Tennessee's junior senator has been a thorn in the side of the Obama administraton during the auto crisis. Nolan Finley of The Detroit News says that may actually end up working in Spring Hill's favor.
Jun 16, 2009 6:58 PM
The Michigan town competing with Spring Hill and a Wisconsin plant has lined up a number of incentives to sway General Motors, which will soon decide where to build its next-gen small car. Gov. Bredesen last week said he's not interested in paying hundreds of millions to help GM make its choice.
Jun 16, 2009 3:39 PM
Analysts at Bank of America have initiated coverage of Tractor Supply with a 'buy' rating and a price target of $50. Tractor Supply shares (Ticker: TSCO) are up about 8 percent this year, Thursday trading around $39. The team at Barclays Capital has upgraded shares of Nissan (Ticker: NSANY) to 'equal weight' from 'underweight' – despite the fact that the stock has doubled since early March.
Jun 12, 2009 8:26 AM
Officials at the auto maker say they have begun formal talks with representatives from Tennessee, Michigan and Wisconsin as well as federal officials about where they will build their planned next-generation small car.
Emerging from a meeting with Tennessee officials — the first of three meetings with state and federal delegations on Wednesday — Clarke said he wanted to lay out what GM was looking for in a new site. "I think a lot of (the discussion) was just getting an understanding," he said. "We wanted to make ourselves available to answer questions at whatever level of detail the state delegations wanted."
Jun 10, 2009 3:19 PM
General Motors' Maury County plant – called a 'secret weapon' by Lamar Alexander – stands a good chance of being picked to build the company's next-generation small car, says David Cole of the Center of Automotive Research.
"It is a relatively new plant and it also is a plant that has had a history of good performance," he said. Cole said he is "hard pressed to think of a reason why they wouldn't" be picked.For the flip side, read this piece from The Oakland Press on GM's Orion Township plant.
Jun 8, 2009 8:03 AM
From the Detroit Free Press:
General Motors Corp. this morning announced a tentative deal for renowned Detroit businessman Roger Penske to acquire GM’s struggling Saturn brand and distribution network.SEE ALSO: Penske says he plans to branch out and sell other brands, including Renault and Samsung. No wonder on whether sibling Nissan will be in the mix, too.
Jun 5, 2009 9:54 AM
Bloomberg reports from Capitol Hill, where the two bankrupt auto makers took a lashing from senators. Exchanges like this one just don't look good.
Senator Amy Klobuchar, a Minnesota Democrat, said the planned closing of successful dealers was “puzzling” and that some Chrysler dealers were given 26 days to close. Rockefeller asked West Virginia dealer Peter Lopez at the hearing if he could close in 26 days. The answer was, “No way.” The senator asked [Chrysler President] Press if he could close that quickly if he were a dealer.“I would have to find a way,” Press said.
Jun 3, 2009 7:01 PM
General Motors says more than a dozen companies have expressed interest in the car brand that was born and raised in Spring Hill. Among them are Penske Automotive — which has been said to partner with Renault-Nissan — and a group led by private-equity player Black Oak Partners. On the sales front, the world's auto makers reported their May sales this morning. And while the numbers for several of them were better than expectations, they still made for tough reading.
Ford executives cautioned against reading too much into their better-than-expected results. “It’s like less awful,” Ken Czubay, Ford vice president of sales and marketing, said in a conference call today. “This is still a very fragile industry. This isn’t any time to rejoice. It’s just a slight uptick.”
Jun 2, 2009 6:14 PM