Sunday, June 7, 2009

6/8 TechChuck Auto

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VIDEO: First TTGXP practice run XXL Racing
June 7, 2009 at 7:22 pm

VIDEO: First TTGXP practice run XXL Racing

The first ever TTXGP is now just a few days away and teams are still arriving to the Isle of Man for the event. One group that arrived earlier than most is XXL Racing from Germany, and as a result, their rider was the first to "stretch the legs" of a competing machine on the island. A resident of the Crown dependency, Frank Schuengel, happened to be on hand with a camera and recorded the moment on video. He also took a bunch of stills that are available in the gallery below. You can check out his website for lots more.

  • VIDEO: Loremo takes to the streets, with sound
    Loremo electric car - Click above to watch the video after the break It wasn't long ago that we first saw the first prototype from Germany startup automaker and Auto X-Prize hopeful Loremo move under its own power on video.
  • Motoczysz releases pics of completed E1pc electric superbike
    Motoczysz E1pc - Click above for an image gallery Finally, speculation on the appearance of the Motoczysz E1pc can end as the fledgling American motorcycle maker has released...
  • Review: 2009 Lexus IS F pursues perfection, might need more personality
    2009 Lexus IS F – Click above for high-res gallery The Lexus IS F is the sole Japanese contender in a crowd of compact high-performance sport sedans. Boasting a full complement of performance upgrades, including a 5.
  • Auto Union D-Type Silver Arrow back on the auction block at Bonhams in August
    Auto Union D-Type Silver Arrow – Click above for a high-res image gallery The history of the notorious Silver Arrow racers parallels that of the nation which bore its birth.
More stories ...

Targeted Chrysler dealers in a race to the end
June 7, 2009 at 4:50 pm

Targeted Chrysler dealers in a race to the end

NEW YORK - Hundreds of Chrysler dealers across the U.S. on the automaker's "hit list" are scrambling to dispose of their inventory by Tuesday when their franchise agreements are slated to be terminated.

Auburn Hills, Michigan-based Chrysler has asked a bankruptcy court for permission to terminate the franchise agreements of 789 dealers, about 25 percent of the total. Chrysler needs to cut costs, and claims current sales levels do not justify a network of 3,189 dealers.

  • MARK PHELAN: Auto bailouts aren't new fad
    Name a failing automaker that needed outside help to survive. Not General Motors or Chrysler. That's too easy. How about BMW, Nissan, Renault and Ferrari? Among the world's most admired brands and companies...
  • Conflicted GM has a lot riding on Volt
    WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit...
  • REPORT: Tata confirms Nano U.S.-bound in around two years
    Tato Nano Europa - Click above for a photo gallery Americans may have the opportunity to welcome the Tata Nano to their shores in just over two years, according to a confirmation from David Good, a U.
  • VIDEO: Loremo takes to the streets, with sound
    Loremo electric car - Click above to watch the video after the break It wasn't long ago that we first saw the first prototype from Germany startup automaker and Auto X-Prize hopeful Loremo move under its own power on video.
More stories ...

The Ultimate Flying Machine? BMW trims out business jet
June 7, 2009 at 4:36 pm

The Ultimate Flying Machine? BMW trims out business jet

BMW DesignworksUSA Falcon 7X business jet interior - Click above for a high-res image gallery

Thanks to its unique "ability to create designs consistent with individual brands, as exemplified by BMW, MINI and Rolls-Royce Motor Cars," Dassault Aviation tasked BMW Group DesignworksUSA with the job of outfitting the interior of its new Falcon 7X business jet. The results were unveiled at the European business aviation community event in Geneva,

  • VIDEO: First TTGXP practice run XXL Racing
    The first ever TTXGP is now just a few days away and teams are still arriving to the Isle of Man for the event. One group that arrived earlier than most is XXL Racing from Germany...
  • Targeted Chrysler dealers in a race to the end
    NEW YORK - Hundreds of Chrysler dealers across the U.S. on the automaker's "hit list" are scrambling to dispose of their inventory by Tuesday when their franchise agreements are slated to be terminated.
  • SPOILER ALERT: Hopes and Dreams at the 2009 Turkish Grand Prix
    2009 Turkish Grand Prix – Click above for a high-res image gallery With the established teams still threatening to walk and new teams lining up by the dozen, nothing...
  • Tata wants to bring the Nano to the US within two years
    Click above for a high-res gallery of the Tata Nano Europa Ever since Tata Motors announced plans to build a $2,500 car, speculation has been rife about whether the car would ever make it to the U.
More stories ...

