Keyword: gm
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Even if rutabagas aren't widely grown in the U.S. for people to eat, rutabagas for biofuel could edge out other food crops. "If you were to dedicate hundreds of thousands of acres to produce rutabaga for the biofuel sector, in all likelihood farmers would be changing what crops are currently being cultivated on those lands," Faber said. That could make it a "game changer" in the biofuel industry, he said.
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*SNIP* But, here's the catch: GM won't be able to sell the $4,000 car in the United States. Because in the United States, new cars must be "government approved" before they can be approved by consumers. And to be approved by government, a new car must be fitted with a horn o' plenty of government-mandated safety and emissions control equipment. "Safety" and "low emissions" may be laudable, but they aren't free. The federal requirement that each new car be equipped with multiple air bags is alone worth an estimated $1,000-$1,500 per car -- or one-third to nearly one-half the projected...
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The New GM is just clever marketing. Advertising Age says this about the so-called new GM: General Motors Co. doesn’t appear to be learning from its mistakes. This is exactly what J.D. Power analyst Gary Dilts warns about in this video. Watch: http://www.cardealerreviews.org/?p=116479
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General Motors is targeting the emerging ultra-low-cost car market with plans for a compact for around $4,000, possibly producing it in Asia. "When Tata Motors in India came out with their $2,500 Nano vehicle, it put a lot of automakers on the spot," said Nick Reilly, GM's new executive vice president of international operations. Tata Motors started shipping the much-promoted Nano to domestic customers in July, with a base price of just under $3,000, and executives have talked of selling versions of the car in other emerging markets and in the U.S. and Europe. "We are not going to make...
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[Early last] week, Government Motors dropped a public relations bomb when new chief Fritz Henderson announced that the forthcoming Chevy Volt would get an astonishing 230 miles per gallon (that's 98 kilometers per liter, for our metric-system friends)...
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Now that Barack Obama has gotten GM Chairman Rick Wagoner out of the way, he is confident that GM is on the way to unimaginable success. The government has given GM and Chrysler $65.1 billion in bailout money, which is only appropriate. I mean, “millions” is so 90’s… To promote the sales of GM vehicles, Obama says it will be the government that will now stand by your GM car warranty. And the taxpayers all get a lube job. Your future GM owner’s manual will come with a disclaimer: “Close enough for government work.” I don’t know why everyone is...
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Conservation: The Chevy Volt is said to be able to get 230 miles per gallon. That's if it's continually plugged into a fragile and overburdened power grid. Where will you be when the lights go out? Since most U.S. electricity generation is not carbon-free, the Congressional Research Service agrees. The "widespread adoption of plug-in hybrid vehicles through 2030 may have only a small effect on, and might actually increase, carbon emissions," it observes. "If you are using coal-fired power plants and half the country's electricity comes from coal powered plants, are you just trading one greenhouse gas emitter for another?"...
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Although a batch of documents recently released by the Bush Energy Department was supposed to embarrass Republicans, it also revealed an interesting nugget about a powerful Democrat, Debbie Dingell, wife of Rep. John Dingell (Mich.). Mrs. Dingell, who gave HOHholy hell a few years ago for referring to her in print as a "lobbyist" for General Motors, has always insisted that she merely runs the foundation that takes care of the auto giant's philanthropic activities. These days, Dingell says, she's in charge of "worldwide community relations" for the company. So you can imagine HOH's surprise upon noticing that Dingell turned...
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If you've ever been to an auto show, you're likely to see some very cool concept cars. For instance, back in 1986, I saw a car with a map that could give directions in it. It was quite a concept back in the 1980's. At this past year's auto show, Saturn had a concept car that was a hybrid that runs on battery and natural gas. This car was still year's away from being on the market. The thing about concept cars is that the technology is always fascinating. Can you imagine how innovative it was in the mid 1980's...
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General Motors Co. predicted Tuesday that its Chevrolet Volt rechargeable electric car will get 230 miles per gallon of gas in city driving. If confirmed by the U.S. Environmental Protection Agency, which tests for mileage figures posted on new car stickers, the Volt would be the first car to exceed triple-digit gas mileage, a GM official said. Toyota’s Prius, the most efficient car now sold in the U.S., gets 48 miles per gallon. The Volt is powered by an electric motor and battery pack with a 40-mile range. After that, a small internal combustion engine kicks in to generate electricity...
