General Motors may be down, but its not out. After telling some 2000 dealers it would not renew their franchise agreements last October, the company will bring back 600 dealers to its network. Looks like good news following Toyota’s huge recall problems… Read more…
I’ll admit I’ve been less than correct on Ford, I liked it at $6, loved it for pennies but I’ve yet to pull the trigger on the stock. I had though that if any of the Big Three were to survive it would be Ford, it pulled profits recently, had enough cash and credit to weather the storm and now it looks like its two domestic competitors are about to bite the dust. Read more…
As I sit here with the headlines, GM’s $15.5 Billion loss strikes me as one of the biggest problems facing the US stock market and its own existence. There are so many variables in the failure of GM to keep up with the automobile market. Their pension programs grew far too big, far too fast, the majority of their top selling cars are gas guzzlers and now they’re taking a huge hit just to bring back their off lease cars trucks and SUVs. Read more…
Not just but 2 years ago was Kirk Kerkorian (the Las Vegas real estate billionaire) heavily entangled in the General Motors corporation. Now after Ford’s profitability, the investor is chasing a serious stake in Ford. Kerkorian dumped GM in favor of more investment into his Las Vegas properties, neither of which have proven to be a good investment. GM is still suffering from large pension payments and Las Vegas has cooled with the economy. Read more…
So much has happened at General Motors in just the last few years. Kirk Kerkorian, a billionaire investor bought in heavily then sold out just a year later for his casinos. They’ve been sued numerous times for safety of vehicles. Employees have been fighting for their pensions. Now, 200000 sedans have been recalled for risk of fire. General Motors went as far to say that the car should not be parked in a garage until it has been checked. Read more…
The Dow has hit 6 year highs as it rose 71.24 to 11,354.49. Among the movers was GM as analyst move in to give their word about this potentially explosive stock in the future. GM moved up 1.74 to 23.15 a 8% percent increase in one day. Analysts are expecting GM to bring 15 percent increase in first quarter profit. Read more…
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