Cerberus Capital Management shot off a nine-page letter to investors outlining ways that Chrysler could sink, while also pointing out that they believe Chrysler's on the track for success. Some of the possible failure scenarios include a nasty recession, an extreme slowdown in the car market, or a further credit downturn. Credit is already looking green around the gills, and the potential for a widespread domino effect that starts with an implosion of the teetering mortgage business would be cat
Not long after announcing the largest vehicle recall in Chinese history, Honda announced today that it won't be leaving the U.S. out of its recall roundup. The Japanese automaker revealed a new recall for the United States that affects 165,000 vehicles that could develop engine problems from a sealer material that may leak onto wires in the engine and cause them to snap. Multiple complaints about the problem have been filed at Honda HQ, though none have led to crashes or injuries.
We're getting mixed signals from Ford. One week ago the automaker announced it was distributing bonuses to every single one of its salaried and hourly workers, just to say thanks for helping the company reduce costs, improve quality and reduce the ranks. Today we learn that Ford President of the Americas Mark Fields has told his workforce in a weekly webcast that the company earned poor marks on its own internal report card. The poor marks resulted from missing sales targets and not cutting mate