Auto Sales The Lowest In Half A Decade, Just Coincidence FCA Will Join Ford, GM Ditching Monthly Sales Estimates

By |2019-05-02T17:37:15-04:00May 2nd, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

FCA, formerly Fiat-Chrysler, is the latest automaker to switch from a monthly sales report. Joining GM and Ford, beginning in October all three of Detroit’s big car companies will be publishing quarterly sales figures. The announcement comes at an auspicious moment. As with the other two, FCA claims the change is being done in the [...]

Transparent (Auto)Motives

By |2019-04-03T11:34:41-04:00April 3rd, 2019|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

Those were the days. The minivan was king, a relatively new phenomenon that domestic automakers were hoping would help them stave off increasing import pressure. In 1990, Chrysler, for example, had used the success of its Dodge Caravan and Plymouth Voyager, along with the introduction of its Town & Country luxury (I suppose) model, to [...]

GM CEO Forced To Resign; Obama Rejects Bailout… For Now

By |2009-03-30T15:09:23-04:00March 30th, 2009|Markets|

General Motors and Chrysler seem to be running out of support in DC. In today’s speech, President Obama questioned the viability of both companies, saying more concessions were needed from stakeholders, while still emphasizing that he was “absolutely committed” to the survival of our domestic auto industry. Via MSNBC: President Barack Obama refused further long-term federal [...]

Bankruptcy Doesn’t Equal Death

By |2008-12-11T11:40:18-05:00December 11th, 2008|Economy|

Don Boudreaux, chairman of the GMU Department of Economics, takes on the myth that the Little Three automakers are too big to fail (via the WSJ): The spectacle of corporate magnates from Detroit pleading to be on Uncle Sam’s dole is a sordid one. So why aren’t more Americans appalled? One reason is widespread misunderstanding [...]

Why Should We Bail Out Detroit?

By |2008-11-19T21:32:55-05:00November 19th, 2008|Economy|

The CEOs of the Big Three auto makers, which are destined to soon be the big two or the big one or the small three, have been on Capitol Hill for two days begging for money so they can save the jobs of the UAW. The UAW sent along a nearly literate representative to assist [...]

The Big Three?

By |2008-11-07T16:28:34-05:00November 7th, 2008|Markets|

Via MSN Money: The heads of Ford, Chrysler and GM — once called the Big Three due to their dominance of the industry — went to the Congress seeking $50 billion in federal aid to help them ride out the crisis. “The U.S. government’s actions to help stabilize the credit markets and eventually ease the [...]

Jamie Dimon Does Not Want to Sell Cars

By |2008-10-16T20:18:24-04:00October 16th, 2008|Economy|

The WSJ is reporting that the merger talks between GM and Chrysler are heating up with Jamie Dimon providing the heat: General Motors Corp. and Chrysler LLC are accelerating merger discussions amid strong support from potential lenders that are eager to see a deal done. GM, set to report dismal third-quarter earnings in coming weeks [...]