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September 6, 2009 - September 12, 2009 Archives
GM rescinds white-collar pay cuts made in spring
DETROIT -- General Motors has rescinded white-collar pay cuts it made last spring as it desperately tried to conserve cash and avoid filing for bankruptcy protection, according to The Associated Press. The cuts, ranging from 3 percent for many lower-level...
September 11, 2009 2:52 pm
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General Motors to offer money-back guarantee
General Motors is hoping to jump-start its revival by guaranteeing car buyers that if they don't like their new Chevrolet, GMC, Buick or Cadillac, they have 60 days to bring it back for a full refund, according to The Associated...
September 11, 2009 9:47 am
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Backseat Driver: New world order arising in auto industry
The news from The Associated Press that Canada's Magna International together with Russia's Sberbank is to take control of General Motors' German subsidiary Opel is the latest example of the new world order arising in the auto industry. Outside the...
September 10, 2009 11:18 am
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Backseat Driver: Backseat drivers seen curbing drivers who text
Remember when we all used to smoke? I'm dating myself here but only 30 years ago or so smoking was commonplace from university lecture halls to bars and restaurants let alone to cinemas and airplanes. No more. Lighting up a...
September 10, 2009 11:18 am
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Backseat Driver: If it's not one thing, it's another
The latest cause of dangerous driving to be getting attention is drowsiness or falling asleep at the wheel. "The U.S. National Highway Traffic Safety Administration estimates that 100,000 of reported crashes occur as a result of drowsiness, and considers sleep...
September 10, 2009 11:18 am
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Sources: GM to pick Magna for Opel
BERLIN -- Two German officials told The Associated Press on Thursday that General Motors Co. will recommend selling its Opel unit to Canada's Magna International Inc. The officials spoke on condition of anonymity because the decision had not yet been...
September 10, 2009 9:38 am
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China's Geely eyes bid for Ford's Volvo car
SHANGHAI/HONG KONG - China's Geely Automotive said its parent company plans to bid for all of Ford's Volvo Car, becoming the latest Chinese automaker to chase a foreign marque in a global industry shakeup, according to Reuters. The privately owned...
September 9, 2009 9:20 am
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Taxpayers face heavy losses on auto bailout
WASHINGTON -- Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday, according to The Associated Press. The Congressional Oversight...
September 9, 2009 9:03 am
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Officials set Sept. 30 as goal to pay dealers on clunkers
DETROIT -- The Department of Transportation is kicking up efforts to pay dealers who sold cars under the federal cash-for-clunkers plan and hopes to process all outstanding rebate claims by Sept. 30, according to USA Today. A spokesperson for the...
September 8, 2009 2:24 pm
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China regulator seeks more info on Hummer buy
SHANGHAI - China's Commerce Ministry has not rejected heavy equipment maker Tengzhong's planned purchase of GM's Hummer unit, but has asked for more information on the deal, a source familiar with the matter said on Tuesday, according to Reuters. Legal...
September 8, 2009 9:02 am
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Opel decision may come from GM board meeting
FRANKFURT -- General Motors Co.'s board begins a two-day meeting in Detroit Tuesday that could see it decide the fate of its European unit Opel, an outcome German business leaders and politicians hope preserves thousands of jobs, according to The...
September 8, 2009 9:02 am
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