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AUTOS' NEWS WORLDWIDE
* UK - GM reportedly demands billions for tie-up
London,UK -MarketWatch/The Wall Street Journal -Sep 27, 2006: -- General Motors is reportedly demanding a "multibillion" dollar payment from Renault and Nissan as the price to join the French and Japanese companies' alliance, according to a published report on Wednesday... GM executives say they deserve a payment -- which would come on top of any share purchases made by Renault and Nissan -- because they enjoy a stronger global reach... Carlos Ghosn, chief executive of both Renault and Nissan, reportedly has expressed disappointment so far in GM's approach... GM shares moved up 1% in early trading Wednesday in New York, building on a 2.6% gain in the previous session. Nissan's U.S.-listed shares rose 2.1%... Renault shares edged up 0.4% in Paris...
* USA - Wagoner says we don’t need a partner
USA -Automotive Blog/VaroomVroom -Sept 29, 2006: -- Rick said it; General Motors does not need a partner to complete its recovery. According to an interview with Wagoner by Automotive News, the CEO of GM thinks ‘It’s not logical or responsible to say we must have a partner to recover.’... Wagoner’s interest in any venture, simply put, is about selling more vehicles. As for any new deal with Ford, Wagoner says “who knows?... Let’s face it, Nissan and Renault are small potatoes compared to GM. Wagoner is pretty confident that they can turn around their fortunes in North America...
* USA -Ford, GM Can Run With New Mechanics
USA -RealMoney.com/TheStreet.com, by Jim Cramer 29 Sept 2006: -- Is anyone at Ford actually making cars? How overstaffed is this place? I thought they had done repeated restructurings, and yet they still have thousands of redundancies?.. It is amazing to me that no matter how many people Ford or General Motors seem to layoff, it doesn't seem to impact the companies... These stocks don't have just further to run, they can run much further. Since GM was at $18, I have said it is going to $40. I believe that's totally true today. Ford feels like it can go up 50% before it is fully valued... Don't forget, we have not yet seen GM's earnings without these people. I think they will be terrific...
* USA - GM to Employ Global Design in US
USA -dexigner.com -30 Sept 2006: -- General Motors will build at least one car from its new global family of rear- and all-wheel-drive cars in the United States, Vice Chairman Bob Lutz revealed in an interview at the Paris auto show Thursday...
* USA - Ford Motor Credit to cut 2,000 jobs
DETROIT,Mich,USA -Reuters -Sep 28, 2006: -- Ford Motor Credit, the financial arm of Ford Motor Co. on Thursday said it would cut 2,000 jobs -- almost a quarter of its staff in North America -- and close branch offices in order to cut costs... Ford said the planned job cuts, which follow a similar program of cost-cutting by Ford's loss-making auto operations, would be made through a combination of attrition, early retirements, voluntary separations and, if necessary, involuntary separations...
* China - Chinese Automaker Likely To Pair With Chrysler
Shanghai, China -All Headline News, by Nicole King -Sept 30, 2006: -- Automaker DaimlerChrysler AG is in talks with China's Chery Automobile to offer their cars for sale in the U.S. The deal could be finalized soon... A source close to the investigation says the two are in talks to make subcompact cars together. One option is for Chery to provide models and have the cars made at their plants, but funded by DaimlerChrysler and sold in the U.S. under the Chrysler brand...
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