This list is arranged in descending order, according to the total number of store closings planned for 2009. It was last updated on 11-15-09 Some chains, like Office Depot, began their store closings in 2008, but the closings will be completed in 2009 (Farfan, B., 2009).
2,639 General Motors
960 Blockbuster
789 Chrysler
567 Circuit City
461 KB Toys
450 Movie Gallery (Game Crazy, Hollywood Video)
365 Ritz Camera
273 Starbucks
287 Goody’s
265 Jones Apparel Group (2009 & 2010)
240 Waldenbooks
191 Zale Corporation
175 Van Heusen
163 Ann Taylor (by 2010)
161 InkStop
160 Family Dollar
150 Popeye’s (AFC Enterprises)
135 S&K Famous Brands Inc.
130 Advance America
129 Boater’s World
125 F.Y.E. (Trans World Entertainment)
121 Eddie Bauer
118 Office Depot
117 Rite Aid
104 Finlay Enterprises
102 Payless Shoes
100 Albertsons
100 Charming Shoppes
100 Gap, Inc.
Il colosso tecnologico finlandese Nokia detiene il maggior valore associato al marchio tra tutte le aziende europee. Il dato emerge dalla graduatoria formulata dall'European Brand Institute di Vienna, che ha esaminato oltre 3 mila marchi di aziende in 24 paesi e in 16 settori. L'EBI ha messo in ordine i brand più conosciuti al mondo a seconda del loro valore commerciale. Un brand rinomato consente, infatti, alle aziende di godere di una reputazione particolare fra clienti e impiegati, permettendo loro di trattenere entrambi anche davanti a concorrenti che offrano prezzi e contratti migliori. I marchi europei di maggior valore sono i seguenti:
Segue:
Enel ricavi del terzo trimestre del 2009 sono pari a 17.230 milioni di euro...
È stato presentato il Piano-Chrysler 2010-2014...
Le autorità della Serbia hanno dato il via ai negoziati sul prestito promesso da Mosca...
Il gruppo Pirelli Real Estate ha chiuso i primi 9 mesi 2009 con una perdita netta di 58 milioni...
Sono circa 4 milioni gli italiani che per connettersi alla propria e-mail utilizzano dispositivi mobili...
Dai dati Confindustria Aica emerge la previsione di un recupero dell'attività alberghiera italiana...
Al momento Caritas e Cisl sono, tra i grandi esclusi del 5 per mille del 2007...
JCDecaux SA ha chiuso il terzo trimestre 2009 con ricavi diminuzione del 12,9%...
Dal 2007 a oggi, Turner Italia vede salire la propria audience di oltre il 125%...
Ispiratasi alla potenza e al design della mitica Lamborghini Murciélago LP 640, TAG Heuer...
L'operatore di telecomunicazioni Swisscom ha penalizzato i propri concorrenti con la sua politica sui prezzi...
Continua...Il colosso tecnologico finlandese Nokia detiene il maggior valore associato al marchio... more
The Italian carmaker expects to reintroduce Alfa Romeo to the US market and add many models that work in Europe. Many old US models will be phased out.
Four months after exiting a U.S.-funded bankruptcy reorganization, Chrysler Group is about to unveil a product roadmap that relies heavily on vehicles from Italian partner Fiat (FIATY) while abandoning many of the U.S. carmaker's own models.
The plan, due to be unveiled Nov. 4, involves the reintroduction of Fiat's premium, sporty Alfa Romeo brand to the U.S. starting in 2012, The Wall Street Journal reported this afternoon.
Chrysler also will introduce the 500, Fiat's tiny car that is popular in Europe, to Americans. It won't, however, attach the Fiat name to it.
Chrysler meantime is preparing to phase out many of its current models, particularly Dodge cars, the Journal said.
Fiat and Chrysler are working to create several new vehicles with Fiat technology for the U.S. market, including a midsize Chrysler-brand sedan to be released in 2012.
The sweeping changes, due to play out over the next two to three years, represent a big gamble for Chief Executive Sergio Marchionne, who has staked his reputation on the turnaround.
