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Editorial: How to Give GM DOE Loans AND Protect Taxpayers[Another one from our anonymous bankruptcy lawyer.] I've had a look at the rules for the $25b Department of Energy (DOE) direct loans for development of advanced technology and manufacturing facilities. To qualify, an automaker must prove that it is solvent. Either that or it must meet one or mor... |
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Ford Posts $3b Q3 Aftertax Operating Loss , Burns $7.7b in Cash; Cuts Jobs and AdsSmaller loss, bigger burn. Relative to last year, The Blue Oval Boyz narrowed their Q3 losses from $380m to $129m. But the cash burn is, as expected, intense. The Detroit Free Press tells the tale. “The automaker’s cash reserves dropped from $26.6 billion at the end of the second quar... |
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![Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts [Industry News]](http://statics.keegy.com//img/postsh/1D/27/th2-ford-announces-129m-in-third-quarter-losses-forecasts-job-cuts-industry-news.jpg)
Ford Announces $129M In Third Quarter Losses, Forecasts Job Cuts [Industry News]Ford has announced third quarter losses of $129 million after pre-tax losses of a total of $2.7 billion. These results are an improvement from the company's $380 million loss in the third quarter of last year. This news comes after a quarter ravaged by the twin problems of high gasoline prices and o ... |
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GM posts massive loss, nears minimum level of cash to operate, ends Chrysler merger talksGeneral Motors posted a $4.2 billion operating loss during the third quarter of 2008 - a far larger amount than had been expected by analysts - the automaker announced today. The automaker has suspended its talks over a possible merger with Chrysler and said that its cash liquidity for the rest o... |
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Ford Posts $129 Million 3Q LossFord Motor Co. says it lost $129 million in the third quarter as the struggling automaker burned up $7.7 billion in cash. The automaker also said Friday it will cut another 10 percent of its North American salaried work force costs as it tries to weather the worst economic downturn in decade... |
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G.M. Suspends Merger Talks With ChryslerGeneral Motors disclosed Friday that it was suspending its merger talks with Chrysler. The disclosure came after the automaker delayed reporting a larger-than-expected $4.2 billion loss in the third quarter until the late morning and said it was in danger of running out of cash. G.M.’s resu... |
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