By MATTHEW SALTMARSH
Published: May 19, 2009
PARIS — Top executives from the German automakers Volkswagen and Porsche threw themselves behind plans for a merger Tuesday after days of confusion about whether a deal would proceed.
Tuesday, May 19, 2009
VW and Porsche Merger Is Back on Track
By MATTHEW SALTMARSH
Published: May 19, 2009
PARIS — Top executives from the German automakers Volkswagen and Porsche threw themselves behind plans for a merger Tuesday after days of confusion about whether a deal would proceed.
U.S. Department of Labor announces $1.3 million grant to assist workers affected by declining automotive industry in Minnesota
WASHINGTON, May 19 /PRNewswire-USNewswire/ -- The U.S. Department of Labor today announced a $1,320,100 grant to assist approximately 307 workers across the state of Minnesota affected by layoffs from 27 companies in the retail, service and manufacturing sectors of the declining automotive industry.
"These Minnesota workers have expressed interest in education and training, and career development assistance including job placement services," said Secretary of Labor Hilda L. Solis. "Today's grant will aid them in upgrading existing skills and preparing for new careers in growing regional industries."
"These Minnesota workers have expressed interest in education and training, and career development assistance including job placement services," said Secretary of Labor Hilda L. Solis. "Today's grant will aid them in upgrading existing skills and preparing for new careers in growing regional industries."
International Automotive Components furloughs workers
International Automotive Components in Strasburg announced it has furloughed 133 workers because of the closure of General Motors and Chrysler assembly plants, according to the Northern Virginia Daily.
Automakers embrace fuel deal
By Justin Hyde • Free Press Washington Staff • May 19, 2009
WASHINGTON – President Barack Obama announced a historic compromise on tough fuel economy rules among automakers, environmentalists and government agencies, saying a standard of 35.5 miles per gallon by 2016 was a “harbinger of a change in the way business is done in Washington.”
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The pact, hammered out just last weekend, was embraced by Detroit and foreign automakers for granting them national targets for the next eight years, rather than setting short-term goals. California, the nation’s largest emitter of greenhouse gases, will defer its rules through 2016 in return for federal rules that match its goals.
WASHINGTON – President Barack Obama announced a historic compromise on tough fuel economy rules among automakers, environmentalists and government agencies, saying a standard of 35.5 miles per gallon by 2016 was a “harbinger of a change in the way business is done in Washington.”
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The pact, hammered out just last weekend, was embraced by Detroit and foreign automakers for granting them national targets for the next eight years, rather than setting short-term goals. California, the nation’s largest emitter of greenhouse gases, will defer its rules through 2016 in return for federal rules that match its goals.
Monday, May 18, 2009
GM, UAW in dispute over imports and plant closures
GM, UAW in public fight over imports, plant closures as deadline nears for concession deal
* On Monday May 18, 2009, 9:52 am EDT
DETROIT (AP) -- 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.
* On Monday May 18, 2009, 9:52 am EDT
DETROIT (AP) -- 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.
Lower tier auto suppliers lobby for federal aid
Metals casting and forgings plants may be shut without governments help
By Tom Stundza -- Purchasing, 5/14/2009 11:32:00 AM
Lower-tier automotive suppliers are saying the $5 billion in federal aid promised to the tier one suppliers won’t find its way down to them and are in Washington this week requesting their own aid package.
The tier two and three auto suppliers say aid from the existing federal program, reported in March by Purchasing.com, is going to top suppliers and hasn't filtered through to them--the firms that make carburetors, tire rubber, hinges, fasteners and metal and plastics components. And with the financial troubles at Chrysler and General Motors continuing, more of these lower-tier suppliers are in jeopardy of closing, which could put additional stress on the U.S. automotive supply chain.
By Tom Stundza -- Purchasing, 5/14/2009 11:32:00 AM
Lower-tier automotive suppliers are saying the $5 billion in federal aid promised to the tier one suppliers won’t find its way down to them and are in Washington this week requesting their own aid package.
