General Motors' Board of Directors Statement
Jun 1, 2009
Attributable to Kent Kresa, Chairman DETROIT - June 1, 2009: âThe General Motors Board of Directors authorized the filing of a chapter 11 case with regret that this path proved necessary despite the best efforts of so many. Today marks a new beginning for General Motors. A court-supervised process and transfer of ... Continue reading
Chrysler Gets Court Approval to Sell Assets to Fiat
Jun 1, 2009
AUBURN HILLS, MI - June 1, 2009: Late Sunday night a Federal bankruptcy judge finally approved Chrysler's sale of most of its assets to Fiat. The sale had faced as many as 300 objections from creditors, states' Attorneys General and pension fund groups. It's hoped that the deal with Fiat will allow Chrysler to restart ... Continue reading
President Obama to Hold Media Briefing Prior to General Motors' BK Press Conference
May 31, 2009
WASHINGTON - May 31, 2009: According to a White House media advisory, President Obama will begin his remarks at approximately 11:55 a.m. EDT. General Motors Corp. President and CEO, Fritz Henderson, will host a press conference, beginning immediately following President Obama's media briefing. ... Continue reading
AP Reports That Monday is Definitely "B-Day" for General Motors
May 31, 2009
DETROIT - May 31, 2009: The Associated Press is reporting tonight that tomorrow morning, at 8AM EDT, the company that was once the world's largest, will file for bankruptcy protection. According to the story, GM plans to name turnaround executive Al Koch to serve as its chief restructuring officer through the protectio ... Continue reading
Kelley Blue Book's Kbb.Com Names Their Top 10 Road Trip Cars of 2009
May 21, 2009
Kbb.com Editors Offer Their Top New Car Choices for Road Trips in a Variety of Categories IRVINE, Calif., May 21 -- The Top 10 Road Trip Cars of 2009, www.kbb.com/roadtripcars2009, were named today by the expert editors from Kelley Blue Book, www.kbb.com, the leading provider of new car and used car information. Memori ... Continue reading
ELECTRIFYING NEWS: Daimler Acquires Stake in Tesla - VIDEO ENHANCED
May 19, 2009
- German automaker acquires nearly 10 percent of one of the leading electric vehicle companies - Automakers agreed to cooperate in battery systems, electric drive systems and vehicle projects STUTTGART, Germany and SAN CARLOS, Calif., May 19 -- Daimler AG has acquired an equity stake of nearly 10 percent of Tesla Motor ... Continue reading
Latest Green Hybrid Engines to Battle BMW for the International Engine of the Year Title
May 11, 2009
BMW has a fight on its hands as it guns for a record-breaking fifth consecutive International Engine of the Year title. The German marque, which has scooped more trophies for engine excellence than any other company in the Awards' 11-year history, faces tough competition from over 60 new entrants to the Awards in 2009. ... Continue reading
Late Night Meeting Glitch with Lenders May Send Chrysler into Bankruptcy
Apr 30, 2009
AUBURN HILLS, MI - April 30, 2009: According to a story filed by two AP writers in the wee hours Thursday morning, a meeting on Wednesday between Chrysler and its hedge-fund lenders came to a disastrous end when the lenders insisted on a âbetter deal.â The AP story states that, âTo entice the hedge funds ... Continue reading
GM's Updated Viability Plan Speeds, Deepens Restructuring of U.S. Operations
Apr 27, 2009
DETROIT -- General Motors today presented an updated Viability Plan that will speed the reinvention of GM's U.S. operations into a leaner, more customer-focused, and more cost-competitive automaker. The Viability Plan is included in an exchange offer whereby GM is offering certain bondholders shares of GM common stock ... Continue reading
The Swiss Tuning Show 09: The Third Edition Will Be Newer and Better than Ever!
Apr 23, 2009
The third edition of the largest and wildest Tuning gathering in Switzerland will take place this year over the weekend of June 13-14, 2009 in Hall 6 of PALEXPO in Geneva. New display sections will contain an exceptional variety and provide an insight into the wide range of elements that make up the special world of au ... Continue reading
European Parliament Makes ESP Mandatory
Apr 14, 2009
The European Parliament agreed on March 10, 2009 to make ESP mandatory for all new vehicles. According to the regulation, from November 2011 all new passenger-car and commercial-vehicles models registered in the European Union will have to be equipped with the ESP active safety system. From November 2014 this will then ... Continue reading
Apr 9, 2009
AUTO CENTRAL - April 9, 2009: Yesterday, Michigan Congressman Thaddeus McCotter was interviewed by Yahoo! Finance and Henry Blodgett on the auto industry and economic situation. That video can be watched by clicking on the PLAY button in the window below. The following is Marc Rauchâs response to Congressman McCot ... Continue reading
GM Fiddles with Segway Toys While World Economy Tanks - COMPLETE VIDEO
Apr 8, 2009
EDITOR'S NOTE: Yesterday, in what may be mere hours before the momentous decision to take what was once the world's largest car maker into Chapter 11 Bankruptcy, General Motors joined with Segway Corporation to announce the development of a two-seat urban vehicle called the SMEGMA... oh, I mean the PUMA, and acroynym f ... Continue reading
Latest Edition of Cars of The World Catalog Out Now!
Apr 6, 2009
It is our pleasure to present to you the third edition of our publication. CARS OF THE WORLD is, as far as we know, the largest publication of it's kind in the world. No other printed publication contains even half of the 1400 makes and thousands of models that you will find herein. ... Continue reading
European Investment Bank Loans Underline Importance of The Automobile Industry For Europe's Economy
Mar 13, 2009
The European automobile manufacturers welcome the EUR 3 billion in loans freed today by the European Investment Bank (EIB) to finance automotive projects, most of them concerning 'green' investments. ... Continue reading
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