday’s trip by Rattner and Bloom to meet with UAW President Ron Gettelfinger and visit GM and Chrysler facilities. “I’m glad Bloom is there. Bloom spent years working on corporate restructuring for the steel workers union and has some experience with the UAW.
Related from Restorehousatonic: Recreational task force formed
Dealership owner controller in missing autos case are nabbed in Utah
Salt Lake Tribune
are loaded onto a truck Monday night. Some of the dozens of new cars that vanished from the dealership have turned up in Utah other states. (The Associated Press) if(requestedWidth > 0){document.
GM Says It Doesn’t Need $2 Billion In Aid To Get Through Mar
CNNMoney.com
(GM) which had said it needed $2billion to avoid running out of cash by the end of March said Thursday it cansurvive for now without the loan. GM still needs the money just not as quickly as anticipated a companyspokeswoman said Thursday. The auto maker is working to get up to $16. 6 billionin additional loans which includes a cash infusion of $2. 6 billion in April. Cost-cutting moves and spending deferrals in January and February improvedGM’s immediate cash position allowing the company to put off the aid requestthe auto maker said in a statement. “This development reflects the acceleration of GM’s company-wide costreduction efforts as well as pro-active deferrals of spending previouslyanticipated in January and February” GM Chief Financial fficer Ray Young saidin a statement.
BMW Swings to Quarterly Loss
Wall Street Journal
13 billion in the fourth quarter comprising €931 million for risk provisions and €197 million for a reduction in headcount. BMW cut its workforce last year by 7% to 100041. The loss for BMW normally a steady profit-maker underscores the deep trouble roiling the auto industry. Hurt by the global financial crisis and slumping economies around the world auto sales have plunged in the U. and Europe over the last several months and growth has slowed significantly in formerly booming countries like China and India. As a result almost every auto maker in the world is struggling.
Written by admin on March 12th, 2009 with
no comments.
Read more articles on News.