TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Fed Considers GM Buy-In: Digging a Deeper Hole Tom Lindmark submits:Not content with the hole it now occupies as a result of denying the obvious solution to the General Motors (GM) conundrum, the government plans to grab a bigger shovel and dig harder. Bloomberg is reporting tonight that the Obama administration is considering swapping its existing debt for equity in a new, supposedly slimmer and profitable GM that would emerge from bankruptcy. The logic according to the article is that if the government swaps its more senior debt it will put pressure on the other creditors and the union pension fund to negotiate. Unfortunately, bankruptcy proceedings often develop a life of their own in which reason and logic can become seriously twisted.Complete Story » seekingalpha.com |
Ford Realizes Higher Transaction Prices Dr. Duru submits: Ford (F) held its monthly sales conference call on June 2, 2009. While scanning a summary of the call, my eyes widened when I read that Ford achieved higher transaction prices in May. Given my continuing confidence that the Federal Reserve will win the battle against fears of deflation, I am always (opportunistically) alert to any evidence that inflation is taking root in the economy. Still...how could a car manufacturer, of all companies, accomplish ANY pricing power in this recessionary environment? I decided to listen to the call to get the full context. It turns out that changes in product mix drove the average transaction price higher: consumers bought well-equipped, higher-end models. Ford also reduced incentive spending although it was not clear to me whether this factored into average transaction price. Ford got a bit stingier, marketed and sold higher-end features, and its customers ate it up even as industry conditions remain tenuous at best. The strength in demand occurred in the last third of May. Here is a summary of the pricing and demand-related commentary from the conference call: Complete Story » seekingalpha.com |
ExpressJet Holdings, Inc. Q2 2009 Earnings Call Transcript ExpressJet Holdings, Inc. (XJT)Q2 2009Earnings CallJuly 22, 2009 10:00 am ETComplete Story » seekingalpha.com |
Penske Walks Away from Saturn Zacks.com submits: Penske Automotive Group (PAG) has declined to buy the Saturn brand from General Motors, despite nearing the end of the deal. The spokesperson of the Michigan-based second leading automotive retailer in the U.S. has explained that Penske was unable to find a manufacturer to make the Saturn models when GM stops producing them after 2011.In June, Penske had reached a tentative agreement with GM to purchase the brand. Under the deal, GM had agreed to manufacture three Saturn models beyond 2011, but afterwards Penske was supposed to manufacture the products made by a third-party manufacturer.Complete Story » seekingalpha.com |
TBS International Ltd. Q3 2009 Earnings Call Transcript. TBS International Ltd (TBSI)Q3 2009 Earnings CallNovember 10, 2009; 10:00am ETComplete Story » seekingalpha.com |