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Sunday, August 22, 2010 - 11:02 PM
There have
been five new publications added to the Forum since Friday. The first three can
be found posted under the GM, Ford and Chrysler tab. The first article comes
from a Free Press Business Writer reporting that GM has declared its intentions
to go public in the midst of an economy that’s ho-hum at best. It is asking
would be investors, some of whom were burned in GM’s bankruptcy, to look beyond
that. General Motors is taking a leap of faith and asking investors to do the
same. The second article comes from the Detroit News telling that Ford Motor
Co. Executive Chairman Bill Ford Jr. said late on Friday that he welcomes
General Motors Co.’s plan to begin selling its stock and doesn’t see it as a
threat to his own company’s stock price. The third article is a release from the
Associated Press asking the question; would you buy stock in a company that has
hemorrhaged tens of billions of dollars for years and run through four bosses
in quick succession just because it has turned a profit for a few months?
Two new posts
have been entered into the Open Discussion section of the Forum. The first
article comes from the Detroit News Washington Bureau. It reports that e-mails
obtained by The Detroit News show that Toyota Motor Corp. officials bragged in
late 2007 that they saved more than $100M by deterring U.S. safety officials
from ordering costly repairs to prevent runaway vehicles. There is plenty of
blame to go around on this issue of Toyota’s unintended acceleration from
Toyota management knowingly and willingly proceeding with the production of
unsafe vehicles to the government’s willingness to overlook discretions made by
the automaker. Let it be known that a few of the government officials involved
in this investigation used to work for Toyota. The second article comes from the
DRIVEON section of USA TODAY. It states that the government is investigating at
least 20 car dealerships it claims violated the rules of last year’s
cash-for-clunkers program. Government auditors say up to $94M in rebates may be
ineligible because they lack the proper documentation.
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