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08 Nov

ING announces plan to split into two units to Satisfy EU

ING announces plan to split into two units to Satisfy EU

Dutch ING Group NV (ING.AS) will split itself in two and launch a 7.5 billion euro ($11.3 billion) rights issue as part of a deal with the European Commission. Shares in Belgian financial group KBC (KBC.BR) fall as much as 13.3 percent to 27.33 euros, their lowest point since Sept. 4, with analys ...


Ford Death Watch 49: Gypsies, Tramps and Thieves

Will Ford go bankrupt? I doubt it. Not while the “bad” automakers that suckled on the federal teat go on and on and on and on. A FoMoCo C11 would expose the government’s Detroit bailout for what it was/is: unfair, ineffective, ill-conceived and unsustainable. Politically, Ford&r...

Bury The Trut...out Cars October 26

GM Buys Up Daewoo Share Offering, Increases Stake To 70 Percent

$413m isn’t a ton of money for one of the largest global automakers, but GM’s purchase of Daewoo’s entire share offering still doesn’t completely add up. After all, GM was barred from spending US taxpayer bailout money on overseas assets. And it’s not like GM wanted ...


Bailout Watch 589: GM C11 Lawyers Score $23m

Is anyone surprised that the lawyer who guided “old” GM into the dustbin of history scored $255,555 a day for 90 days? The $23 million price tag seems like small beer to me. According to The Detroit News, “AP Services, headed by Al Koch, who doubles as the chief restructuring of...

Bury The Trut...out Cars October 26

Top Employees Flee Pay-Limited Firms

Remember that plan by Obama’s pay czar to radically limit executive pay at bailed out banks? And how some of us were predicting that they’d just go to companies whose pay was not limited?  Well, it didn’t take long. Even before the Obama administration formally tightened ex...



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