December 30, 2007
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Archive for December, 2007
General Motors Says It Will Be Profitable In 2002 - Brief Article
Ford Motor Co. and the Chrysler Group of DaimlerChrysler AG saw sales increases of 36.3 percent and 5 percent, respectively. Part of the sales surge tied to the offer of no-interest financing, which GM, Ford and Chrysler initiated in a bid to get consumers spending again following the Sept. 11 terrorist attacks.
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Talley Defense Systems, a Mesa, Ariz.-based company, designs, develops, tests and manufactures high reliability propellant-related components and sub-systems used in military aircraft and missiles, as well as ordnance systems.
Q: Speaking of flexibility, how will GM respond if the price for fuel continues its rapid upward spiral?
While the no-interest financing resulted in a sales spike, it also took a deep bite out of each automaker’s profit margins. GM said it will extend the zero interest offer until early January, and other auto producers will likely follow GM’s lead.
Talley Industries is a diversified designer, manufacturer and supplier of aerospace, industrial and commercial products and services including high-reliability electronic components and stainless steel rod and bar products.
There are other hurdles such as the availability of low-sulfur fuel and a solution to the particulate-emissions problem. California standards in the proposal stage are intended to kill diesels entirely. Unfortunately, the technical solutions are very costly. Some give and take will be necessary between manufacturers and regulators for diesels to be viable.
To counteract the expected revenue shortfall, GM is setting its sights higher for cost cutting, a spokesman said.
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Five new engine families will soon handle 90 percent of GM’s worldwide needs. Each architecture provides a range of piston displacements and some, such as the new Vortec I-6, can easily be built as a 4-, 5-, or 6-cylinder engine. These new engines are also engineered for various technologies to be added as needed, such as displacement-on-demand and direct fuel injection.
A: I firmly believe that diesels can be an effective means of improving efficiency. BMW and Mercedes diesel-powered luxury sedans are wonderfully quiet and well-integrated vehicles. We’ll need a high-end model like that to help regain diesel credibility in the American market.
Our manufacturing flexibility comes from new equipment capable of producing both I-6 or V-8 crankshafts, and machining cells that can be reprogrammed to quickly switch from one cylinder head to another. With our partners, Suzuki, Fuji and Isuzu, we own 24 percent of the world’s light-duty powertrain capacity; so whenever we need to move to a smaller four or a different six, it’s easy for us to tap under-utilized equipment.
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Talley Industries teams with General Motors Division
Talley Defense Systems, a Mesa, Ariz.-based company, designs, develops, tests and manufactures high reliability propellant-related components and sub-systems used in military aircraft and missiles, as well as ordnance systems.
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December 29, 2007
DURA Automotive Wins General Motors Glass Contract
DURA Automotive is the #1 North American supplier of manual and power sliding rear windows for the truck and sport-utility vehicle (SUV) market. DURA produces sliding window systems for the Dodge Dakota, Dodge Ram, Ford F150, Ford Sport-Trac, Nissan Frontier and Chevrolet Colorado pickup trucks.
“We’re pleased to expand our GM partnership. Significantly, this window contract gives DURA’s Glass Division Tier 1 status with GM,” said Larry Denton, president and chief executive officer, DURA Automotive Systems. “The program further strengthens our market leadership in rear-sliding windows. It also exemplifies our growing ability to offer best-in-class products through superior prices and technology.”
About DURA Automotive Systems
DURA Automotive Systems, Inc., is the world’s largest independent designer and manufacturer of driver control systems and a leading global supplier of seating control systems, engineered assemblies, structural door modules and integrated glass systems for the global automotive industry. The company is also a leading supplier of similar products to the North American recreation vehicle and mass transit market. DURA sells its automotive products to every North American, Japanese and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com.
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DURA Automotive Systems, Inc. (Nasdaq:DRRA) today announced it has been awarded a contract from General Motors Corp. (GM) to provide rear-sliding windows for GM’s current North American line of full-size pickup trucks, including the Chevrolet Silverado and GMC Sierra. Production is slated to begin in July 2003.
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BMW Assist
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ROCHESTER HILLS, Mich.–(BUSINESS WIRE)–Feb. 26, 2003
DURA Automotive is the #1 North American supplier of manual and power sliding rear windows for the truck and sport-utility vehicle (SUV) market. DURA produces sliding window systems for the Dodge Dakota, Dodge Ram, Ford F150, Ford Sport-Trac, Nissan Frontier and Chevrolet Colorado pickup trucks.
“We’re pleased to expand our GM partnership. Significantly, this window contract gives DURA’s Glass Division Tier 1 status with GM,” said Larry Denton, president and chief executive officer, DURA Automotive Systems. “The program further strengthens our market leadership in rear-sliding windows. It also exemplifies our growing ability to offer best-in-class products through superior prices and technology.”
