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News Breaks
13:24 EDTGM
theflyonthewall.com: GM to cut 9,000-10,000 jobs in Europe, Dow Jones reports
Nick Reilly, interim head of General Motors' European business, said the company will cut 9,000-10,000 jobs and may close a plant as part of its European restructuring plan, Dow Jones reports. Reilly said that European operations need EUR3.3B for restructuring and GM and European governments will fund the effort. The company expects to repay the loans in 2-3 years and to achieve a "decent profit" at GM Europe in 2012. :theflyonthewall.com



News For GM From The Last 14 Days
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February 9, 2010
07:14 EDTGM
theflyonthewall.com: General Motors to cut another 154 jobs from Vauxhall, U.K. Times
General Motors (GM, MTLQQ) is reportedly planning to axe 154 more administrative jobs from Vauxhall UK in addition to previously announced job cuts at the Luton plant. The Luton van making factory will cut 369 jobs, while 154 sales and administrative jobs will be cut across the country. Reference Link :theflyonthewall.com
06:26 EDTGM
theflyonthewall.com: GM's Europe unit to invest $15.03B in line-up by 2014, WSJ reports

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05:50 EDTGM
theflyonthewall.com: Treasury Department, GM still in talks over CEO's pay package, Detroit News says

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05:48 EDTGM
theflyonthewall.com: General Motors adding jobs in hard-hit areas, Detroit News reports

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February 8, 2010
06:04 EDTGM
theflyonthewall.com: GMAC cuts 115 jobs in North Carolina, Detroit News reports

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06:03 EDTGM
theflyonthewall.com: General Motors to keep RenCen headquarters, Detroit News reports

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February 5, 2010
06:59 EDTGM
theflyonthewall.com: On The Fly: Periodicals Wrap-Up

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05:47 EDTGM
theflyonthewall.com: Automakers to increase global engineering of vehicles, Detroit News reports

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February 4, 2010
05:53 EDTGM
theflyonthewall.com: GM Chairman plans to focus on reducing vehicle discounts, Detroit News reports

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February 2, 2010
14:37 EDTGM
theflyonthewall.com: Markets in a tight range as automakers report January sales

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14:02 EDTGM
theflyonthewall.com: General Motors says "global economic recovery is picking up pace"

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14:01 EDTGM
theflyonthewall.com: General Motors truck sales down 18.3% in January to 49,574

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14:00 EDTGM
theflyonthewall.com: General Motors car sales up 35.1% in January to 59,363
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13:59 EDTGM
theflyonthewall.com: General Motors raises 2010 sales outlook to 11.5M-12M vehciles

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13:58 EDTGM
theflyonthewall.com: General Motors reports January total sales up 14% to 149,825
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13:47 EDTGM
theflyonthewall.com: General Motors reports January U.S. sales up 14%

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13:46 EDTGM
theflyonthewall.com: Chrysler Group reports January U.S. sales down 8%, Bloomberg reports
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06:28 EDTGM
theflyonthewall.com: Germany wants GM to contribute more to Opel restructuring, Bloomberg reports

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06:09 EDTGM
theflyonthewall.com: General Motors to host sales conference call

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05:53 EDTGM
theflyonthewall.com: Paulson refused to meet with GM CEO, Detroit News reports

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February 1, 2010
13:44 EDTGM
theflyonthewall.com: GM's plan to sell Hummer brand delayed, AP reports

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January 29, 2010
09:39 EDTGM
theflyonthewall.com: Silence is deafening at Toyota, Globe and Mail reports
People are starting to question why Toyota's (TM) CEO, Akio Toyoda, has not come out and addressed the accelerator recall that could potentially do irreversible damage to its brand and once stellar reputation, Globe and Mail reports. “The top management should show a strong message to customers and also to people who work for the company. I think it is the most important matter, when a company has a crisis, the top management's attitude is very important," said Tatsuya Mizuno, founder of Mizuno Credit Advisory. Reference Link :theflyonthewall.com
06:51 EDTGM
theflyonthewall.com: GM's Thai unit receives $409M in loans, AP reports

