Tuesday, May 12, 2009

5/13 TechChuck Auto

Please add updates@feedmyinbox.com to your address book to make sure you receive these messages in the future.
TechChuck Auto - Auto stories from all around the web! Feed My Inbox

Tesla reports over 1,000 Model S orders
May 12, 2009 at 8:49 pm

Tesla reports over 1,000 Model S orders

Tesla Model S – Click above for high-res image gallery

Since it's official unveiling on March 26th, Tesla Motors has reportedly accepted over 1,000 orders for the Model S sedan, a fact that once again proves there are a number of consumers lining up to put electric vehicles in their driveways. Each order requires a refundable deposit of $5,000, meaning Tesla has collected at least $5,000,000 in reservation deposits.


VIDEO: World's Fastest Jet Pack vs. Ford Focus RS
May 12, 2009 at 8:38 pm

VIDEO: World's Fastest Jet Pack vs. Ford Focus RS

Click above to watch video after the jump

We're all for alternative forms of transportation here at Autoblog, and we're not just talking about hydrogen fuel cells and lithium ion batteries, either. We're talking jet packs! Eric Scott is a 46-year-old Go Fast! Jet Pack pilot from Denver who became the first jet-propelled man to cross the 1,053ft-wide Royal Gorge Canyon in his home state of Colorado last year. This past week he also became the fastest jet-propelled man alive when he was clocked going 68 mph at Knockhill Racing Circuit in Scotland. What better way to follow up a record-setting jet pack run than to drag race a Ford Focus RS? The impromptu race occurred at the circuit with BTCC champ Gordon Shedden behind the wheel of the lime green Focus RS.


The Pontiac Song Zooms Like A Rocket Up To The Moon
May 12, 2009 at 8:00 pm

The Pontiac Song Zooms Like A Rocket Up To The Moon

This song's about a young American male building excitement in his red Pontiac Trans Am. It may be the greatest song we've ever heard. Or the worst. We still can't tell. [via EricRosenfeld]


Montgomery, MD spends $1,300/hr on car sharing service
May 12, 2009 at 7:48 pm

Montgomery, MD spends $1,300/hr on car sharing service

A good number of people may think they are getting a great deal on their cell phone service until they look at how many of the 1,400 or 2,000 (or more) minutes a month from their plan they actually use. If you only use 50 minutes of a 1,400 minute plan it can work out to a steep $1.60 per minute, depending on the particular plan's cost. The moral: Whenever you buy in bulk, take care not to over-buy.


REPORT: GAZ confirms interest in Opel
May 12, 2009 at 7:45 pm

REPORT: GAZ confirms interest in Opel

Russian Prime Minister Vladimir Putin himself has said that at the behest of Magna, Russia's GAZ conglomerate is considering taking a 30% interest in Opel. GAZ, though, has made it clear that it does not want to run or own Opel – what it really seems to want is to have cars to produce at its factory in Nizhny Novgorod. Under such a proposal, Automotive News reports that Magna would take 20% of Opel.


Maserati Loves Company: Quattroporte stretched limousine
May 12, 2009 at 7:40 pm

Maserati Loves Company: Quattroporte stretched limousine

Maserati Quattroporte limousine – Click above for an image gallery

While running around from merger to acquisition, Fiat CEO Sergio Marchionne has been riding in style in a Maserati Quattroporte. And why shouldn't he? The luxurious sport-sedan is miles ahead of the Alfa Romeo 167 which Fiat executives were chauffeured around in beforehand, and better than anything Opel or Chrysler has got to show off, too. But one limousine company in Florida has what it figures is the next step up: a stretched Quattroporte with seating for ten.


Daily U-Turn: What you missed on 5.12.09
May 12, 2009 at 7:31 pm

Daily U-Turn: What you missed on 5.12.09 Top 10 Forgotten Hatchbacks

The annals of automobile history are littered with the occasional hatchback success story, but for every Volkswagen Golf or Toyota Prius, there are dozens of failed three- and five-doors that fizzled out shortly after hitting the American market. We pick the top ten.


