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Found 3 results

  1. Bloomberg Ford Debt Story Ford's $150 Billion plus short and long term debt is now speculative debt according to Moody's Investors Service and S&P Global Ratings, just a step away from the painful Junk Status that would see Ford's borrowing costs jump massively. Ford is one of the top 15 biggest corporate bond issuers in the U.S. currently and is currently at a performance level equal to 2005 when Ford and GM was cut to Junk status. Bob Shanks, Ford's CFO on their earnings call last month says the company is committed to maintaining its investment-grade ratings and does not intend to lose that status again. This is being shown in their aggressive restructuring of the business, rapid adjustment to the current buying trends of the public globally. Yet with all that positive showing, debt investors have shown they are skeptical that Ford can achieve it. The cost of protecting Ford's debt using credit derivatives rose to their highest level not seen since 2012. Moody's is watching month to month and says that they could take the final step of droping from speculative to junk depending on the final two months of this year. Henry Peabody, a portfolio manager at Eaton Vance Corp. in Boston states that Ford's problems come from a multiple-front war that they are not doing well in. It is a combination of fairly weak strategic position, less than ideal strategic decisions over the last number of years, paired with overconfidence in their Trucks and where the current credit cycle is at. Bill Ford says it is great to have recovered their heritage as an investment grade company after hocking everything including the company logo to the banks. In July Ford told the investment community that a 5 year overhaul at a cost of $11 Billion dollars will have the company focus on high margin products that cover trucks, SUVs, and the performance pony car market. Ford will be exiting the sedan business in the US and scaling it back globally based on sales. Yet with this announcement, they have provided scant info on this restructuring plan and already rescheduled an investor meeting originally set for September. Ford is talking with Volkswagen AG which itself is also hurting, Ford saw a 50% decline in Earnings in the 2nd quarter of 2018, followed by a 40% decline in the 3rd quarter. Shares are at their lowest point since 2009. Ford as speculative debt trades at risk premiums higher than Junk status based Fiat Chrysler and strong investment grade GM indicating according to Bloomberg that Ford is a huge credit risk. The only positive is that Ford has $35 billion in cash on hand as of Sept. 30th. Bloomberg's review shows Ford has options still but they are shrinking fast. Those options will stay as long as Ford can keep their cash flow from high trucks sales going. Sadly, interest rates are rising, the trade war is costing them an extra Billion a quarter for steel and the auto business is cyclical with it currently slowing down. Where Ford ends up is anyone's Guess.
  2. Seems we have about 3 million EV auto batteries coming up to be retired from their 10 year run. Where will they go? What will happen to them, in the ground, laying around like old tires, where? According to Bloomberg, seems countries around the world are holding the auto companies responsible for dealing with the batteries and making sure they do not get put into landfills. According to the story, it seems all auto companies are recapturing money by selling these perfectly good batteries for use as storage system from home to commercial applications around the world. Only then after they truly wear out in 20-30 years will the rare earth elements be recaptured to be used over again in new products. https://www.bloomberg.com/news/features/2018-06-27/where-3-million-electric-vehicle-batteries-will-go-when-they-retire Seems that from Tesla, GM, Toyota to BYD that the auto batteries have become a total side business that is expected to yearly run around $550 Billion a year in building and selling a Box of Energy or Powervault or whatever they end up calling it. In fact you could very well end up buying your next EV auto along with a home power storage system from your local dealership.
  3. G. David Felt Staff Writer Alternative Energy - www.CheersandGears.com Bloomberg Predicts another OIL Crash with NO Recovery, Maybe Many of us are excited with the big drop in oil prices and finally gas prices retreating to below $2 a gallon in many places around the US. Some here on Cheers and Gears even feel that alternative energy auto's are a waste of time or should not even be bothered with. So it was with interest when I saw this story on Bloombergs web site. Another Oil Crash Is Coming, and There May Be No RecoveryThe focus on this is that with Tesla in 2017 and Chevy later this year, 2016 beginning to sell 200 Mile, $30,000 auto's, other Auto OEMs spending Billions to also field electric auto's with long battery pack range that the days of Dino powered auto's are limited. Bloomberg clearly states that OPEC and even ExxonMobil have reported that they only see EV auto's making up 1% at most by 2040 on the planet. What no one saw was the Huge growth in US oil fields in 2014 and a global glut of 2 million barrels of oil a day sitting on the market. Bloomberg reviewed world wide data to see that EV Auto's grew by 60% in 2015, show no signs of slowing down among governments push to reduce smog in cities around the world. Based on buying trends and who fast things can change, Bloomberg is predicting that by 2023 we will see another 2 million barrels of Oil being unused on the market leading to this prediction of another crash and the power of the Oil Companies being reduced. The video they have on their story is also very interesting to watch and listen too. Review the original story, watch the video and sound off on what you think of the OIL Industry and where we are headed with auto's! Bloomberg Oil Crash Story
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