by Ken Zino | May 19, 2009
General Motors Corporation late today filed a prospectus supplement with the Securities and Exchange Commission about its exchange offers for $27 billion of its unsecured public notes and the related consent solicitations that began on April 27, 2009. In plain...
by Joseph Szczesny | May 19, 2009
In a letter to Senator Chris Dodd and Congressman Barney Frank consumer advocate Ralph Nader called on the Senate and House banking committees to hold “thorough” hearings to protect taxpayers’ investments and to seek answers to several questions...
by Ken Zino | May 19, 2009
For followers of the auto emissions and fuel economy wars that have been going on for five decades now, the announcement today by President Barack Obama that one “National Fuel Efficiency Policy” is decreed is a clear turning point in America’s...
by Paul A. Eisenstein | May 19, 2009
“It’s already running,” says Tony Posawatz, as we walk over to the small, white sedan parked in the corner of the General Motors Design Center’s garage. And, indeed, the gauges on the dashboard of the little Chevrolet Cruze advise me that all...
by Ken Zino | May 19, 2009
For the second straight year, Cadillac ranks highest among new car owners, taking the Highest Satisfaction Brand honors in the 13th Annual Vehicle Satisfaction Awards (VSA) from consulting firm AutoPacific. In addition to Cadillac’s overall award, the Cadillac...
by Paul A. Eisenstein | May 19, 2009
Old world meets new, and in more ways than one with Daimler AG announcing it has purchased a 10% stake in the Silicon Valley start-up, Tesla Motors. The two companies announced a more limited alliance, in January, when Tesla revealed it would assist the German luxury...
by Paul A. Eisenstein | May 18, 2009
A senior White House insider Monday evening provided a detailed preview of the “historic” new fuel economy standards President Barack Obama will formally announce on Tuesday. The Administration will require an industry-average 35.5 miles per gallon, by...
by Ken Zino | May 18, 2009
President Obama will announce tomorrow that he is requiring new national standards on auto greenhouse gas emissions and fuel economy that will drastically increase the mileage required for new vehicles sold in the U.S. The White House and the EPA declined to confirm...
by Joseph Szczesny | May 18, 2009
Chrysler is making a new early retirement offer to members of the United Auto Workers Union at six factories, including two Detroit area plants, which are now slated to be left behind when the “new” Chrysler emerges from bankruptcy. The offer comes on top...
by Ken Zino | May 18, 2009
With the 31 May deadline approaching for GM’s revised plan, the United Autoworkers Union on Friday sent a letter to members of the U.S. Congress objecting to the centerpiece of GM’s Viability plan – closing 16 plants in the U.S. and importing...
by Paul A. Eisenstein | May 18, 2009
Chrysler is getting charged up about electric vehicles. In a surprise move, last year, the ailing American automaker rolled out a trio of battery-powered vehicles that it announced would go into production during the coming decade. Vice Chairman Jim Press has since...
by Paul A. Eisenstein | May 18, 2009
Saying he “will not be pushed” into hastily hammering out a merger with the smaller Porsche, Volkswagen CEO Martin Winterkorn has postponed a meeting between the two companies scheduled for today. Porsche is downplaying the delay, insisting that other...