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General Motors Co. plans to invest $1.2 billion in Mexico this year to 2011, the nation’s Economy Ministry said today in an e-mailed statement.
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WASHINGTON (AP) - General Motors has quit working with a partnership that collects toxic parts from scrapped automobiles, jeopardizing an effort to prevent mercury pollution just as hundreds of thousands of clunkers are headed to recyclers. Participants in the environmental program told The Associated Press the timing of GM's departure could hurt their work. The government's "cash-for-clunkers" program will lead to trade-in and recycling of an estimated 750,000 vehicles, some of which contain mercury switches.
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(H/T: Instapundit) I am honestly surprised to find that there are people surprised by this. Among those clamoring for attention and payouts from Motors Liquidation Co., the company that assumed General Motors’ unwanted assets after its Chapter 11 filing, are the environmental and economic redevelopment departments of state governments. According to reports, when GM exited bankruptcy, its polluted factory and land sites were consumed by the Motor Liquidation, allowing the automaker to avoid the responsibility of cleaning up its mess, and state leaders fear there won’t be any money to clean the locations. After all, this was the original point...
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Perhaps you've seen the mysterious (and maddening) advertising blitz popping up on cable TV, elevator-TV screens and the internet this week. It features a smiling and winking electrical outlet that end up being the zero in the number 230, which itself appears above the numbers "8-11." Some virtual detective work by Advertising Age -- and rounds of phone calls -- reveal the marketer behind the effort is General Motors Co. But neither the company nor its agencies would say exactly what the campaign is for. "I'm glad it's getting out there," but no one wants to talk about it until...
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Recordpub.com Marhofer closing in Stow is a "shock' Owner: Dealership having "exceptional' year in vehicle sales By Mike Lesko Stow Sentry Associate Editor STOW — Ron Marhofer could not believe his eyes. “I read it two or three times. I was shocked and surprised,” he said Wednesday, after being informed in a letter by General Motors that Marhofer Chevrolet in Stow would lose its Chevrolet franchise next year. Marhofer said the letter is confidential, but it said GM would not renew his franchise agreement as of October 2010. The company has been in business in Stow since 1933 and is...
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The President announced today $2.4 billion in stimulus spending on advanced battery technology spread across 48 different projects. The money will go to a variety of battery makers, tech companies, automakers and Universities. General Motors appears to be the biggest winner, essentially receiving $392.8 million to advance development of its hybrid plug-in, the Volt. Of that sum, $151.4 million goes to Compact Power, a subsidiary of LG Chem, who is producing batteries for the Volt. The rest goes directly to General Motors. The other U.S. automakers received considerably less money. Ford gets $40 million, and Chrysler is getting $70 million....
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DETROIT (Reuters) - More than 6,000 U.S. hourly workers have left General Motors Co under the automaker's latest buyout program intended to make it a leaner company. GM, which emerged from bankruptcy last month by selling most of its assets to a group funded by the U.S. Treasury, said the latest round of buyouts has taken the total number of its U.S. factory workers to 48,000. Since 2006, about 66,000 U.S. hourly workers have left GM through buyouts and retirement packages as the automaker scrambled to restructure in the face of slowing sales and mounting losses. "One of the very...
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WASHINGTON (July 31) — The government's popular "cash for clunkers" program may be running out of money after only a matter of days as car shoppers flock to dealerships to take advantage of the rebates.
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As everyone else’s taxes rise, one favored outfit may not have to pay federal taxes for years: General Motors. In another sweet deal from its benefactors on Pennsylvania Avenue, the government-owned car company is set to profit from billions of dollars in tax breaks not available to other businesses in the same predicament.
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Mainland passenger car sales are speeding up and look set to break new records under Beijing's "cars down to the village" policy, with General Motors Corp's operations in the country already posting monthly growth of more than 70 per cent. Troubled GM, which relies on China for growth, said July sales would be about 140,000 vehicles, thanks to robust sales of the minivan made by the SAIC-GM-Wuling joint venture in Guangxi. The final figure will be announced next week. GM China sold a record 841,442 cars in the first half, 38 per cent more than the year-earlier period. Volkswagen China...
