LAST UP DATE : (BIG THREE MERGE)YEAH IT'S TRUE

[mtema99]

Capping off a week that saw General Motors’ share price take a 31% hit in a single day comes a new report claiming the carmaker is in talks with Chrysler over a possible merger deal. According to an inside source familiar with the talks, GM approached Chrysler more than a month ago to discuss an acquisition and other “mutual interests”.

However, The Detroit News also reports that GM had approached Ford about a possible tie-up before contacting Chrysler. People close to the matter said GM CEO Rick Wagoner asked Ford CEO Alan Mulally directly about starting up negotiations but was immediately turned down by the Blue Oval boss.

Ford considers a merger with GM as contrary to its own turnaround plan, which is highlighted by a need to simplify operations. Ford this week was also reported to be considering offloading some of its stake in Mazda in an effort to raise cash, however no official confirmation has been made.

GM's most recent talks were with Chrysler’s current owner, Cerberus Capital Management, over the sale of its portion of GMAC, however the rough state of financial markets eventually took its toll on the auto-lending firm, and this in turn lead to a breakdown in talks, one source revealed during an interview with the Wall Street Journal.

In the latest round talks, GM was reportedly keen to trade its remaining 49% stake in GMAC for Cerberus’ 80.1% stake in Chrysler’s automotive operations. This would give Cerberus complete ownership of GMAC, while GM would own the 80.1% stake in Chrysler and Germany’s Daimler AG would retain its 19.9% portion.

While GM’s share price and current financial state may make it appear to be in a poor position to take control of Chrysler, the source said both parties are keen to move their remaining assets quickly and a merger still has a “50-50” chance of being approved. A final decision, however, isn’t expected for several weeks at least.

GM also announced on Friday that it had ruled out seeking bankruptcy protection, claiming that such a decision is not in the best interests of its employees, stockholders, suppliers or customers, and that its North American restructuring plan is still on track.

[mtema99]

ده اخر خبر

معرفش بيفكروا ازاي

هنشوف

لا و ال ايه ال 3 في صدد اشهار الافلاس

فعلا هتبقى شركه عظيمه

[mtema99]

ده الخبر الثالث

و هو قرب موت فورد نهائيا

لا اقصد تفكيك المجموعه بل اقصد موت شركاتها ايضا

رغم كل ما تبزله هذه المجموعه من تحسينات جوهريه

و اصبحت من اكثر السيارات اعتماديه بجانب اليابانيه و الاوروبيه و لكنها الان اصبحت لا تستطيع المجاره

و اليكم التقرير التالي

Ford Reports $2.7 Billion Operating Loss in Q3, Burns $7.7 Billion in Cash, Announces Job Cuts

It can't get any worse for Ford Motor Company - or can it? The American automaker today announced a third quarter net loss of $129 million which is actually smaller than the same period a year ago when FoMoCo lost $390 million. However, the company also posted a third quarter pre-tax operating loss from continuing operations (excluding special items) of $2.7 billion, down from a $194 million profit a year ago.

What's even more worrying is the fact that FoMoCo burnt $7.7 billion of its $26.6 billion cash reserves during the July - September period, or about $2.6 billion a month from an average of $1 billion a month over the prior 6 months. If Ford continues to burn its reserves at the same rate, it will be out of cash in about 7 months or until April 2009...

Ford disclosed steps to improve cash by as much as $17 billion through 2010. The actions that the company is planning to do include including a slash in annual capital spending to between $5 billion and $5.5 billion and further reductions of salaried personnel-related costs by an additional 10 percent by the end of January 2009 through layoffs, attrition and other actions.

و لمواجهه هذا ستبزل فورد الاتي

The actions include:

Reducing North American salaried personnel-related costs by an additional 10 percent by the end of January 2009, through personnel reductions, attrition and other actions. The reductions are in addition to personnel-related cost actions already taken in Ford North America and under way in Ford of Europe, Ford Asia Pacific and Africa, and Volvo.
Further reduction of U.S. hourly employees by approximately 2,600 as a result of the most recent round of targeted buyouts – bringing Ford's total U.S. hourly reductions through buyouts in 2008 to approximately 7,000.
Eliminating merit pay increases for North America salaried employees in 2009.
Eliminating performance bonuses for global salaried employees, including the Annual Incentive Compensation Plan for the 2008 performance year.
Suspending matching funds for U.S. salaried employees participating in Ford's Savings and Stock Investment Plan, effective Jan. 1, 2009.
Reducing annual capital spending to between $5 billion and $5.5 billion – enabled by efficiencies in Ford's global product development system and reduced spending in declining product segments.
Reducing engineering, manufacturing, IT and advertising costs through greater global efficiencies.
Reducing inventories globally and achieving other working capital improvements.
Return of capital from Ford Credit to Ford Motor Company consistent with Ford Credit's plan for a smaller balance sheet and a focus on core Ford brands.
Continuing to develop incremental sources of Automotive funding, including divesting of non-core operations and assets, and implementing equity-for-debt swaps.