SPOILER ALERT: Hopes and Dreams at the 2009 Turkish Grand Prix
June 7, 2009 at 3:09 pm

SPOILER ALERT: Hopes and Dreams at the 2009 Turkish Grand Prix

2009 Turkish Grand Prix – Click above for a high-res image gallery

With the established teams still threatening to walk and new teams lining up by the dozen, nothing could have better characterized Formula One's transition from old to new better than the move from the Monaco Grand Prix two weeks ago to the Turkish Grand Prix this weekend. While the Monaco race – held on the streets of Monte Carlo,

  • The Ultimate Flying Machine? BMW trims out business jet
    BMW DesignworksUSA Falcon 7X business jet interior - Click above for a high-res image gallery Thanks to its unique "ability to create designs consistent with individual brands...
  • TTXGP eGrandPrix comes to the USA
    Brammo Enertia TTR race bike - Click above for a high-res image gallery As excited as we are about the upcoming TTXGP zero-emissions eGrandPrix, we're more than a bit...
  • Rendered Speculation: New Mustang gets the virtual Mach 1 treatment
    2011 Ford Mustang Mach 1 renderings by Edmundo Cano - Click above for a high-res image gallery Few Mustang variants are as legendary or desirable as the classic Mach 1.
  • Volvo prices new normally-aspirated XC60 3.2 from $33,245*
    2010 Volvo XC60 - Click above for a high-res image gallery In addition to the turbocharged 3.0-liter T6 model, Volvo has introduced a new, less expensive 3.2-liter variant of the 2010 XC60...
More stories ...

Tata wants to bring the Nano to the US within two years
June 7, 2009 at 1:40 pm

Tata wants to bring the Nano to the US within two years

Click above for a high-res gallery of the Tata Nano Europa

Ever since Tata Motors announced plans to build a $2,500 car, speculation has been rife about whether the car would ever make it to the U.S. At the annual meeting of the company this week, Ratan Tata made it clear that the little Nano will indeed come to America if he has anything to do with it. The Nano is currently undergoing modifications and testing to meet U.S. safety and emissions standards. The U.S. version will likely be based on the Nano Europa that was shown at the Geneva Motor Show in March.

  • REPORT: Tata confirms Nano U.S.-bound in around two years
    Tato Nano Europa - Click above for a photo gallery Americans may have the opportunity to welcome the Tata Nano to their shores in just over two years, according to a confirmation from David Good, a U.
  • Rendered Speculation: New Mustang gets the virtual Mach 1 treatment
    2011 Ford Mustang Mach 1 renderings by Edmundo Cano - Click above for a high-res image gallery Few Mustang variants are as legendary or desirable as the classic Mach 1.
  • Motoczysz releases pics of completed E1pc electric superbike
    Motoczysz E1pc - Click above for an image gallery Finally, speculation on the appearance of the Motoczysz E1pc can end as the fledgling American motorcycle maker has released...
  • Tata May Bring the Nano to America
    Tata's dirt-cheap Nano microcar, which is a huge hit in India even before it hits the streets, just might be headed to America. The Indian automaker says it would have...
More stories ...

Lamborghini adding solar power to factory, vows to cut range CO2 35% by 2015
June 7, 2009 at 12:44 pm

Lamborghini adding solar power to factory, vows to cut range CO2 35% by 2015

In the grand scheme of things, the facilities and products of Lamborghini don't really amount to a hill of beans. After all, the company only has one main factory that produces a few thousand cars a year. While those cars are high-powered and consume a lot of fuel per mile driven, Lamborghini owners tend to drive those cars far fewer miles than the mainstream autos the rest of us hop into on a daily basis. As such, the Lambos' total emissions don't add up to much.

