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May 17, 2009 - May 23, 2009 Archives
Gasoline prices swing higher before holiday
NEW YORK -- Retail gasoline prices continued to climb Friday ahead of the Memorial Day weekend and the unofficial start of America's summer driving season, according to The Associated Press. The national average pump price increased nearly 3 cents overnight...
May 22, 2009 3:21 pm
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Gasoline prices swing higher before holiday
NEW YORK -- Retail gasoline prices continued to climb Friday ahead of the Memorial Day weekend and the unofficial start of America's summer driving season, according to The Associated Press. The national average pump price increased nearly 3 cents overnight...
May 22, 2009 3:21 pm
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Backseat Driver: Dopey defeatism should not nix new fuel standards
There is a simple reason why the American auto industry is in trouble: it failed to keep up with the times. Yes, I know it was saddled with legacy costs in the form of pension and healthcare obligations - a...
May 21, 2009 11:57 am
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UAW says it has reached deal with GM, government
DETROIT -- The United Auto Workers union has reached a tentative deal with the government and General Motors Corp. that would cut labor costs and change the way a union-run trust for retiree health care is funded, according to The...
May 21, 2009 10:19 am
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Backseat Driver: Kidder to succeed Nardelli as head of Chrysler
Chrysler has named C. Robert Kidder, former chairman of Borden Chemical and of Duracell International, to succeed Robert Nardelli as chairman of the board once the automaker comes out of bankruptcy and completes its alliance with Fiat. "We are most...
May 21, 2009 10:19 am
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Chrysler bankruptcy puts lemons in limbo
DETROIT -- Consumers who filed lemon-law claims against Chrysler recently are facing a troubling reality: Many settlement checks are bouncing, and consumers have no idea when they'll be repaid, according to USA Today. Chrysler says it's working to reissue the...
May 20, 2009 10:07 am
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At Least 3 Bids Likely for G.M.'s European Business
FRANKFURT -- General Motors expects at least three bids for its European business by the close of business Wednesday, a spokesman for G.M. Europe said, according to The New York Times. G.M. anticipates that the bids for Opel and Vauxhall...
May 20, 2009 10:07 am
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GM bankruptcy plan includes government debt relief: source
General Motors' bankruptcy plan includes the sale of healthy assets to a new company, owned by U.S. government, a source said on Tuesday, according to Reuters. * Bankruptcy plan includes proposal for labor, old unsecured creditors to get stock in...
May 19, 2009 2:06 pm
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Obama wants increased fuel efficiency, less smog
WASHINGTON -- President Barack Obama outlined Tuesday the nation's first comprehensive effort to curb vehicle emissions while cutting dependence on imported oil, calling the plan an historic turning point toward a "clean-energy economy," according to The Associated Press. Joined in...
May 19, 2009 2:06 pm
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Oil rises to near $60 on signs recession easing
Oil rose to near $60 a barrel Tuesday as investors took heart from global stock market gains and more signs the U.S. recession is easing, according to The Associated Press. Continued unrest in Nigeria's oil-rich south also supported prices. Benchmark...
May 19, 2009 8:55 am
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Automakers, Obama announce mileage, pollution plan
WASHINGTON -- President Barack Obama wants drivers to go farther on a gallon of gas and cause less damage to the environment - and be willing to pick up the tab, according to The Associated Press. Obama on Tuesday planned...
May 19, 2009 8:49 am
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Backseat Driver: Surviving GM's termination notices
Nine out of the ten General Motors dealerships in Rhode Island report that they will be continuing as GM dealers after it goes through its restructuring. They all said they had not received the dreaded letters of termination sent out...
May 18, 2009 2:36 pm
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New York Times editorial: So Far So Good
Here is today's lead editorial in The New York Times: Less than three weeks after Chrysler filed for bankruptcy protection, it looks as if the Obama administration will pull off its goal of completing the carmaker's restructuring by June, allowing...
May 18, 2009 2:36 pm
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Chrysler expands buyout, early retirement packages
DETROIT -- Chrysler has expanded early retirement and buyout offers for workers at six of the eight factories that it plans to close as part of its bankruptcy restructuring, according to The New York Times. In some cases the offers...
May 18, 2009 2:36 pm
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U.S. to Issue Tougher Fuel Standards for Automobiles
WASHINGTON --The Obama administration will issue new national requirements for the emissions and mileage of cars and light trucks in an effort to end a long-running conflict among the states, the federal government and auto manufacturers, industry officials said Monday,...
May 18, 2009 2:36 pm
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Dumped GM, Chrysler dealers endure grieving process
Joe Reising, vice president of R.L. Reising Sales, right, on Saturday talks with salesman Bill Dralle, 70, who's worked at the Beecher, Ill., Chevrolet dealership 48 years. Reising's grandfather, Roy, founded the dealership in 1929. DETROIT -- Nearly 2,000...
May 18, 2009 10:37 am
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Ferrari Sells for a Record $12.4 Million
Gael O'Brien This 1957 Ferrari 250 Testa Rossa was the top seller at an auction of vintage Ferraris on Sunday. MARANELLO, Italy -- A black 1957 Ferrari 250 Testa Rossa sold here Sunday for $12,402,500, setting a new record...
May 18, 2009 10:29 am
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GM shows signs that bankruptcy filing is coming
DETROIT -- The letters General Motors sent to 1,100 of its dealers telling them to close represent another strong sign the automaker will end up in Chapter 11 in two weeks, because GM has little clout to close dealerships unless...
May 18, 2009 10:29 am
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GM, UAW in dispute over imports and plant closures
DETROIT -- General Motors and the United Auto Workers are fighting over plans to close 16 U.S. factories and import vehicles from other countries as a June 1 deadline for a concession deal draws near, according to The Associated Press....
May 18, 2009 9:57 am
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