http://www.champcarnews.com Car News and Events Sat, 16 May 2009 18:56:19 +0000 http://wordpress.org/?v=2.7.1 en hourly 1 http://www.champcarnews.com/2009/05/16/gm-nears-crucial-deal-with-uaw-2/ http://www.champcarnews.com/2009/05/16/gm-nears-crucial-deal-with-uaw-2/#comments Sat, 16 May 2009 18:56:19 +0000 admin http://www.champcarnews.com/2009/05/16/gm-nears-crucial-deal-with-uaw-2/ The News Review: - GM Nears Crucial Deal With UAW - Fiat Workers Rally In Italy Against Shutdowns - State Farm to lower auto insurance rates in California GM Nears Crucial Deal With UAW [/goto.php?url=aHR0cDovL29ubGluZS53c2ouY29tL2FydGljbGUvU0IxMjQyMzQzMjIwNTk3MjE0MjkuaHRtbA==] Wall Street Journal Treasury is near a deal that would cut its hourly labor costs by more than $1 billion a year and reduce its $20 billion pledge to the United Auto Workers to cover health-care obligations said people familiar with the matter. The plan is still in flux but GM and the union could finalize terms as early as next week. The Detroit auto maker expects to halve its remaining cash outlays for retiree health costs to about $10 billion and supplement that contribution with a 39% equity stake in the reorganized GM the people familiar with the matter said. Cutting GM’s health-care costs is an essential part of the “controlled bankruptcy” plan the Treasury Department is formulating for GM. Fiat Workers Rally In Italy Against Shutdowns AHN Redistribution republication. syndication rewriting or broadcast is expressly prohibited without the prior written consent of AHN. –>Mayur Pahilajani - AHN News Writer Turin Italy (AHN) - Thousands of auto workers from the Italian auto giant Fiat took to the streets on Saturday demanding job security following rumors that the automaker may plan to layoff employees due to its ongoing acquisition bid. The march showed heightened concerns among the autoworkers in the country as they gathered in Turin near the company’s headquarters as the company is taking steps to become world’s second largest automobile firm. Canadian-Italian Sergio Marchionne who took the helm in 2004 has managed to avoid cutting jobs in the economic downturn and slumping global sales but the workers fear that it may not be enough. Marchionne is making alliances overseas that might lead to duplication and therefore plant closures in Italy” AFP quoted protestor Francesco Percuoco as saying today. Related from Rizzicreations : Italy holds talks with its struggling auto industry State Farm to lower auto insurance rates in California Los Angeles Times State Farm last year originally asked Poizner to lower rates by about $88 million Heller said. Consumer Watchdog argued that a $350-million reduction would be justified and Poizner approved a cut of $219 million. “Even with this rate decrease” Heller said “State Farm customers will be paying more than they should be for the auto coverage they are getting. ]]> http://www.champcarnews.com/2009/05/16/gm-nears-crucial-deal-with-uaw-2/feed/ http://www.champcarnews.com/2009/05/15/gm-nears-crucial-deal-with-uaw/ http://www.champcarnews.com/2009/05/15/gm-nears-crucial-deal-with-uaw/#comments Fri, 15 May 2009 19:48:26 +0000 admin http://www.champcarnews.com/2009/05/15/gm-nears-crucial-deal-with-uaw/ The News Review: - GM Nears Crucial Deal With UAW - State Farm to lower auto insurance rates in California - US Rep Velazquez:’Crippled’ Auto Suppliers Threaten GM Chrysler GM Nears Crucial Deal With UAW Wall Street Journal Treasury is near a deal that would cut its hourly labor costs by more than $1 billion a year and reduce its $20 billion pledge to the United Auto Workers to cover health-care obligations said people familiar with the matter. The plan is still in flux but GM and the union could finalize terms as early as next week. The Detroit auto maker expects to halve its remaining cash outlays for retiree health costs to about $10 billion and supplement that contribution with a 39% equity stake in the reorganized GM the people familiar with the matter said. Cutting GM’s health-care costs is an essential part of the “controlled bankruptcy” plan the Treasury Department is formulating for GM. State Farm to lower auto