Kirk Kerkorian is after Chrysler again and has offered to buy the struggling carmaker for $4.5 billion. Kerkorian failed to acquire Chrysler in a hostile takeover during the mid-1990s. Several private equity firms are said to be vying for Chrysler, including Cerberus Capital Management and Blackstone group.Ford awarded its CEO,...
Published reports have buyers in China expressing an interest in taking Sweden's Volvo Car Corp. off Ford's hands. Ford CEO Alan Mulally has said a couple of times now since last November that unlike Aston Martin, Jaguar and Land Rover, which Ford has already unloaded, Ford isn't...
Halliburton officials said yesterday that the company plans to open a corporate headquarters in the United Arab Emirates city of Dubai. Halliburton's chairman and CEO, David J. Lesar, said he would move to Dubai, but the energy service company would retain its current corporate headquarters in Houston. Lesar said the...
Stockholders representing more than one billion shares of Ford stock aren't waiting around to see what Kirk Kerkorian intends to do with Ford. They want to sell now, and small wonder: Kerkorian offered $8.50 per share, versus Ford's closing market price of $6.36 on June 9, when the tender offer...
Cerberus Capital Management LP announced today that former Home Depot Inc. Chief Executive Officer Robert Nardelli will take on the role of CEO at Chrysler, unleashing a flood of speculation about the meaning of the appointment. Nardelli left Home Depot under a cloud of controversy surrounding his compensation and the...
Nobody could be surprised that consumers have turned away from big, gas-guzzling pickups and SUVs and toward more fuel efficient cars and crossovers. But industry analysts are slack-jawed at the speed at which demand for trucks has gone from merely eroding to downright collapsing. Not surprisingly, the...
By David Bailey and Kevin Krolicki DETROIT (Reuters UK) - Ford F posted a record $8.7 billion (4.4 billion pound) quarterly loss on Thursday as it wrote down the value of slumping truck and SUV operations and revamped plans in a bid to break its reliance...
By David Bailey and Kevin Krolicki DETROIT (Reuters) - Ford Motor Co F posted a record $8.7 billion quarterly loss on Thursday as it wrote down the value of slumping truck and SUV operations and revamped plans in a bid to break its...
