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June 7, 2009 - June 13, 2009 Archives
GM sale of Saab looms as Koenigsegg steps up
STOCKHOLM - General Motors is close to selling loss-making Swedish unit Saab after tiny supercar maker Koenigsegg agreed to ride to the rescue, a source familiar with the talks told Reuters. A deal would put a company of less than...
June 12, 2009 9:33 am
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Reuters: Koenigsegg, Norwegian investors to buy Saab
STOCKHOLM - Swedish luxury carmaker Koenigsegg and Norwegian investors have signed a preliminary deal to buy General Motors' unit Saab, a source familiar with the matter said on Thursday, according to Reuters. The source confirmed an earlier report by Swedish...
June 11, 2009 11:53 am
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Backseat Driver: And now for the good news
With Chrysler coming out of bankruptcy as a subsidiary of Fiat and General Motors forging ahead with its restructuring plans, it's time to look at the companies' positives.] For Chrysler, its Jeep brand will continue to dominate the sporty, genuine...
June 11, 2009 11:53 am
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Backseat Driver: Honda pushing ahead with hybrids
While Honda admits the U.S. car and truck market is unpredictable because it is so dependent on changing fuel prices - fuel is heavily taxed in Europe and Asia so changing crude prices have less of an effect on prices...
June 11, 2009 9:10 am
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Backseat Driver: Old habits die hard
Corporate politics, while an inevitable aspect of any organization can be a particular problem in older ones where ossified mindsets hamper innovation and old allegiances protect incompetent employees. I have written many times about such problems at General Motors. As...
June 11, 2009 9:10 am
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U.S. Takes On the Insular G.M. Culture
DETROIT -- Fiat will set a new direction at Chrysler, which finished its tour through bankruptcy court Wednesday, completing its deal to join forces with the Italian automaker. At Ford, a chief executive brought in from the aircraft industry is...
June 11, 2009 9:10 am
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Problems of old Chrysler linger at 'new' Chrysler
DETROIT -- Chrysler may have been granted a fresh start, but it still faces old problems: how to sell enough cars and realign its fleet away from the trucks and SUVs consumers seem to no longer want or be able...
June 11, 2009 9:10 am
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Honda ready with big and small, hopes to win in US
TOKYO -- Honda is ready to offer bigger vehicles in North America should demand return for such models, as well as the small cars viewed as the Japanese automaker's forte, a senior executive told The Associated Press Thursday. Honda Motor...
June 11, 2009 9:10 am
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Fender-benders in micro cars can be costly
WASHINGTON -- Even a fender-bender in a fuel-efficient mini car can lead to thousands of dollars worth of repairs, the insurance industry found in new crash tests, according to The Associated Press. The Insurance Institute for Highway Safety reported Thursday...
June 11, 2009 9:10 am
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Backseat Driver: Automotive News interviews Ernie Boch Jr.
A full page of the June 8 Automotive News is devoted to an interview with Ernie Boch Jr., president of Boch Automotive of Norwood, Mass. He talked about the Chrysler and GM bankruptcies and his take on the future of...
June 10, 2009 5:14 pm
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Oil prices near $72, strike new high for 2009
HOUSTON -- Oil prices surged again Wednesday to a new high for the year with investors pouring money into crude markets as a hedge against inflation, according to The Associated Press. Adding to crude's advance was new government data that...
June 10, 2009 12:53 pm
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Swift Overhaul Moves Ahead as Fiat Acquires Chrysler Assets
With the touch of pen to paper and a simple wire transfer, Chrysler completed its deal with Fiat on Wednesday morning, largely ending its quick trip through bankruptcy, according to The New York Times. The last obstacle to an exit...
June 10, 2009 10:48 am
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Fiat closes deal to take Chrysler's good assets
DETROIT -- Italian automaker Fiat says it has closed a deal to take over Chrysler's good assets, forming a new company and clearing the way for the struggling Chrysler to emerge from bankruptcy protection, according to The Associated Press. Fiat...
June 10, 2009 10:11 am
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Gas prices flatten for first time since April
HOUSTON -- While crude flirted with $70 a barrel Tuesday, gasoline prices failed to rise overnight for the first time in 42 days, signaling a possible break for motorists as summer driving shifts into high gear, according to The Associated...
June 9, 2009 10:38 am
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Court adds uncertainty to Chrysler reorganization
NEW YORK (AP) -- Chrysler headed back to bankruptcy court Tuesday to get a judge to approve the termination of 789 dealer franchises, while Chrysler's plan to become a stronger automaker partnered with Italy's Fiat awaits action by the nation's...
June 9, 2009 10:38 am
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Former AT&T CEO to become new GM chairman
DETROIT -- A former CEO and chairman of telecommunications giant AT&T Inc. will lead General Motors Corp.'s board after the automaker emerges from bankruptcy protection, GM said Tuesday, according to The Associated Press. Edward Whitacre Jr., 67, eventually will replace...
June 9, 2009 10:38 am
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Congress to consider 'cash for clunkers' plan
WASHINGTON (AP) -- Consumers could receive rebates of up to $4,500 for turning in their gas-guzzling cars and trucks for more fuel-efficient vehicles under a House proposal, according to The Associated Press. President Barack Obama has urged Congress to approve...
June 9, 2009 10:38 am
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Fiat commits to Chrysler deal despite court delay
MILAN -- Italian automaker Fiat said Tuesday it will not turn its back on a deal to acquire a controlling stake in Chrysler despite a U.S. Supreme Court stay on the sale, according to The Associated Press. Under terms of...
June 9, 2009 10:38 am
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Chrysler dealers scramble to unload vehicles
The last days of selling Dodge, Jeep and Chrysler vehicles have been filled with quick sales at deep discounts, along with sad goodbyes from longtime customers and feelings of dismay and anger toward the automaker they worked with for years,...
June 8, 2009 3:30 pm
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US files papers opposing delay of Chrysler sale
NEW YORK -- Government officials asked the U.S. Supreme Court on Monday to allow the sale of most of Chrysler's assets to a group led by Italy's Fiat without further delay, according to The Associated Press. The Office of the...
June 8, 2009 3:27 pm
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