Spy Shots: Maserati GranTurismo drophead spotted
May 12, 2009 at 6:47 pm

Spy Shots: Maserati GranTurismo drophead spotted

The Maserati Granturismo Cabriolet, a formerly mythical car known only in whispers and press reports, has finally been caught testing by Ms. Brenda Priddy and crew.

The drophead's powerplant and transmission are suspected to be the 433 hp V8 from the Granturismo S mated to the six-speed automatic from the Quattroporte GTS.


Gruber Assist auxiliary drive turns nearly any bicycle into an ebike
May 12, 2009 at 6:40 pm

Gruber Assist auxiliary drive turns nearly any bicycle into an ebike

Bicycles can be a great way to reduce fuel consumption. They are efficient, relatively inexpensive, easy to store and care for and are often a fun way to score a little exercise while also getting you where you need to go. Of course, it's not always practical to pedal, which is one big reason that electric bikes are gaining in popularity so quickly.


Carlos Ghosn vows he won't depart Nissan until it returns to profitability?
May 12, 2009 at 6:38 pm

Carlos Ghosn vows he won't depart Nissan until it returns to profitability?

Carlos Ghosn became Nissan's chief operating officer in 1999, initially declared that he would remain in the job for a maximum of ten years. At the time, Nissan had $13 billion in debt, a history of losses, and an almost completely forgettable product lineup. Now, on the eve of his ten-year anniversary and after a success story that few expected, Ghosn says he won't step down until Nissan is clearly profitable again.


REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?!
May 12, 2009 at 6:36 pm

REPORT: Visteon books $2M profit. Delphi makes $556M. Wait... wha?!

When is a profit not a profit? When it's the result of bankruptcy prevention measures, like Visteon's report of a $2 million profit during the first quarter of 2009. The auto supplier is reporting that each share earned two cents during the period, compared to a $105 million loss last year. The company's books saw a gain after sending its British operations into Chapter 11, an occurrence that will not be repeated. The one-time nature of the accounting measures doesn't bode well for the next three months, but Visteon also points out that its sales force has been able to secure $240 million of new work between January and March. Despite the new business, Visteon's full-year outlook isn't so rosy, and will likely be down again for 2009.


Chrysler, Fiat planning to avoid cap on exec pay
May 12, 2009 at 6:33 pm

Chrysler, Fiat planning to avoid cap on exec pay

The new Chrysler-Fiat partnership will get around U.S. restrictions on executive pay by having its top officers deemed Fiat employees.

Meanwhile, Chrysler continues trying to reach its goal of reducing 3,500 more autoworkers through buyouts.

The details were disclosed in documents that Chrysler filed today as part of its bankruptcy case.


Driven: 2010 Ford Mustang V-6
May 12, 2009 at 6:15 pm

Driven: 2010 Ford Mustang V-6

2010 Ford Mustang V6

If you were to look at all the Mustangs sold over the 45 years the pony has been galloping around, you'd notice two things; most articles are written about V-8 Mustangs, while most purchasers go for fewer cylinders. This is the reality; the market gets excited about performance and style, but then buys with their wallet.


Spy Shots: 2011 Aston Martin V12 Vantage
May 12, 2009 at 6:01 pm

Spy Shots: 2011 Aston Martin V12 Vantage

2011 Aston Martin V12 Vantage

Yesterday we showed you the photo excerpts from our recent test drive of the Aston Martin Vantage. The V-8 version of the car's pretty thrilling--but there's more to come from the British marque in short order, even as it launches its One-77 supercar and the upcoming Aston Rapide four-door.


Choose Your Seven Slot Truck: Jeep J8 Or Hummer H3T?
May 12, 2009 at 6:00 pm

Choose Your Seven Slot Truck: Jeep J8 Or Hummer H3T?