Marchionne, who successfully revamped Fiat, appears to be creating a vehicle lineup that stays true to Chrysler's blue-collar muscle-car and pickup roots while adding European-style vehicles to attract a new, more white-collar customer.
But in the short term, Marchionne's task is to keep the company afloat until 2012 when the bulk of the new offerings will come to the U.S.
Chrysler is faced now with shrinking market share and few new models coming to market. While it doesn't disclose its finances, Fiat has said repeatedly it won't inject any money into Chrysler despite receiving a 20% ownership stake in the company's reorganization.The Italian carmaker expects to reintroduce Alfa Romeo to the US market and add many... more
The White House is calling for pay cuts for top ranking executives at the companies that received bailout funds (AIG, GM, Chrysler, Chrysler Financial, Bank of America, Citigroup, and GMAC). The administration wants the top 25 highest paid executives of these companies to take a 90% pay cut from last year. But the administration isn't stopping there. It also wants to reduce the amount of perks and bonuses executives can receive.
Does this mean that business executives will start to live like regular people?The White House is calling for pay cuts for top ranking executives at the companies... more
The nation's automakers are bracing for quieter showrooms and slower sales this autumn after the Cash for Clunkers program offered a big but unsustainable boost in August.The nation's automakers are bracing for quieter showrooms and slower sales this autumn... more
These sport cars can be quite practical and reliable high-performance vehicles to suit high status communities and car enthusiasts.These sport cars can be quite practical and reliable high-performance vehicles to suit... more
GM now has 219 new CEOs to tell it how to run its business. Good luck making decisions now, boys.GM now has 219 new CEOs to tell it how to run its business. Good luck making decisions... more
AUBURN HILLS, Mich. — In a surprise move here this morning amid struggling sales numbers from its dealers and fuel-efficient buzz from competitors, Chrysler announced that it's charging into the electric vehicle market a lot sooner than expected. The automaker just unveiled a trio of battery-powered vehicles—including an all-electric, 200-mile-range Dodge sports car that we revved up near its 120-mph top speed on the test track and think could give the Tesla Roadster a run for its money—and plans to bring one of them to market by 2010, aligning Chrysler with the timetable for General Motors' Chevy Volt.
Chrysler officials, who reinforced their case for an entirely hybrid fleet at least partially powered by batteries, said at a news conference on Tuesday that they're aiming to sell all three cars—extended-range plug-in versions of a Jeep Wrangler and Chrysler Town & Country were unveiled in addition to the Dodge EV—within a decade. But how fast they reach dealerships, CEO Bob Nardelli cautioned, may well depend on whether the federal government comes through with a package of loan guarantees for Detroit's Big Three.
"You're going to see the electrification of all vehicles" in the years ahead, said Frank Klegon, Chrysler's executive vice president for product development. That will range from full battery power to simpler systems, like Stop/Start, which temporarily shuts off an engine at a stoplight. Indeed, Klegon forecasts that "at least 50 percent of the market" will consists of pure EVs or extended-range electric vehicles (EREVs) by around 2020.
The former category very well could include the Dodge EV. If the look is familiar, that's because the body and platform are borrowed from the Lotus Europa sportscar (not the Lotus Elise, as you might first imagine). There have been minor modifications made to squeeze in a 200-kilowatt motor and a lithium-ion battery pack that, in production, would yield somewhere between 150 and 200 miles on a charge. Doug Quigley, engineering lead for Chrysler's ENVI advanced powertrain division that is also working on three concepts we saw at the Detroit auto show this year, said the rear-drive two-seater should be able to launch from 0-to-60 in under 5 seconds. He wouldn't say how much under, but the goal is to be faster than the Lotus with a target of the mid-13-second range for the 1/4-mile run. And if our 20-minute test drive on the 2-mile track here is any indication, that should be very doable. The new EV handles like a charm, with sharp steering and some serious giddyup—we could feel the 100-plus-mph beneath us while hearing nary a thing.
