Thursday, August 7, 2008 Board tightens watch on GM Directors vow support for CEO and team, but are keeping closer tabs in challenging times. Christine Tierney / The Detroit News The lead outside director of General Motors Corp. said Wednesday that Chairman and CEO Rick Wagoner has the board’s unanimous backing but added that directors [...]

  Ford met salaried cost cut goal queryvar=”ford,met,salaried,cost,cut,goal”; Automotive News | August 6, 2008 – 4:32 pm EST     DETROIT (Reuters) — Ford Motor Co. has reached its goal of cutting salaried costs by 15 percent in North America under its overall restructuring and is prepared to cut more if necessary, a top executive [...]

  Robert Sherefkin Automotive News | August 7, 2008 – 12:01 am EST       DETROIT — Chrysler LLC appears headed for a crack up with Dana Holding Corp., one of its largest and oldest driveline parts suppliers. Dana, in a statement released Wednesday evening, said it has asked a U.S. Bankruptcy Court in [...]

  Toyota posts 39% drop in Q1 profit queryvar=”toyota,posts,39%,drop,in,q1,profit”; Automotive News | August 7, 2008 – 2:45 am EST ENLARGE U.S. sales of the Toyota Prius fell 3.9 percent through July vs. the same period of 2007,   TOKYO (Thomson Financial) — Toyota Motor Corp. said on Thursday its operating profit dropped 39 percent in [...]

Ford launching blind-spot mirror on Edge this fall August 6, 2008 4:52 PM ET DEARBORN, Mich. (AP) – Ford Motor Co. said Wednesday it will introduce its new blind-spot mirror this fall on the 2009 Ford Edge crossover. The automaker had planned to bring the mirror to market next year but moved up the date [...]