Word: gm
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Dates: during 2000-2009
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...over that period which wiped out a number of short positions. Since then, the shares have moved even higher on earnings and analyst upgrades and change hands at more than $5. Ford trades a tremendous 121 million shares a day. Any news about the potential bankruptcy of GM (GM) or Chrysler moves Ford's stock due to concerns, among others, that a liquidation of either of those firms could bring down parts suppliers that serve the entire industry. The monthly release of domestic unit sales also pushes the stock up and down...
...nearly parallel track, GM announced on Monday that it was taking important new steps to reduce costs as it also struggles to avoid bankruptcy and meet a June 1 deadline from the government for restructuring its operations. In its Monday announcement, GM said that by 2010 it intends to close 13 car plants, eliminate 21,000 jobs, reduce its dealer network by 42%, and eliminate the Pontiac brand. It also announced that it has reached an agreement with the U.S. Treasury to convert 50% of the outstanding government loans to the company - or about $5 billon - into GM stock...
...remaining party to any GM or Chrysler accord that averts bankruptcy will be the bondholders, who must agree on a reduction in the amounts owed. At Chrysler, bondholders made concessions on Friday, reducing Chrysler's $6.9 billion of outstanding debt for the second time. The bondholders had earlier agreed to accept $4.5 billion; on Friday they reduced the amount further, to $3.75 billion. A final deal with creditors much be reached by May 1. Among Chrysler's biggest bondholders are JP Morgan Chase, Citigroup, Goldman Sachs and Morgan Stanley. Even if Chrysler reaches a deal with its major creditors...
...Even with government backing, skeptics say Chinese electric cars are not ready for prime time. "From what we've seen so far, the technology is not that advanced in terms of battery life, range and in terms of recharging," says GM's Reilly. "If you look at the details, they don't necessarily perform as well [as GM's electric-car entry, the Volt] in those measures." GM plans to introduce the Volt in China late next year or early...
...Instead, he is advocating a drastic change in the sugar content of sodas. His Department of Nutrition is urging manufacturers to produce a line of beverages containing only 1 gm of sugar per ounce, a 70% reduction in sugar content. It's all part of a campaign to re-train the American sweet tooth. "If children grow up with everything tasting super sweet, then it's hard for them to appreciate he gentle sweetness of a fresh carrot or an apple," he says. "Part of this is deconditioning palates to a much more natural level of sweetness." That certainly...