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REUTERS/Bianca Flowers Acquire Licensing RightsSept 22 (Reuters) - Jeffrey Aznavorian has already cut output about 6% at his small auto parts factory outside Detroit due to the United Auto Workers strike. If the strike expands, it would only be a matter of weeks before some smaller suppliers faltered, said Marick Masters, a professor of business at Wayne State University. He estimates 30% of smaller suppliers carry too much debt to survive a long strike. Other measures also point to a supply base that was strained even before the strike. RapidRatings calculates "core health scores" for privately owned auto parts companies - based on a 100-point scale - which looks at their returns, cost structures, and capital structure.
Persons: Bianca Flowers, Jeffrey Aznavorian, Pittsburgh steelmaker, Laurie Harbour, Marick, James Gellert, Gellert, Timothy Aeppel, Andrea Ricci Organizations: Ford UAW, Detroit, REUTERS, United Auto Workers, Ford, General Motors, Chrysler, GM, Anderson Economic, Auto, CIE, Spain’s CIE Automotive, . Steel, Pittsburgh, Reuters, Harbour, Inc, Wayne State University, Thomson Locations: Chicago , Illinois, U.S, Detroit, Michigan, Midwest, Illinois, Southfield , Michigan, Plymouth , Michigan
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPrivate auto suppliers see secondary consequences of UAW strike, says RapidRatings CEO GellertRapidRatings CEO James Gellert joins 'The Exchange' to discuss risks the UAW strike poses to the auto supply chain, the shift in auto production spawned by EV, and the impact the rising cost of cars has on gross auto sales.
Persons: Gellert, James Gellert Organizations: UAW, EV
Watch CNBC's full interview with RapidRatings CEO James Gellert
  + stars: | 2023-07-10 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with RapidRatings CEO James GellertRapid Ratings CEO James Gellert joins 'The Exchange' to discuss refinance troubles for upcoming debt maturities, industry and business size impacting borrowing dynamics, and small companies feeling the strain from contraction in customer budgets.
Persons: James Gellert
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRapid Ratings CEO: We will see a significant increase in defaults in mid-size private companiesRapid Ratings CEO James Gellert joins 'The Exchange' to discuss refinance troubles for upcoming debt maturities, industry and business size impacting borrowing dynamics, and small companies feeling the strain from contraction in customer budgets.
Persons: James Gellert Organizations: Rapid
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTesla has more ability to experiment than other automakers, says Rapid Ratings CEOJames Gellert, Rapid Ratings CEO, joins 'Power Lunch' to discuss Tesla's price cuts and the state of the auto industry.
Sept 29 (Reuters) - Initial public offerings by U.S. tech companies have sunk to their lowest levels since the global financial crisis of 2008, as stock market volatility, soaring inflation, and interest rate hikes have soured investor sentiment towards new listings. Register now for FREE unlimited access to Reuters.com RegisterUS tech IPOs total proceeds in first three quartersAnalysts interviewed by Reuters said a steep drop in stock market valuations has deterred tech firms from pursuing stock market launches. "This is a terrible backdrop for IPOs, in particular tech IPOs, which rely on bull markets and momentum investors to bolster their market entries." The Renaissance IPO index, which captures the largest and most liquid U.S IPOs, has slumped 50.4% this year, compared with the S&P 500 index's drop of 23%. YTD performance of the Renaissance IPO index and S&P 500 indexShares of Corebridge Financial Inc (CRBG.N), which launched the largest IPO in the U.S. this year, were trading about 4% below its offer price of $21 on Wednesday.
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