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General Motors is spending more money where it counts: Latin America. The Latin American market has been generous to the struggling automaker despite struggles at home. Today, GM announced a $1 billion plan to expand its vehicle lineup in Brazil. "We believe the Brazilian market will be very strong, will continue to grow at a rate of at least 5 percent a year and we also believe in the prospects for exports of the new models," Jaime Ardila, GM's chief executive for Brazil and the Mercosur region of South America, said in a statement. Ardila added that GM showed record...
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Welcome to the General Motors bailout, part three—or is it four, or five? It’s hard to keep up, but this week the federal Pension Benefit Guaranty Corporation took over the pension liabilities of Delphi, the auto-parts spinoff of GM that has been working its way through Chapter 11 since 2005. As with the previous taxpayer rescues, this one includes a special favor for the United Auto Workers. Under the agreement, the PBGC will assume some $6.2 billion in pension liabilities from Delphi, including both hourly and salaried employees. That’s the second biggest pension bailout in PBGC history, and it takes...
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Delphi’s plan for the United Automobile Workers offer[ed] a supplement to workers who retire before they are old enough to collect Social Security. So laying off workers in their 50s and early 60s imposes sudden additional costs on the pension fund. Spotting these trends, the federal pension guarantor began putting liens on Delphi’s offshore affiliates, which are not in bankruptcy. As recently as last September, the insurer was warning that it would fight in court to make the healthy parts of Delphi’s corporate family cover the pension costs. It was also counting on a promise made 10 years ago by...
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It's late, so I'll spare you the intro paragraph and just get to the daily digg list :) http://diggsandburies.blogspot.com/
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It's not the smell of the interior of a new luxury model, the whiff of gasoline or even the aroma of burning rubber. It's much more. It's the luminous fresh scent from grapefruit and camomile and a mix of geranium, tarragon and cinnamon – plus sweet spice and incense. Think of "Cadillac, the new fragrance for men." Sputtering General Motors Co., just out of a quick drive through bankruptcy court, will soon be using its iconic Cadillac brand to sell a line of fragrance for men. Beauty Contact Inc., a Dubai-based cosmetic company and holder of the fragrance licence,...
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DETROIT (Reuters) - General Motors posted Wednesday a 22 percent global sales drop from a year earlier for the first six months of 2009 amid the economic slowdown and the automaker's slide into bankruptcy. GM said its global first-half sales, which include brands the automaker is trimming from its lineup, fell 21.8 percent to 3.55 million vehicles. The automaker's sales in the second quarter fell 15.4 percent to 1.94 million vehicles. The automaker said second-quarter sales reflected continuing economic pressures and production cuts in the United States. It estimated a 12 percent second-quarter global market share, down 0.3 percentage point...
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WASHINGTON (AP) -- The head of the White House's auto task force is warning Congress against a House-approved plan to restore General Motors and Chrysler dealerships being closed by the car companies' bankruptcies.
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General Motors reduced its lobbying spending in the second quarter by only 1.4% compared to the first quarter, even though the second quarter saw the company go bankrupt, be taken over by the government, and announce it was cancelling its outside lobbying contracts. In April, May, and June, GM spent $2,760,000 on lobbying according to its Q2 lobbying filing, compared to $2,800,000 in the first quarter.
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It seems Obama's star power is fading rapidly. The Treasury Appropriations bill was passed 219-209 yesterday in the House. The roll call shows that the 219 is 215 dems and 4 pubs. Tucked away in the bill is a provision that is a bit of extortion: No money can be used to obtain a financial ownership in any car manufacturer if that manufacturer deprives a car dealer of its economic right under its dealer agreement.
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WASHINGTON (AP) -- A House committee asked the Obama administration Friday to release documents on the federal bailouts of General Motors Co. and Chrysler Group LLC, seeking more details on decisions that led to the auto industry bankruptcies. "They negotiated, they reviewed and they approved every aspect of the Chrysler and General Motors reorganization," Rep. Spencer Bachus, R-Ala., said of the White House. "We don't know how the president's auto task force reached its conclusion." The resolution, proposed by House Republican Leader John Boehner, R-Ohio, underscored lingering resentment in Congress over the government's work to push GM and Chrysler into...
