BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Who is going to want the assets GM is trying to sell?]]>http://www.bloggingstocks.com/2008/07/15/who-is-going-to-want-the-assets-gm-is-trying-to-sell/http://www.bloggingstocks.com/2008/07/15/who-is-going-to-want-the-assets-gm-is-trying-to-sell/http://www.bloggingstocks.com/2008/07/15/who-is-going-to-want-the-assets-gm-is-trying-to-sell/#commentsFiled under: , ,

General Motors Corp. (NYSE: GM) shares fell in early trading as Wall Street viewed the company's announcement that it plans to raise as much as $15 billion through the end of next year by suspending its dividend, cutting its salaried workforce and selling assets with skepticism.

For one thing, who is going to want to buy the assets GE is trying to sell? For instance, sales of Hummer were down about 60% in June. What private equity player will take a chance on buying a brand synonymous with gas guzzling as gas sells for more than $4 a gallon at the pump? Who is going to want other lackluster GM brands like Saturn? Any new owners of the business will face the same problems as GM.

Also, let's not forget the rising prices of commodities used to make cars, such as steel. Hyundai Motor Co. announced today that it was raising prices on its cars because of increased costs for raw materials, according to Reuters. Soaring oil prices also is making the costs of plastics needed for car parts rise.

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Who is going to want the assets GM is trying to sell? originally appeared on BloggingStocks on Tue, 15 Jul 2008 11:03:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredGMgm bankruptcygm turnaroundGmBankruptcyGmTurnaroundrick wagonerRickWagonerTue, 15 Jul 2008 11:03:00 EST<![CDATA[General Motors profits again!]]>http://www.bloggingstocks.com/2007/07/31/general-motors-profits-again/http://www.bloggingstocks.com/2007/07/31/general-motors-profits-again/http://www.bloggingstocks.com/2007/07/31/general-motors-profits-again/#commentsFiled under: , , , ,

General Motors (NYSE: GM) today posted better-than-expected second quarter earnings. In this most recent chapter in this comeback story, General Motors earned $2.48 per share on an adjusted basis. Analysts had been expecting earnings of $1.13. This is the company's third straight profitable quarter.

The strong numbers are not going unrewarded so far in the premarket. Early morning traders have pushed the stock up 6.0% in premarket trading with around another 30 minutes to go before the opening bell.

What a difference a year makes. I can remember seeing the writing on the wall of a complete collapse this time last year when the company threw up horrible 2006 second quarter numbers. Last year, when the company showed a loss of $3.4 billion, there were lots of questions floating around Wall Street as to whether or not the company was going to be able to pull itself back out of the hole it had dug for itself.

Well ... today is another big step in the right direction, but there is still work to be done in Detroit.

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General Motors profits again! originally appeared on BloggingStocks on Tue, 31 Jul 2007 09:35:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>featuredFritz HendersonFritzHendersongeneral motorsGeneralMotorsgmGM turnaroundGmTurnaroundTue, 31 Jul 2007 09:35:00 EST