Category Archives: financial results

Final Winter NAIAS Charity Preview Raises $4,000,000

Now in its 43rd year, Charity Preview has raised over $121,000,000 for southeastern Michigan children’s charities since the Detroit Auto Dealers Association established the event. Continue reading

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Volkswagen and Ford Announce Alliance Without Cross Equity

The history of such industry collaborations is difficult and littered with road kill. The problem is whether the two global giants and hundreds of thousands of workers can walk in step together or stumble over each other. Continue reading

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GM Projects Strong Earnings, Improved Cash Flow in 2019

In 2019, despite a diminishing car market, GM expects the overall U.S. market to remain strong, projecting total industry sales in the low 17-million range. The company will benefit from a full year of volume from GM’s all-new Chevrolet Silverado and GMC Sierra light-duty full-size pickups. The trucks have contributed to retail market share growth in the light- duty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors. Continue reading

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Ford to Restructure European Business Once Again

Near term, Ford is cutting costs by a reduction of surplus labor across all functions – salaried and hourly. A change in management structure, announced in December, already is underway through Ford’s hoeing and weeding its global salaried workforce. Continue reading

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Corporate Raiders After Ford Motor Stock at Deep Discount

Baker Mills’ offer price of $7.00 per share in cash is approximately ~17.84% lower than the $8.52 closing price of Ford common stock on Dec. 14, 2018, the last closing price prior to commencement of the offer. The markets are closed today. Continue reading

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Japanese Scrooges Run Amok as Carlos Ghosn Re-Arrested. Christmas Locked Up for the Gaijin!

Prosecutors then re-arrested Ghosn on new charges in a sordid tale that goes back to Ghosn’s first arrest on 19 November 2018. Ghosn could now be in a tiny jail cell for another 10 days or more, where he has been locked up since last month on initial allegations of financial misconduct. Continue reading

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GM to Provide Financial Support to Fired Union Workers

GM’s November announcement impacts 2,600 hourly workers and approximately 340 salaried or contract workers at the Oshawa Assembly Plant once a crown jewel in the GM collection for its productivity, flexibility and quality. GM Canada will continue to discuss its announcements regarding Oshawa Assembly with Unifor, the union it has a no close contract with in force until the end of 2019. Continue reading

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No Deal Brexit to Cost UK Auto Sector £9 Billion Per Year

It’s not only angry Trump voters who are self-destructive, the UK under the Brexit fiasco is about to lose £9 Billion a year due to a conservative Republican-like temper tantrum that will materially hurt middle class workers, as well as society as a whole. Continue reading

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Making the Budget Deficit Great Again. November at $203 billion. Interest for Debt up $5 Billion

Not that it matters according to traditional Republican double-speak, such gigantic deficits are only a problem if they occur when the Democrats are in power. When Republicans cut taxes for the wealthiest and run up huge deficits it’s – don’t laugh – good for the economy. Worse, the federal budget deficit was $303 billion for the first two months of fiscal year 2019, says CBO. Continue reading

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Ghosn, Kelly and Nissan Motor Corp. Indicted for Violating The Japan Financial Instruments and Exchange Act

Thus – as predicted – this case, besides from revealing the rift between Nissan and its European partner Renault that saved it from bankruptcy, has cast a cold beam of light on Japanese corporate governance – or is that non-governance? – practices. Continue reading

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Auto Loans – Payments Higher, Subprime Lending Lower

Some look to vehicle affordability trends – or lack thereof – as a driving force behind consumer choices. The monthly payments for new and used vehicles again reached record highs in Q3 – $530 and $381, respectively – and the gap between new and used monthly payments continues to widen, reaching $149. The difference between leasing and buying on roughly the top Ten sellers is about $100 a month less for leasing. The average loan is now 72 months, but consumers on average change vehicle every 34-36 months. Continue reading

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Restructuring Storm Building as Ford Announces Senior Retirements in Treasury, Product Development, Manufacturing

A couple of the exits are noteworthy for signaling that major disruptive actions are about to occur. For example – was Kent responsible for the addled brained idea that Ford would cut its dividend that Ford Family members depend on? Nevertheless, the pressure remains for Ford to cut costs and start once again, yet again on a restructuring plan. to increase shareholder value. Continue reading

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General Motors Revises 2015 Strategy to Slash Costs and Streamline Engineering as Market and Competition Toughen

General Motors (NYSE: GM) said this morning that it will accelerate its business plan, building on the strategy it laid out in 2015 that has resulted in lack-luster returns for shareholders. GM is acknowledging what most automakers hold private: the marketplace is moving faster than automakers. Continue reading

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Nissan Board Deletes Carlos Ghosn as Chairman and Director

The board of directors for Nissan Motor Co. met today at the company’s global headquarters in Yokohama, Japan. The board endorsed the long-standing and profitable Alliance partnership with Renault saying, “it remains unchanged” and that “the mission is to minimize the potential impact and confusion on the day-to-day cooperation among the Alliance partners.” Continue reading

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Carlos Ghosn Given Temporary Reprieve by Renault Board

It was the latest twist on an ongoing saga that involves alleged tax evasion by Ghosn. It also raised, yet again, the embarrassing issue that foreign executives demand and receive far greater compensation than their Japanese equivalents. Continue reading

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