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January 28, 2010
21:16 EDTGM
theflyonthewall.com: Jim Cramer's "Mad Money"
Jim Cramer said, he really "doesnt like this market", as the sellers have become too powerful, and this is shaping up to be a dip that cannot be bought. By all accounts, this market should be heading higher, Cramer told viewers. He cited countless company profits that beat expectations handedly, such as: Procter & Gamble (PG), Boeing (BA) or even Apple (AAPL). He said the big money managers have gotten fearful of of President Obama's anti-shareholder stance and fearful of a slowdown in China, and they're using any excuse they can to sell. Thursday's reason seemed to be problems in the Greek bond market. Cramer said, there may be no choice but to get more defensive and wait for the selling to come to an end. Next, Cramer spoke with Roy Vallee, chairman and CEO of Avnet (AVT). Vallee painted a rosy picture for his industry, saying that technology is leading the U.S. recovery. He said that after a year of pent up demand, companies are beginning to spend again, leading to double-digit growth at Avnet. Also contributing to the demand is Cramer's Mobile Internet Tsunami, which Vallee confirmed is alive and well with hundreds of new devices being built. Vallee also cited Avnet's new deal with Cisco (CSCO) as another catalyst for the company. Cramer called Avnet a buy, buy, buy. Then, Cramer spoke with Tom Farrell,chairman, president and CEO of Dominion Resources (D), a utility that recently beat earnings and boosted its dividend. Farrell said that construction on the company's new coal fired power plant in Virginia began 18 months ago, and will be generating 600 megawatts by 2011. Farrell said that Dominion is fortunate to serve Virginia, where the unemployment is less than the national average and where there are strong government and military operations that help stabilize demand. The company is leasing its 450,000 acres of its Marcellus shale assets and using the proceeds to build out in other areas. Cramer said Dominion remains his favorite utility and the company represents a good yield for uncertain times. Cramer interviewed Robert Gross, chairman and CEO of Monro Muffler Brake (MNRO), a company with no exposure to China and President Obama's political agenda. Gross was bullish on his business, thanks in part to the collapse of General Motor's (GM, GMGMQ) and Chrysler's dealer networks and the fact that people are holding onto their cars longer. Cramer remained bullish on Monroe, despite the fact its shares are up 62% since his first recommendation on Aug. 8, 2008. He said Monro still has many years of solid growth ahead of it. LIGHTNING ROUND: (Bullish) AKAM; EXC; DE; F. (Bearish) JOYG; QCOM. Reference Link :theflyonthewall.com
10:41 EDTGM
theflyonthewall.com: Honda dealers told to avoid predatory moves following Toyota recall, DJ reports

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06:21 EDTGM
theflyonthewall.com: General Motors offers incentives to Toyota owners, AP reports

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January 26, 2010
14:03 EDTGM
theflyonthewall.com: GM invests $246M in electric motors and hybrid components in Baltimore

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13:06 EDTGM
theflyonthewall.com: GM confirms agreement to sell Saab to Spyker

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12:37 EDTGM
theflyonthewall.com: Spyker to buy Saab from GM for $74M in cash, Reuters reports

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12:35 EDTGM
theflyonthewall.com: GM deal includes $556M loan guaranteed by Sweden, WSJ reports

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11:18 EDTGM
theflyonthewall.com: GM deal to sell Saab to Spyker is done, CNBC reports
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10:43 EDTGM
theflyonthewall.com: General Motors, Spyker Cars close to deal for Saab, Reuters reports

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05:50 EDTGM
theflyonthewall.com: 1,300 GM and Chrysler dealers challenge loss of dealerships, Detroit News says

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05:45 EDTGM
theflyonthewall.com: General Motors to make own electric motors in 2013, AP reports

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05:41 EDTGM
theflyonthewall.com: Genii Capital withrdaws from bidding for Saab, Reuters reports

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