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30 Mar 2009 00:30

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Biz, U.S.: The bailed-out auto companies are pretty much screwed

  • 60 days for General Motors to restructure in a way that doesn’t suck; if it doesn’t, the bailout funds go dry. source
Posted by Ernie Smith • 0 Comments • Permalink

29 Mar 2009 20:29

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Biz, U.S.: GM’s head guy, Rick Wagoner, is apparently gonna step down.

  • Why now? GM wants help General Motors’ top man is leaving now in part because the White House made strong hints that they wanted new leadership if the automaker wanted more bailout money. Wagoner has been with the company for over three decades and has been CEO for almost a decade. There’s no word yet as to who the new CEO’s going to be, but we’ll probably learn more later this week. source
  • Why now? GM wants help General Motors’ top man is leaving now in part because the White House made strong hints that they wanted new leadership if the automaker wanted more bailout money. Wagoner has been with the company for over three decades and has been CEO for almost a decade. There’s no word yet as to who the new CEO’s going to be, but we’ll probably learn more later this week.
  • A cruddy legacy Wagoner has led GM through some of the more questionable periods of the company’s history – between the fumbled response to Japanese carmakers, the legacy payments to union employees, the over-leaning on SUV’s to save the company’s fortunes and the utter lack of creativity in the company’s vehicles, it’s kind of tough to say what was the one thing that made GM fall so far. source
Posted by Ernie Smith • 0 Comments • Permalink

26 Mar 2009 19:10

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U.S.: California’s cars could be blacked out … of black paint jobs

  • It’d be a pretty good joke if it wasn’t true. The California Air Resources Board thinks that dark-colored cars have to work harder to stay cool, which means higher emissions. They’re looking to set a standard for 20% solar reflectivity by 2016, which black cars can’t pull off. So, if you’re in California, you may not be able to car that’s the same color as your soul in a few years. Sorry about that. source
Posted by Ernie Smith • 0 Comments • Permalink

23 Mar 2009 10:31

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Tech: The Tata Nano: It’s like the cheapo car version of the iPod Nano

At £1,300, it costs as much as a Vespa, but this uber-cheap, kinda-ugly Indian car may be perfect for city drivers. source
Posted by Ernie Smith • 0 Comments • Permalink

26 Feb 2009 10:08

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Biz: How is it possible to lose this much money, GM?

  • $9.6 billion loss in the 4Q alone; WTF guys? That isn’t cool. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Feb 2009 10:11

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Biz: But what does this mean for Hummer stretch limos?

Hummer is one of three GM brands on the chopping block. Wanna buy it? It’s going cheap. source
Posted by Ernie Smith • 0 Comments • Permalink

16 Feb 2009 10:20

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U.S.: One “car czar” isn’t enough. Obama needs a task force.

  • The auto industry is “necessary,” says an Obama advisor. After initially saying he was going to put one guy in charge of the auto industry’s restructuring, Barack Obama thanks a staff is necessary, an official says. The task force would be overseen by Treasury Secretary Timothy Geithner and White House economic adviser Lawrence Summers. Tomorrow is GM and Chrysler’s deadline for submitting their company’s plans to restructure. source
Posted by Ernie Smith • 0 Comments • Permalink
 

15 Feb 2009 13:01

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Biz, U.S.: Automaker GM considers the nuclear option

  • General Motors could fold into a new company. The plan, which the Wall Street Journal reported about yesterday, would have the automaker file for Chapter 11 bankruptcy and reform as a new company. They’re under a lot of pressure to act right now – they got a massive bailout from the government and, along with Chrysler, have until Tuesday to show the government how they plan to restructure. source
Posted by Ernie Smith • 0 Comments • Permalink

15 Feb 2009 12:55

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Biz, U.S.: My, isn’t this auto industry quote dramatic

  • If we don’t beat the second half of 2008 this year, then it could be all over. We’re all going to be peeling bark off trees and go back to being an agrarian society.
  • Erich Merkle • An independent auto analyst, on the auto industry’s need to beat its dismal 2008 in 2009. Personally, we like farming. Give us a good mule and a way to cut through the soil, and we’re set for life! • source
Posted by Ernie Smith • 0 Comments • Permalink

09 Feb 2009 11:04

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Biz: U.S. automakers aren’t alone: Nissan announces massive layoffs

  • 20,000 jobs will go away into the ether source
Posted by Ernie Smith • 0 Comments • Permalink
 
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