The Jeep and Chrysler plug-ins, like the Volt, both fall into the extended-range category to combine battery and gasoline power. And like GM, Chrysler is aiming for a 40-mile range on electric charges alone, claiming that both vehicles should be able to hit 400 miles with an 8- or 9-gal. tank of gas. Chrysler modified its newest Jeep Wrangler for the white plug-in truck unveiled here today—and that should mean the same off-road capabilities. The minivan is a slightly upmodded version of the popular Town & Country, with the underbody tubs—used to hide the Stow-and-Go seats in a conventional Chrysler minivan—housing the large battery packs.
So which of the three new electric cars will come to market first? Chrysler isn't saying—in part, President Tom LaSorda acknowledged, because the company has yet to decide. There are serious questions to answer, including what batteries the company will use—and who will supply them. The good news, Klegon said, is that the number of potential battery vendors has "tripled" in recent years. Coming up with reliable, high-power batteries is a clear challenge, but there's also the issue of cost. Lithium-ion technology is phenomenally expensive, but Chrysler, like its competitors, believes that in high volume, costs should plunge.
FOLLOW LINK FOR COMPLETE ARTICLEAUBURN HILLS, Mich. — In a surprise move here this morning amid struggling sales... more
WASHINGTON — The House approved a spending bill on Thursday that would impede efforts by General Motors and Chrysler to close thousands of their dealerships.
The appropriations bill, which will finance the Treasury Department and other parts of the government, passed 219 to 208. It includes a provision that would force Chrysler and G.M., both of which are partly owned by the government, to restore franchise agreements for dealers facing closure.
The dealers have enjoyed broad bipartisan support in the House for weeks, with leaders from both parties, including the majority leader, Steny H. Hoyer of Maryland, standing behind them.
On Thursday, John A. Boehner of Ohio, the House minority leader, said at a news conference that he “never understood how cutting car dealerships reduces costs for the auto companies.”
“These people paid serious money for these dealerships,” he added. “They’ve got a big investment there in real estate, and all of a sudden they’re out of business.”
In the end, however, Mr. Boehner did not vote for the spending bill, which would also allow local tax revenue to finance abortions for the poor in Washington.
The White House released a statement on Wednesday that endorsed the spending bill as a whole, but opposed the provision protecting car dealers, saying “it would set a dangerous precedent.”
The administration said that the companies’ decision to trim their dealer networks “was a critical part of their overall restructuring” and that the “overwhelming majority of G.M. and Chrysler dealers will continue operating with the new companies.”
And the Senate majority leader, Harry Reid of Nevada, said this week that helping dealers was not at “the top of the agenda in the Senate at this time.”
Chrysler, now in an alliance with Fiat and 8 percent owned by the government, closed 789 of its dealerships last month, about a quarter of its dealer network.
G.M., which recently emerged from bankruptcy and is 61 percent owned by the government, has told more than 1,000 of its dealers that they will close when their franchise agreements expire in October 2010.
Both Chrysler and G.M., as well as the Obama administration’s auto task force, argued that the carmakers’ dealer networks were inefficient. They add that unprofitable dealers are financial drains and that, as the carmakers themselves become leaner, they need fewer dealers.
The dealers and their backers argue that they are far from a burden, pointing out that franchises pay for vehicles, parts and even the right to hang the manufacturer’s sign.WASHINGTON — The House approved a spending bill on Thursday that would impede... more
"Chrysler Group LLC, the US carmaker run by Fiat SpA, said it will no longer pursue the sale of the Dodge Viper sports-car business.
The Detroit plant that makes the $91,000 (Dh334,374) car, powered by a V-10 engine, will continue production, the Auburn Hills, Michigan-based company said yesterday. The factory had been slated to close at the end of 2010.
Chrysler is keeping the Viper business, which had been for sale since August 2008, after the company was formed on June 10 from assets of the bankrupt Chrysler LLC. The Viper unit had 2008 earnings before interest and taxes of $16 million, according to bankruptcy documents."
Cont'd...
