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According to the Detroit News yesterday, the Treasury Department increased its estimate of government losses in the $85 billion auto bailout by another $170 million.
We learned today that Government Motors has decided to invest $335 million in a fabulously successful European auto maker. Mercedes, Audi, BMW you guess? Guess again.
It is now official. Per our friends at the EPA, by the 2025 model year, a car manufacturer’s fleet (i.e., cars and light trucks) must average 54.5 miles per gallon. This is known as the CAFE standard…Corporate Average Fuel Economy. We’ll ignore for the moment that this standard is double our current standard, and focus…
In late July, with much fanfare, the administration, through the National Highway Transportation Safety Administration announced new standards for motor vehicle “fuel efficiency”. Currently, a manufacturer’s vehicle fleet must average 27.5 miles per gallon, and this has been the standard since 1990. However, by 2025, the fleet average must be 54.5 miles per gallon.
Bob King, President of the United Auto Workers, has announced a new strategy to increase members. On the “foreign” side he has decided that it is neigh onto time that Americans in this country making Nissans, or Hondas or Mercedes join the union. Never mind that all attempts to unionize these workers in the past have failed…
I really don’t like this guy. I didn’t like him when he was appointed and I like him less now. But … GM and Chrysler begged for the money, they got it, and now … well … The Obama administration will soon order the nation’s biggest bailed-out companies to drastically cut pay packages for their…
GM has unveiled at least two portions of their recovery plan, submitted to and funded by the First, the bad news… “General Motors Corp. will cut 10,000 jobs, or 14% of its salaried work force, this year as the auto maker struggles to cope with a steep drop in world-wide vehicle sales. The job cuts…