Cars
According to the ever-enjoyable Wall Street Journal, General Motors may come away from its near-death experience with over $45 Billion in tax breaks on future profits over. Yes, that is Billion with a "B". How exactly did that happen?
- Recalls Cost Gm $1.2 Billion, Second Quarter Net Income Drops To $0.2 Billion
General Motors said its second quarter net income was $0.2 billion, $1 billion less than in the same quarter last year. The huge drop is due mainly to recalls, estimated to cost $1.2 billion. Read more »...
- Spyker Files $3 Billion Lawsuit Against Gm Over Saab Bankruptcy Case
Dutch automaker Spyker N.V has filed a lawsuit against General Motors for over $3 billion (€2.4 billion) in the U.S. District Court for the Eastern District of Michigan. Spyker is accusing GM for tampering with the Saab bankruptcy case. This rather...
- General Motors To Reassess Facebook Advertising, Execs Say Ads Had Little Impact
In a move that may very well have a negative effect Facebook's $105 billion share sale on Friday, General Motors confirmed via its spokesperson that it is reassessing its advertising presence on the world's largest social network. GM released...
- Mg Preparing An Array Of New Models To Conquer Europe
SAIC Motor Corporation, the owner of MG Motors, plans to develop several new models for the British brand in order to boost sales outside its home market in China. The Chinese owner of MG Motors has already spent £1 billion ($1.64 billion) to re-launch...
- Vw Group To Invest €51.6 Billion In Its Automotive Division Over The Next Five Years
€51.6 billion, or about US$71 billion at today's exchange rates, is a lot of money - equal to around 15% of Sweden's GDP, for example. Nevertheless, that's the amount of money that will be poured into the Volkswagen Group's automotive...
Cars
General Motors Could get Over $45 Billion in Future Tax Breaks
According to the ever-enjoyable Wall Street Journal, General Motors may come away from its near-death experience with over $45 Billion in tax breaks on future profits over. Yes, that is Billion with a "B". How exactly did that happen?
Somewhere in the hubbub of GM's catastrophic nosedive into failure, paperwork was put in place to utilize a "tax-loss carry-forward" plan that uses deferred tax assets.
In plain terms, GM gets to put the value of the money the Old GM "lost" (or threw away) prior to and during its bankruptcy on a piece of paper and say it wants to reduce taxable income by that much. This, apparently, can be applied over the next twenty years.
- Recalls Cost Gm $1.2 Billion, Second Quarter Net Income Drops To $0.2 Billion
General Motors said its second quarter net income was $0.2 billion, $1 billion less than in the same quarter last year. The huge drop is due mainly to recalls, estimated to cost $1.2 billion. Read more »...
- Spyker Files $3 Billion Lawsuit Against Gm Over Saab Bankruptcy Case
Dutch automaker Spyker N.V has filed a lawsuit against General Motors for over $3 billion (€2.4 billion) in the U.S. District Court for the Eastern District of Michigan. Spyker is accusing GM for tampering with the Saab bankruptcy case. This rather...
- General Motors To Reassess Facebook Advertising, Execs Say Ads Had Little Impact
In a move that may very well have a negative effect Facebook's $105 billion share sale on Friday, General Motors confirmed via its spokesperson that it is reassessing its advertising presence on the world's largest social network. GM released...
- Mg Preparing An Array Of New Models To Conquer Europe
SAIC Motor Corporation, the owner of MG Motors, plans to develop several new models for the British brand in order to boost sales outside its home market in China. The Chinese owner of MG Motors has already spent £1 billion ($1.64 billion) to re-launch...
- Vw Group To Invest €51.6 Billion In Its Automotive Division Over The Next Five Years
€51.6 billion, or about US$71 billion at today's exchange rates, is a lot of money - equal to around 15% of Sweden's GDP, for example. Nevertheless, that's the amount of money that will be poured into the Volkswagen Group's automotive...