-Bloomberg / GulfNews
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Interesting decision by Chrysler to keep the Viper around after all. Those 2008 earnings are pretty telling however... It's hard to cut off a brand that's netting you that sort of money, considering the tough times Chrysler has faced as of late."Chrysler Group LLC, the US carmaker run by Fiat SpA, said it will no longer pursue... more
Fiat will own a 20% stake in the company, which can grow to as much as 35%, and the UAW Retiree Medical Benefits Trust will own 55% of the new Chrysler Group. The rest is split between the U.S. Treasury and Canadian Government at 8% and 2%, respectively.Fiat will own a 20% stake in the company, which can grow to as much as 35%, and the... more
By TOM KRISHER and DAN STRUMPF, AP Auto Writers Tom Krisher And Dan Strumpf, Ap Auto Writers – 43 mins ago
DETROIT – Italy's Fiat is the new owner of most of Chrysler's assets, closing a deal Wednesday that saves the troubled U.S. automaker from liquidation and places a new company in the hands of Fiat's CEO.
The deal clears the way for a new, leaner Chrysler Group LLC to emerge from bankruptcy protection minus billions in debt, 789 underperforming dealerships and burdensome labor costs that nearly sank the storied automaker.
Fiat CEO Sergio Marchionne immediately was named CEO of the new company, which said in a statement that it would soon reopen Chrysler factories that were idled during the bankruptcy process, costing the automaker $100 million per day.
The new company will focus on smaller vehicles, areas in which Chrysler was weak.
"Work is already under way on developing new environmentally friendly, fuel-efficient, high-quality vehicles that we intend to become Chrysler's hallmark going forward," the new company said in a statement.
The Italian automaker won't put any money into the deal but will give Chrysler billions worth of small car and engine technology.
"We intend to build on Chrysler's culture of innovation and Fiat's complementary technology and expertise to expand Chrysler's product portfolio both in North America and overseas," Marchionne said in a statement.
The sale to Fiat SpA marks a victory for the Obama administration, which shepherded Chrysler into Chapter 11 protection on April 30 with the hope that the company would emerge in a matter of months with a new partner.
Marchionne immediately made management changes, including the appointment of Vice Chairman and President Jim Press as deputy CEO and adviser to help with the management transition.
Press, formerly Toyota Motor Corp.'s top U.S. executive, joined Chrysler shortly after it was taken over in 2007 by private equity firm Cerberus Capital Management LP.
In a statement, Marchionne said the organization will be designed to give leaders broad control and increase the speed of decision making.
Chrysler CEO Bob Nardelli bid employees farewell in an e-mail obtained by The Associated Press, while Vice Chairman Tom LaSorda already has retired.
Marchionne, in an e-mail to Chrysler employees Wednesday, expressed confidence that Fiat will be able to turn Chrysler around.
He wrote that he stepped into a similar situation five years ago at Fiat, which at the time was perceived as a failing, bureaucratic automaker that made low-quality cars. Yet most of the people capable of remaking Fiat were there all the time, he wrote.
"We have remade Fiat into a profitable company that produces some of the most popular, reliable and environmentally friendly cars in the world," he wrote. "We created a far more efficient company while investing heavily in our technologies and platforms. And, importantly, we created a culture where everyone is expected to lead. We can and will accomplish the same results here."
On Tuesday, Chrysler won its battle to erase its secured debt after the Supreme Court declined to rule on objections to the sale to Fiat from a trio of Indiana pension and construction funds. The Indiana funds, which hold less than 1 percent of Chrysler's $6.9 billion in secured debt, claimed the sale unfairly favors Chrysler's unsecured stakeholders such as the union ahead of secured debtholders like themselves.
Supreme Court Justice Ruth Bader Ginsburg decided Monday to delay the sale while studying the appeals. But on Tuesday, the court turned down the opponents' last-ditch bid by declining a hearing on the appeals.
Also on Tuesday, Judge Arthur Gonzales approved Chrysler's motion to terminate 789 of its dealer franchises, or about 25 percent of its dealer base.
