This result underscores our concern about GM's earnings concentration, which may be even more acute than we have estimated.
More Quotes from Rod Lache:
This is no big surprise. It's been rumored for some time. As far as share price, I think it depends on who they put in there. Right now there's a vacuum. If they put someone in who is shareholder-oriented, it should help.Rod Lache
Language in the filing seems to suggest that a deal is not imminent and may not happen at all. Since the company appears to have suggested to the rating agencies that it expects resolution by the end of first quarter, we perceive elevated risk surrounding the sale.
Rod Lache
Generally the product is a low volume product, very engineering intensive, so it's expensive to make. GM has too much car capacity and not enough truck capacity. Car plants are operating close to 70 percent capacity, while truck plants are close to 100 percent. You can use that manufacturing plant, maybe for a hybrid sports utility vehiclecar.
Rod Lache
We believe liquidity pressures, combined with a weak fundamental outlook could compel Dana to pursue debtor in possession financing and a Chapter 11 reorganization. Given restrictions on secured borrowing and pressure from its suppliers, Dana may not be successful in obtaining sufficient out of bankruptcy secured bank financing.
Rod Lache
It doesn't give them the critical mass they need in Japan or any other Asian market. They want to have 25 percent of the Asian market. It's very strongly implied there will be more ma activity in the market.
Rod Lache
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