Loren Steffy: Maybe auto bankruptcy not such a bad idea
The News Review:
- Loren Steffy: Maybe auto bankruptcy not such a bad idea
- As Auto Deals Add Up Will Buyers Bite?
- Sen. Corker: bama’s Auto Plan Sets “Dangerous Precedent”
- Possible Chrysler savior Fiat has low reliability scores
- Sonic Auto Swings To 4Q Loss Gets ‘Going Concern’ Comment
- Auto recovery director to be in Michigan
Loren Steffy: Maybe auto bankruptcy not such a bad idea
Houston Chronicle
Is all of this better than bankruptcy? Helfman says yes because the public has such a stigma about companies in Chapter 11. But there’s also a stigma with buying from companies working under the persistent threat of bankruptcy that rely on government handouts every few months to stay in business. What the auto industry needs isn’t the compromise of politics but the cold eye of an impartial judge. nly that can address the problem quickly enough to give these companies a chance of rebuilding themselves. What the industry got Monday wasn’t a bailout.
As Auto Deals Add Up Will Buyers Bite?
BusinessWeek
auto industry in turmoil Ezor and thousands of other would-be buyers find themselves in a transformed landscape. Manufacturers dealers and the bama Administration are throwing incentives at reluctant buyers to help revive foundering auto sales which in February were.
Sen. Corker: bama’s Auto Plan Sets “Dangerous Precedent”
CBS News
Bob Corker of Tennessee said that the bama administration’s demands of General Motors and Chrysler set “a dangerous precedent. ” “I think for all of us who believe in free enterprise this is the crossing of a major threshold and it actually should send a chill to people all across the country” Corker said. “You know we have become numb to all the bailouts that are taking place” he added. “And yet yesterday this administration decided that they know best as it relates to this industry – they’re going to be making decisions about which plants close which plants stay open. You can watch the full interview below:.
Possible Chrysler savior Fiat has low reliability scores
USA Today
Those are chilling reports at a time the Italian automaker is viewed as the only savior for Chrysler via a proposed partnership. Chrysler on Tuesday had no comment on meetings with Fiat or progress of the proposed deal. President bama’s auto task force on Monday judged “Chrysler is not viable as a stand-alone company” and bama said it won’t get more bailout loans (it got $4 billion last year) unless it partners with Fiat — or somebody — by the end of April. Fiat’s poor scores give new life to the low-quality image the brand gained in the U. before it left in 1987. Some 1970s models “rotted away fell apart as you drove down the freeway” says David Champion head of auto testing at Consumer Reports.
Related from Investingmonster: Auto Bailout… Are we bailing out Chrysler or investing in Fiat …
Sonic Auto Swings To 4Q Loss Gets ‘Going Concern’ Comment
Wall Street Journal
–>Sonic Auto Swings To 4Q Loss Gets ‘Going Concern’ Comment ArticleCommentsmore in. (SAH) swung to a fourth-quarter net loss on charges and sagging sales as auditors expressed doubt about the auto-dealership chain’s ability to continue as a going concern. Sonic which trails only AutoNation Inc. (AN) and Penske Automotive Group (PAG) in sales said fears about its remaining in compliance with its debt agreements prompted.
Auto recovery director to be in Michigan
Detroit Free Press
Jennifer Granholm and Detroit Mayor Ken Cockrel. As explained by the president his task is to come up with ways to retrain workers create job opportunities and help communities struggling with high joblessness. Montgomery is set to meet with Granholm and her economic development team in Lansing with a press availability following at 3:30 p. He will then go to Detroit where he will meet with Cockrel.
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