Many of those dealers closed their doors for good on Tuesday, though some will continue to sell used cars or other brands.By TOM KRISHER and DAN STRUMPF, AP Auto Writers Tom Krisher And Dan Strumpf, Ap Auto... more
Chrysler was a step closer to emerging from bankruptcy protection Wednesday, a day after opponents of the automaker's planned partnership with Italy's Fiat exhausted their appeals in an effort to halt the Obama administration-backed sale.Chrysler was a step closer to emerging from bankruptcy protection Wednesday, a day... more
It's a sad week for hundreds of Chrysler dealers across the country. As the Detroit automaker's bankruptcy process unfolds, dealerships will be either closing shop in the next few days or awaiting the results of a bankruptcy hearing which may give them a chance at survival.
Still, Chrysler has already withdrawn its support for the dealers, which has meant no new inventory, no warranty protection, and no corporate sales offers for buyers. As USA Today reports, hundreds of dealerships are winding down their operations this week. The Detroit automaker has already announced that it is closing 789 dealerships, reducing its network to 2,400.It's a sad week for hundreds of Chrysler dealers across the country. As the Detroit... more
With General Motors going bankrupt and the sale of Chrysler to Fiat hanging on the balance, what better way for a car dealer than to sell all of his staff... (Please handle large blades with care, it is dangerous)From funnyordie.com
With General Motors going bankrupt and the sale of Chrysler to... more
The United States Supreme Court agreed Monday afternoon to delay the sale of most of Chrysler’s assets to Fiat pending further consideration of an appeal by three Indiana state funds, in a move that injects a new element of uncertainty over the carmaker’s bankruptcy case.
Justice Ruth Bader Ginsburg, who handles emergency matters arising from the United States Appeals Court for the Second Circuit, issued a stay of the sale, preventing Chrysler and Fiat from completing the transaction immediately.
The appeals court had delayed the closing of the deal until 4 p.m. Monday or until the Supreme Court declined to issue its own delay.
According to The Associated Press, Justice Ginsburg the sale was "stayed pending further order."
The action indicates that the delay may only be temporary.
Lawyers for the three Indiana funds, which represent teachers and police officers, filed their appeal to Justice Ginsburg late Saturday night, after the Second Circuit reaffirmed a lower court’s approval of the sale.
The Indiana funds have sought greater compensation for their portion of Chrysler’s $6.9 billion in secured debt. They have also argued that the Obama administration illegally used federal bailout money earmarked for financial institutions to help Chrysler.
“The negative economic consequences of permitting an unlawful sale to proceed may well over time dramatically outweigh Chrysler’s short-term harm,” the funds said in their brief.
On Monday, federal officials asked the court to allow the sale without additional delay.
The government, in papers filed by the Office of the Solicitor General, said that stays are only granted under extraordinary circumstances.
Lawyers representing Chrysler, the Indiana funds, the government, Fiat and others made their arguments in a two-hour hearing on Friday before the Second Circuit. The judges issued their decision after a 10-minute recess, affirming a bankruptcy court judge’s approval of the sale.
Lawyers for Chrysler and the government argued that the sale to Fiat should be completed as quickly as possible to preserve Chrysler’s viability and to save thousands of jobs. Fiat can walk away if no agreement is struck by June 15.
Last week, Judge Arthur J. Gonzalez of United States Bankruptcy Court for the Southern District of New York approved the sale to Fiat, overruling more than 300 objections. He later agreed to shorten a customary 10-day stay of the sale to four days, though the Court of Appeals stayed the transaction pending its hearing.
When Chrysler emerges from bankruptcy, a union retiree trust will own 55 percent, Fiat a 20 percent share that could eventually grow to 35 percent, and the United States and Canadian governments minority stakes.The United States Supreme Court agreed Monday afternoon to delay the sale of most of... more
Michael Moore has something to say about American cars and the fate of GM. Here is an excerpt:
"At the deathbed of General Motors, I find myself filled with—dare I say it—joy. Here are my nine suggestions for transforming the company.
I write this on the morning of the end of the once-mighty General Motors. By high noon, the president of the United States will have made it official: General Motors, as we know it, has been totaled.
