Eric Selle


Eric Selle News

  • Marchionne Bond Gains Show Chrysler Plan Converts Critics

    Less than three and a half years after Chrysler Group LLC’s bankrupt predecessor paid out 29 cents on the dollar to creditors, Chief Executive Officer Sergio Marchionne can point to the bond market for an endorsement.

  • Marchionne Duels UAW’s Chrysler Director Over $6 Billion

    Sergio Marchionne drives a hard bargain. After all, the Fiat SpA chief executive officer gained control of Chrysler Group LLC in 2009 for nothing.

  • GM at $100 a Share May Tempt Warrant Holders, Dilute U.S. Stake

    General Motors Co. may be able to command a stock price greater than $100, tempting holders of warrants to buy shares that would reduce the U.S. government’s controlling stake.

  • Ed Whitacre Battles to Save GM from Itself

    By David Welch April 29 (Bloomberg BusinessWeek) -- The 15 General Motors dealers who flew to Detroit last September for a dinner with GM management were not an easily rattled bunch. They had endured the worst auto sales slide in 25 years, as well as the bankruptcy of the iconic carmaker on which they had built their businesses. Only three months had passed since GM accepted a $50 billion federal bailout, announcing the retirement of four of its eight brands and the shutting down of 1,900 dealers—a third of its domestic retail network. These dealers were the survivors, some of the more prosperous people in their towns, and they wanted a little reassurance. CEO Fritz Henderson gathered the group in a private conference room at the Westin Detroit Metro Airport and tried to demonstrate that he had a plan, according to an executive in the room who asked not to be named because he was not authorized to describe the dinner. Henderson announced that GM was going on the

  • Icahn to Rachesky Circle Navistar With Bonds Below Par

    Navistar International Corp. has gone from being more creditworthy than its peers to less in the past 3 weeks as a drop in earnings signal troubles beyond its bet on a new engine that has yet to win regulatory approval.

  • GM's Request for Opel Assistance Rejected by Germany

    Germany turned down General Motors Co.’s request for 1.1 billion euros ($1.3 billion) in aid for its money-losing Opel division, forcing the automaker to seek new ways to reorganize the unit.

  • General Motors Gives $6.66 Million in Stock to Top Executives

    General Motors Co., the largest U.S. automaker, gave stock valued at $6.66 million to 14 top managers, including $1.33 million worth to Chairman and Chief Executive Officer Ed Whitacre .

  • Ford Sells 10-Year Debt as Ascent to Investment Grade Quickens

    Ford Motor Credit Co., the finance unit of the second-largest U.S. automaker, sold $1 billion of notes as analysts project the parent company may regain investment-grade status in the next six months.

  • GM Vehicles Getting Higher Prices as It Prepares IPO

    General Motors Co., preparing for an initial public offering as soon as the fourth quarter, said U.S. consumers are paying more per vehicle than last year.

  • U.S. Corporate Credit Swaps Climb by Most in Three Weeks

    A benchmark gauge of corporate credit risk rose by the most in almost three weeks after data showed service industries in the U.S. expanded less than forecast as the economic recovery struggles to gather pace.

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