Tag: autos

Government Motors vs. Ford

With General Motors (GM) trading at approximately $1 it is more apparent that a restructuring deal is necessary and imminent.   There are currently two parties involved in the negotiations with the U.S. Government / UAW Retired Workers on one side and individual / institutional investors on the other.  ...

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GM’s New Plan: Get ready for huge layoffs

In a recent internal memo, General Motors’ (GM) management has begun the grim task of preparing employees for the inevitable: Job cuts… MASSIVE job cuts.

In order to remain complaint with the provisions of the $4 billion of “loans” from the TARP, GM is looking for ways to survive and restructure...

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GMAC is Giving Away Your Money

GMAC, the main source of auto loans for General Motors (GM), was recently approved as a bank holding company allowing them to access funds from the Federal government. Within days after the approval, taxpayers provided the lender with $6 billion of funds through the TARP in an effort to help...

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Auto Industry Promises: Can We Trust Them?

The headlines are all a bustle over the drama that will likely unfold this week when the Beggars of Detroit come to visit the Interrogators of D.C. Perhaps the most concerning part of this bailout is that the facts keep changing.The latest reports show that the original $2 billion monthly...

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Audio: Andrew on NPR on Auto Bailout

Today I spoke about the problems and benefits of a Auto industry bailout on NPR’s Day to Day program. From NPR:
The auto industry has been lobbying the president, president-elect and Congress for a bailout package of their own. Proponents of such a bailout say, if the domestic auto industry...

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Video: Andrew on Fox Business – Union Busting

I was asked to discuss the impact of unions on the automotive industry. The lead-in was a touch harsh as host Stuart Varney came on strong, wrongly accusing me of believing that unions were the main cause of Detroit’s problems. I helped him better understand that while unions are a...

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TDI Episode 70: The Auto Industry at a Crossroads

Guest: Professor Michael Greenberger follows up with the discussion on the Enron Loophole and how there is relief in sight. We last had him on when we were nearing a $145 barrel price for oil. Since then, we have noticed a significant drop...Why? He tells us and provides insight into the hearing oil problem we are about to see.

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Unions Continue to Kill U.S. Manufacturing

American Axle strike could be prolonged – UPI.com
American Axel made a profit of $37 million last year and wants to cut its wage and benefits package to a total of $20 to $30 per hour. They are currently paying $70 per hour, the News reported.

Is that right? $70 per...

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