Which would you rather own — the AEV J8 Jeep-Truck or the Hummer H3T? Browse our down-n-dirty gallery of the two together to help you decide.


Electric Entertainment: Sarah Spiegel records Chevy Volt Jingle
May 12, 2009 at 4:07 pm

Electric Entertainment: Sarah Spiegel records Chevy Volt Jingle

Singer, songwriter and actress Sarah Spiegel, who apparently worked as a national spokesperson for General Motors last summer, has taken the time amidst all the doom and gloom surrounding America's largest automaker to write and record what could best be described as either a very short song or oddly long jingle for Chevy's upcoming Volt extended-range electric vehicle.


GM recalls Camaro, Traverse, SUVs/pickups for various issues
May 12, 2009 at 3:56 pm

GM recalls Camaro, Traverse, SUVs/pickups for various issues

General Motors and the National Highway Traffic Safety Administration have announced a suite of recalls for the Chevrolet Camaro, Traverse and various body-on-frame SUVs and pickups (Cadillac's Escalade, Chevrolet's Avalanche, Colorado, Suburban and Tahoe, along with GMC's Canyon and Yukon).

The Camaro recall has been discussed before, but now we have the official language and affected unit numbers to share with you. The recall of 1,243 Camaros is due to the possibility of the positive battery cable rubbing against the starter motor housing. When the insulation is worn through because of that chafing, the system can short out and the car won't start (or continue running if the motor is already going). Dealers will reroute the positive cable to fix.


China's Hautai reportedly readying Bentley Continental knockoff
May 12, 2009 at 3:40 pm

China's Hautai reportedly readying Bentley Continental knockoff

Huatai Concept - Click above for a gallery

Hot on the heels of Geely's "this is not a Rolls-Royce Phantom" GE, Chinese automaker Hautai is apparently busy working on its own new luxury vehicle, one that would appear to borrow liberally from the Bentley Boys. Huatai Automobile Group, based in Beijing, specializes in SUVs, so this model would represent something of a marked departure for them. HAG reportedly has the capacity to build 200,000 vehicles annually, and they have R&D centers in China, South Korea, and Germany. Last month, the private automaker reported sales up nearly 150 percent from last year.


With GM Cutting Cars, Is Corvette Next?
May 12, 2009 at 3:24 pm

With GM Cutting Cars, Is Corvette Next?

 2009 Chevrolet Corvette

Here's an easy way to set off a firestorm ... get people frightened that GM is going to kill the Corvette. We're not doing that here, but rumors persist.

The reality is that the Corvette is one of GM's most valuable brands, and that the car isn't going out of production, regardless of whether Nancy Pelosi thinks the Corvette is worth of life or not. According to GM CEO Fritz Henderson, the Corvette also makes money. In a recent public web cast, Henderson reiterated a phrase GM has used recently in defending the Corvette's business case against potential attention from Treasury Department pencil-pushers, insisting the low-volume two-seater "pays the rent in terms of profitability and cash flow."


Ford Engineers Strap Giant Water Cannon To Volvo
May 12, 2009 at 3:20 pm

Ford Engineers Strap Giant Water Cannon To Volvo

Ford engineers have rigged a giant to test effects of a side-impact crash without the crash. Better news? Ben's trying out this Carpocalypse-level technology as we speak. More below.

Using a Martin Engineering Hurricane Cannon, the test driver can pilot the car as normal and, with the push of a button, simulate the force of a car striking the back of the car. They then take the test data back, plug it into the computer, and devise new ways to tweak the stability control. Blah, blah blah.