As I sit here in GM's birthplace, Flint, Michigan, I am surrounded by friends and family who are filled with anxiety about what will happen to them and to the town. Forty percent of the homes and businesses in the city have been abandoned. Imagine what it would be like if you lived in a city where almost every other house is empty. What would be your state of mind?
Who among us wants $50 billion of our tax dollars thrown down the rat hole of still trying to save GM?
It is with sad irony that the company which invented "planned obsolescence"—the decision to build cars that would fall apart after a few years so that the customer would then have to buy a new one—has now made itself obsolete. It refused to build automobiles that the public wanted, cars that got great gas mileage, were as safe as they could be, and were exceedingly comfortable to drive. Oh—and that wouldn't start falling apart after two years. GM stubbornly fought environmental and safety regulations. Its executives arrogantly ignored the "inferior" Japanese and German cars, cars which would become the gold standard for automobile buyers. And it was hell-bent on punishing its unionized workforce, lopping off thousands of workers for no good reason other than to "improve" the short-term bottom line of the corporation. Beginning in the 1980s, when GM was posting record profits, it moved countless jobs to Mexico and elsewhere, thus destroying the lives of tens of thousands of hard-working Americans. The glaring stupidity of this policy was that, when they eliminated the income of so many middle-class families, who did they think was going to be able to afford to buy their cars? History will record this blunder in the same way it now writes about the French building the Maginot Line or how the Romans cluelessly poisoned their own water system with lethal lead in its pipes..."Michael Moore has something to say about American cars and the fate of GM. Here is an... more
General Motors Corp., the century-old automaker battered by the economic downturn, mounting debt and management problems, will file for bankruptcy Monday.General Motors Corp., the century-old automaker battered by the economic downturn,... more
A federal judge on Sunday night cleared a path for Chrysler to exit bankruptcy by approving a sale of most of the carmaker’s assets to a new entity to be run by Fiat of Italy.
Judge Arthur J. Gonzalez of the United States Bankruptcy Court for the Southern District of New York approved the government-backed plan after three days of marathon hearings on the proposal. On Friday, testimony and arguments in federal bankruptcy court in Manhattan lasted nearly 12 hours.
With the approval, a newly reorganized Chrysler could come out of bankruptcy as early as this week, about a month after seeking protection, an extraordinarily short amount of time for a reorganization.
When Chrysler emerges — while General Motors is entering bankruptcy protection — it will have a new ownership structure, with a union retiree trust owning 55 percent, Fiat holding a 20 percent share that could eventually grow to 35 percent, and the United States and Canadian governments owning minority stakes.
It will also have a new board and a new chairman, C. Robert Kidder, the former chairman of Borden Chemical and of Duracell.
Even with the approval, the deal’s closing could be delayed. Lawyers for three Indiana state funds are expected to appeal the decision. And an automatic 10-day stay is in effect to allow for any appeal, though Chrysler’s lawyers will almost certainly seek to shorten that period.
The three funds, which include pensions for Indiana teachers and police offers, have objected to the sale, arguing that they deserve more than the 29 cents on the dollar that they and other secured lenders will receive as repayment. Chrysler holds about $6.9 billion in secured debt; of that, the Indiana funds hold about $42.5 million, or about 1 percent. They acquired those holdings in July 2008 for 43 cents on the dollar.
Lawyers for these funds have questioned whether Chrysler could have fetched a better deal than the Fiat transaction or through a liquidation.
Other objectors included several groups of Chrysler dealers, representing some of the 789 that will be cut as part of the Fiat sale. These groups argued that Fiat should be forced to accept more dealers, or that the deal should be delayed to give them more time to change Fiat’s mind.
Chrysler claims that any delay could push Fiat to back out; it has until July 15 to wrap up a transaction.A federal judge on Sunday night cleared a path for Chrysler to exit bankruptcy by... more
Chrysler and General Motors alert local dealerships they're closing in a classy way -- by sending them letters.Chrysler and General Motors alert local dealerships they're closing in a classy way --... more
