Nightly Business Report (PBS) - 2005-09-12

Name: Nightly Business Report (PBS) - 2005-09-12
Uploaded: 2026-01-07
Duration: 1553 s
Channel: malgent
Description: Read a transcript preview of “Nightly Business Report (PBS) - 2005-09-12” from malgent, uploaded on 2026-01-07.

Channel: malgent

Uploaded: 2026-01-07

Duration: PT1553S

Read a transcript preview of “Nightly Business Report (PBS) - 2005-09-12” from malgent, uploaded on 2026-01-07.

Transcript preview

Language: English (original, YouTube automatic captions)

[0:07] Good evening everyone. Ford is getting

[0:09] out of part of the car business, the

[0:11] rental car business. Late today, the

[0:13] automaker announced it was selling its

[0:15] Herz rental car division for $15

[0:17] billion, including debt. Ford will sell

[0:21] all shares of common stock of Herz to a

[0:23] private equity group that includes

[0:24] Clayton, Dubilier, and Rice and the

[0:27] Carile Group. The move gives Ford a big

[0:29] infusion of cash which could help the

[0:31] struggling automaker deal with falling

[0:33] sales and rising health care costs. The

[0:35] company says this strengthens its

[0:37] balance sheet with an emphasis on its

[0:39] core automotive business.

[0:41] >> Other deal making in the news today,

[0:43] three mergers with a combined value of

[0:45] almost $14 billion. The biggest of the

[0:48] bunch, Oracle is buying Seable Systems

[0:50] for about $5.9 billion. The deal

[0:53] bolsters Oracle's drive to become the

[0:55] world's largest maker of business

[0:57] application software. Oracle has been on

[0:59] a buying spree, taking over five smaller

[1:02] companies in the past 9 months. eBay is

[1:05] buying internet startup Skype for up to

[1:07] 4.1 billion in cash in stock. Skype

[1:10] leaves the booming voice over internet

[1:12] protocol market. eBay hopes offering

[1:15] free Skype web phone calls within its

[1:17] system will help better link its 150

[1:20] million buyers and sellers. And Wakovia

[1:23] Corporation is making an acquisition as

[1:24] well. It's buying financial services

[1:26] company West Corp and West Corp

[1:29] subsidiary WFS Financial for nearly $4

[1:32] billion in stock. The deal gives

[1:34] Wakovia, the nation's fourth largest

[1:36] bank, a stake in the high yielding auto