insurance rates in California Los Angeles Times State Farm last year originally asked Poizner to lower rates by about $88 million Heller said. Consumer Watchdog argued that a $350-million reduction would be justified and Poizner approved a cut of $219 million. “Even with this rate decrease” Heller said “State Farm customers will be paying more than they should be for the auto coverage they are getting. Related from Birminghamspoint : $4.2M verdict upheld against Birmingham lawyer State Farm rep US Rep Velazquez:’Crippled’ Auto Suppliers Threaten GM Chrysler CNNMoney.com House of Representatives Democratic leaderurged more government aid for auto suppliers Wednesday warning that thedramatic downturn in car sales could force half of the nation’s suppliers toshut down by 2012. Pending bankruptcy filings by parts suppliers threaten to further cripplemajor manufacturers like General Motors Corp. (GM) and Chrysler LLC said Rep. Nydia Velazquez D-N. ]]> http://www.champcarnews.com/2009/05/15/gm-nears-crucial-deal-with-uaw/feed/ http://www.champcarnews.com/2009/05/14/us-rep-velazquezcrippled-auto-suppliers-threaten-gm-chrysler/ http://www.champcarnews.com/2009/05/14/us-rep-velazquezcrippled-auto-suppliers-threaten-gm-chrysler/#comments Thu, 14 May 2009 20:43:58 +0000 admin http://www.champcarnews.com/2009/05/14/us-rep-velazquezcrippled-auto-suppliers-threaten-gm-chrysler/ The News Review: - US Rep Velazquez:’Crippled’ Auto Suppliers Threaten GM Chrysler - Detroit-Area Auto Workers Fill the Audience for Eminem’s Exclusive … - State Farm to lower auto insurance rates - Chrysler to terminate US dealers Ford on track US Rep Velazquez:’Crippled’ Auto Suppliers Threaten GM Chrysler CNNMoney.com House of Representatives Democratic leaderurged more government aid for auto suppliers Wednesday warning that thedramatic downturn in car sales could force half of the nation’s suppliers toshut down by 2012. Pending bankruptcy filings by parts suppliers threaten to further cripplemajor manufacturers like General Motors Corp. (GM) and Chrysler LLC said Rep. Nydia Velazquez D-N. Detroit-Area Auto Workers Fill the Audience for Eminem’s Exclusive … PR Newswire (press release) The auto workers many of whom live and work in the Detroit area and are affected by the auto industry crisis will come to Los Angeles to enjoy a rare talk and musical performance by Eminem. The following week each of the chosen autoworkers along with a guest will also be exclusively invited to an Eminem concert in Detroit to show support for the community and demonstrate the resiliency of the city. To coincide with the release of Eminem’s highly anticipated new album Relapse on May 19 “Jimmy Kimmel Live!” will air a new song from the album on both May 15 and May 19 with additional music on May 22 from his Detroit performance. “Jimmy Kimmel Live” will work in association with 5-Hour Energy to put on this unique performance on the Pontiac Garage utdoor Stage. “Jimmy Kimmel Live!”Packed with hilarious comedy bits and a house band led by Jimmy’s childhood best friend “Jimmy Kimmel Live” features a diverse lineup of guests that includes celebrities athletes musicians comedians and humorous human interest subjects. State Farm to lower auto insurance rates Los Angeles Times A slowing economy and concern about high fuel prices are causing people to drive less while safer cars and stricter law enforcement have reduced losses from damage claims. State Farm’s rate cut comes at a good time for consumers Poizner said. “It is encouraging that in these tough economic times the largest auto insurer in the state is passing company savings along to policyholders” he said. Chrysler to terminate US dealers Ford on track Reuters Ford’s top executives told shareholders at its annual meeting in Wilmington Delaware that the automaker’s restructuring is on track to bring a profit as soon as 2011 without the need to resort to emergency government bridge loans. In the meeting Ford shareholders also approved the company’s funding plan for a healthcare trust for United Auto Workers union retirees and rejected a challenge to the share voting structure that gives the Ford family control of the