  • Spy Shots: Is Bentley testing a hybrid Continental GT?
    Bentley CEO Franz-Josef Paefgen has repeatedly said in the past that the British luxury marque will introduce lower CO2-emitting powertrains over the next several years, starting with the flex-fuel W12 in the Continental Supersports this fall.
  • Toy Ferrari turned into exotic computing device
    Ferrari F430 PC: Click above to view gallery For Autoblog readers, cars and computers converge on a daily basis, but never like this. At Computex, creative PC packaging company Kimpro displayed an Intel Atom-based netbook (for the tech-challenged...
  • Lamborghini Cuts CO2, Keeps 0-60
    Some car companies are well-known for their low-emissions offerings: the Tesla Roadster, the Chevy Volt and Toyota Prius come to mind. Get ready to add Lamborghini to the list...
More stories ...

Spy Shots: Is Bentley testing a hybrid Continental GT?
June 7, 2009 at 11:06 am

Spy Shots: Is Bentley testing a hybrid Continental GT?

Bentley CEO Franz-Josef Paefgen has repeatedly said in the past that the British luxury marque will introduce lower CO2-emitting powertrains over the next several years, starting with the flex-fuel W12 in the Continental Supersports this fall. As part of the Volkswagen Group, Bentley is likely to follow some of the same powertrain paths as the rest of the group (i.e., diesel). However, it's likely that hybrids will be part of the picture as well.

  • Spy Shots: Rolls Royce Mini one-off
    Park Lane Rolls Royce MINI - click for gallery People love to imagine bigger and better things for the long-running MINI. Whether it's a new Speedster version or a revived MINI Moke, the platform inspires daydreaming.
  • Spy Shots: Ford Ranger mule caught testing in Dearborn
    Ford Ranger mule – Click above for high-res image gallery of spy shots As we've previously reported, Ford engineers in Australia are hard at work on the next-generation Ranger pickup, reportedly codenamed T6.
  • Forum Spy: 2010 Volvo C70 convertible snapped during Barcelona commercial shoot
    2010 Volvo C70 Spy Shots - Click above for a high-res gallery Swedespeed forum member al_bcn has managed to capture a pair of what looks to be Volvo's refreshed-for-2010 C70 convertibles totally undisguised.
  • Acura TSX gets power boost with V6 transplant:
    The formula for making a muscle car was established 46 years ago when John Z. DeLorean dropped a 389 where a 326 had been and created the first GTO. That simple Frankenstinian act has been followed ever since by a parade of great brutes.
More stories ...

Bob Lutz and GM Ambivalent About the Chevy Volt
June 7, 2009 at 9:05 am

Bob Lutz and GM Ambivalent About the Chevy Volt

The story begins pointing out that the Chevrolet Camaro SS is GM's latest muscle car that flies in the face of all the environmental talk going on these days.  "Sexy with charisma," says Lutz, but admits "Some people don't care for those kinds of descriptions today - it's a different time."

Lutz counters "But we have new vehicles, too. We have the Volt. We are committed to the electrification of the automobile. We know this is the time."

  • Kicking Wagoner out caused outrage and shock at GM
    Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp. It was March 27, almost nine years after he become chief executive officer.
  • Conflicted GM has a lot riding on Volt
    WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit...
  • What Question Would You Ask GM CEO Fritz Henderson?
    Now of course Fritz Henderson is at the helm. He has inherited a company that is in bankruptcy, and is charged with the herculean task of restructuring it into a leaner meaner four brand form.
  • GM Re:tardation Site Parodies GM Ad Campaign, Mocks Carpocalypse
    Think GM's new "Re:Invention" ad campaign is a bit of a joke? A spoof site called GM Re:tardation's sprung up to take on their new marketing silliness. Better, they've put together a spot-on commercial parody as well. See it below.
More stories ...

Boston Power plans manufacturing facility for Massachusetts, seeks DOE dollars
June 7, 2009 at 8:47 am

Boston Power plans manufacturing facility for Massachusetts, seeks DOE dollars

The battery makers vying for dollars from the Department of Energy's (DOE) Electric Drive Vehicle Battery & Component Manufacturing Initiative just got a little more competition. Boston Power has announced plans to build an advanced lithium ion battery plant in Massachusetts and is seeking $100 million in help from the program. The planned 455,000 sq ft site would increase the company's workforce by 600 and create as many as 2,000 indirect positions in the supply chain.