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WASHINGTON - A spending bill passed by the U.S. House would force General Motors and Chrysler to restore franchise agreements with approximately 3,000 dealerships. Dealers across the country were cut loose as part of restructuring plans approved by bankruptcy courts. Meanwhile, the House Financial Services committee is seeking documents from the Obama administration on the "bailouts of General Motors and Chrysler.” Lawmakers have questions about how the President's auto task force reached its decisions to send the auto companies into bankruptcy.
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General Motors announced plans to invest $1 billion to develop two new car models in Brazil. The president of GM's operations in Brazil and the Mercosur countries said it is GM's biggest investment since the onset of the global financial crisis. Jaime Ardila says about 50 percent of the money will come directly from GM Brazil while the rest will be borrowed. One new small car and one medium-sized car will be developed at the Gravatai plant in southern Brazil and are expected to be in production by 2012. Ardila says Wednesday GM Brazil has avoided the problems of its...
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In early July, the General Motors National Dealer Council sent a letter to their remaining dealers, urging them to sign onto the letter which opposes H.R. 2743: The Automobile Dealer Economic Rights Restoration Act of 2009. I am a cosponsor of this legislation, along with 241 other members of Congress who are pursuing this bill so that the closed GM dealers can have their economic rights restored. Essentially, the dealers that have been spared are being urged to shut down the dealers slated for closure once and for all.
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General Motors Co.'s top executive described July auto sales as weak compared with the same month last year, but said it's still early.
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One of the longest--and greenest--red carpets ever created in the United States will stretch across 18 blocks of Manhattan as a lead-up to the 2008 Major League Baseball (MLB) All-Star Game with its All-Star Game Red Carpet Parade presented by Chevy on July 15th at 1:00 PM ET. Covering 95,000 square feet along Sixth Avenue, the eco-friendly carpet will be graced by baseball legends like Hank Aaron, Yogi Berra, and Willie Mays as they parade through New York City along with the American League and National League All-Stars.
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Sara was late for work. The alarm clock didn't alarm, the kids were unusually slow getting ready for school, and nothing went right. She finally got to her car -- a brand new 2020 Chevy Adventure. She touched the finger-print secured start button. Nothing. It wouldn't start. She touched it again. Nothing. Furious, she banged the steering wheel with her fist. Then she noticed the paper hanging from the receipt printer on the dash. "Your designated visa account rejected your Road Use Tax in the amount of $87.32 for the month of June, 2020. You must insert a valid account...
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SYNOPSIS: Transcript of 13 July 2009 Bob Lutz interview with The Takeaway, host John Hockenberry and guest host Farai Chideya. John Hockenberry: It’s great to talk to you again. We’ve talked over many years and this is certainly a very different moment. Although I have to say, General Motors has typically announced some pretty ambitious plans, even emerging from bankruptcy: 10 new products emerging in the U.S. market; 43, or something like that, nameplates. First of all, wouldn’t it be better to focus on one or two successes like the Camero, you sold 10,000 units of that car as recently...
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As part of the GM (Government Motors) bankruptcy fallout, Democrats and Obama admin are now on a collision course between conflicting ideals. One would be their devotion to unions, combined with their love of regulation for US industries, driving many to the point of non-competitive status. The second is their now, first hand reality check that "outsourcing" and the ensuing US job loss may be an ugly necessity for business survival. Unlike community organizing, there's nothing like owning a car manufacturer that drives home basic business common sense, eh? One of the darlings of the Dems, Montana Governor Brian Schweitzer,...
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HELENA - Tax-dollar-dependent General Motors is trying to cancel its contract with the nation's only platinum and palladium mine, the Stillwater Mine in Montana's Beartooth Mountains, even as it evidently retains contracts with foreign mines.
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GM considers new car listings on eBayPublished: July 10, 2009 at 11:45 PM DETROIT, July 10 (UPI) -- General Motors Corp. is discussing a possible partnership with eBay that would allow dealers to list new cars on the auction Web site, officials said. Rob Chesney, vice president of eBay Motors and Marketplaces, told The New York Times no deal is in place. In its initial statement Friday, GM suggested the program was ready for testing by dealers. "We hope to support GM's new company and vision going forward," Chesney said. "We are excited about a potential new adventure that supports...
