Tag: Bailout

By on August 7, 2012

The Daily Caller says it has emails that prove that the pensions of 20,000 salaried retirees at Delphi were terminated “solely because those retirees were not members of labor unions.”

The emails, says the conservative website “contradict sworn testimony, in federal court and before Congress, given by several Obama administration figures. They also indicate that the administration misled lawmakers and the courts about the sequence of events surrounding the termination of those non-union pensions, and that administration figures violated federal law.” (Read More…)

By on August 4, 2012

The most successful brands in our industry don’t have much meaning to them.

Toyota, Chevrolet, Ford, Hyundai, Kia, all of these are names that wouldn’t evoke much of any imagery had their manufacturers never existed.

Mercury and Saturn are popular planets that make you think of space and the futuristic pursuit of those faraway places. Acura should be quite accurate and precise. Rams are tough. Infiniti pays homage to the outer limits of capability and performance.

Yet all of these names experienced failure, or ultimately failed, due to the key essential ingredient within any brand’s reputation.

Product.

(Read More…)

By on July 24, 2012

The closing of the Oshawa Consolidated Line supposedly had GM in the bailout doghouse – the company was supposed to maintain a certain level of production in Canada according to the terms of their bailout package. As far as we know, GM hasn’t replenished that yet, but they are throwing the Canadian federal and Ontario governments a bone by investing an undisclosed nine-figure sum into R&D at Oshawa.

(Read More…)

By on June 14, 2012

Moody’s has been less than impressed with GM’s recent pension cuts/buyouts: (Read More…)

By on May 8, 2012

Republican Presidential hopeful Mitt Romney told voters in Ohio that he deserves “a lot of credit” for the auto industry turnaround since the bailout era.

(Read More…)

By on April 27, 2012

Vice-President Joe Biden has been talking about the auto bailout frequently as the campaign for his re-election heats up in the coming months. A speech to NYU had him tout the record of the Obama administration, while also criticizing Gov. Mitt Romney’s famous “Let Detroit Go Bankrupt” op-ed.

(Read More…)

By on April 19, 2012

Old habits die hard. Whether it’s GM’s desire to slice-and-dice its fuel economy achievements to make them look better than they are, or our instinct to correct the record, it’s all just a little bit of history repeating.

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By on March 28, 2012

A year ago nearly to the day, I was investigating the connection between Libyan dictator Muammar Gaddafi and Fiat. With an American-led intervention in Libya underway, Reuters had reported that a Wikileaked State Department document revealed that the Libyan Government owned a two-percent stake in the automaker Fiat as recently as 2006. When I contacted Fiat’s international media relations department for comment, I received this response:

Dear Mr Niedermeyer,

Further to your email, I would mention that the Reuters report you refer to is incorrect. As too are other similar mentions that have appeared recently in the media concerning the LIA’s holdings in Fiat.

The LIA sold all of its 14% shareholding in Fiat SpA in 1986 – ten years after its initial stake was bought.  It no longer has a stake in Fiat SpA.

I trust that this clarifies the matter.

It didn’t, actually. In fact the matter remained as clear as mud to me until just now, when I saw Reuters’ report that Italian police have seized $1.46 billion worth of Gaddafi assets, including “stakes in… carmaker Fiat,” under orders from the International Criminal Court.
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By on March 21, 2012

After GM’s  IPO, stockholders looked with great anxiety at the 32 percent the U.S. government still holds in General Motors. Allegedly, the U.S. government wanted to shed that share as quickly as possible, and someone dumping the stock does not make for rising stock prices. Now, GM is sending out smoke signals that a sale is far from imminent. GM’s chief spokesman Selim Bingol wrote in a blog  that “the day will eventually come when the Treasury sells its GM stake. When is anybody’s guess (we have no say in the matter).” (Read More…)

By on February 18, 2012

Days after Republican Presidential candidate Mitt Romney penned an op-ed in the Detroit News over his thoughts on the bailout, UAW President Bob King is firing back.

(Read More…)

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