JPMorgan’s Dimon: Exposure To Big 3 Auto Firms Less Than $1 Billion
The News Review:
- JPMorgan’s Dimon: Exposure To Big 3 Auto Firms Less Than $1 Billion
- AP sources: UAW focusing on talks with Chrysler
- Auto industry on plug-in hybrids and electric cars
- Auto thefts in Valley drop; insurance rates could too
- TM WALSH How best to help hard-hit auto towns?
- Scott Storch Arrested For Grand Theft Auto In Miami
JPMorgan’s Dimon: Exposure To Big 3 Auto Firms Less Than $1 Billion
CNNMoney.com
(JPM) Chairman and Chief ExecutiveJamie Dimon said during a conference call with investors that his bank’sexposure to the auto industry is reserved for but could cause some losses. “The three companies are total exposure in other words how much could wepossibly lose at the far end it would be well less than $1 billion” he said. “We have exposure to the finance companies mostly collateralized.
AP sources: UAW focusing on talks with Chrysler
The Associated Press
on the back burner as it tries to reach a deal with Chrysler LLC before an April 30 government deadline two people briefed on the negotiations said Thursday. The decision likely means that any deal with Chrysler will set the pattern for concessions granted to GM as both companies try to show the government they have cut costs enough to get more government loans. The people who spoke on condition of anonymity because the talks are private said the union is focusing on Chrysler because its government deadline to cut labor costs and swap debt for equity is just two weeks away. Chrysler also has to ink an alliance deal with Fiat Group SpA by April 30 to get more government aid.
Auto industry on plug-in hybrids and electric cars
The Associated Press
Many industry officials say the goal is a worthy one but will be difficult to meet. A look at the work by some auto manufacturers:GENERAL MTRS CRP. : General Motors is set to produce the Chevrolet Volt an extended range electric plug-in in late 2010 in limited numbers. The Volt is the centerpiece of GM’s attempt to take the lead in electric vehicles and will have a lithium-ion battery and electric motor that can take the car 40 miles on a single charge. A gasoline engine will kick in to power a generator to extend the Volt’s range beyond the 40 miles. GM has not yet announced the price of the car but the cost is expected to be $30000 to $40000.
Auto thefts in Valley drop; insurance rates could too
Arizona Republic
16 2009 12:00 AM The Arizona Republic Valley residents are more likely to see something in their driveways this morning: their cars. In 2008 25794 cars were stolen in the metro area according to National Insurance Crime Bureau data released this week. That’s a decline from 2007 when the number was 34182. The car-theft rate is one factor insurance companies use to set rates which could mean lower costs for drivers according to the Arizona Insurance Information Association.
Related from Insurancemonster: No increases for insurance companies that based auto rates on …
TM WALSH How best to help hard-hit auto towns?
Detroit Free Press
If he’s anything like me or Lansing Mayor Virg Bernero he must have been struck by (a) the sheer magnitude of the devastation wrought by the auto industry crisis and (b) the wildly different and contradictory proposals for how to address it. Montgomery did not speak at the conference saying — as he has since his March 30 appointment — that he’s still gathering information.
Scott Storch Arrested For Grand Theft Auto In Miami
MTV.com
addEntry({} {button:true} );If only it was a just video game but this isn’t a level of “Grand Theft Auto. ” Producer Scott Storch was apprehended by police in Miami on Friday and charged with well grand theft auto. The producer posted an undisclosed amount for his bond soon after. MTV News obtained a copy of the police report and according to the authorities Storch had begun leasing a 2004 Bentley GT in February 2006 with a return date of March 2008. The owners of the vehicle Atlas Leasing Company are alleging that Storch failed to comply with the terms of their leasing agreement.
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