Attention Steve Rattner: Please Check This Out

As the clock ticks on labor and creditor negotiations for the Detroit 3 (it seems like only yesterday that people called them the Big 3) ahead of the March 31 deadline for the thumbs up/down decision, it might be prudent to look at this. All over the world millions of brand new unsold cars are piling up in vacant lots. Perhaps it is not a bad idea for GM to again reasses its 2009 vehicle sales target of 10.5 million. Sphere: Related Content

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Layoff Watch: Hertz Laying off 4,000 Workers

Hertz is firing a lot of very bored, airport rental lot operators. The heavily leveraged auto rental company (CDS in the 1250's last time we cared), is hoping firing a third of its workforce (as compared to August 2006) will make it profitable. Nonetheless, Mark Frissora, CEO, is not unduly optimistic: "Volume, pricing and residual values continued to decline during the most recently completed quarter, and we cannot predict when our markets will improve." He adds total liquidity at Dec. 31, 2008 was $4.9 billion, so Hertz will likely not be on our Death Watch any time soon (although we have been surprised in the past). Sphere: Related Content

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