Tag Archives: autoinformed

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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Driving the Cadillac CTS-V Coupe

It’s surprising when the president of an auto company appears at a race track to drive a car he actually worked on as an engineer. It’s embarrassing, though, when he’s as fast, well frankly faster, than any hot shoe out there. Continue reading

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Atlanta Airport TSA Employee Handcuffs, Rapes Woman

A Transportation Security Administration (TSA) employee at Atlanta’s Hartsfield-Jackson International airport handcuffed a woman, sexually assaulted her and then committed suicide. TSA is rapidly becoming, arguably, the most effective but inadvertent promoter of “automobility” in the bloated agencies of  all U.S. federal and state governments. Continue reading

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Kia Recalling Alabama Built Sorento SUVs for Bad Brakes

Kia is recalling all 2011 Sorento models built at a Kia plant in Alabama because defective rear brake calipers can leak and diminish braking performance. Drivers of the affected 2011 Sorento models should see a brake warning light come on and feel a soft pedal if the Sorento’s brakes are leaking. Continue reading

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Chevy Volt has MPGe Rating of 93, 37 MPG Combined

The Manufacturer’s Suggested Retail Price of the Volt starts at $41,000, including a destination freight charge of $720, or $33,500 if the buyer qualifies for the full federal income tax credit that ranges from $0 to $7,500.

This is roughly $8,000 more than the Nissan Leaf EV, which has a similar rollout plan for the U.S. starting in December, and also qualifies for lavish taxpayer subsidies. How long these remaining place in deficit ridden Washington is an open question. Both cars can be leased for $350/month.

So here the arguments will begin. The four-passenger Volt is a fully developed car without any range anxiety. The Leaf is a full electric with green bragging rights.

How many customers there are for both, remains to be seen? Continue reading

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Ford Reduces Debt With Successful Conversion Offers

Ford Motor Company (NYSE: F) announced today the results of conversion offers of bonds for stock that will reduce the company’s Automotive debt by more than $1.9 billion, lowering annualized interest costs by about $180 million. “These successful conversion offers represent another significant step toward our goal of reducing our Automotive debt and improving our balance sheet,” said Lewis Booth, Ford executive vice president and chief financial officer.

However, Ford is still listed as below investment grade by the rating agencies such as Moody’s Investors Service (Ba2) and Standard & Poor’s B+. Both junk ratings raise borrowing costs and limit large funds from buying Ford bonds. Ford lost its investment grade rating in 2005. Continue reading

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Drive Safely, Use Belts Over the Thanksgiving Holiday

New research that shows that states that strengthen belt laws and increase fines for unbuckled motorists see substantially increased seat belt use. Continue reading

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Bailout Blessing! GM Saves 184 Jobs in Three Plants

General Motors has just announced a $163.2-million investment in its operations in Flint and Bay City, Michigan, and Defiance, Ohio, to support engine production for the Chevrolet Volt, Chevrolet Cruze and a new Chevrolet small car to be built in the United States. The investment will protect 184 jobs at the three sites. Continue reading

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Chevy, GMC Recall Compact Pickups for Tether Anchor

Chevrolet and GMC recall 192,676 Chevrolet Colorado and GMC Canyon regular cab and extended cab pickup trucks from the 2004-2011 model years and 2007-2008 Isuzu i280 and i370 vehicles equipped with a front 60/40 split bench seat. Continue reading

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Use Your Safety Belt, Please

The National Safety Council estimates 441 people will die and 42,700 will be seriously injured in U.S. traffic crashes during the 2010 Thanksgiving holiday period, from 6 p.m. Nov. 24 to midnight Nov. 28.

However, NSC estimates that as many as 336 people will be saved because they used their safety belts, and an additional 115 lives would be saved if everybody buckled up during the Thanksgiving holiday. Continue reading

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Thanksgiving Auto Travel Up, but 30% below 2005 Peak

AAA projects the number of Americans traveling for the Thanksgiving holiday will increase 11.4 percent from 2009, with approximately 42.2 million travelers taking a trip at least 50 miles away from home. Continue reading

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EPA Says Nissan LEAF Gets 106 MPGe

The U.S. Environmental Protection Agency (EPA) has approved the fuel-economy label of the Nissan LEAF electric vehicle, claiming that the five-passenger car is best-in-class with a miles per gallon equivalent (MPGe) of 106 city, 92 highway or a combined 99 MPGe. Continue reading

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Book Review: Feeding Frenzy at Ford, Firestone

This is a cautionary tale about how two old-line industrial companies were caught out in a global media crisis that badly tarnished the reputations of both. By the time that trial lawyers, politicians and the media moved on to other … Continue reading

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Ex Car Czar Settles with SEC; Sued for Bribery by New York

As General Motors stock successfully returned to public trading yesterday, Steven Rattner, 58, the Obama Administrations’ former “car czar,” was sued by New York’s Attorney General for using bribes to secure $150 million in investments for his former firm, the Quadrangle … Continue reading

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GM Stock Price Soars on IPO Frenzy

My how quickly public perceptions change. General Motors, the ailing symbol of demonstrably bad senior management and worse union labor practices, is now the darling of Wall Street as it returns to public trading today in New York and Toronto under the ticker symbol “GM.” Continue reading

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