automaker. The meeting came as Chrysler which filed for bankruptcy protection last month sought permission from a U. bankruptcy court to terminate franchise agreements with 789 of 3181 dealerships as of June 9. Chrysler and General Motors Corp (. Related from Sales-monster : GM: Saturn could survive; Chrysler: We’ll be viable by spring ]]> http://www.champcarnews.com/2009/05/14/us-rep-velazquezcrippled-auto-suppliers-threaten-gm-chrysler/feed/ http://www.champcarnews.com/2009/04/23/rice-kd-cia-waterboard-request-as-bush-adviser/ http://www.champcarnews.com/2009/04/23/rice-kd-cia-waterboard-request-as-bush-adviser/#comments Thu, 23 Apr 2009 05:56:08 +0000 admin http://www.champcarnews.com/2009/04/23/rice-kd-cia-waterboard-request-as-bush-adviser/ The News Review: - Rice K’d CIA waterboard request as Bush adviser - UN urges Tamil Tigers to surrender - India polls resume amid attacks Rice K’d CIA waterboard request as Bush adviser The Associated Press Bush Condoleezza Rice verbally approved the CIA’s request to subject alleged al-Qaida terrorist Abu Zubaydah to waterboarding in July 2002 the earliest known decision by a Bush administration official to K use of the simulated drowning technique. Rice’s role was detailed in a narrative released Wednesday by the Senate Intelligence Committee. It provides the most detailed timeline yet for how the CIA’s harsh interrogation program was conceived and approved at the highest levels in the Bush White House. The new timeline shows that Rice played a greater role than she admitted last fall in written testimony to the Senate Armed Services Committee. UN urges Tamil Tigers to surrender Aljazeera.net ASIA UN urges Tamil Tigers to surrender. Wednesday’s call by Claude Heller the council’s rotating president came as rights groups pressed the UN to do more warning that tens of thousands of civilians remain stuck in “catastrophic” conditions. Heller said: “We demand that the LTTE [Liberation Tigers of Tamil Eelam] immediately lay down arms renounce terrorism allow a UN-assisted evacuation of the remaining civilians in the conflict area and join the political process. ‘Human shields’Diplomats told reporters after the closed session that the security council “strongly condemned” the Tigers and accused them of using civilians trapped in a small strip of land as human shields. Related from Defacedeath : Two key Tamil Tigers ’surrender’ India polls resume amid attacks Aljazeera.net ASIA India holds second round of vote. The second of five rounds of polling opened on Thursday a day after suspected Maoist rebels briefly hijacked a train in the east of the country. Polling in the election began on April 16 and will continue for a month with results expected on May 16. With more than 700 million eligible voters India normally holds staggered elections for logistical and security reasons. ]]> http://www.champcarnews.com/2009/04/23/rice-kd-cia-waterboard-request-as-bush-adviser/feed/ http://www.champcarnews.com/2009/04/22/gm-dealers-in-shadow-of-bad-news/ http://www.champcarnews.com/2009/04/22/gm-dealers-in-shadow-of-bad-news/#comments Wed, 22 Apr 2009 06:51:37 +0000 admin http://www.champcarnews.com/2009/04/22/gm-dealers-in-shadow-of-bad-news/ The News Review: - GM dealers in shadow of bad news - SARAH A. WEBSTER - Japanese car makers upbeat on 2009 China sales - Johnson Controls 2Q Loss Nearly $200M; Sees Pft Ahead GM dealers in shadow of bad news United Press International auto dealers need to prepare for the possibility of the U. automaker’s bankruptcy an attorney who represents auto dealers said. “They are going to have to plan to operate without any expectation of when and if that money is going to come in the door” attorney Scott Silverman a partner at McCarter & English in Massachusetts told USA Today. SARAH A. WEBSTER Detroit Free Press car when tech-savvy types can configure one in their garage by rewiring their existing hybrids. Three years ago the magazine Popular Mechanics even wrote an article prodding the auto industry for not building the 100 m. “They reality always seems to be just a few years away” the magazine complained. Japanese car makers upbeat on 2009 China sales MarketWatch “China’s economy and auto industry are continuing their steady growth amid the global economy slowing down” Katsuaki Watanabe Toyota president said at a press conference at the Shanghai auto show. The Chinese auto market is showing surprising resilience with sales in March climbing 5% to a record 1. 