Sneak Peek: A look at the new Metro Buddy
May 12, 2009 at 3:16 pm

Sneak Peek: A look at the new Metro Buddy

Click on the Metro Buddy for a hi-res gallery

Though the Metro Buddy isn't due to be officially unveiled until tomorrow at EVS-24, the Norwegian Minister of Transportation, Liv Signe Narvasete, visited the little electric car maker's factory and got a sneak preview. The folks from ElectricAid were also on hand and shot a little video, which we can now share with you. While it keeps the same basic form as the original Kewet Buddy, There are some changes that are more than skin deep. For example, buyers of the new version will be able to store electricity in lead-acid, nickel metal halide (NiMH) or lithium batteries giving this wedge of Jarlsburg a range of 50 to 75 miles (80 to 120 kilometers).


Tracking Down Auto Warranty Callers
May 12, 2009 at 3:12 pm

On Sunday, Senator Charles E. Schumer held a news conference to complain about car warranty telemarketing calls.

Mr. Schumer said he had received several of these warranty renewal robo calls - the latest taking place last Wednesday.

"I've had enough," Mr. Schumer said. "These are scam artists."

Mr. Schumer is not alone. Consumers across the country are flooding Web sites with complaints about these calls and are looking for ways to stop them. Officials in 40 states are investigating the companies behind the calls, and the Better Business Bureau said it received more than 140,000 complaints about the car-warranty calls last year.


VIDEO: Audi drives R8 straight into the heart of Ferrari country
May 12, 2009 at 3:09 pm

VIDEO: Audi drives R8 straight into the heart of Ferrari country

to watch the commercial of an R8 V10 cruising through Maranello

The residents of Maranello used to the sight of rakish red two-door sheetmetal roaring under the impulse of several hundred horsepower – and they still do. Except when that metal hides a ten-cylinder engine and wears four rings on its hood. In this Audi commercial depicting an R8 V10 on a slow cruise through Ferrari country, the locals are shown to have a decidedly different reaction upon realizing that the German barbarians are no longer content to hang out at the town gates.


Shelby on Steroids: The Daytona Coupe Le Mans Edition
May 12, 2009 at 3:07 pm

Shelby on Steroids: The Daytona Coupe Le Mans Edition

Shelby Daytona Coupe Le Mans Edition – Click above for high-res image gallery

The Shelby Daytona Coupe is without a doubt one of the greatest cars in American motorsports history. With an aerodynamic body designed by Peter Brock good for 187 mph, Carroll's Ferrari-slayer dominated the 1965 race season on its way to win the FIA GT World Championship - the first and only American car to achieve the feat. While getting your hands on one of the original six racecars will cost a pretty penny, there is a much more affordable solution.


Spy Shots: Is this the next-generation Ford Ranger? And if so, will we get it?
May 12, 2009 at 3:04 pm

Spy Shots: Is this the next-generation Ford Ranger? And if so, will we get it?

Ford's recent strategy of combining all of its vehicles from around the world on a single set of platforms may finally bring a new Ranger small pickup truck to the United States once the current model loses its long-running lease on life after the 2011 model year. Spy shooters from the other side of the world have snapped off a series of photos of Ford engineers out testing what appears to be the Blue Oval's next-gen small truck platform in both right- and left-hand-drive configurations.


Jaw-Dropping Stop Motion Vintage Japanese Toy Car Chase
May 12, 2009 at 2:30 pm

Jaw-Dropping Stop Motion Vintage Japanese Toy Car Chase

Leave it to the Japanese to create car animation with such incredible attention to detail.

Yes, as we’re in Japan, the land of cute names and incredible attention to minutiae. YouTube user Luxe37 has created this series of car chase videos set in the 70s, of which we present Episode VI. They are made using Tomica toy cars and what we assume is thousands upon thousands of man-hours.


Will GM consider moving its headquarters out of Detroit?
May 12, 2009 at 2:12 pm

Will GM consider moving its headquarters out of Detroit?

Yesterday's media question-and-answer session with General Motors' CEO Fritz Henderson didn't reveal much in the way of actual news, but at least one question raised a few eyebrows: "Is GM considering moving its corporate headquarters?"