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Isn't it amazing how fast the government can move when they are motivated by a historic confiscation of private sector power and wealth? As of this morning, American taxpayers are now the majority shareholder in the newly created Government Motors, which will build the Chevrolet, Cadillac, GMC and Buick brands looking forward. American taxpayers paid over $50 billion for 60.8% of GM. That money was used to save 66,000 American jobs. That comes to $757,575.76 per job saved. A little pricy if you ask me, but we are talking about union jobs here. By comparison, less than 1% of the...
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This was inevitable. When the Obama administration effectively took over General Motors, Obama-friendly media hacks were going to tout the company's products . . . And so it was that on his MSNBC show this evening, Ed Schultz offered up an unpaid infomercial for GM's new Camaro. Most grotesque was Schultz's boast that the Camaro was outselling the Ford Mustang. Take that, private-sector company that declined to take Obama's dime! View video here.
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<p>DETROIT -- General Motors Corp. appeared headed toward a record-short escape from bankruptcy protection Thursday despite a last-minute appeal that a legal expert said was unlikely to stand in the way.</p>
<p>A bankruptcy judge's order approving the sale of most of GM's assets to a new company was to go into effect at noon. An appeal was filed just before the deadline by plaintiffs in an Arizona product liability lawsuit against the automaker. It was unclear if the appeal delayed the sale approval.</p>
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— General Motors could literally turn green as it readies itself for major management and cultural changes that will coincide with its escape from bankruptcy protection. People briefed on its plans say the company is looking into changing the background color of its corporate logo from blue to green in an effort to show consumers that it is leaner and greener...
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Almost every bankruptcy expert The Am Law Daily talks to agrees that the super-fast General Motors and Chrysler bankruptcies diverted from traditional bankruptcy law because of the government's huge role in each case and the danger liquidation might have posed to the broader economy. What they don't agree on is whether the cases set a meaningful precedent for future judges. "What happened in GM and Chrysler is so outrageous and so illegal that until March of this year, nobody even conceptualized it," says Lynn LoPucki, a bankruptcy expert at UCLA Law School. "Wouldn't almost every company like to get out...
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There is a groundswell of disdain for the federal bailouts of General Motors and Chrysler, even as polls show that a growing "Buy American" sentiment is boosting sales for the only Detroit automaker that avoided bankruptcy and federal rescue - Ford. GM and Chrysler say some buyers are coming back to support them, even trading in their Mercedes for Chevrolets. But it is bailout opponents who are the most visible - and audible. Conservatives thunder that the country has taken a socialist route with President Obama at the wheel. "I won't buy a socialist car," columnist and radio talk-show host...
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A federal judge approved the sale of General Motors Corp.'s assets to a new government-run company, removing a key hurdle to the auto maker's plan to exit bankruptcy. Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York issued an 87-page ruling late Sunday allowing the sale to go forward. He rejected pleas from dissident bondholders and product-liability claimants who objected to GM's plans. The judge said the only alternative to GM's plans would be liquidation, "a disastrous result for GM's creditors, its employees, the suppliers who depend on GM for their own existence,...
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When it was deciding where to build its new compact car, General Motors Corp. made a point of saying it would push politics aside and use strictly commercial criteria. So Tennessee's three top officials were astonished last month, in a meeting with GM, when they were told the first two criteria were "community impact" and "carbon footprint" -- or how the choice would affect unemployment rates and carbon-dioxide emissions. "Those didn't strike us as business criteria at all," said Tennessee Sen. Lamar Alexander, who was joined in the meeting by fellow Republican Sen. Bob Corker and the state's Democratic governor,...
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1. GM Partners With Segway It became clear this spring that General Motors was going to have to get smaller to survive, but this was ridiculous. A week after President Obama gave the company a 60 day deadline to avoid bankruptcy, GM took time out from its turnaround efforts to unveil the PUMA, a two-seat vehicle being developed with Segway that looked more like a rickshaw than a car. The vehicle, capable of going only 35 mph and traveling 35 miles between charges, got lots of attention, but did little to change popular opinion about the company that had...
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<p>DETROIT (AP) — Ford Motor Co. on Wednesday called its 10.7 percent drop in U.S. June sales "steady progress," after a year of sharp declines across the industry.</p>
<p>The monthly decline was Ford's smallest since July of last year, a sign that U.S. auto sales may be recovering from the worst slump in 27 years.</p>
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