Category Archives: economy

Fuel Economy Regulations Risk Huge Job Losses, While Increasing Environmental Damage, CAR Study Predicts

This comes as the U.S. national unemployment rate hovers at an official 9.8%, which is an understated number since it doesn’t include under-employed, forced retirees or beaten down job seekers who are the victims of Republican ‘socialism and tax cuts for the rich’ policies.  Continue reading

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AFL-CIO Rejects Korean FTA. New Trade Policy Called For

The proposed Korean Free Trade Agreement (FTA) with the U.S. should be rejected by the Congress because its investment and government procurement provisions will encourage “offshoring,” according to AFL-CIO President Richard Trumka. His statement came after the Detroit Three auto companies … Continue reading

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Hybrid Vehicle Sales Slump! EV Demand Overhyped?

Data continue to show that widely publicized green vehicles, notably hybrid vehicles whose sales are in a slump, and electric vehicles just now starting sales are losing popularity among potential buyers. The latest evidence of a hybrid sales slump comes from CNW Research in a report that suggests consumers are increasingly less willing to spend additional money for a hybrid than a conventional gasoline car or truck of the same size and use. Continue reading

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Korean Free Trade Agreement gets UAW, Ford Support

Two of the biggest automotive opponents of the controversial Korean Free Trade Agreement – the Ford Motor Company and the UAW – have reversed their opposing positions following modifications late last week that keeps tariffs on Korean auto exports to the U.S. while eliminating them on U.S. automotive exports.
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General Motors Sets November Sales Record in China

General Motors China and its Chinese-government mandated joint ventures reached a new November sales record in China, growing 11.2% to 196,990 units. GM also set double digit increase in its smaller U.S. home market as sales rose 21%. GM is … Continue reading

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U.S. Unemployment Rises to 9.8% in November

As the lame duck U.S. Congress bickers along partisan lines, unemployment rose to 9.8% in November. Continue reading

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U.S. Taxpayers Get $13.5 Billion from GM IPO. Still Own 33%

The U.S. Department of the Treasury said today it received $1.8 billion in additional net payments from General Motors’ initial public offering (IPO), bringing overall net proceeds for taxpayers from the GM IPO to $13.5 billion. Continue reading

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A Modest U.S. Auto Sales Recovery as Retail SAAR is above 10 Million Vehicles for Second Straight Month

Christmas is coming a little earlier this year for automakers as retail auto sales in the U.S. by SAAR, or the seasonally adjusted selling rate, rose above 10 million vehicles for the second straight month. If you include auto fleet … Continue reading

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Toyota U.S. Sales Slump Continues in November

Toyota Motor Sales (TMS), U.S.A. today reported November sales of 129,317 units, a decrease of 7.3% from the same period last year on a daily selling rate basis. On a raw volume basis, unadjusted for 24 selling days in November … Continue reading

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Chrysler Group November 2010 U.S. Sales Up 17%

Chrysler Group today reported U.S. sales of 74,152, a 17% increase compared with sales in November 2009 (63,560 units). Year-to-date the Group is at 984,509 units, of which 714,566 are trucks. November represents the eighth consecutive month of year-over-year sales … Continue reading

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General Motors Sales Increase 21% in November

General Motors reported 168,704 total sales in November, a 21% increase from the prior year. GM says it is now on track to gain market share for the year. If the forecast holds true, it would be the first time … Continue reading

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GM Will Repay $1.0 Billion of Korean Debt

General Motors Company today announced that its GM Daewoo Auto & Technology, Inc. subsidiary will fully repay its Korean revolving credit line by December 8. GM owns 70% of the automaker, which it – ironically –  acquired when the parent … Continue reading

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November U.S. Auto Sales Trending Upward

November new-vehicle retail sales continue to track at a relatively good selling pace as the month closes. The retail annual selling rate is predicted to come in at 10 million units for the second straight month, according to J.D. Power and … Continue reading

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Chevy Camaro Convertible, Buick Regal Added at GM Oshawa

The Oshawa Assembly Plant in Canada today added 700 employees for a new second shift on a flexible assembly line as General Motors takes the final steps for upcoming 2011 launches of Chevrolet Camaro Convertible and Buick Regal models. Camaro … Continue reading

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General Motors Underwriters Take Maximum Number of Shares in IPO

What this really means is U.S. taxpayers now own about 33% of General Motors, down from the U.S. Treasury’s ownership of GM’s outstanding shares of common stock of 61% before the IPO. Continue reading

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