The Canadian government will provide Toyota Motor Corp.'s Canadian manufacturing unit a loan of about C$16.9 million ($16.9 million) to help produce a hybrid version of the Lexus sport utility vehicle in Ontario, Prime Minister Stephen Harper said Wednesday.
The project will create about 400 jobs at Toyota's Cambridge, Ontario plant and the vehicle is expected to begin production in 2014, according to a statement. The investment is part of the government's Automotive Innovation Fund, a five-year, C$250-million plan to support research and development for automotive companies in Canada.
Deutsche Bank downgraded Ford (NYSE: F) from Buy to Hold with a price target of $15.00 (from $13.00), citing valuation. They prefer GM.
"Comparing the upside/downside risks, we prefer GM (NYSE: GM) to Ford has potential
GM has an enterprise value of $30.58B with a market cap of $44.84B. GM has a total cash of $31.92B with a total debt of $16.65B. GM has a book value of $19.97 per share. GM generates an operating cash flow of $11.27B with a levered free cash flow of -2.06B. GM's operating margin of 3.2%, ttm, and net margin of 2.9%, ttm, are lower than the industry averages of 4.3% and 5.4%, ttm, respectively. GM also generates lower ROE of 13.5, comparing to the industry average of 14.9. GM's P/E of 11.0 is higher than the industry average of 9.2. However, GM's forward P/E is only 5.5, which is lower than S&P 500's average of 13.3.
A friend of mine, a coal miner is in the process of moving to Canada to work in the mines there. He says he will have greater job security there. This gov't wanting to be all green is killing jobs in the coal industry.
Reasoning????? Idiot politicians.
We should be letting business, the economy drive green industry, not pushed down the throats by idiot gov't. Just like the VOLT, it would come about when it is its time.
I'm surprised they would let him move there? I don't think they will let him become a citizen. I checked into it once for kicks and they said unless your starting business that employees so many people it was a no go.
24 cents higher then it was 8 weeks ago even with big builds in supply every week with a extra build of 34.7 Million Barrels. Yep the consumer has plenty of money for the Wall Street Casino to steal.
RBOB Gasoline Feb 13 (RBG13.NYM)
2.84 0.01(0.23%) 5:45PM EST
Canada, Ontario invest $34 million to retool Toyota plant for Lexus hybrid
The Canadian and Ontario governments will invest nearly $34 million to help retool a Toyota Motor Corp. plant in Cambridge, Ontario, so it can produce a hybrid version of the Lexus RX crossover. ... story