11 million vehicles helped by government stimulus initiatives to boost spending such as tax cuts and other subsidies on auto purchases. This is a major improvement from the last six months when car sales slowed amid the global financial crisis. The country’s vehicle sales growth slowed to 6. Johnson Controls 2Q Loss Nearly $200M; Sees Pft Ahead Wall Street Journal ) DETRIT (Dow Jones) — Johnson Controls Inc. (JCI) on Tuesday reported a second-quarter loss of nearly $200 million after the auto parts supplier was unable to shake off the historic industry downturn that has led to steep production cuts by its auto maker customers. Steve Roell Johnson Controls’ chief executive officer said he has yet to see any bottoming out in the auto and housing sectors and the company will continue slashing jobs and closing plants to control costs. The company makes auto. Related from Macmedal : Team USA Collects Eight Medals on Day 1 at Junior Pan Pacs ]]> http://www.champcarnews.com/2009/04/22/gm-dealers-in-shadow-of-bad-news/feed/ http://www.champcarnews.com/2009/04/21/japanese-car-makers-upbeat-on-2009-china-sales/ http://www.champcarnews.com/2009/04/21/japanese-car-makers-upbeat-on-2009-china-sales/#comments Tue, 21 Apr 2009 07:46:23 +0000 admin http://www.champcarnews.com/2009/04/21/japanese-car-makers-upbeat-on-2009-china-sales/ The News Review: - Japanese car makers upbeat on 2009 China sales - GM exec says 1600 will lose jobs in next few days - Schwarzenegger blames auto woes on empty US policy - GM lobbying falls 15 percent in first quarter - Idea of quick GM bankruptcy filing meets with skepticism Japanese car makers upbeat on 2009 China sales MarketWatch “China’s economy and auto industry are continuing their steady growth amid the global economy slowing down” Katsuaki Watanabe Toyota president said at a press conference at the Shanghai auto show. The Chinese auto market is showing surprising resilience with sales in March climbing 5% to a record 1. 11 million vehicles helped by government stimulus initiatives to boost spending such as tax cuts and other subsidies on auto purchases. This is a major improvement from the last six months when car sales slowed amid the global financial crisis. The country’s vehicle sales growth slowed to 6. Related from 9p2cn : Honda’s China vehicle sales up 11.7 percent in 2008 GM exec says 1600 will lose jobs in next few days The Associated Press The company will provide services to help them find other jobs for up to three months he said. GM must cut costs and win concessions from bondholders and its unions in order to get more government aid. The government’s auto task force has said the company must persuade the holders of $28 billion in GM bonds to take stock in exchange for part of the debt. and Canada must agree to concessions too. For GM to qualify for more help the United Auto Workers must agree to take stock for part of the roughly $20 billion that GM must pay into a union-run trust that will take over retiree health care costs starting next year. Schwarzenegger blames auto woes on empty US policy AFP “The government should provide money to help the automakers in research and development but it can also no longer keep changing their policies” said Schwarzenegger at the Society of Automotive Engineers (SAE) conference here. “We need a vision for energy a vision for our cars a vision for greenhouse gases and a vision for tailpipe emissions. In all this time we have not had those visions. “The lack of a coherent energy policy dating back to the late 1980s has hurt carmakers he said alleging that prevailing policies had been basically tied to the low price of oil in the United States which stiffled innovation. GM lobbying falls 15 percent in first quarter The Detroit News com | The Detroit News. 8 million on lobbying in the first three months of 2009 falling 15 percent over the last three months of 2008. Idea of quick GM bankruptcy filing meets with skepticism USA Today He looked at recent prepackaged bankruptcies and saw that none took less than six months. That’s because bankruptcy law allows every interested party to be heard by a judge which can take weeks months or years. Auto supplier Delphi filed in ctober 2005. It is still in bankruptcy court and more than 16000 documents have been filed. “The process of bankruptcy cannot be rushed” Bernstein said. GM has received $13. 