National News

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Wednesday, 10 June 2009 10:40

New Chrysler Emerges, New Chair, Board, and Structure

UAW retirement fund now majority owner of Chrysler

Chrysler and Fiat announced June 10 that the two automakers have finalized their strategic alliance, forming Chrysler Group LLC to be headed by Fiat's CEO Sergio Marchionne. Marchionne is a lawyer with both Canadian and Italian citizenship. Robert Kidder, an engineer and a former CEO of battery maker Duracell and consultant to Ford, is to be named chairman.

Wednesday, 10 June 2009 09:49

House Passes Cash for Clunkers, Senate counters

The U.S. House of Representatives has passed House Bill 2751, The Consumer Assistance to Recycle and Save (CARS) Act, sponsored by Rep. Betty Sutton, D-Ohio. This “Cash for Clunkers” bill, which passed with a margin of 298-119, aims to accelerate motor fuel savings nationwide and provide incentives to registered owners of high-polluting automobiles to replace such automobiles with new fuel efficient and less polluting automobiles. Advocates argue that this bill aims to spur new car sales in a relatively short period of time.

Tuesday, 09 June 2009 16:55

Supreme Court Lifts Stay---Chrysler Sale to Proceed

The US Supreme court rejected appeals filed by three Indiana pension funds, a coalition of consumer groups, and a few individuals, to block Chrysler's sale on June 9.

Tuesday, 09 June 2009 16:42

GSA Orders $210 Million Worth of Fuel Efficient Vehicles from Domestic Automakers

The U.S. General Services Administration is one step closer to fulfilling its responsibilities outlined in President Obama’s economic recovery legislation. On June 1, 2009, the agency ordered 14,105 fuel efficient vehicles for the Federal fleet using $210 million of funds from the American Recovery and Reinvestment Act (ARRA).

Friday, 05 June 2009 07:36

Roger Penske to buy Saturn, GM to finance Delphi

GM is near agreements to sell its Saturn division and to help finance the buyout of bankrupt auto-parts supplier Delphi Corp., according to reports Friday in The Wall Street Journal. Reports say GM has inked a preliminary deal to sell off Saturn to major auto dealer and racing icon Roger Penske.

Thursday, 04 June 2009 14:18

Senate Commerce Committee Reviews Dealership Closures

Automakers Make Case for Closings

The U.S. Senate Committee on Commerce, Science and Transportation held a hearing to review “GM and Chrysler Closures: Protecting Dealers and Consumers.” Sen. Jay Rockefeller, D-W.Va., chairman, opened the hearing defending automobile dealers against the dealership closures by automakers.

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Thursday, 04 June 2009 08:29

Dealership Closings Justified say GM, Chrysler

The top executives of GM and Chrysler have said that dealership closings are justified, as they try to overcome bankruptcy and survive. The executives acknowledged that cutting dealerships was causing pain around the country in front of the Senate Commerce committee on June 3.

Monday, 01 June 2009 17:38

President Obama's June 1 Speech on GM and Chrysler

THE PRESIDENT: Good morning, everybody. Just over two months ago, I spoke with you in this same spot about the challenges facing our auto industry, and I laid out what needed to be done to save two of America's most storied automakers -- General Motors and Chrysler. These companies were facing a crisis decades in the making, and having relied on loans from the previous administration, were asking for more.

Monday, 01 June 2009 17:08

GM has buyer for Hummer

In what may be the first significant act post-bankruptcy, GM has announced that a buyer for Hummer has come forward.

Monday, 01 June 2009 16:56

Chrysler Plants likely to close permanently

Eight Chrysler plants now seem likely to be closed down entirely. In addition to plants in south St. Louis, Missouri and Newark, Deleware that are already idle, the following 6 North American plants are in danger: