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 are holding on to their money like a toddler guarding his last chocolate Easter bunny.
If $120+ per barrel of black gooey stuff of puts you in a bad mood, you might not want to read this. According to energy strategist Argun Murti of Goldman Sachs, "Surging demand was increasingly likely to create a 'super-spike' past $200 in six months to two years' time." Yikes! Ethel, get in the ark! No, first help me with this pair of aardvarks!
After months of outrageous oil price spikes, we realize that the shock value of $100 to $105/barrel is fading fast, so we're going to skip ahead to $200/barrel. The finance wizards at Goldman Sachs have raised their outlook for 2008-2012 oil prices by $15 to a high end of $135 per barrel, but a major disruption could make matters much worse. How bad could it get? Goldman Sachs seems to think a spike to $150-$200/barrel is a possibility.
Oh boy. It looks like the $5.8 billion loss Ford just reported isn't the end of the red ink for the foreseeable future. On Oct. 23, new Ford Motor Co. CEO Alan Mulally had to announce those huge third-quarter losses, the biggest quarterly loss since 1992. The Premier Automotive Group (the luxury group that includes Land Rover, Aston Martin, Jaguar, and Volvo), alone was responsible for $600 million of that loss. Now the company has announced that fourth-quarter earnings will also be dismal due t
In an effort to firm up its finanaces, General Motors announced today that it has sold a majority interest in GMAC Commercial Holdings Corp. from the company's financing division, GMAC (General Motors Acceptance Corp.).