4 billion in federal loans and President bama said it must offer a more aggressive restructuring plan by June 1 to get more aid. ]]> http://www.champcarnews.com/2009/04/21/japanese-car-makers-upbeat-on-2009-china-sales/feed/ http://www.champcarnews.com/2009/04/16/jpmorgans-dimon-exposure-to-big-3-auto-firms-less-than-1-billion/ http://www.champcarnews.com/2009/04/16/jpmorgans-dimon-exposure-to-big-3-auto-firms-less-than-1-billion/#comments Thu, 16 Apr 2009 17:51:11 +0000 admin http://www.champcarnews.com/2009/04/16/jpmorgans-dimon-exposure-to-big-3-auto-firms-less-than-1-billion/ The News Review: - JPMorgan’s Dimon: Exposure To Big 3 Auto Firms Less Than $1 Billion - AP sources: UAW focusing on talks with Chrysler - Auto industry on plug-in hybrids and electric cars - Auto thefts in Valley drop; insurance rates could too - TM WALSH How best to help hard-hit auto towns? - Scott Storch Arrested For Grand Theft Auto In Miami JPMorgan’s Dimon: Exposure To Big 3 Auto Firms Less Than $1 Billion CNNMoney.com (JPM) Chairman and Chief ExecutiveJamie Dimon said during a conference call with investors that his bank’sexposure to the auto industry is reserved for but could cause some losses. “The three companies are total exposure in other words how much could wepossibly lose at the far end it would be well less than $1 billion” he said. “We have exposure to the finance companies mostly collateralized. AP sources: UAW focusing on talks with Chrysler The Associated Press on the back burner as it tries to reach a deal with Chrysler LLC before an April 30 government deadline two people briefed on the negotiations said Thursday. The decision likely means that any deal with Chrysler will set the pattern for concessions granted to GM as both companies try to show the government they have cut costs enough to get more government loans. The people who spoke on condition of anonymity because the talks are private said the union is focusing on Chrysler because its government deadline to cut labor costs and swap debt for equity is just two weeks away. Chrysler also has to ink an alliance deal with Fiat Group SpA by April 30 to get more government aid. Auto industry on plug-in hybrids and electric cars The Associated Press Many industry officials say the goal is a worthy one but will be difficult to meet. A look at the work by some auto manufacturers:GENERAL MTRS CRP. : General Motors is set to produce the Chevrolet Volt an extended range electric plug-in in late 2010 in limited numbers. The Volt is the centerpiece of GM’s attempt to take the lead in electric vehicles and will have a lithium-ion battery and electric motor that can take the car 40 miles on a single charge. A gasoline engine will kick in to power a generator to extend the Volt’s range beyond the 40 miles. GM has not yet announced the price of the car but the cost is expected to be $30000 to $40000. Auto thefts in Valley drop; insurance rates could too Arizona Republic 16 2009 12:00 AM The Arizona Republic Valley residents are more likely to see something in their driveways this morning: their cars. In 2008 25794 cars were stolen in the metro area according to National Insurance Crime Bureau data released this week. That’s a decline from 2007 when the number was 34182. The car-theft rate is one factor insurance companies use to set rates which could mean lower costs for drivers according to the Arizona Insurance Information Association. Related from Insurancemonster : No increases for insurance companies that based auto rates on … TM WALSH How best to help hard-hit auto towns? Detroit Free Press If he’s anything like me or Lansing Mayor Virg Bernero he must have been struck by (a) the