  • Mitsubishi Becomes First Automker in World to Mass Produce Electric Car: Unveils Production Version i MiEV
    The car has a 16 kwh lithium-ion battery pack.  The  pack is 333 V and composed of 88 large format cells produced by a joint venture between Mitsubishi Motors and GS Yuasa of Japan.
  • Valence Technologies applies for $255 DOE grant to build batteries
    Battery manufacturer Valence Technology has big plans to expand its manufacturing capacity. To help pay for the investment, the Austin, Texas-based company has applied for a $225 million grant from the U.
  • Tier-1 supplier Metaldyne files for Chapter 11 bankruptcy too
    To the roll call of auto industry titans that have gone or are going bankrupt -- Visteon, Chrysler, GM, Saab, Karmann, ASC, Source Interlink -- we can now add Tier 1 supplier Metaldyne, which filed for bankruptcy for its American operations.
  • Ferdinand Porsche Award goes to lithium battery researchers
    click above for a high res gallery of Lohner-Porsche EVs and hybrids This year's "Professor Ferdinand Porsche Award" has gone to Dipl. Eng. Michael Keller from Temic Automotive Electric Motors GmbH, Berlin, and Prof.

Obama's man called shots on bankruptcy
June 7, 2009 at 2:53 am

Obama's man called shots on bankruptcy

By the evening of April 29, with their historic bankruptcy filing hours away, Chrysler Chairman Bob Nardelli and other company leaders were left with no doubt that Steven Rattner was calling the shots.

Chrysler executives still hoped to avoid bankruptcy. The UAW had ratified a second round of concessions that froze wages, cut retiree health care benefits and agreed not to strike the company for more than six years. All but a handful of lenders had signed off on the U.S. Treasury's offer of $2 billion to write off $6.9 billion in Chrysler loans.

  • Kicking Wagoner out caused outrage and shock at GM
    Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp. It was March 27, almost nine years after he become chief executive officer.
  • Congressional letter alleges Nardelli and Chrysler failed to disclose more lucrative offers for Viper
    In a letter from California Congressman Darrell Issa to Chrysler's Bob Nardelli, the Auburn Hills executive is charged with failing to disclose information regarding the sale of the Dodge Viper line.
  • G.M. Reaches Deal to Sell Saturn to Penske
    From our colleagues at DealBook: General Motors has agreed to sell its Saturn brand to Roger Penske, a major auto dealer, and a deal is expected to be announced on Friday, a person with direct knowledge of the matter said.
More stories ...

TOM WALSH: Hidden costs in deal to keep GM in Detroit
June 7, 2009 at 2:46 am

In Detroit, where good deeds rarely go unpunished, Mayor Dave Bing is still trying to cobble together a deal to keep General Motors Corp. in its downtown Renaissance Center headquarters.

Problem is, how to do it without gutting the very agencies that run the city's business attraction and retention efforts, the Detroit Economic Growth Corp. and Downtown Development Authority?

  • Bob Lutz and GM Ambivalent About the Chevy Volt
    The story begins pointing out that the Chevrolet Camaro SS is GM's latest muscle car that flies in the face of all the environmental talk going on these days.  "Sexy with charisma...
  • Kicking Wagoner out caused outrage and shock at GM
    Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp. It was March 27, almost nine years after he become chief executive officer.
  • Conflicted GM has a lot riding on Volt
    WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit...
  • What Question Would You Ask GM CEO Fritz Henderson?
    Now of course Fritz Henderson is at the helm. He has inherited a company that is in bankruptcy, and is charged with the herculean task of restructuring it into a leaner meaner four brand form.
More stories ...

MARK PHELAN: Auto bailouts aren't new fad
June 7, 2009 at 2:28 am

MARK PHELAN: Auto bailouts aren't new fad

Name a failing automaker that needed outside help to survive.

Not General Motors or Chrysler. That's too easy.

How about BMW, Nissan, Renault and Ferrari? Among the world's most admired brands and companies, none would exist today if somebody hadn't thrown them a lifeline.

Tokyo Electric was within hours of shutting off the lights at Nissan headquarters when Renault came in with a low-ball offer and new management in 1999. Renault itself had been in shambles 15 years earlier when the French government ousted the chairman and installed new leadership.

