TOP 100 TRANSPORTATION AND LOGISTICS SITES
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| Why We Should Thank the Chrysler Holdouts Felix Salmon submits: Joe Wiesenthal asks how I can believe that bankruptcy is a good thing for Chrysler, and yet at the same time rail against the very hedge funds which drove Chrysler into bankruptcy. Quite easily, is the answer, so long as the creditors don’t get what they’re looking for out of the bankruptcy process. And although it’s very early days yet, I do have faith that the bankruptcy court will tell the creditors to take a hike if they try to demand much more than what the Obama administration was offering them. The key thing to note is that the government already has the biggest senior creditors — the big banks — on its side. Which means that getting a supermajority of bondholders to agree to force the hold-outs to take the government’s offer might not be too difficult. Bloomberg explains:Complete Story » seekingalpha.com |
Lear Files for Bankruptcy - Who Is Next? Trader Mark submits:As we said a month ago in [Jun 4, 2009: Detroit's Woes Wound an Army of Suppliers] I think many people do not understand the daisy chain that is the automotive industry - there are countless suppliers of various size. They have been in a "right sizing" for a decade now, decimating the ranks (we've lost about half of them as we offshore) but there are still literally thousands out there. Lost in the "headline news" of the week (green shoots mind you) was the bankruptcy of Visteon (yes last week) - which was spun off of Ford much like Delphi (in bankruptcy since 2005) was spun off of General Motors.Complete Story » seekingalpha.com |
Used Car Market Looks Strong Calafia Beach Pundit submits: Mark Perry has some color commentary on this, but I'll add the observation that used car prices have rebounded to pre-recession levels in a very short time frame: just 22 months. Looking back at the 2001 recession, it took 54 months for prices to recover to pre-recession levels.That's amazing, since the 2001 recession was far milder and shorter than the recent recession. But it highlights another important fact, which is that the 2001 recession was a classic, monetary-induced recession, whereas the recent recession was a financial-crisis-induced recession. Going into the 2001 recession, Fed policy had been extraordinarily tight for several years: real interest rates were unusually high, commodity prices and gold prices were falling, the dollar was very strong, and inflation was relatively low. The recession we have just come out of was quite different, since the Fed had not been very tight: real interest rates were relatively low, commodity prices and gold prices were quite high, the dollar was very weak, and inflation was rising. Plus, the Fed has been extraordinarily accommodative during the last half of the recent recession, displaying a rare, aggressively proactive stance.Complete Story » seekingalpha.com |
Ford's Electric Car for 2011: One for the Masses? By John Addison My test drive of the new Ford (F) electric car for 2011 demonstrated that Ford is building an electric car that millions will want. The Ford Focus EV prototype provided a quiet and smooth drive for a prototype. One Ford engineer indicated that he was going beyond a 60-mile daily range in Michigan without nearing battery depletion.Complete Story » seekingalpha.com |
Lockheed Martin Awarded $842 Million F-16 Contract by Morocco Zacks.com submits: Lockheed Martin Corporation (LMT) was awarded a contract worth $841.9 million for supplying 24 F-16 Fighting Falcon jet fighters and related equipment for the government of Morocco. This will boost the Aeronautics segment which in recent time had witnessed lower volume from the F-22 program. The F-16 Fighting Falcon jet fighter aircraft was developed by General Dynamics Corporation (GD) in 1976. However in 1993, General Dynamics sold its aircraft manufacturing business to Lockheed Martin. Complete Story » seekingalpha.com |