Article Abstract:
Ford Motor's purchase bid of $6 billion for automobile manufacturer Daewoo Corp is expected to win in the race to acquire Daewoo. The bid by Ford is almost the same as the joint bid by Hyundai and DaimlerChrysler. However, analysts observe that Ford's bid is favored by Daewoo's creditors. DaimlerChrysler Chmn Juergen Schrempp's statement that his company is only interested in parts of Daewoo and that it is not interested in an outright takeover, reveals that DaimlerChrysler's bid for Daewoo was only made for Hyundai's sake.
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Article Abstract:
Nissan Motor Company Ltd is expected to post a net income f $937 million for the year ending in Mar 2001. Analysts made the prediction after a meeting in Oct 2000, with Nissan Pres Carlos Ghosn who was hired by Renault to manage a corporate turnaround for Nissan. Analysts believe that Ghosn's plan, which includes plant closures, job cuts and asset sales, is paying off. Another factor in the expected turnaround is a healthier US operation which is a perennial money loser for the company.
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Article Abstract:
Ford Motor Co has received support from some Wall Street analysts on Oct 18, 2000. This despite a decline in third-quarter earnings and continued uncertainty about the tire recall conducted by Firestone. Its earnings for the quarter dropped 7% to $888 million which is attributed to $500 million spent on the recall of 6.5 million Firestone tires, which were mostly mounted on Ford's Explorer sport-utility vehicle.
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