  • Targeted Chrysler dealers in a race to the end
    NEW YORK - Hundreds of Chrysler dealers across the U.S. on the automaker's "hit list" are scrambling to dispose of their inventory by Tuesday when their franchise agreements are slated to be terminated.
  • Conflicted GM has a lot riding on Volt
    WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit...
  • REPORT: Tata confirms Nano U.S.-bound in around two years
    Tato Nano Europa - Click above for a photo gallery Americans may have the opportunity to welcome the Tata Nano to their shores in just over two years, according to a confirmation from David Good, a U.
  • VIDEO: Loremo takes to the streets, with sound
    Loremo electric car - Click above to watch the video after the break It wasn't long ago that we first saw the first prototype from Germany startup automaker and Auto X-Prize hopeful Loremo move under its own power on video.
More stories ...

Toyota: Plug-in Hybrids Will Have Limited Appeal
June 7, 2009 at 2:00 am

Toyota: Plug-in Hybrids Will Have Limited AppealWhat does Toyota really think about plug-in hybrid cars? It's probably not a stretch to say the company has mixed feelings...

  • Tata wants to bring the Nano to the US within two years
    Click above for a high-res gallery of the Tata Nano Europa Ever since Tata Motors announced plans to build a $2,500 car, speculation has been rife about whether the car would ever make it to the U.
  • Re-enacting a Ground-Breaking Journey
    On June 9, 1909, Alice Huyler Ramsey left New York City in a Maxwell Model DA, bound for the West Coast. Two months and 3,800 rugged miles later, she and her three passengers arrived in San Francisco...
  • Plug-In Prius Coming This Year
    Toyota's third-gen Prius is already a huge hit in Japan, and the automaker plans to lease a plug-in version to corporate and municipal customers by the end of the year.
  • Russian taxi company adds Carver to fleet
    Carver One for taxi duty - Click above for a high-res image gallery We don't often hear about the Carver One here in the United States, probably because it's not actually available for sale in this country.
More stories ...

Kicking Wagoner out caused outrage and shock at GM
June 7, 2009 at 1:34 am

Kicking Wagoner out caused outrage and shock at GM

Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp.

It was March 27, almost nine years after he become chief executive officer. He'd been summoned by Steven Rattner, the Wall Street deal-maker running President Barack Obama's auto task force.

  • Bob Lutz and GM Ambivalent About the Chevy Volt
    The story begins pointing out that the Chevrolet Camaro SS is GM's latest muscle car that flies in the face of all the environmental talk going on these days.  "Sexy with charisma...
  • Obama's man called shots on bankruptcy
    By the evening of April 29, with their historic bankruptcy filing hours away, Chrysler Chairman Bob Nardelli and other company leaders were left with no doubt that Steven Rattner was calling the shots.
  • Conflicted GM has a lot riding on Volt
    WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit...
  • What Question Would You Ask GM CEO Fritz Henderson?
    Now of course Fritz Henderson is at the helm. He has inherited a company that is in bankruptcy, and is charged with the herculean task of restructuring it into a leaner meaner four brand form.
More stories ...

Supreme Court asked to block Chrysler sale
June 7, 2009 at 1:14 am

Supreme Court asked to block Chrysler sale

WASHINGTON ? Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal.

Three Indiana state pension and construction funds filed emergency papers at the high court early this morning to put the sale on hold so they can pursue an appeal.

The federal appeals court in New York approved the sale Friday, but gave objectors until Monday afternoon to try to get the Supreme Court to intervene. Chrysler wants to sell the bulk of its assets to a group led by Italy's Fiat as part of its plan to emerge from bankruptcy protection.

  • MARK PHELAN: Auto bailouts aren't new fad
    Name a failing automaker that needed outside help to survive. Not General Motors or Chrysler. That's too easy. How about BMW, Nissan, Renault and Ferrari? Among the world's most admired brands and companies...
  • Obama's man called shots on bankruptcy
    By the evening of April 29, with their historic bankruptcy filing hours away, Chrysler Chairman Bob Nardelli and other company leaders were left with no doubt that Steven Rattner was calling the shots.
  • Chrysler sale may close on Monday
    The sale creating a new Chrysler-Fiat could close Monday afternoon, unless the U.S. Supreme Court decides to hear a last-ditch appeal from three Indiana pension funds.
  • Court OKs Chrysler sale
    NEW YORK ? A U.S. appeals court says it approved Chrysler's sale to Fiat but is keeping the deal on hold until Monday to allow an appeal. The 2nd U.S. Circuit Court of Appeals says it will block the sale until 4 p.
More stories ...

