GM preparing cuts in contract workforce
queryvar=”gm,preparing,cuts,in,contract,workforce”;

Amy Wilson
and Robert Sherefkin
Automotive News | September 30, 2008 - 12:01 am EST
 
 
DETROIT — General Motors will begin cutting U.S. contract workers as early as next week.
The reduction in GM’s contract staffing is part of a bigger effort to reduce the automaker’s overall costs, sources familiar with the [...]

 
Heard lawyer: Dealer is ‘out of money’
Court approves funding for liquidation and other expenses
queryvar=”heard,lawyer:,dealer,is,‘out,of,money’”;

April Wortham
and Chrissie Thompson
Automotive News | September 29, 2008 - 12:01 am EST

ENLARGE

A Bill Heard Enterprises employee locks the gate at the flagship Chevrolet store in Columbus, Ga.
[...]

Tuesday, September 30, 2008
Auto briefs
Bush nominates new highway safety chief
WASHINGTON — The Bush administration has nominated David Kelly to lead the federal agency that regulates the auto industry. President Bush nominated Kelly on Monday to be the administrator of the National Highway Traffic Safety Administration. Kelly has served as acting administrator since mid-August. Kelly was [...]

Tuesday, September 30, 2008
Carmakers wince as bailout fails
Worries spread that if credit markets stay tight, fewer buyers will get car loans and sales will dive.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — Automakers and legislators warned Monday that the auto financing market was in danger of collapsing after a $700 billion Wall Street bailout package [...]

Monday, September 29, 2008
GM stock hits 54-year-low on bailout vote
David Shepardson / The Detroit News
General Motors Corp. stock plunged to a 54-year-low Wednesday on the House vote to reject a $700 billion Wall Street bailout, while other auto sector stocks also were hammered.
GM stock fell 12.8 percent to $8.51, losing $1.25 a share, to fall [...]

 
 
Saturday, September 27, 2008
GM wants 100-mpg rating for ‘10 Volt
David Shepardson / Detroit News Washington Bureau
WASHINGTON — Will the Volt break the 100 mpg barrier?
General Motors Corp. said Friday it has reached a preliminary agreement with the California Air Resources Board about how to classify its Chevy Volt in terms of emissions standards that could [...]

 
Target for Traverse: No. 1 in large crossovers
queryvar=”target,for,traverse:,no,1,in,large,crossovers”;

Amy Wilson
Automotive News | September 29, 2008 - 12:01 am EST

ENLARGE

Early incentives could help the Traverse beat Highlander and Pilot.

 
DETROIT — Toyota and [...]

 
Credit freeze plunges Detroit 3 in cash crisis
queryvar=”credit,freeze,plunges,detroit,3,in,cash,crisis”;

Jim Henry
Automotive News | September 29, 2008 - 12:01 am EST
 
 
The Detroit 3 face a cash crisis that threatens their solvency before an anticipated recovery in 2010, analysts suggest.
Credit largely has dried up for the Detroit 3 at a time when slumping sales are depriving the companies [...]

3 strategies, with the wolf at the door
GM, Ford and Chrysler place new-product bets
queryvar=”3,strategies,with,the,wolf,at,the,door”;

Bradford Wernle
Automotive News | September 29, 2008 - 12:01 am EST
 
 
DETROIT — Call it Chrysler’s Hail Mary strategy.
Caught in a vise between looming federal fuel economy regulations and its own desperate financial circumstances, Chrysler LLC revealed last week that it will [...]

 
Mitsubishi, UAW reach tentative agreement
queryvar=”mitsubishi,uaw,reach,tentative,agreement”;

Lindsay Chappell
Automotive News | September 26, 2008 - 10:56 am EST

 
Mitsubishi Motors North America Inc. has reached a tentative labor agreement with its U.S. factory workers after three weeks of operating without a contract.
Workers at the Normal, Ill., plant learned of the agreement today from an announcement over the plant’s [...]