sheer magnitude of the devastation wrought by the auto industry crisis and (b) the wildly different and contradictory proposals for how to address it. Montgomery did not speak at the conference saying — as he has since his March 30 appointment — that he’s still gathering information. Scott Storch Arrested For Grand Theft Auto In Miami MTV.com addEntry({} {button:true} );If only it was a just video game but this isn’t a level of “Grand Theft Auto. ” Producer Scott Storch was apprehended by police in Miami on Friday and charged with well grand theft auto. The producer posted an undisclosed amount for his bond soon after. MTV News obtained a copy of the police report and according to the authorities Storch had begun leasing a 2004 Bentley GT in February 2006 with a return date of March 2008. The owners of the vehicle Atlas Leasing Company are alleging that Storch failed to comply with the terms of their leasing agreement. ]]> http://www.champcarnews.com/2009/04/16/jpmorgans-dimon-exposure-to-big-3-auto-firms-less-than-1-billion/feed/ http://www.champcarnews.com/2009/04/15/fiat-to-chrysler-cut-costs-or-we-walk-sen-shelby-spouts-off/ http://www.champcarnews.com/2009/04/15/fiat-to-chrysler-cut-costs-or-we-walk-sen-shelby-spouts-off/#comments Wed, 15 Apr 2009 18:47:18 +0000 admin http://www.champcarnews.com/2009/04/15/fiat-to-chrysler-cut-costs-or-we-walk-sen-shelby-spouts-off/ The News Review: - Fiat to Chrysler: Cut costs or we walk; Sen. Shelby spouts off - GMFord To ffer $50 Gift Cards At Auto Show For Test Drives - US moots taking stake in General Motors to pay off loans: WSJ - Auto-Loan Backed $1.13B Non-TALF Eligible Deal Launched Fiat to Chrysler: Cut costs or we walk; Sen. Shelby spouts off Detroit Free Press com and other Web sites. Check back for updates throughout the morning. Follow the Morning Auto Report on. GMFord To ffer $50 Gift Cards At Auto Show For Test Drives Wall Street Journal (GM) and Ford Motor Co. (F) will offer $50 gift cards to lure New York International Auto Show visitors to test drive a vehicle at a dealership as the auto makers continue offering creative incentives to combat slumping showroom traffic. Late last month both GM and Ford outlined new incentive. US moots taking stake in General Motors to pay off loans: WSJ RTT News 4 billion it lent General Motors Corp. The government is considering this measure as it has not been able to find outside private investors for a revamped GM the report added. The move is hoped to push the United Auto Workers union and bondholders to accept similar concessions. Interim GM Chairman Kent Kresa reportedly said the company would welcome the government’s willingness to let it pay off some of the loans with stock. However such an action could make the federal government a direct shareholder in GM for years. Auto-Loan Backed $1.13B Non-TALF Eligible Deal Launched Wall Street Journal 13B Non-TALF Eligible Deal Launched ArticleCommentsmore in. ) NEW YRK (Dow Jones)–An auto loan-backed deal that was increased in size to $1. 125 billion has launched according to a person familiar with the deal. The bond USAT 09-1 issued by USAA a financial-services company isn’t eligible for funding under the Federal Reserve’s. Related from Mortgagerefinancemonster : Lenders see holes in bama refi plan ]]> http://www.champcarnews.com/2009/04/15/fiat-to-chrysler-cut-costs-or-we-walk-sen-shelby-spouts-off/feed/ http://www.champcarnews.com/2009/04/08/moodys-raises-rating-n-ford-after-99b-debt-reduction/ http://www.champcarnews.com/2009/04/08/moodys-raises-rating-n-ford-after-99b-debt-reduction/#comments Wed, 08 Apr 2009 06:00:53 +0000 admin http://www.champcarnews.com/2009/04/08/moodys-raises-rating-n-ford-after-99b-debt-reduction/ The News Review: - Moody’s Raises Rating n Ford After $9.9B Debt Reduction - Reports: China auto sales 1.03 million in March - Canada Govt Unveils Aid For Auto-Parts Makers - Brazil Still A Mixed Bag For US Auto Makers Moody’s Raises Rating n Ford After $9.9B Debt Reduction Wall Street Journal 9B Debt Reduction ArticleCommentsmore in. ’s (F) probability of default rating following the completion of its tender and exchange offers Monday that reduced