About DURA Automotive Systems
DURA Automotive Systems, Inc., is the world’s largest independent designer and manufacturer of driver control systems and a leading global supplier of seating control systems, engineered assemblies, structural door modules and integrated glass systems for the global automotive industry. The company is also a leading supplier of similar products to the North American recreation vehicle and mass transit market. DURA sells its automotive products to every North American, Japanese and European original equipment manufacturer (OEM) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com.
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EMPIRE STATE/CHRYSLER SALT/PEPPER SET
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Fitch Downgrades Debt of General Motors and GMAC to ‘BBB+’
The downgrade is the result of an increasingly more negative incentives environment, weaker than expected share performance in the key US light vehicles market (down to 27.3% calendar year to date), ongoing concerns about healthcare / pension costs, and longer term concerns about GM’s competitive position especially in the key US market and especially in light of the upcoming United Auto Workers (UAW) negotiations. Positives include GM’s strong liquidity position, the extended nature of its debt maturity schedule, strong product introductions such as the Hummer H2, better product mix in North America, stronger pension asset performance, and the strong performance at GMAC and in the Asia Pacific region.
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On behalf of the Board of Directors, PACIFIC INSIGHT ELECTRONICS CORP.
One of Fitch’s foremost concerns is that the current pricing environment may have permanently lowered the profitability profile of those companies that have most strongly participated. In the case of GM, Fitch is concerned that GM may be unable to restore the margins that have been lost over the last two years. This is especially true in the car portfolio which has been a laggard for several years. Although good new products can be helpful in increasing profitability, it is not clear to what degree, as the industry has shortened its product cycle substantially over the last five years. Innovative and well positioned products like the H2 and the XLR have demonstrated that it is possible to hold relatively stable in this very negative pricing environment. However, these are relatively niche products that do not represent substantial volumes. The counter to that are the Cadillac ESV and CTS which already have low rate financing in place. Finally, although we recognize the benefits of a consistent marketing message, we feel that at this point GM is leaving money on the table in that its consistent message is hurting the overall profitability of the company. GM has lost both pricing and share in the US (down from 28.1% CYTD in 2002 to 27.3% in 2003). Although Fitch recognizes that there are other factors at work (such as capacity utilization concerns), much of this is happening despite the fact that GM has what we consider a generally competitive overall portfolio of vehicles (especially trucks).
In Canada, Daytime Running Lamps have been mandatory in new vehicles since 1990. Pacific Insight has been the sole aftermarket supplier to GM Canada and many other vehicle manufacturers for this Canadian requirement. Insight has sold over 40,000 units through GM dealers in Canada since its introduction. With DRL now moving across the border to the US, Insight expects that sales should be 5 to 10 times the sales which were achieved in Canada.
The Vancouver Stock Exchange has not yet reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Pacific Insight Electronics, located in Nelson, B.C., manufactures Daytime Running Lamps, Automatic Headlight Control Systems, Police and Emergency Vehicle Accessories, Vehicle Security Products, Truck Lighting and Computer Components and Electronic Control Modules both for Original Equipment and Aftermarket customers. Pacific Insight’s major customers include Avis Rent a Car, Alamo Rent a Car, Dominion Automotive, Eaton Corp., General Motors Corporation, Navistar Trucks, Peterson Manufacturing, Volvo-GM Heavy Truck and Western Star Trucks.
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Fitch has downgraded the senior unsecured debt of General Motors Corporation (GM) and its financial services subsidiary, General Motors Acceptance Corp. (GMAC) and related entities to ‘BBB+’ from ‘A-’. Fitch affirms the corresponding commercial paper ratings at ‘F2′. The Rating Outlook remains Negative. A list of all affected ratings is detailed at the end of this release.
General Motors Corp. has recently announced that it will be offering Daytime Running Lamps as a standard feature on all new vehicles by 1997. GM has already begun offering this feature on 4 models in 1995. General Motors is now actively promoting DRL availability in national television, radio and print corporate advertising. This national exposure will create demand for the product.
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Pacific Insight named as General Motors DRL supplier
CHICAGO–(BUSINESS WIRE)–June 19, 2003
The downgrade is the result of an increasingly more negative incentives environment, weaker than expected share performance in the key US light vehicles market (down to 27.3% calendar year to date), ongoing concerns about healthcare / pension costs, and longer term concerns about GM’s competitive position especially in the key US market and especially in light of the upcoming United Auto Workers (UAW) negotiations. Positives include GM’s strong liquidity position, the extended nature of its debt maturity schedule, strong product introductions such as the Hummer H2, better product mix in North America, stronger pension asset performance, and the strong performance at GMAC and in the Asia Pacific region.
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On behalf of the Board of Directors, PACIFIC INSIGHT ELECTRONICS CORP.
