Miami Herald (Free subscription) | 07/24/2008
AutoNation Inc. said Thursday its second-quarter profit tumbled 33 percent as continued economic woes and soaring gas prices continued to steer drivers away from new vehicle purchases.
Philadelphia Inquirer (Free subscription) | yesterday
DETROIT - Ford Motor Co. posted its worst quarterly loss ever yesterday in a roiling global auto market that also saw profits fall at Daimler AG, Hyundai Motor Co. and AutoNation Inc. Renault SA reported a profit increase in the first half of the year but still plans to cut jobs and scale back production.
Seattle Times (Free subscription) | yesterday
Ford Motor Co. posted its worst quarterly loss ever Thursday in a roiling global auto market that also saw profits fall at Daimler AG, Hyundai Motor Co. and AutoNation Inc. Renault SA reported a profit increase in the first half of the year but still plans to cut jobs and scale back production.
San Fransisco Chronicle (Free subscription) | 07/24/2008
Ford Motor Co. posted its worst quarterly loss ever Thursday in a roiling global auto market that also saw profits fall at Daimler AG, Hyundai Motor Co. and AutoNation Inc. Renault SA reported a profit increase in the first half of the year but still plans to...
Auto Channel (Free subscription) | 07/24/2008
Commenting on the second quarter, Mike Jackson, Chairman and Chief Executive Officer, said, "Despite the fact that this past quarter was the most challenging automotive sales environment any of us have encountered, AutoNation delivered solid profitability." Mr. Jackson also noted, "In the second quarter, the industry encountered $4.00 per gallon gasoline on top of the continued housing depression and...
Detroit News (Free subscription) | 07/24/2008
FORT LAUDERDALE, Fla. -- AutoNation says its second-quarter profit tumbled 33 percent as its sales fell on a drop in vehicle demand.
The South Florida Business Journal (Free subscription) | 07/24/2008
AutoNation posted a 33 percent decline in second quarter earnings Thursday, and said it would cut 1,300 jobs and sell some underperforming stores. (AN)
Seeking Alpha (Free subscription) | 07/24/2008
Andrew Horowitz submits: It is official! Bill Gates has to be the most charitable man alive. Now, he is providing a chunk of his assets to help out ailing Autonation (AN). Sure he takes a nice piece of the company and if you look at the history of this once darling/roll-up king, you will realize that this may be actually approaching a bottom. Whether it is a brilliant move or a plan for a tax write-off...
San Fransisco Chronicle (Free subscription) | 07/24/2008
AutoNation says its second-quarter profit tumbled 33 percent as its sales fell on a drop in vehicle demand. The nation's largest automotive retailer says it earned $51.8 million, or 29 cents per share, compared with $77.3 million, or 37 cents per share, for...
Jalopnik (Free subscription) | 07/23/2008
Bill Gates has acquired a 5.5% stake in AutoNation , a nationwide chain of car dealerships. The move saw the company's shares increase in value by $1 a share since the purchase was made on Monday, taking the value of Gates's holdings to $90.1 million; in fact, he's now the third largest shareholder. But what does Gates see in the firm? Jalopnik Snap Judgment: Bill Gates has tons of money (literally,...
The Business First of Buffalo (Free subscription) | 07/23/2008
Microsoft Corp. Chairman Bill Gates has taken a 5.5 percent interest in dealership chain AutoNation Inc., news reports said.
Auto Channel (Free subscription) | 07/23/2008
The stake makes Gates AutoNation's third-largest shareholder, according to Bloomberg. As of mid-afternoon yesterday , AutoNation stock shares were trading at $9.10 on the New York Stock Exchange, which makes Gates' 9.9 million-share stake worth more than $90.1 million. AutoNation's shares have climbed by almost $1 a share since Gates' share was disclosed just after 4 p.m. Monday.
GuruFocus Updates (Free subscription) | 07/22/2008
The shares of various companies, especially in the financial sector, have declined in response to weak performance in the second quarter. You can buy Guru stocks at lower prices these days. Companies of the Week: Whole Foods Market Inc. (WFMI), CBS Corp. (CBS), AutoNation Inc. (AN), Bank of America Corp. (BAC), Allied Irish Banks P.L.C. (AIB).
Brier Dudley's blog (Free subscription) | 07/22/2008
Now that he's semi-retired from Microsoft, Bill Gates is getting into the car business. Gates bought a big stake in AutoNation , a national chain of dealers selling new and used cars, with a substantial Web presence. His investment outfit, Cascade Investment, today reported that it has acquired 9.9 million shares, or 5.5 percent of the company. It's still pocket change for him -- about $83 million,...
The South Florida Business Journal (Free subscription) | 07/18/2008
A former Alamo Rent-A-Car employee has sued AutoNation over a broken employment contract and won a $1.09 million award. (AN)
