Posted by admin on May 9th, 2008
Ford Motor Co. said Friday it first learned that billionaire Kirk Kerkorian was interested in investing in the automaker in early April but was “completely unaware” that he had begun buying shares until later in the month.
Investment Guide In a government filing, Tracinda Corp. outlined an April 4 meeting between Ford Chief Executive Officer Alan [...]
Posted by admin on May 9th, 2008
WILMINGTON, Del.–Ford Motor Co. welcomes the significant investment by billionaire Kirk Kerkorian, company executives said Thursday, telling shareholders it underscores the strength of their turnaround plan.
Ford executives said their work to return the No. 2 U.S.-based car company to profitability by 2009 was taking hold and the recent acquisition of 4.7 per cent of the [...]
Posted by admin on April 5th, 2008
Besides slumping U.S. sales and a strike that has shut down 30 of its factories Investment Management, the automaker may now be on the financial hook to help its former subsidiary and largest parts supplier, Delphi. Delphi’s lifeline to exit bankruptcy was stalled after a private equity fund ended a deal for a $2.55 billion [...]
Posted by admin on March 30th, 2008
LONDON, March 19 (Reuters) - European shares are expected to rise on
Wednesday, buoyed by a rally in global equity markets after the Federal Reserve
delivered a smaller cut than expected to U.S. rates but two major investment
banks beat expectations with their results.
Spreadbetters in London expect Britain’s FTSE 100 index .FTSE to [...]
Posted by admin on March 30th, 2008
NEW YORK (CNNMoney.com) — If you’ve been pessimistic about the stock market, you would think you’d have plenty of reasons to gloat today.Influential bank analyst Meredith Whitney of Oppenheimer slashed her earnings targets for Citigroup (C, Fortune 500), Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wachovia (WB, Fortune 500). Whitney [...]
Posted by admin on March 30th, 2008
NEW YORK (CNNMoney.com) — Stocks tumbled Wednesday as weak economic news, spiking commodity prices and a bearish analyst note on investment firm earnings gave investors a reason to bail after the recent advance.The Dow Jones industrial average (INDU) lost around 110 points, or 0.9%. The broader Standard %26amp; Poor’s 500 (SPX) index gave back 0.9% [...]
Posted by admin on March 26th, 2008
High-yield, high-risk bonds are off to their worst annual start ever, and the biggest investors say there is no recovery in sight.
Junk bonds have fallen 3.9 percent on average so far this year, losing about $35 billion, according to data from Merrill Lynch indexes. Some funds managed by John Hancock Advisers, OppenheimerFunds and Fidelity Investments [...]
Posted by admin on March 19th, 2008
CSX, Microsoft, Washington Mutual, Nacchio in Court News
By Elizabeth Amon
March 18 (Bloomberg) — CSX Corp., the third-largest U.S.
railroad, sued TCI Fund Management and 3G Capital Partners,
accusing the hedge-fund firms of trying to change control of the
company while evading reporting requirements.
[...]
Posted by admin on March 19th, 2008
Goldman, Lehman Slash Prices to Unload Backlog in Buyout Debt
By Pierre Paulden
March 19 (Bloomberg) — Goldman Sachs Group Inc. is selling
Chrysler LLC debt for less than 80 cents on the dollar as Wall
Street firms cut their backlog of high-risk, high-yield [...]
Posted by admin on March 16th, 2008
Jianghuai Automobile Aims to Raise Vehicle Sales 30% This Year
By Tian Ying
March 15 (Bloomberg) — Anhui Jianghuai Automobile Group Co.,
Chinas second-biggest light-truck maker, aims to increase
vehicle sales 30 percent this year by adding new models and
making more cars.
[...]