 
Hendrick, Gregory vying for Heard stores
queryvar=”hendrick,gregory,vying,for,heard,stores”;

Chrissie Thompson
Automotive News | September 26, 2008 - 4:30 pm EST
 
 
The 58-store dealership group owned by NASCAR-team owner Rick Hendrick has discussed expanding its company with “the folks at Bill Heard Enterprises,” Hendrick said late Friday in a statement.
Hendrick Automotive Group is vying to buy some of the Bill [...]

 
GM preparing cuts in contract workforce
queryvar=”gm,preparing,cuts,in,contract,workforce”;

Amy Wilson
and Robert Sherefkin
Automotive News | September 26, 2008 - 8:12 pm EST
 
 
DETROIT — General Motors will begin cutting U.S. contract workers as early as next week.
The reduction in GM’s contract staffing is part of a bigger effort to reduce the automaker’s overall costs, sources familiar with the [...]

 
GM shuts down minivan plant in Georgia
queryvar=”gm,shuts,down,minivan,plant,in,georgia”;

Automotive News | September 26, 2008 - 2:11 pm EST
 
 
General Motors today made its last minivan at the 60-year-old Doraville, Ga., assembly plant, the Atlanta Journal-Constitution newspaper reported.
The plant closure took place a day earlier than scheduled and only a handful of the plant’s 1,200 employees remained on hand [...]

Philip Nussel
and Lindsay Chappell
Automotive News | September 26, 2008 - 10:56 am EST
 

 
 
Mitsubishi North America and the [...]

Friday, September 26, 2008
Daniel Howes
Big 3’s fed loans only 1st step
With demand for autos and trucks falling, carmakers must get it right this time to survive brutal economic marketplace.

Getting federal loans may turn out to be the easy part for Detroit’s automakers.
With House approval of a $25 billion direct loan package, ostensibly to be used [...]

Friday, September 26, 2008
Government may delay auto money
David Shepardson / The Detroit news
WASHINGTON — The $25 billion in low-cost government loans domestic automakers are banking on to retool plants to build more fuel-efficient vehicles may not be awarded until mid-2010, the U.S. Energy Department said Thursday.
That announcement threw cold water on suggestions from Michigan’s members [...]

 
Chrysler will lay off 300 salaried workers this week

David Barkholz
and Bradford Wernle
Automotive News | September 25, 2008 - 11:07 am EST 
 
About 300 salaried Chrysler LLC workers are being terminated today and Friday, Sept. 26, Automotive News has learned.
Chrysler is turning to layoffs to reach the 1,000 salaried job reductions announced in July.
Chrysler [...]

 
Delphi wins court approval for increased GM role
queryvar=”delphi,wins,court,approval,for,increased,gm,role”;

Automotive News | September 26, 2008 - 12:01 am EST
 
 
NEW YORK (Reuters) — Delphi Corp. on Thursday won court approval for increased financial support from former parent General Motors after reaching agreement with its creditors on changes to the support plan.
The approval could help the auto parts company [...]

Thursday, September 25, 2008
GM expected to announce new engine plant in Flint
Associated Press
DETROIT – General Motors Corp. is expected to announce that it will build a new factory in Flint that will make four-cylinder engines for the Chevrolet Volt rechargeable electric car.
The automaker has scheduled a news conference Thursday morning, but already has said it [...]

Thursday, September 25, 2008
Lawmakers fast-track auto loans
House approves $25B with Senate expected to act today; Energy Dept. ready to write rules.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — Automakers could get billions as soon as early next year to retool factories to build more fuel-efficient vehicles after the U.S. House passed a bill Wednesday that [...]

Thursday, September 25, 2008
Cerberus pursues all of Chrysler
Automaker’s owner in talks with Daimler to buy out its stake; more options for ventures cited.
David Shepardson / The Detroit News
WASHINGTON — Daimler AG is in talks to sell its remaining stake in Chrysler LLC to majority owner Cerberus Capital Management LP, the companies confirmed Wednesday.
If the negotiations, [...]

