Posted in Automotive, Financing, GM on Jun 3rd, 2008
GM announced today that it is closing four truck and SUV plants in the U.S., Canada and Mexico as soaring fuel prices shift production to smaller, more fuel-efficient vehicles. CEO Rick Wagoner said Tuesday before the automaker’s annual meeting in Delaware the plants that will close are in Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and […]
Posted in Automotive, GM on May 30th, 2008
GM announced yesterday that more than a quarter of its hourly workers are expected to leave by July due to buyout and retirement offers, reports USA Today. Those taking the buyout and retirement deals amount to 19,000 of the 73,000 hourly workers at GM. GM is one of the many automakers trying to cut costs […]
Posted in Automotive, GM, strike on May 23rd, 2008
United Auto Workers Local 235 voters approved the tentative deal with American Axle Thursday night, ending the three-month strike that has crippled General Motors’ production, reports the Detroit News. Both the national contract and all local contracts have been approved by a vote of 78 percent of workers. More than 1,500 of about 1,900 workers […]
Posted in Automotive, Financing, GM on May 9th, 2008
GM is in the news twice today and both reasons have to do with money. On Thursday, GM said it will pay up to $200 million to help end the 10-week-old strike at American Axle & Manufacturing Inc. GM wants to help the Detroit-based parts supplier pay for employee buyouts, early retirements and incentives to […]
Posted in Automotive, Chevrolet, Electric cars, Future Cars, GM on May 7th, 2008
This recent article appeared in Autonews24h.com. It talks about how Washington D.C. area drivers are pushing for electric vehicles. Well actually they are fuel-cell vehicles, but you will understand once you read on. The project will be aptly named Project Driveway. It is proof that consumers really want this technology, and they want it now! […]
Posted in Automotive, Chevrolet, GM, strike on May 5th, 2008
At 10 a.m. this morning, members of UAW Local 31 in Kansas City, Kansas walked out at GM’s Fairfax assembly plant. The plant manufactures the extremely popular Chevrolet Malibu sedan. Automotive News reports that the strike is a result of GM failing to reach a local operating contract with the union. Analysts are saying that […]
Posted in Automotive, Chrysler, Financing, Ford, Gas Prices, GM, Honda, Nissan, SUV, Toyota, Trucks on May 2nd, 2008
Throughout the month of April, consumers traded in their gas-sucking SUV’s and trucks for smaller, more fuel-efficient cars. Even with a slow economy, there’s no surprise that we’re seeing this trend of people who are buying smaller vehicles that cost less to fill up the tank. Toyota, Nissan and Honda, all popular manufacturers of smaller, […]
Posted in alternative fuel, Automotive, GM on May 1st, 2008
GM announced today it has formed a partnership and taken an ownership stake in Boston-based Mascoma, a renewable energy company that is trying to develop cellulosic ethanol from wood chips, waste paper sludge and switch grass, reports USA Today. Waste paper sludge? Do I even want to know what that is? I asked our staff […]
Posted in Automotive, Financing, GM on Apr 30th, 2008
The Detroit News reports today that GM has lost $3.3 billion in the first quarter of 2008. This is huge, compared to GM’s net loss of $42 million in the first quarter of 2007. Why such a huge loss? The strike at parts maker and supplier American Axle and Manufacturing, a weak U.S. market and […]
Posted in Automotive, Gas Prices, GM, SUV, Trucks on Apr 29th, 2008
Slow SUV and pickup truck sales have forced General Motors to eliminate one shift each at four of their North American factories. As a result, about 3,500 GM workers will be laid-off. GM said Monday that the cuts were brought on by weak demand due to high gas prices and an economic downturn. The lay-offs […]
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