Obbligazioni societarie GM, Ford, Chrysler: il 3D dell'automotive USA (5 lettori)

[paologorgo]

in effetti per firmare il bilancio GM ci vuole un coraggio che un solo milione di $ l'anno di stipendio può non essere sufficiente...

CHICAGO (Reuters) - General Motors Co's bid to find an outsider to replace its chief financial officer is being complicated by pay restrictions imposed on companies that got big U.S. government bailouts, The Wall Street Journal said on Saturday.
GM executives met recently with U.S. Treasury pay czar Kenneth Feinberg and left with the understanding the automaker would be able to offer a significant amount of stock but no more than a $1 million annual salary, the newspaper said, citing people familiar with the matter.
Sources have told Reuters that GM directors in September backed a plan for CFO Ray Young to leave the company.
GM emerged from bankruptcy in July after receiving $50 billion in emergency U.S. financing.
A spokesman for GM would not comment on whether the CFO search specifically was being hindered by the pay restrictions.
"We've consistently said that one challenge to filling any position from outside might be the pay restrictions," GM spokesman Tom Wilkinson said.


Pay rules complicate GM CFO search: report | U.S. | Reuters

 

[Yunus80]

E come dargli torto, da quelle parti per cose simili c'è la galera...

 

[Imark]

Tutti a dare del bandito e dell'incompetente a Wagoner... troppo facile oggi...

PS: non fate leggere allo scualo

US task force shocked by state of GM, Chrysler

US auto task force shocked by the poor conditions at GM, Chrysler before bankruptcies

WASHINGTON (AP) -- The shockingly poor financial management of General Motors and Chrysler weakened their case for a government bailout, but officials feared letting the automakers collapse would severely harm the U.S. economy, the former head of the Obama administration's auto task force says.

In a first-person account posted on Fortune's Web site Wednesday, Steven Rattner said he was alarmed by the "stunningly poor management" at the Detroit companies and that GM had "perhaps the weakest finance operation any of us had ever seen in a major company."

GM's board of directors was "utterly docile in the face of mounting evidence of a looming disaster" and former GM chairman and chief executive Rick Wagoner set a tone of "friendly arrogance" that permeated the company, Rattner wrote.

"Certainly Rick and his team seemed to believe that virtually all of their problems could be laid at the feet of some combination of the financial crisis, oil prices, the yen-dollar exchange rate and the UAW" (United Auto Workers union), Rattner wrote.

He described his six-month stint leading the auto task force, which pushed GM and Chrysler into quick bankruptcies last summer with the help of billions of dollars in federal aid. The task force won concessions from the union, suppliers, bondholders and dealers, and the U.S. government now owns nearly 61 percent of GM and 8 percent of Chrysler.

"We were shocked, even beyond our low expectations, by the poor state of both GM and Chrysler. Looking just at the condition of GM's finances and Chrysler's new-car pipeline, the case for a bailout was weak," Rattner wrote.

"But on the other hand, as we surveyed the interconnected web of finance companies, suppliers and related businesses, the potential impact of the likely alternative -- liquidation -- stunned us. We imagined that the collapse of the automakers could devastate the Midwest beyond imagination."

GM said in a statement it is "a new company with a strong balance sheet, less debt and a fresh product lineup that is making consumers take notice. ... Looking back doesn't help us with the important work we have in front of us. We are grateful for the second chance our nation's support has given us, and we are confident we will succeed."

Rattner said the task force was divided on whether to save Chrysler. Chrysler was poorly run during its alignment with Daimler AG, and "larded up with debt, hollowed out by years of mismanagement, Chrysler under (private equity firm) Cerberus never had a chance."

The task force determined that Chrysler could not survive without a corporate partner and turned to Italy's Fiat Group SpA. Fiat took control of Chrysler after it emerged from bankruptcy protection in June and received a 20 percent stake in the company, with the opportunity to take on 35 percent.

As for GM, Rattner said Wagoner told him in mid-March that he wanted to remain at the company but was willing to step down to help GM. Rattner said Fritz Henderson, who succeeded Wagoner as chief executive, "conveyed more energy and openness to change."

Rattner asked Wagoner to step aside on March 27 and Wagoner agreed, supporting their plan to make Henderson the new CEO. In an "awkward conversation," Rattner said Wagoner asked whether the administration planned to fire UAW President Ron Gettelfinger.

"I'm not in charge of firing Ron Gettelfinger," Rattner replied.
Rattner has faced his own scrutiny.

His former investment firm, Quadrangle Group, paid more than $1 million to a New York political consultant indicted in a public corruption probe in New York.

Rattner wrote that he grappled with "the New York attorney general's investigation of my former firm, Quadrangle Group, and me about our actions in connection with an investment from the state pension fund." He did not elaborate.