While that's an unlikely scenario, Henderson stopped short of denying the possibility, saying: We're looking at, frankly, everything within our business, but it's not like we have that queued up at the top of our list." Henderson also admitted: "We don't have any such plan... but if we did it would be motivated by business rationale, which would be cost, efficiency and speed."


37,000+ Dodge Ram pickups recalled over... faulty HVAC software?!
May 12, 2009 at 2:12 pm

37,000+ Dodge Ram pickups recalled over... faulty HVAC software?!

Dodge is recalling 37,407 Ram pickups from the 2009 model year to repair faulty software that controls the manual temperature controls (not the digital dual-zone temp controller).

According to the National Highway Traffic Safety Administration, the system's faulty programming can render defrosting and defogging functions inoperable, which could impinge upon visibility and lead to a crash. The recall begins next month and dealers will reprogram the module at no cost.


Currie and A2B electric bikes to be sold at Best Buy
May 12, 2009 at 2:03 pm

Currie and A2B electric bikes to be sold at Best Buy

Ultra Motor A2B electric bicycle - Click above to enlarge

Last week, it was revealed that Best Buy had plans to sell a range of electric-powered personal transportation products in addition to the Brammo Enertia, though were were still a bit unclear as to what that statement actually meant. As pointed out by a few of our readers living in California, the Big Box Retailer is already selling the Segway in a few of its stores, but what else?


REPORT: VW logs 13,000 orders for new Polo ahead of launch
May 12, 2009 at 2:01 pm

REPORT: VW logs 13,000 orders for new Polo ahead of launch

2010 Volkswagen Polo: Click above for a high res-gallery

The new Volkswagen Polo is all-new for 2010, and early returns show plenty of interest in the little European hatchback. VW is reporting 13,000 pre-orders for the B-segment five-door; news that is sure to have executives at the German automaker doing their best Mazda3 impression. The Polo has been in production since March, but it won't officially hit showroom floors until June.


Mercedes to debut new fuel cell bus at public transport conference in June
May 12, 2009 at 10:34 am

Mercedes to debut new fuel cell bus at public transport conference in June

Despite the Obama administration gutting funding for hydrogen and fuel cells, Daimler is not yet ready to quit the game. Next month at the UITP Congress in Vienna (the World Congress of the International Association of Public Transport) Mercedes-Benz will debut its next generation Citaro FuelCELL hybrid bus. Daimler has been working on fuel cell buses since 1997 and the new buses will be deployed into test fleets across Europe beginning this fall.


Ford recalling nearly 9,000 F-150 pickups over faulty brake lamps
May 12, 2009 at 9:46 am

Ford recalling nearly 9,000 F-150 pickups over faulty brake lamps

2009 Ford F-150 - Click above for a high-res image gallery

A total of 8,735 2009 Ford F-150 pickups are being recalled for stop lamps that may not illuminate during very mild brake pedal applications. According to the National Highway Traffic Safety Administration, the culprit is a "brake stop lamp switch" that is improperly adjusted. Although the recall campaign does not mention any injuries as a result of the vehicle defect, the delayed brake lamps may increase the risk of an accident so owners are asked to bring their trucks in for repair.


EVS-24 Viking Rally rolls out with royalty and race car drivers
May 12, 2009 at 9:42 am

EVS-24 Viking Rally rolls out with royalty and race car drivers

Henning Solberg and Leilani Münter, photo courtesy of ZERO

The 24th edition of the Electric Vehicle Symposium (EVS) kicks off in a couple of days in Stavanger, Norway, and to get things rolling, so to speak, over 30 teams are competing in the EVS Viking Rally. The vehicles involved are a diverse mix of hydrogen-powered and all-electrics that include both H2 and PHEV Priuses, Th!nk Citys, Tesla Roadsters and a Lampo from Protoscar, among others. At least 8 countries are being represented by teams whose drivers are every bit as eclectic as the cars and count the Crown Prince Haakon of Norway and race car drivers Leilani Münter and Henning Solberg among their number.


