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Newspaper wrap-up: Justice Department wants UBS AG's U.S. clients who allegedly avoided taxes

Posted Jul 1st 2008 9:15AM by Laurie Pasternack (RSS feed)
Filed under: Newspapers, Magazines, BP p.l.c. ADS (BP)

MAJOR PAPERS:
  • In a cost cutting move, struggling automaker Chrysler said it will idle its St. Louis South minivan plant in October, and will reduce operations at its St. Louis North Dodge Ram pickup truck plant to one shift in September, the Wall Street Journal reported. About 2,400 people will lose their jobs at both plants.
  • In an unprecedented move, the Justice Department is pressuring UBS AG (NYSE: UBS), a foreign bank, for the names of wealthy U.S. client who used the bank to avoid paying taxes, reported the Wall Street Journal, and has sought a federal court order to proceed.
OTHER PAPERS:
  • After learning Moscow authorities have refused to renew the work visas of BP Plc's (NYSE: BP) expatriate staff, the New York Times reported that the British oil company may be in danger of losing control of TNK-BP Holding, its Russian joint venture. If the top officials from the BP side of the venture, including the CEO and CFO, are forced to leave, TNK-BP will fall into the hands of its Russian partners.
  • In an upheaval aimed at preventing too much power from being exercised by the company's chairman, the UK Times reported that UBS has decided to replace four board directors in October. The governance model, which will separate the roles and responsibilities of the board and executive management, will reportedly come into play immediately and will allow the board to delegate the duties formerly allocated to the chairman's office to board committees.

Ford and Chrysler bring country to Motown

Posted Jan 14th 2008 3:40PM by Michael Fowlkes (RSS feed)
Filed under: Forecasts, Products and services, Launches, Consumer experience, Conventions and conferences, Ford Motor (F), Marketing and advertising

For residents of Detroit, today may have felt like they were transported back to the great old West, as automakers Ford Motor (NYSE: F) and Chrysler brought country to Motown for this year's North American International Auto Show.

For Ford, that meant recruiting the help of country music icon Toby Keith to unveil its newest model of the popular F-150 heavy duty truck. For Chrysler, it meant taking things to an even higher level. The auto maker literally brought traffic to a standstill when it paraded 120 Texas Longhorns into the convention center surrounding its newest version of the Dodge Ram pick up truck.

Definitely impressive marketing techniques to launch new models. Perhaps Ford and Chrysler figure they better put on a good show this year, after all, truck sales dropped pretty sharply last year, and with gasoline prices still hovering around $3 a gallon, you can bet that the trend will carry over into 2008.

Continue reading Ford and Chrysler bring country to Motown

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Last updated: November 11, 2009: 12:16 PM

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