the auto maker’s debt by $9. The ratings firm said completion of the debt restructuring means Ford has largely satisfied three conditions the Treasury listed when making loans to General Motors Corp. Related from Lasilla : Spain Downgraded by S&P as Slump Swells Budget Gap Reports: China auto sales 1.03 million in March Forbes 03 million in March exceeding U. sales for the third month in a row state media reports said Wednesday. Sales data from 14 major auto makers accounting for roughly 90 percent of total sales totaled 1. Canada Govt Unveils Aid For Auto-Parts Makers Wall Street Journal ) TTAWA (Dow Jones)–The Canadian government unveiled measures to help auto-parts suppliers but warned it was ready for “all options” including bankruptcy protection for the Canadian units of General Motors Corp. (GM) and Chrysler LLC (C. Industry Minister Tony Clement said Tuesday the government has added C$700 million (US$565 million) to Export Development Canada’s accounts receivable insurance program for suppliers of auto parts. The top-up expands the program to C$1. Brazil Still A Mixed Bag For US Auto Makers CNNMoney.com (GM) andFord Motor Co. General Motors is still selling less cars on the year in Brazil down 12. 9% to102523 between January and March 31. ]]> http://www.champcarnews.com/2009/04/08/moodys-raises-rating-n-ford-after-99b-debt-reduction/feed/ http://www.champcarnews.com/2009/04/07/credit-markets-ford-shows-gm-chrysler-how-its-done/ http://www.champcarnews.com/2009/04/07/credit-markets-ford-shows-gm-chrysler-how-its-done/#comments Tue, 07 Apr 2009 06:47:03 +0000 admin http://www.champcarnews.com/2009/04/07/credit-markets-ford-shows-gm-chrysler-how-its-done/ CREDIT MARKETS: Ford Shows GM Chrysler How It’s Done ArticleComments [...]]]> The News Review: - CREDIT MARKETS: Ford Shows GM Chrysler How It’s Done - GM Segway to Make Vehicle - Auto Restarts Trim Midwest Manufacturing Decline To 0.4% In Feb - Russian Auto Bailout Protects Jobs Not Efficiency CREDIT MARKETS: Ford Shows GM Chrysler How It’s Done Wall Street Journal –>CREDIT MARKETS: Ford Shows GM Chrysler How It’s Done ArticleComments NEW YRK (Dow Jones)–Ford Motor Co. (F) said Monday it cut its debt by $9. 9 billion - turning up the heat on similar efforts of fellow U. auto makers General Motors Corp. (GM) and Chrysler LLC. Related from Wtgmarketingsummit : Ford names new head of global marketing GM Segway to Make Vehicle Wall Street Journal GM has slashed product-development programs advertising and spending on auto-show events. But it will take to the streets of Manhattan on Tuesday to show off a prototype of the vehicle called PUMA for Personal Urban Mobility and Accessibility. The Segway Personal Transporter was launched with considerable hype eight years ago but practical issues prevented the scooter from becoming a mass-market product including its relatively high cost and restrictions on its use in many jurisdictions. GM is betting PUMA’s more car-like traits — an enclosed compartment and top speed of 35 miles per hour — will lead to better results. Auto Restarts Trim Midwest Manufacturing Decline To 0.4% In Feb Wall Street Journal –>Auto Restarts Trim Midwest Manufacturing Decline To 0. 4% In Feb ArticleCommentsmore in. Midwest eased in February helped by auto plants restarting production after widespread shutdowns the previous month. The Chicago Fed Midwest Manufacturing index fell 0. 4% to a seasonally adjusted level of 83. Russian Auto Bailout Protects Jobs Not Efficiency New York Times No demands to turn out better-quality cars much less fuel-efficient hybrid cars. (The first car with an airbag was introduced here in 2005. )But the auto bailout Russian style is intended more to ensure peace in the streets than restructure a business much to the lament of some critics who think tough love might be better. “The key issue is too much government protection” Yegor T. Gaidar a former prime minister said. “The factory will create as many problems for the Russian economy as General Motors for the States. ”Moscow’s concerns extend far beyond automobiles. ]]> http://www.champcarnews.com/2009/04/07/credit-markets-ford-shows-gm-chrysler-how-its-done/feed/