One of Fitch’s foremost concerns is that the current pricing environment may have permanently lowered the profitability profile of those companies that have most strongly participated. In the case of GM, Fitch is concerned that GM may be unable to restore the margins that have been lost over the last two years. This is especially true in the car portfolio which has been a laggard for several years. Although good new products can be helpful in increasing profitability, it is not clear to what degree, as the industry has shortened its product cycle substantially over the last five years. Innovative and well positioned products like the H2 and the XLR have demonstrated that it is possible to hold relatively stable in this very negative pricing environment. However, these are relatively niche products that do not represent substantial volumes. The counter to that are the Cadillac ESV and CTS which already have low rate financing in place. Finally, although we recognize the benefits of a consistent marketing message, we feel that at this point GM is leaving money on the table in that its consistent message is hurting the overall profitability of the company. GM has lost both pricing and share in the US (down from 28.1% CYTD in 2002 to 27.3% in 2003). Although Fitch recognizes that there are other factors at work (such as capacity utilization concerns), much of this is happening despite the fact that GM has what we consider a generally competitive overall portfolio of vehicles (especially trucks).
In Canada, Daytime Running Lamps have been mandatory in new vehicles since 1990. Pacific Insight has been the sole aftermarket supplier to GM Canada and many other vehicle manufacturers for this Canadian requirement. Insight has sold over 40,000 units through GM dealers in Canada since its introduction. With DRL now moving across the border to the US, Insight expects that sales should be 5 to 10 times the sales which were achieved in Canada.
The Vancouver Stock Exchange has not yet reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Pacific Insight Electronics, located in Nelson, B.C., manufactures Daytime Running Lamps, Automatic Headlight Control Systems, Police and Emergency Vehicle Accessories, Vehicle Security Products, Truck Lighting and Computer Components and Electronic Control Modules both for Original Equipment and Aftermarket customers. Pacific Insight’s major customers include Avis Rent a Car, Alamo Rent a Car, Dominion Automotive, Eaton Corp., General Motors Corporation, Navistar Trucks, Peterson Manufacturing, Volvo-GM Heavy Truck and Western Star Trucks.
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-0-
Fitch has downgraded the senior unsecured debt of General Motors Corporation (GM) and its financial services subsidiary, General Motors Acceptance Corp. (GMAC) and related entities to ‘BBB+’ from ‘A-’. Fitch affirms the corresponding commercial paper ratings at ‘F2′. The Rating Outlook remains Negative. A list of all affected ratings is detailed at the end of this release.
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General Motors Electro-Motive Division
Total weight on rails is 126 metric tons, with a height of 4.12 meters. The GT46MAC, says EMD, outperforms the earlier 645E engine in fuel efficiency by 12%. Its HTSC Trucks provide high adhesion and high speed, with available gear ratios for heavy-haul and passenger operation. No wearing surfaces extend truck overhaul intervals to 992,000 miles.
The downgrade is the result of an increasingly more negative incentives environment, weaker than expected share performance in the key US light vehicles market (down to 27.3% calendar year to date), ongoing concerns about healthcare / pension costs, and longer term concerns about GM’s competitive position especially in the key US market and especially in light of the upcoming United Auto Workers (UAW) negotiations. Positives include GM’s strong liquidity position, the extended nature of its debt maturity schedule, strong product introductions such as the Hummer H2, better product mix in North America, stronger pension asset performance, and the strong performance at GMAC and in the Asia Pacific region.
Advertisement
On behalf of the Board of Directors, PACIFIC INSIGHT ELECTRONICS CORP.
One of Fitch’s foremost concerns is that the current pricing environment may have permanently lowered the profitability profile of those companies that have most strongly participated. In the case of GM, Fitch is concerned that GM may be unable to restore the margins that have been lost over the last two years. This is especially true in the car portfolio which has been a laggard for several years. Although good new products can be helpful in increasing profitability, it is not clear to what degree, as the industry has shortened its product cycle substantially over the last five years. Innovative and well positioned products like the H2 and the XLR have demonstrated that it is possible to hold relatively stable in this very negative pricing environment. However, these are relatively niche products that do not represent substantial volumes. The counter to that are the Cadillac ESV and CTS which already have low rate financing in place. Finally, although we recognize the benefits of a consistent marketing message, we feel that at this point GM is leaving money on the table in that its consistent message is hurting the overall profitability of the company. GM has lost both pricing and share in the US (down from 28.1% CYTD in 2002 to 27.3% in 2003). Although Fitch recognizes that there are other factors at work (such as capacity utilization concerns), much of this is happening despite the fact that GM has what we consider a generally competitive overall portfolio of vehicles (especially trucks).
In Canada, Daytime Running Lamps have been mandatory in new vehicles since 1990. Pacific Insight has been the sole aftermarket supplier to GM Canada and many other vehicle manufacturers for this Canadian requirement. Insight has sold over 40,000 units through GM dealers in Canada since its introduction. With DRL now moving across the border to the US, Insight expects that sales should be 5 to 10 times the sales which were achieved in Canada.
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