Newspaper wrap-up: BHP CEO lashes out at Rio Tinto
Posted Apr 23rd 2008 8:37AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Ford Motor (F), AT and T (T), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RIO)
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MAJOR PAPERS:
- The Wall Street Journal reported that Ford Motor Company (NYSE: F) CEO Alan Mulally isn't done cost-cutting. According to people close to the situation, Mulally is considering more job cuts, selling its Volvo brand and closing the troubled Mercury brand.
- BHP Billiton Limited (NYSE: BHP) CEO Marius Kloppers strongly criticized Rio Tinto Plc (NYSE: RTP) and its CEO yesterday, the Financial Times reported. BHP Billiton has outperformed Rio Tinto in several areas, including share price appreciation and EPS growth, said Kloppers, adding, "On every metric I can envisage they [Rio] have been beaten."
OTHER PAPERS:
- According to the Economic Times, AT&T Inc (NYSE: T) is reportedly in preliminary talks with Malaysia's Maxis Communications about buying its 74% stake in Indian cellular phone company Aircel, sources said.
- The United Auto Workers union has rejected several "generous" benefit and wage proposals, according to American Axle & Manufacturing Holdings Inc (NYSE: AXL). In a statement yesterday, the Detroit News reported that American Axle said while tentative agreements had been reached on several issues, the UAW "repeatedly rejected" other proposals that were "considerably higher than the market rate."
Tags: Aircel, Alan Mulally, AlanMulally, american axle, american axle strike, AmericanAxle, AmericanAxleStrike, ATT, AXL, BHP, bhp billiton, bhp billiton limited, bhp billiton ltd adr..., BhpBilliton, BhpBillitonLimited, BhpBillitonLtdAdr..., F, ford motor company, FordMotorCompany, Maxis Communications, MaxisCommunications, Mercury, rio tinto, rio tintoplc, RioTinto, RioTintoplc, RTP, T, UAW, uaw strike, uawstrike, United Auto Workers, UnitedAutoWorkers, Volvo
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