Category Archives: news analysis

Largest U.S. Airlines Barely Profitable in Q4

These data, combined with record levels of long-term unemployment and a moribund housing market, one wonders how anyone in the ruling class can claim the recession is over? Continue reading

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Right to Repair Bill Passes Massachusetts Senate

A version of the bill, omitting dealerships, is currently before the Massachusetts house, with unknown prospects. However, more than 100,000 citizens signed a Right to Repair ballot initiative earlier this year. If the legislature does not pass a final bill, the state’s consumers will get their own chance to vote—on the November ballot. Recent polls have shown support level for Right to Repair as high as 87%. Continue reading

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Study Claims E15 Ethanol Gas Will Damage New Car Engines

At the heart of the controversy are the costs of installing E15 pumps at gas stations, which already are selling fuel with E10, as well as warranty costs at automakers, where typically powertrains are now covered for 100,000 miles. The problem for automakers and consumers comes from a regulation that applies to existing vehicles on the road, instead of a phase-in for future vehicles. While automakers are now building some vehicles that can safely run of blends containing up to 85% ethanol, CRC said the decision to move to E15 was “premature and irresponsible,” since millions of existing auto engines cannot. Continue reading

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Opel Woes Continue as EU Auto Sales Decline In April. Latest Turnaround Plan Faces Fierce Union Fight over Plant Closings

Worrisome for GM shareholders, including the U.S. taxpayers who still own 32% of the world’s largest, but only marginally profitable, automaker after a $50 billion bailout, Stracke told employees that Opel will stay with existing labor agreements through 2014. With the European auto market headed for its fifth straight year of sales declines and with no upturn predicted for years, it’s impossible to see how Opel will cease being a drag on GM earnings. Continue reading

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Ford Europe Sales Down 10% in April. UK and Eastern EU Up

Like other automakers, Ford is struggling with the contractionist policies of governments in Germany and Brussels, as voter unrest grows with the Depression level economic conditions. Both in April and year-to-date light vehicle sales in the EU are off almost 8%, the fifth straight year of declines. Continue reading

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Airlines Post Record On-Time Performance but Complaints Up

Between January and March this year, the nation’s largest airlines posted their best on-time arrival rate for the first quarter of any year since the Department of Transportation began collecting comparable flight delay data in 1995. Supporters cite this as a clear example of the effectiveness of government regulation back by stiff fines. Continue reading

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Nissan Posts Operating Profit of ¥45.8 Billion For F.Y. 2011

The Nissan results with a net of $4.32 billion was in sharp contrast to Toyota Motor Corporation’s F.Y. net profit decline to ¥283.56 billion or $3.6 billion, a -31% decrease. Nissan also out performed Honda Motor whose net profit declined slightly at ¥211.4 ($2.627 billion) for a -3.5% drop. Continue reading

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Justice Department Seizes Chinese Counterfeit Sports Jerseys

Why the Obama Administration in general, and the State Department under Secretary of State Hillary Clinton have not taken stronger actions against ongoing corrupt Chinese business practices is an unanswered issue here. Why Major League baseball and the National Football League, among other sports organizations, remain silent over the widespread counterfeiting of their apparel is a disgrace and mocks their hard-working, law-abiding U.S. fans. Will the multi-millionaire players living off law-abiding fans ever wake up and demand action or are they too rich to care? Continue reading

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Thirty Percent of Ford Shareholders Vote against Family Control

While a grand total of 63 people bothered to attend the Ford Motor Company annual meeting of shareholders in Wilmington, Delaware today, 29.5% of investors or 1,283,063,982 of them voted against Ford family control of the company through their holdings of Class B stock, which has 16 votes per share as opposed to one per share of common, assuming no one in the Ford family voted for losing power.
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Ford China Sales Rebound in April with 24% Gain

After three straight months of declining sales in China, Ford Motor said today that sales increased 24% year-over-year to 54,881 based on wholesale deliveries. Ford China has now sold 176,274 vehicles year-to-date in China. Market leader General Motors and its communist government required joint ventures in China set a domestic sales record for April of 227,217 vehicles. Demand was up 11.7% from the same month in 2011. Its performance in April took GM’s sales for the first four months of the year to 972,369 units, an increase of 9.4% on an annual basis. GM has now sold more than one million vehicles in China. Continue reading

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EPA Drops Gas Station Vapor Recovery Regulation

In an election year where all federal agencies are incorporating political talking points from the ruling party into their releases, EPA claimed this final rule is part of the Obama Administration’s initiative to ensure that regulations protect public health and the environment without being unnecessarily burdensome to American businesses. Significantly, no health or environmental effect data were provided in the EPA release. Continue reading

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Bankrupt Hawker Beechcraft Pensions Only 56% Funded

Collectively, Hawker Beechcraft’s three pension plans are only 56% funded, with $769 million in assets to cover $1.4 billion in benefits. If Hawker Beechcraft ended the plans under the bankruptcy, the Pension Benefit Guaranty Corporation of the U.S. Federal government would pay $533 million of the $611 million shortfall. PBGC is the company’s largest creditor. Continue reading

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U.S. Treasury to Sell $5 Billion of AIG Stock. Taxpayers Still Owed $39 Billion from Controversial Bailout of Company

Today’s announcement is part of Treasury’s ongoing efforts to wind down the Troubled Asset Relief Program (TARP). More than 81% ($338 billion) of the $415 billion funds disbursed for TARP have already been recovered to date through repayments and other income – before including any expected proceeds from today’s announcement.

Ideologues will never admit it, but TARP is looking like an effective government intervention in the failed capital markets. Little has been done to make sure that it does not happen again in the view of critics. Continue reading

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April Marks Third Straight Month of Declining U.S. Job Growth as Unemployment Remains at an Official and Understated 8%

The struggling U.S. economy added a measly 115,000 jobs last month, the third straight month of declines in job growth. More than 15 million Americans are unemployed or underemployed. This poor performance comes years after Washington declared the recession caused by the reckless and unpunished practices of Wall Street officially over. Continue reading

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GM Makes $1 Billion in Q1. Down from $3.2 Billion in 2011

GM stock has been trading $22-$23 range, well down from the $33 level of GM’s 2010 initial public offering, to say nothing of what is happening to small investors who subsequently bid the stock – which pays no dividend – up to $39 before reality took hold. Continue reading

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