TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| GM: Still a Long Road to Hoe TheCarConnection.com submits: It's been a busy day for General Motors CEO Fritz Henderson. Not only did he reveal GM's third quarter financials, but he also announced the company's souped-up plan to repay $6.7 billion in loans from the U.S. government. While the financial report was reasonably upbeat (the company ended Q3 $1.2 billion in the red, but that's an improvement on analysts' $2.5 billion loss estimate), the real attention-grabber was GM's aggressive loan repayment plan: the company will now cough up $1 billion at the close of each quarter, beginning in December 2009. At that rate, GM's debt should be fully erased by July 2011 -- far ahead of the 2015 date agreed upon with the U.S. Treasury.Of course, that won't put GM in the clear -- not by a long shot. In total, General Motors took about $50 billion from the feds. Of that sum, $6.7 billion remains on the books as debt; the other $43.3 billion has been converted into the federal government's 61% stake in GM, and the feds hope to recoup that cash via stock sales when the company goes public down the line. (Whether the government's stake will ever be worth $43.3 billion is a matter for debate, although many on the auto industry task force would like to see $19 billion that GM received prior to bankruptcy written off, reducing the recoupable amount to $22.3 billion.)Complete Story » seekingalpha.com |
Despite Recall, GM Is Winner in Latest Industry Update Wall Street Strategies submits:We are through the second month of the 2010, and in my mind, the biggest winner was General Motors (MTLQQ.PK). The company announced Tuesday morning a 1.3 million vehicle recall but that shouldn't spoil the party for a great month. GM also reported that sales this month improved, giving an 11.5% rise year over year. But that includes Pontiac, Hummer, Saturn, and Saab, which in total sold only 3,102 units compared to 22,303 units sold in February of 2009. Only looking at the core four brands of Chevrolet, Cadillac, Buick, and GMC, sales improved 32.2% year over year as the concentrated marketing spend as well as new releases are beginning to pay dividends for the Company. Ford (F) on the other hand had another great month, and including Volvo, sales actually surpassed those of General Motors for the first time since 1998. Stripping out Volvo sales (Ford sold Volvo to China's Zhejiang Geely Holding Group and the deal is expected to close in the second quarter), sales were just below that of GM's (core 4). Ford reported that its market share gained three percentage points compared to last year and achieved a 17% share of the U.S. market, no doubt a good portion of that coming from Toyota.Complete Story » seekingalpha.com |
Ford Motor Company Q1 2010 Earnings Call Transcript Ford Motor Company (F)Q1 2010 Earnings Call TranscriptApril 27, 2010 9:00 am ETComplete Story » seekingalpha.com |
ArvinMeritor Sees Big Put Selling optionMONSTER submits: By Chris McKhann Shares of ArvinMeritor (ARM) have not responded well to Tuesday morning's earnings report, but option traders are calling a bottom. Complete Story » seekingalpha.com |
Honda: Fighting Harder for Emerging Sales Emerging Money submits:Honda (HMC) is angling for a bigger piece of the emerging markets transport business -- and heading off low-cost local competitors -- with a cheap motorcycle. The new $600 bike is aimed at China, Latin America and West Africa, where currently Honda's cheapest offerings are approximately 15% to 25% more expensive. (Click to enlarge)Complete Story » seekingalpha.com |