Skip to main content

financials

  • 0
    REPORT: Nissan ready to say "Mission Accomplished" on recovery work
    1256425380

    Some companies respond to "losing money at a frightening pace" by studying the problem at length as they continue to lose more money, by asking for more money or, in the worst cases, not doing anything at all. Nissan didn't do any of those things: after posting a loss of $2.4 billion in the ...

  • 0
    REPORT: 'Old' Chrysler defaulting on loan obligations
    1252444800

    Before there was a Motors Liquidation Co, post-bankruptcy GM's hived-off shelter for useless assets, there was Old Carco LLC. That's the company Chrysler built to house its useless assets, and unsurprisingly, it doesn't have good news for unsecured creditors. Old Carco was left with liabilities ...

  • 0
    Tata gets private-sector loan, doesn't need UK government money
    1250168340

    Tata's target was £1 billion ($1.65B U.S.) in loans to keep the JLR group going. And while Tata is in talks with the U.K government about providing a large chunk of that, some of the government's terms -- like veto power over management decisions-- prevented Tata from pulling the trigger. ...

  • 0
    REPORT: New GM entitled to $16 billion in federal tax breaks courtesy of Old GM
    1249388820

    Due to what appears to be a slight (additional) bending of the rules, the "new," post-bankruptcy General Motors has been allowed to carry the $16 billion net operating loss that was created by the "old" GM. That means that New GM will not have to pay taxes on its profits for a while, because the ...

  • 0
    REPORT: VW leans on Porsche, Porsche responds, "We will not accept extortion."
    1246282020

    Porsche maintains it still has its mojo, but Volkswagen is treating the company like Porsche's got lunch money and VW is hungry. VW -- which Porsche effectively owns -- loaned Porsche €700 million ($983.8 million) earlier this year, with Porsche due to pay it back in September. As collateral ...

  • 0
    REPORT: Daimler, Porsche dismiss talks of stake as "speculation"
    1245680880

    Daimler's Dieter Zetsche has called 2009 a "Darwin year" for the car business, with the weak and the lame being pulled down by larger forces. Surprisingly, Porsche was one of those businesses that nearly went under, and it has been looking for help almost anywhere it could get it. Reuters says that ...

  • 0
    GM grants reprieve to 30 dealers, reviewing more
    1244730540

    General Motors wants to shrink its dealer network by around 2,500 outlets and has sent closure notices to more than a thousand already. Still, the General has left a door open that allows affected dealers to appeal the decision and show proof of why they should not be cut from the herd. According ...

  • 0
    Dealer Bailout: Chrysler to redistribute all new inventory
    1244496420

    After the suggestion of Congressional hearings on the matter, Chrysler's Jim Press assured Senator Kay Bailey Hutchison (R-TX) that Chrysler dealers with leftover inventory after June 9 would "receive a fair and equitable value." It appears that Chrysler is making good on that promise. The ...

  • 0
    Chrysler bankruptcy taken to Supreme Court by unhappy shareholders
    1244464080

    As the movie Hoosiers amply demonstrated, Indiana natives don't quit. That's also true for three Indiana state pension funds who have fought Chrysler's bankruptcy all the way to the federal appeals court in New York and, having lost their case there, are filing papers with the Supreme Court ...

  • 0
    FOLLOWUP: Chrysler, Fiat reportedly agree to honor lemon law claims
    1244239080

    On a recent episode of The Chrysler Files, customers who purchased Chrysler vehicles that were later officially certified as lemons were being reimbursed by the company with checks... that bounced. The snafu stemmed from the fact that while said claims were made before Chrysler's bankruptcy, after ...

  • 0
    REPORT: GM bondholders give go-ahead to revamped deal, bankruptcy still expected
    1243533600

    Yesterday, General Motors and its bondholders had officially called it quits, and GM was headed for a certain and certain-to-be-rocky bankruptcy. Today, according to a company filing, The General and the necessary chunk of its bondholders have come to an agreement, and the company looks to be ...

  • 0
    GM and Chrysler CEOs called to D.C. to explain dealer closings
    1243340940

    The situations with GM and Chrysler are beginning to look like what happens after a fumble in an NFL game: a dozen men pile on top of each other all trying to get the ball. The difference in the case of GM and Chrysler is there are far more than two teams struggling for the prize. The latest to hop ...

  • 0
    Look Who's Talking Again: Porsche, VW resume negotiations
    1242995160

    The way things read, Porsche might not have to get a merger deal done with Volkswagen, but it would appear to be in the carmaker's best interests if it does. The holdup seems to be Porsche – since VW still doesn't know what Porsche's financial situation is, talks broke down earlier this week. ...

  • 0
    Who are Chrysler's top ten creditors? The answer may surprise you
    1242250140

    Chrysler's top ten creditors are owed about $400 million, and the top two creditors account for nearly $130 million of that. The company first in line for payment is Ohio Module, which is a subsidiary of Hyundai Mobis, which is in turn a publicly traded subsidiary of Hyundai. Ohio Module makes ...

  • 0
    REPORT: Chrysler affidavits reveal crippling problems that hurt chances for success post-bankruptcy
    1242235740

    History could eventually reveal that Chrysler declaring bankruptcy may have just been the easy part. According to CNN, affidavits taken from Chrysler engineers and executives do a pretty good job of showing that things will get really tough when it's time for the automaker to start making cars ...

  • 0
    Chrysler bankruptcy lawyers reportedly ask to be paid up-front
    1242225000

    Attorneys from Jones Day law firm representing Chrysler during bankruptcy have taken the unusual step of asking the judge to "give their fees special priority." Two reasons have been hypothesized for the move: the lawyers don't think there will be any money for trade debts from the leftover pieces ...

  • 0
    Carlos Ghosn vows he won't depart Nissan until it returns to profitability?
    1242168000

    Carlos Ghosn became Nissan's chief operating officer in 1999, initially declared that he would remain in the job for a maximum of ten years. At the time, Nissan had $13 billion in debt, a history of losses, and an almost completely forgettable product lineup. Now, on the eve of his ten-year ...

  • 0
    Shaken, Not Stirred: Aston parent company reportedly defaults on $100M Islamic bond
    1242160800

    Investment Dar, the Kuwaiti firm that owns part of Aston Martin, has reportedly defaulted on payment for a $100 million Islamic bond that was due on April 27. In the process, Bloomberg says it has become the first Persian Gulf company to default on an Islamic bond. In December of last year, Dar was ...

  • 0
    Porsche and Piech companies to own about half of post-merger VW?
    1242053820

    Porsche's merger with Volkswagen is a step back from Porsche taking outright control of VW, something the automaker has been fighting various German entities to do for over a year. The willingness to co-exist is being put down to Porsche's debt levels, which can't be easy to refinance when banks ...

  • 0
    Chrysler's dissident lender group withdraws objections
    1241821860

    There was a minority group of some 20 Chrysler lenders that were fighting the repayment arrangements Chrysler was trying to make before Chrysler declared bankruptcy. Led by Oppenheimer and Stairway Capital, they were owed $2.9 billion and didn't feel they were getting all they could. After Chrysler ...

Loading

Loading
Autoblog iPhone App
Shop for a vehicle