The tier two and three auto suppliers say aid from the existing federal program, reported in March by Purchasing.com, is going to top suppliers and hasn't filtered through to them--the firms that make carburetors, tire rubber, hinges, fasteners and metal and plastics components. And with the financial troubles at Chrysler and General Motors continuing, more of these lower-tier suppliers are in jeopardy of closing, which could put additional stress on the U.S. automotive supply chain.
On brink of failure, auto suppliers press fed for financial help
David Shepardson / Detroit News Washington Bureau
Washington
Auto suppliers urged Congress on Wednesday to assist struggling parts makers in the face of dramatically lower auto production.
Wes Smith, president of E&E Manufacturing in Plymouth, told the House Small Business Committee that "very little assistance has been focused on small manufacturers."
Washington
Auto suppliers urged Congress on Wednesday to assist struggling parts makers in the face of dramatically lower auto production.
Wes Smith, president of E&E Manufacturing in Plymouth, told the House Small Business Committee that "very little assistance has been focused on small manufacturers."
Bankruptcy boom skips Detroit
Detroit court trying hard to compete
BY BRENT SNAVELY • FREE PRESS BUSINESS WRITER • May 18, 2009
Detroit can't even realize the economic benefits to be had from the bankruptcies of its largest companies.
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The headquarters for Chrysler and General Motors might be in Michigan, but when Chrysler filed for bankruptcy, it did so in New York.
If GM files -- as is expected -- the automaker likely will follow Chrysler's lead, despite state Attorney General Mike Cox having asked both GM and Chrysler to file here. GM's lawyers are based in New York, and the court there is moving Chrysler's case along quickly.
That means Detroit's law firms, hotels and restaurants would lose out on millions of dollars again. Large bankruptcy cases generate huge fees for legal and advisory firms; that money often finds its way to hotels, restaurants and legal support firms.
BY BRENT SNAVELY • FREE PRESS BUSINESS WRITER • May 18, 2009
Detroit can't even realize the economic benefits to be had from the bankruptcies of its largest companies.
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The headquarters for Chrysler and General Motors might be in Michigan, but when Chrysler filed for bankruptcy, it did so in New York.
If GM files -- as is expected -- the automaker likely will follow Chrysler's lead, despite state Attorney General Mike Cox having asked both GM and Chrysler to file here. GM's lawyers are based in New York, and the court there is moving Chrysler's case along quickly.
That means Detroit's law firms, hotels and restaurants would lose out on millions of dollars again. Large bankruptcy cases generate huge fees for legal and advisory firms; that money often finds its way to hotels, restaurants and legal support firms.
Shrinking auto suppliers leave space in their wake
When the 265-acre campus was completed for Visteon Corp. in 2004, the company nearly filled the 850,000-square-foot project.
Now, the much-leaner auto supplier is marketing 300,000 square feet for lease by another company.
Leasing the Visteon Village campus is one of several real estate challenges being examined as the cash-strapped automotive supplier base shrinks with slower automotive sales.
Now, the much-leaner auto supplier is marketing 300,000 square feet for lease by another company.
Leasing the Visteon Village campus is one of several real estate challenges being examined as the cash-strapped automotive supplier base shrinks with slower automotive sales.
Sunday, May 17, 2009
These cars have got to go: Dealer cuts mean deals
By TOM KRISHER, AP Auto Writer Tom Krisher, Ap Auto Writer – 39 mins ago
DETROIT – At 789 Chrysler lots across America sit 44,000 potential bargains, cars and trucks that are stuck between shellshocked dealers and a troubled company that no longer wants their services.
The dealers have just a few weeks to sell the Chryslers, Dodges and Jeeps or risk losing thousands of dollars on them, giving people who want a car on the cheap a serious chance for a deal.
DETROIT – At 789 Chrysler lots across America sit 44,000 potential bargains, cars and trucks that are stuck between shellshocked dealers and a troubled company that no longer wants their services.
