![[Valid Atom 1.0]](valid-atom.png "Validate my Atom 1.0 feed")
AUTOMAKERS' CRISIS * USA - Chrysler Could Exit Bankruptcy This Week; Production Restart Imminent
Chrysler LLC’s bankruptcy could end as early as Thursday afternoon, setting the stage for a production restart, if a judge agrees to expedite the appeals process
New York,NY,USA -WardsAuto, by Eric Mayne -Jun 1, 2009: -- ... The auto maker, which will become known as Chrysler Group LLC, has petitioned the U.S. Bankruptcy Court, Southern District of New York, to compress the standard 10-day window for addressing challenges... An agreement struck with Fiat Auto Group was approved late Sunday by the bankruptcy court... In another sign that it might soon be business as usual at Chrysler, union officials tell Ward’s, the auto maker has targeted June 29 to restart production at its plants in Sterling Heights, MI; Belvidere, IL and Windsor and Brampton, ON, Canada... Meanwhile, preliminary indications suggest May sales were stronger than expected... Chrysler will report May delivery totals June 2... (Photo: Dodge Ram. Production could resume July)* Japan - Isuzu: Have Y1.6 Billion Accounts Receivable From GM
Tokyo,Japan -Dow Jones/CNN Money, by Yoshio Takahashi -June 2, 2009: -- Isuzu Motors Ltd. said Tuesday that it had receivables totaling Y1.7 billion from General Motors Corp. as of May 31... The Japanese truck maker, which runs joint operations with GM such as in engine production, said it will revise its earnings forecast for the current fiscal year through March if necessary...* USA - Hummer a rocky deal for Sichuan Tengzhong?
New York,NY,USA -The Deal -June 2, 2009: -- With reports that Chinese truckmaker Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. has won the auction for bankrupt General Motors Corp.'s Hummer truck business, thoughts about nationalism are bubbling up in the media... While the Committee for Foreign Investment in the United States, or CFIUS, may review the sale of Hummer, odds are it will cruise through the process without any speed bumps because GM is simply selling a consumer and commercial truck business, and not a military business. Although GM's Hummers are inspired by defense contractor AM General LLC's HummVee, there is little connection beyond the so-called design language. In other words, no sensitive military secrets are likely to fall into Chinese hands over this deal... The New York Times story that broke the news about Sichuan's winning bid didn't directly address the CFIUS process, but it did address the tenuous connection between GM's Hummers and AM General's HummVees. The Times instead speculated on another difficulty Sichuan might have: continued sales of the Hummer...
Labels: automakers' crisis
posted by Unknown @ 5:13 PM
0 Comments:
Post a Comment
<< Home