Spy Shots: BMW 5-Series GT
May 12, 2009 at 9:41 am

Spy Shots: BMW 5-Series GT

A couple of near-production 5-Series GTs have been caught on BMW's home turf and to our eyes they don't hurt the car, but they don't make a case for it either. The last time we were in this situation -- hoping a car's production version would be a huge improvement over it's pre-production form -- was with the Porsche Panamera, and we know how that ended. While we're certain that this Progressive Activity Sedan has some purpose, we wonder where are all these potential buyers demanding a little more cargo room than a 5 sedan, a little less than a wagon, and one less seat. Check out more photos by clicking the image above.


REPORT: Execs including Bob Lutz, Troy Clarke dump GM stock
May 12, 2009 at 9:35 am

REPORT: Execs including Bob Lutz, Troy Clarke dump GM stock

As General Motors teeters on the brink of bankruptcy, several major executives have just taken advantage of an opportunity to sell their stock shares just after the company's quarterly earnings report came out in May. Among them, Bob Lutz, Troy Clarke, Thomas Stephens and several others decided that it was better to cash out and get something, no matter how paltry.


Driven: 2009 Chevrolet Silverado Hybrid
May 12, 2009 at 9:02 am

Driven: 2009 Chevrolet Silverado Hybrid

2009 Chevrolet Silverado Hybrid

In TheCarConnection.com's Bottom Line review of the 2009 Chevrolet Silverado Hybrid, Rex Roy points out that the Hybrid is nearly as capable as its gasoline-only counterparts, able to tow a powerboat (up to 6,100 pounds).

Though we didn't have anything to tow, testing the Silverado Hybrid's hauling ability seemed like the natural thing to do. In just the course of a few days, we'd hauled furniture. For one short stretch we had five adults aboard plus and a band's worth of equipment, including a heavy bass cabinet and PA. The gasoline engine came on earlier and more frequently when loaded down, but the hybrid drive system didn't flinch and the brakes remained just as confident.


Henderson: Buyer for Opel picked by end of month
May 12, 2009 at 8:48 am

Henderson: Buyer for Opel picked by end of month

The Opel brand may be churning out some solid-looking products of late, but the European brand isn't long for the GM world. That isn't news, but the fact that a buyer will be chosen before the end of May is. GM CEO Fritz Henderson promised the quick turnaround of Opel during a Monday news conference, saying "several bidders" are interested in the brand.


Corsa Motorsports to debut hybrid LMP1 car at Utah ALMS race
May 12, 2009 at 8:45 am

Corsa Motorsports to debut hybrid LMP1 car at Utah ALMS race

After months of delays, Corsa Motorsports is finally ready to hit the track with its new hybrid LMP1 race car. The hybrid race program was originally announced last summer at the Detroit Grand Prix and was set to debut at the Petit Le Mans in October. Unfortunately, development didn't proceed as quickly as hoped with the fall and winter passing by as the car was made ready for competition.


Ford to offer 300 million shares of common stock
May 12, 2009 at 8:42 am

Ford to offer 300 million shares of common stock

Right now, cash is king in the automotive world, and Ford Motor Company is looking to raise some serious greenbacks with 300 million shares of common stock. The money will be used to fund automotive operations, with a portion of the payments Ford is required to make to the Voluntary Employee Beneficiary Association (VEBA) retiree health care fund with the UAW.


Canadian E5 mandate to move ahead despite concerns
May 12, 2009 at 8:34 am

Canadian E5 mandate to move ahead despite concerns

Despite growing concerns that the widespread production and use of corn ethanol is actually counter-productive to reducing greenhouse gas emissions, the Canadian government is moving ahead with a mandate to require ethanol blending into all gasoline supplies. By September 2010, Canadian refiners will be required to have at least 5-percent ethanol content in all pump gas. The regulation has received cabinet approval, and if it proceeds, would require nearly half a billion gallons of ethanol annually for blending.