The dealers have just a few weeks to sell the Chryslers, Dodges and Jeeps or risk losing thousands of dollars on them, giving people who want a car on the cheap a serious chance for a deal.
GM Follows Chrysler
GM Dealerships Closing: SEE THE LIST
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Huffington Post | Ryan McCarthy
First Posted: 05-15-09 02:47 PM | Updated: 05-15-09 06:04 PM
Yhis is so far the most comprehensive list of the dealers being shuttered
digg Share this on Facebook Huffpost - GM Dealerships Closing: SEE THE LIST stumble reddit del.ico.us ShareThis RSS
Huffington Post | Ryan McCarthy
First Posted: 05-15-09 02:47 PM | Updated: 05-15-09 06:04 PM
Yhis is so far the most comprehensive list of the dealers being shuttered
Wednesday, May 06, 2009
Automotive suppliers in trouble says AT Kearney
Automotive suppliers in trouble says AT Kearney urethanes-technology-international (subscription), UK Detroit, Michigan — More than half the US’s Tier 1 auto parts suppliers could file for bankruptcy protection this year, causing another 1 million in job losses and slicing income tax revenue by $9000 million, according to a study by global consultan
GM's troubles put French supplier on alert
Lawrence J. Speer
Automotive News Europe
March 19, 2009 14:00 CET
PARIS -- French supplier Plastic Omnium is keeping a close eye on accounts receivable from a pair of American automakers as the March 31 deadline approaches for General Motors and Chrysler to prove their viability to the U.S. government.
Automotive News Europe
March 19, 2009 14:00 CET
PARIS -- French supplier Plastic Omnium is keeping a close eye on accounts receivable from a pair of American automakers as the March 31 deadline approaches for General Motors and Chrysler to prove their viability to the U.S. government.
Chrysler-Fiat talks intensify
By Kevin Krolicki and Soyoung Kim
DETROIT (Reuters) - Fiat Chief Executive Sergio Marchionne turned up the heat on talks with struggling U.S. automaker Chrysler on Wednesday as General Motors confirmed a possible buyer for its Saturn network.
DETROIT (Reuters) - Fiat Chief Executive Sergio Marchionne turned up the heat on talks with struggling U.S. automaker Chrysler on Wednesday as General Motors confirmed a possible buyer for its Saturn network.
Friday, March 06, 2009
GM Bankrupt? No supprise Huh?
Autoline Daily
Episode 95 - GM More Open To Bankruptcy, Chery Wants Volvo, Tesla Looks For a Rat
March 6, 2009
Today on Autoline Daily, GM management is open to a possible pre-packaged bankruptcy, rather than filing for Chapter 11. Chery received approval to buy Volvo from Ford by China's top economic planner. The CEO of Tesla has been caught trying to set a trap for his employees. All that and more, plus a look at some advanced technology Visteon is working on.
Episode 95 - GM More Open To Bankruptcy, Chery Wants Volvo, Tesla Looks For a Rat
March 6, 2009
Today on Autoline Daily, GM management is open to a possible pre-packaged bankruptcy, rather than filing for Chapter 11. Chery received approval to buy Volvo from Ford by China's top economic planner. The CEO of Tesla has been caught trying to set a trap for his employees. All that and more, plus a look at some advanced technology Visteon is working on.
Inside Toyota
Autoline Detroit
Inside Toyota
Detroit Public Television
Wednesday, March 11 @ 5:30PM ET
Available Now Online at www.autolinedetroit.tv
Sandy Smith, Toyota, Bob Carter, Toyota, Kevin Hunter, CALTY Design Research
Inside Toyota
Detroit Public Television
Wednesday, March 11 @ 5:30PM ET
Available Now Online at www.autolinedetroit.tv
Sandy Smith, Toyota, Bob Carter, Toyota, Kevin Hunter, CALTY Design Research
Thursday, February 19, 2009
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