May 21, 2007 Ford is in the midst of a major restructuring, closing plants and laying off workers. At the helm of the company is Alan Mulally, who played a key role in Boeing's turnaround but has no real experience in the auto industry. Is he up to the job?
May 14, 2007 German automaker DaimlerChrysler has announced that it is selling 80 percent of its struggling Chrysler division to Cerberus Capital, a private equity firm. Cerberus will pay $7.4 billion for the U.S.-based entity, but little of that money will go to Daimler. In the transaction announced this morning, Daimler will actually end up paying to get out from under Chrysler's crushing liabilities.
May 14, 2007 The German auto giant DaimlerChrysler will sell a controlling stake of the struggling Chrysler Group for $7.4 billion. The buyer is a private-equity firm, Cerberus Capital Management. DaimlerChrysler will keep a 19.9 percent stake in the new Chrysler Holding LLC.
April 3, 2007 There are more signs that the overall housing market will take a hit from the woes of the subprime mortgage sector. The real estate industry's main trade group expects that unsold homes will pile up as foreclosures mount. That is likely to slow the pace of home sales in coming months.