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financials

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    REPORT: Nissan ready to say "Mission Accomplished" on recovery work
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    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 ...

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    REPORT: 'Old' Chrysler defaulting on loan obligations
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    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 ...

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    Tata gets private-sector loan, doesn't need UK government money
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    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. ...

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

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

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    REPORT: Daimler, Porsche dismiss talks of stake as "speculation"
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    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 ...

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    GM grants reprieve to 30 dealers, reviewing more
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    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 ...

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    Dealer Bailout: Chrysler to redistribute all new inventory
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    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 ...

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    Chrysler bankruptcy taken to Supreme Court by unhappy shareholders
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    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 ...

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    FOLLOWUP: Chrysler, Fiat reportedly agree to honor lemon law claims
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    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 ...

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