 

[leodetti]

in riferimento al messaggio di lupomar del 7.10.2009 siccome possiedo obbligazioni gm in euro chiedo se qualcuno sia riuscito a compilare da solo il proof of claim per l'insinuazione del credito e relativa iscrizione alla united states bankruptcy. se sì potete metterlo nel forum cancellando ovviamente i dati personali. quali documenti vanno allegati? il proof of claim si può mandare via mail o soltanto per posta ? ci sono poi vari problemi tipo: si richiede di dichiarare l'importo in usd ma io le ho in euro, che cambio metto ? il claim form si può richiedere solo se si specifica uno stato usa,non c'è il campo country (paese) ma solo state (stati americani) e noi italiani che mettiamo? qualsiasi aiuto è gradito e per questo ringrazio tutti anticipatamente, ma ricordo che abbiamo tempo sino al 30.11.2009 per registrare i crediti e continuare a sperare di non perdere tutto. [email protected] 4

 

[lupomar]

in riferimento al messaggio di lupomar del 7.10.2009 siccome possiedo obbligazioni gm in euro chiedo se qualcuno sia riuscito a compilare da solo il proof of claim per l'insinuazione del credito e relativa iscrizione alla united states bankruptcy. se sì potete metterlo nel forum cancellando ovviamente i dati personali. quali documenti vanno allegati? il proof of claim si può mandare via mail o soltanto per posta ? ci sono poi vari problemi tipo: si richiede di dichiarare l'importo in usd ma io le ho in euro, che cambio metto ? il claim form si può richiedere solo se si specifica uno stato usa,non c'è il campo country (paese) ma solo state (stati americani) e noi italiani che mettiamo? qualsiasi aiuto è gradito e per questo ringrazio tutti anticipatamente, ma ricordo che abbiamo tempo sino al 30.11.2009 per registrare i crediti e continuare a sperare di non perdere tutto. [email protected] 4

Ti ho inviato in pm tutto quello che so e che ho. Allego per tutti la circolare Abi che dovrebbe spingere le nostre banche a farci assistenza. Spero che la sett. prossima arrivi la tanto attesa comunicazione dalle varie banche.

 

[lupomar]

Alla fine sembra comunque che il POC non serva neppure per i possessori di bond in euro.

Inizialmente dalla Motors Liquidation Company rispondevano che l'insinuazione bisognava farla, adesso dicono di no.

I prossimi giorni chiariranno la situazione...

Allego la risposata alle faq...

 

[paologorgo]

OT

Tesla Roadster runs 313 miles on a charge in Global Green Challenge

by Sam Abuelsamid (RSS feed) on Oct 27th 2009 at 7:03PM

Simon Hackett and co-driver Emilis Prelgauskas with the record setting Roadster - click above for high-res image gallery​

It's no secret that how you drive has as much – or more – influence on a vehicle's efficiency than any technology. Case in point is this week's Global Green Challenge in Australia. Simon Hackett shipped his 2008 Tesla Roadster down under for the event and proceeded to set a new world record for a production battery-powered vehicle. Hackett and co-driver Emilis Prelgauskas managed to squeeze 313 miles out of the lithium ion battery pack of the Roadster.

As the drivers crossed the finish, approximately three miles was left on the charge at the end of the run south from Alice Springs. That easily topped the 241-mile run by another Roadster earlier this year in the Rallye Monte Carlo d'Energies Alternatives and the 244 miles the car achieves on the EPA test cycle.

Of course achieving those kinds of range numbers means completely forgoing the performance capabilities of the Roadster, just as it would in any other sports car. The 0-60 in 3.9 seconds and 244 mile range is an either/or choice, you sadly can't have both. Tesla's press release is after the jump.

Tesla Goes 313 Miles on Single Charge, Sets World Record

 

[paologorgo]

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[ricpast]

Ford Motor sale del 10,9% a Wall Street. Il gruppo auto statunitense ha inaspettatamente chiuso in utile il terzo trimestre del 2009, contro un'attesa di una perdita, ed ha detto che nel 2011 sarà "saldamente in utile".

Nel periodo luglio settembre, la società di Detroit ha registrato un utile netto di 997 milioni di dollari che si confrontano con la perdita di 3 miliardi di dollari dell'analogo trimestre del 2008.

Ford, l'unica grande casa auto di Detroit ad aver evitato labancarotta nel 2009, ha annunciato che le attività legate all'auto hanno generato cassa per 1,3 miliardi di dollari: nel secondo trimestre 2008 ne avevano bruciato per 1 miliardo di dollari.

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L'agenzia Moody's ha rivisto verso l'alto di un notch a B3 da Caa1 il rating su Ford Motor's. In precedenza un'altra agenzia di rating, Fitch, aveva innalzato l'outlook sul rating della casa di Detroit da stabile a positivo. Entrambe le decisioni avvengono a poche ore dalla presentazione dei risultati finanziari del terzo trimestre della casa auomobilistica, che ha registrato per il periodo utili per 997 milioni di dollari.

 

[paologorgo]

Ford (F +8.3%) says it plans to raise $3B in funds through convertible notes and private placements of common shares, and that it plans to extend a revolving credit facility to 2013 from 2011. Shares -2.9% AH.