TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Chrysler's Non-TARP Lenders BoneYard submits:A group that holds nearly $1 billion of Chrysler LLC loans said its offer to restructure the auto maker's debt has been "flatly rejected or ignored," even as the group claimed it offered to take a 40% reduction in value on the debt.The group, made up of smaller organizations which invested in Chrysler, said it wants to see the company emerge as a viable entity and won't initiate a bankruptcy filing. It said that decision should be made by the company and the federal government.Complete Story » seekingalpha.com |
Auto Sales: The Problem with Opinion Polls The Baseline Scenario submits: By James Kwak Back in December, when people actually had debates about whether or not Chrysler and GM (GMGMQ.PK) would go bankrupt, one of the claims made by the anti-bankruptcy camp was that 80% of people would not buy a car from a bankrupt automaker. That number came from a CNW survey; here’s a summary from Motor Trend (hat tip Jane Hamsher):Complete Story » seekingalpha.com |
Cash-for-Clunkers: Who's It Hurting? TheCarConnection.com submits: By Bengt HalvorsonWe've heard a lot about the positives of the Cash-for-Clunkers program in recent days. It gets gas-guzzling vehicles off the road in favor of more fuel-efficient, potentially safer ones, and has brought business back to blighted dealerships and auto malls.Complete Story » seekingalpha.com |
TransDigm: Issuing Debt for Dividends? Ockham Research submits: The Wall Street Journal is reporting that aircraft parts supplier TransDigm Group (TDG) is planning to float $425 million worth of debt for the primary purpose of giving a special dividend to shareholders. Management has said that $360 million of the debt offering will be used to pay a special cash dividend expected to be $7.50 to $7.70 per share. The article in The Journal makes some points as to the rationale behind such a move. The added debt increased TransDigm’s borrowings to 4.3 times its earnings before interest and taxes, compared with 3.1 times before last week’s deal. The expected dividend of $7.50 to $7.70 a share is equal to nearly all of the net income that TransDigm reported since the end of fiscal 2003, according to Moody’s Investors Service.Complete Story » seekingalpha.com |
If Wall Street Ran the Airlines... The Baseline Scenario submits: by James KwakNew York Times headline: “U.S. Limits Tarmac Waits for Passengers to 3 Hours.” Just imagine …Complete Story » seekingalpha.com |