Thursday, September 25, 2008
GM to accelerate its cost-cutting
Struggling auto maker may sell a French parts plant as it continues to reduce structural costs.
Greg Bensinger / Bloomberg News
General Motors Corp., struggling to stem more than three years of losses, said it plans to accelerate its $10 billion cost-cutting program and may sell a French parts plant.
The [...]

 
House approves $25 billion in industry loans
queryvar=”house,approves,$25,billion,in,industry,loans”;

Harry Stoffer
Automotive News | September 24, 2008 - 3:30 pm EST
 
 
WASHINGTON — Automakers and suppliers soon should be able to seek $25 billion in low-interest federal loans to retool plants to build fuel-efficient vehicles and components.
The House of Representatives today voted 370 to 58 to approve a broad [...]

Daimler may sell rest of Chrysler to Cerberus

 
Bradford Wernle
Automotive News | September 24, 2008 - 11:45 am EST
Cerberus Capital Management LP has approached Daimler AG about buying the German company’s remaining 19.9 percent stake in Chrysler Holding LLC.
Daimler and Cerberus officials both confirmed the talks this afternoon. A Cerberus spokesman said all industrial [...]

 
GM looking to sell plant in France, other assets
queryvar=”gm,looking,to,sell,plant,in,france,other,assets”;

Automotive News | September 24, 2008 - 12:00 pm EST
 
 
DETROIT (Reuters) - General Motors is looking to sell its manufacturing facilities in Strasbourg, France, and will begin seeking buyers next month when it begins a formal sale process for its Hummer SUV brand.
GM Treasurer Walter Borst detailed [...]

 
Bill Heard Enterprises closes its doors
queryvar=”bill,heard,enterprises,closes,its,doors”;

Chrissie Thompson
Automotive News | September 24, 2008 - 3:05 pm EST
 
 
Bill Heard Enterprises, the country’s top Chevrolet dealer group, is closing the doors at all of its 13 dealerships at the end of business today, according to a person with knowledge of the situation.
The company notified the stores’ general [...]

Report: Chrysler loses $400M through August 2008
queryvar=”report:,chrysler,loses,$400m,through,august,2008″;

Automotive News
September 24, 2008 - 3:00 am ET

 
DETROIT (Reuters) — U.S. automaker Chrysler on Tuesday told dealers it had lost $400 million so far this year, the Wall Street Journal said.
CEO Robert Nardelli told dealers that despite cutting costs, Chrysler was still losing money, according to two people [...]

Automotive News | September 24, 2008 - 7:00 am EST
 
 
 
HANOVER, Germany (Reuters) — Japanese truckmaker Isuzu Motors Ltd. will struggle to hit its full-year net profit target and has ruled out buying General Motors’ mid-sized trucks business, President Susumu Hosoi told Reuters.
"It will be difficult to achieve the net profit target but we will [...]

Wednesday, September 24, 2008
Manny Lopez
UAW rap on McCain cars is not productive

At some level, what sits in your driveway defines who you are, whether you want to admit it or not.
For some, it’s intentional; for others it’s a matter of circumstance. For the United Auto Workers president, it’s absolute. And that’s unfortunate.
Republican Presidential Candidate John [...]

Wednesday, September 24, 2008
Delphi gets OK to freeze pensions
Supplier will resume talks with creditors critical of deal with GM to exit bankruptcy.
David Shepardson / Detroit News Washington Bureau
NEW YORK — Delphi Corp. won permission from a bankruptcy court Tuesday to freeze its hourly and salaried pension plans, but will have to resume talks with its [...]

 
Senate OKs Volt-friendly plug-in tax credit
queryvar=”senate,oks,volt-friendly,plug-in,tax,credit”;

Harry Stoffer
Automotive News | September 23, 2008 - 6:35 pm EST
 
 
WASHINGTON — General Motors’ hopes for a $7,500 federal tax credit to help it sell plug-in hybrid Chevrolet Volts may soon be realized.
The Senate this evening passed a complex and wide-ranging tax bill, covering everything from extension of credits [...]

