An Occasional Molling

Ford has hit a home run in negotiations with the UAW, setting a precedent for GM and Chrysler and freeing up the cash it needs to stay out of the government bailout cookie jar.

Continue reading Ford, UAW cut deal on retiree health benefits

If General Motors fails, nearly three million jobs could be lost in 2009 as part of a cascading collapse of suppliers, shipping companies and ultimately dealers. So argues General Motors in a video released as the embattled automaker campaigns for immediate federal aid in the wake of a cash-flow crisis.

Released on Sunday, GM’s four-minute video highlights their role as bedrock of the U.S. economy. GM employs more than 1.7 million people, either directly or through parts suppliers, subcontractors and dealers. If either GM, Ford or Chrysler fails, panic over the impact on suppliers could trigger an industry-wide panic.

Continue reading GM to DC: Loan $25B now or lose $150B later

Over the last three months ending Sept 30, General Motors has lost $46 million each day.

Announcing its third quarter earnings today, General Motors posted a $4.2 billion dollar loss, its fifth straight losing quarter and in an amount far greater than analysts had expected. In response, GM shares fell 13 percent to . . . → Read More: GM posts $4.2 billion Q3 loss; exits Chrysler merger talks

Last night — without explanation from either the dealer’s owner or parent company Volkswagen — Lamborghini of Orange County, the world’s largest Lamborghini dealer, abruptly closed its doors.

Across the nation, dealers have closed on account of slow sales or the inability to extend credit lines. But last year, the Southern California dealer . . . → Read More: World’s largest Lamborghini dealer shuts its doors

Falling gas prices and rising inventories weren’t enough to offset a tight credit market, leading to another awful month of sales for all automakers.

On average, October sales were down 32 percent from a year ago, with General Motors hit the hardest. Not only did GM’s HUMMER brand lead the industry with sales . . . → Read More: GM, Chrysler lead horrific month as October sales plunge