Nissan reports first annual loss in a decade
May 12, 2009 at 8:05 am

TOKYO - Nissan Motor Co., Japan's No. 3 automaker, reported a $2.4 billion (233.7 billion yen) annual net loss, its first yearly loss in a decade — but expects the red ink to lessen in the current fiscal year.

"We are beginning to see some signs of improved access to credit, the impact of government stimulus packages and a gradual return in consumer confidence," said Chief Executive Carlos Ghosn, while remaining cautious about the future.


Link Love From The Car Connection: MINI Es Arrive, Beetle Up For Bid, And Making Your Car Look Like A Golf Ball Won't Help
May 12, 2009 at 7:59 am

Link Love From The Car Connection: MINI Es Arrive, Beetle Up For Bid, And Making Your Car Look Like A Golf Ball Won't Help

1965 VW Beetle with suicide door

PAL-V rendering

Love/hate -- Around the TCC offices, car lust is common. (As it should be.) But never has a vehicle inspired such mixed emotions as the VW Beetle you see to your left, which has been tricked out with a suicide door on the passenger side that's either awesome or atrocious, depending on your point of view. Someone better buy it soon, before a schism breaks out. [eBay via Carscoop]


Toyota May Speed Up Hydrogen Car
May 12, 2009 at 7:30 am

Toyota said in January that it would commercialize a fuel-cell car by 2015, but the dollars-and-cents imperatives of California's Zero Emission Vehicle (ZEV) mandate may move that timetable up to late 2014.

John Hanson, a Toyota spokesman, was asked about the company's plans in light of the Department of Energy's proposed elimination of funds for hydrogen fuel-cell motor vehicles. "Toyota is planning to go ahead with its program in certain world markets by 2015, if not sooner," he said. It was the "if not sooner" that caught our attention.


Chevy Volt Jingle
May 12, 2009 at 6:38 am

Chevy Volt Jingle

Singer/Songwriter Sarah Spiegel (shown above) wrote me to hear a Chevy Volt jingle she produced. Sarah was a national spokesperson for General Motors last summer and is currently recording a CD and writing jingles.

She says some GM execs have heard this.

You can hear it by playing the audio file at the bottom of the post.


Fouts touts Warren for GM; move not ruled out
May 12, 2009 at 2:59 am

General Motors Corp. on Monday wouldn't rule out moving its headquarters from downtown Detroit -- a relocation that would devastate the already-beleaguered city, where unemployment is more than 20%.

Chief Executive Officer Fritz Henderson stressed during a conference call Monday that he has no immediate plan to move the automaker from its location in the Renaissance Center, the 73-story landmark on the riverfront that dominates the downtown skyline.


TOM WALSH: GM likely to keep HQ in Detroit
May 12, 2009 at 2:34 am

"Is GM considering moving its corporate headquarters?"

That first question kicked off General Motors CEO Fritz Henderson's news conference Monday with a bang.

Could beaten-down Detroit possibly hear any worse news? Could newly elected Mayor Dave Bing get a ruder welcome to office?

Not only is the city's lone remaining auto company semi-nationalized and facing probable bankruptcy in a few weeks, but now there's talk of it leaving the Renaissance Center?


Utilities ask for Chrysler deposits
May 12, 2009 at 12:56 am

A group of utilities, including DTE Energy, MichCon and Commonwealth Edison, is asking U.S. Bankruptcy Judge Arthur Gonzalez to require Chrysler to post more than $25 million in deposits to assure the automaker will pay past-due and future bills as it reorganizes.

Last week, Chrysler attorneys asked the court to restrain the company's utilities from terminating service if it established a $6-million escrow account. Chrysler said in a court filing that its average monthly utility charges, assuming it emerges from bankruptcy in about 60 days, would be about $16.1 million.

 

This email was sent to xfeedr@gmail.comCreate Your Account
Don't want to receive this feed any longer? Unsubscribe here.

No comments:

Post a Comment