 
GM wins tax breaks for Mich. projects
Announcement planned for Flint project on Thursday
queryvar=”gm,wins,tax,breaks,for,mich,projects”;

Ryan Beene
Automotive News | September 23, 2008 - 12:01 am EST

 
DETROIT — The Michigan Economic Growth Authority board today granted General Motors more than $130 million in tax credits in a move to persuade the automaker to invest in the state for [...]

 
Will Uncle Sam take on bad car loans?
queryvar=”will,uncle,sam,take,on,bad,car,loans?”;

Donna Harris
and Harry Stoffer
Automotive News | September 23, 2008 - 2:45 pm EST
 
 
WASHINGTON — Should taxpayer dollars be used to buy up bad car loans?
A financial trade association says yes.
The idea arose today amid reports of behind-the-scenes maneuvering to broaden a $700 billion federal cleanup of [...]

Tuesday, September 23, 2008
GM’s shares fall on unease
Capital, liquidity worries weigh on analysts, investors; SEC blocks short sales.
Robert Snell / The Detroit News
General Motors Corp. stock dropped again Monday amid concern from investors and analysts about the company’s diminishing liquidity and lack of access to capital.
Further concern was shared about the company’s announcement late Friday [...]

 
Bill Ford sells 1 million Ford shares
queryvar=”bill,ford,sells,1,million,ford,shares”;

Chrissie Thompson
Automotive News | September 22, 2008 - 4:18 pm EST

 
DETROIT — Ford Motor Co. Executive Chairman Bill Ford sold about one-sixth of his common stock holdings last Thursday, Sept. 18, according to a Securities and Exchange Commission document.
Bill Ford, 51, sold 1 million shares, making $5.05 million [...]

 
Top CAW exec to leave in Jan.
queryvar=”top,caw,exec,to,leave,in,jan”;

Chrissie Thompson
Automotive News | September 22, 2008 - 12:28 pm EST
 
 
Hemi Mitic, assistant to the president of Canadian Auto Workers since 1992, will leave the organization in mid-January.
Mitic, 57, had hoped to become the next president of the union he has served full time since 1981. Shortly after [...]

 
Oil spikes nearly 16% on banking rescue plan
queryvar=”oil,spikes,nearly,16%,on,banking,rescue,plan”;

Automotive News | September 22, 2008 - 2:56 pm EST
 
 
LONDON (Reuters) — Oil prices today soared nearly 16 percent to over $120 a barrel — the biggest one-day gain on record — in a rally sparked by the expiry of the front-month futures contract and weakness in the [...]

 
GM seeks tax breaks for Mich. projects
queryvar=”gm,seeks,tax,breaks,for,mich,projects”;

Ryan Beene
Automotive News | September 23, 2008 - 12:01 am EST

 
DETROIT — General Motors is considering a plan to spend up to $836 million in Michigan manufacturing plants and other facilities in the state to bolster operations needed to build its Chevrolet Volt plug-in hybrid electric vehicle.
As laid [...]

Monday, September 22, 2008
GM to drop Super Bowl ads
Restructuring plan, lack of coinciding vehicle launch prompt pullout
By Robert Snell
DETROIT — General Motors Corp. will not spend any money advertising during Super Bowl XLIII in February, another belt-tightening move and marketing cutback that has seen the beleaguered automaker already scrap ads during Sunday’s Primetime Emmy Awards [...]

 
GM store count down 226 so far this year
queryvar=”gm,store,count,down,226,so,far,this,year”;

Amy Wilson
Automotive News | September 22, 2008 - 12:01 am EST

Mark LaNeve: By year end, 350 to 400 GM dealerships could be closed.

 
DETROIT — Through August, General Motors trimmed its U.S. dealership count this [...]