Two days before the chief executives of Detroit’s Big Three - General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp. - march back to Capitol Hill to again petition Congress for a $25 billion bailout, details about each company’s plan to scale back operations are emerging. Each CEO - GM’s Richard Wagoner, Ford Chief Executive Alan Mulally and Chrysler’s Robert ...
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Filed under: Products and services, Hewlett-Packard (HPQ), Best Buy (BBY), Black Friday Dell Inc. (NASDAQ: DELL) came in second to global PC sales leader Hewlett-Packard Co. (NYSE: HPQ) during the Black Friday shopping frenzy and the ensuing weekend, according to analyst firm Thomas Weisel Partners. The report, however, analyzed sales only at a single retailer, Best Buy Co. (NYSE: BBY).Thomas W...
Filed under: Ford Motor (F), General Motors (GM), Employees, Financial CrisisThe Big 3 CEOs are trying to turn lemons into lemonade.After being pilloried by members of Congress for flying in separate corporate jets to beg for a $25 billion bailout from the federal government, Rick Wagoner of General Motors Co. (NYSE: GM), Ford Motor Co.'s (NYSE: F) Alan Mulally and Robert Nardelli of Chrysler L...
Look at the GM (GM) 10-Q. The company had $3.3 billion in sales, general, and administrative expenses. That is all of those white collar workers, the R&D and product development staffs, the marketing men and dealer relations people, and the accountants in the basement of the headquarters in downtown Detroit. Ford's (F) number is nearly as large and Chrysler's must be $2 billion. Robert Nard...
The National Bureau of Economic Research, the official U.S. arbiter for declaring recessions, today announced that - surprise! - we’re in a recession, and have been since December 2007. I’m not sure who is actually surprised to hear that news; but nonetheless investors used that development and other fresh signs of economic trouble as a pretty good excuse to take some profits after ...
Not a good day for Dell (DELL) shares, which is down even more sharply than the overall market. Thomas Weisel analyst Doug Reid this morning noted that he is “incrementally more cautious” on the company after a survey of 35 “PC experts” over the Black Friday weekend at Best Buy (BBY) stores. Reid writes that Dell remains “a weak competitor” in the retail chan...
Filed under: Industry, Ford Motor (F), General Motors (GM)When the CEOs of General Motors Corp. (NYSE: GM), Ford Motor Company (NYSE: F) and Chrysler again take the steps up to the U.S Congress tomorrow, they will again try to convince U.S. lawmakers that a $25 billion injection into all three companies will somehow stave off their collective death along with over a million U.S. jobs that would...
It is already December and it is time for corporations to have at least started their reviews for how to improve in 2009. Those reviews will involve many management reviews, and many companies would do better with a new CEO. General Motors Corporation (NYSE: GM) may seem like too easy of a pick to start out with on a list of companies which need to replace their CEO. But Rick Wagoner needs to l...
Filed under: Ford Motor (F), General Motors (GM)Just in case the US Congress will not bailout Ford (NYSE:F) and GM (NYSE: GM), the car companies are turning to the Swedish government to help their Volvo and Saab units. The government there does not want to see a lot of lost jobs, so it might just put up some money to help out the US firms. According to the FT, "Stephen Odell, Volvo's chief exec...
Serena Ng reports: The Nasdaq has extended discounts to employees of its listed companies. (Nasdaq.com) Retailers, already grappling with slowing sales, are hoping that Black Friday and this year’s holiday shopping season brings a much needed boost. The Nasdaq Stock Market is trying to lend some of them a helping hand. Exchange operator Nasdaq OMX Group recently launched a program that pr...