If you take out the fleet aberration, the sales were closer to what everyone expected.
Better to have York as an informed insider helping with the turnaround effort than to have him pressuring from the outside, despite the amicable relationship. He's solid, experienced and may provide some spark to the process.
Most of their operating profit comes from the U.S.. Everyone's been hurt by rising oil and gas, especially smaller and mid-sized pickups.
What it means for the bid, in order for GM to accomplish its goals, is that KKR needs to find another bank.
I'd like to see guidance on 2006 that ties all this together. I'm still somewhat skeptical of the degree of cost savings.
Separation from GM is critical, if they're able to secure an investment-grade rating, that's great news for bond investors.
GMAC bondholders would be delighted to see a transaction of some sort take place.
This is long-awaited good news for bond investors. The next question is whether the new unit will have an investment-grade rating.
It was surprisingly negative, well below the low end of the most pessimistic analysts, which is no small feat.