Conflicted GM has a lot riding on Volt
June 7, 2009 at 12:26 am

Conflicted GM has a lot riding on Volt

WARREN, Mich. - Even now, as General Motors fights for survival, there is something ambivalent about its prescription for saving itself, a conflict implicit in a bit of symbolism that recently greeted arrivals to the Detroit Metropolitan Airport even before they reached baggage claim.

One of GM's touted new automobiles sat on display in the center of the automaker's airport gift shop. It was not the coming electric car, the 2011 Chevrolet Volt,

  • Bob Lutz and GM Ambivalent About the Chevy Volt
    The story begins pointing out that the Chevrolet Camaro SS is GM's latest muscle car that flies in the face of all the environmental talk going on these days.  "Sexy with charisma...
  • Kicking Wagoner out caused outrage and shock at GM
    Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp. It was March 27, almost nine years after he become chief executive officer.
  • What Question Would You Ask GM CEO Fritz Henderson?
    Now of course Fritz Henderson is at the helm. He has inherited a company that is in bankruptcy, and is charged with the herculean task of restructuring it into a leaner meaner four brand form.
  • VIDEO: Loremo takes to the streets, with sound
    Loremo electric car - Click above to watch the video after the break It wasn't long ago that we first saw the first prototype from Germany startup automaker and Auto X-Prize hopeful Loremo move under its own power on video.
More stories ...

Detroit 3 headlines: Ford Canada wants CAW talks
June 6, 2009 at 11:13 pm

Ford Canada wants to negotiate a new labor deal with the Canadian Auto Workers to become more competitive with its auto counterparts now that Chrysler Canada Inc. and General Motors Canada have inked new cost-cutting labor agreements with the union, the Associated Press reported.

The CAW recently signed new contracts to cut Chrysler's costs by about $17 an hour and GM's by about $20 an hour.

  • Supreme Court asked to block Chrysler sale
    WASHINGTON ? Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers...
  • This may be the perfect weekend to buy a car
    DES MOINES, Iowa - If you're looking for a new Chrysler, Dodge or Jeep, this just might be your weekend. Chrysler dealers who will lose their right to sell new cars as...
  • Nano's low base price leaves room for extras
    Tata Motors' tiny Nano car made headlines with its low price, but most buyers are ordering optioned-up versions, the Indian automaker reports. The Nano has a headline-grabbing base price of just under $2...
  • Bankrupt GM changes its tone with consumers
    After filing for bankruptcy protection, General Motors is pushing a new ad campaign promising it will emerge from its financial troubles leaner and stronger. Is this...
More stories ...

Auto news in brief: Another take on turmoil
June 6, 2009 at 10:41 pm

Of all the treatments in newspapers and magazines of General Motors' bankruptcy filing Monday, the most elaborate is the cover of the Economist magazine.

The magazine said that General Motors' large size was partly to blame for its problems and said the same of Chrysler. Their large organizations made it difficult to adapt to change.

  • MARK PHELAN: Auto bailouts aren't new fad
    Name a failing automaker that needed outside help to survive. Not General Motors or Chrysler. That's too easy. How about BMW, Nissan, Renault and Ferrari? Among the world's most admired brands and companies...
  • Obama's man called shots on bankruptcy
    By the evening of April 29, with their historic bankruptcy filing hours away, Chrysler Chairman Bob Nardelli and other company leaders were left with no doubt that Steven Rattner was calling the shots.
  • G.M. Reaches Deal to Sell Saturn to Penske
    From our colleagues at DealBook: General Motors has agreed to sell its Saturn brand to Roger Penske, a major auto dealer, and a deal is expected to be announced on Friday, a person with direct knowledge of the matter said.
More stories ...

Auto task force chief no stranger to success, wealth
June 6, 2009 at 10:34 pm

Steven Rattner, like most well-connected financiers, has conflicts of interest. But to his credit, he has been pretty careful about disclosing them.

Rattner, head of President Barack Obama's auto task force, reported a net worth of at least $188 million when he took the job Feb. 23. Between $500,000 and $1 million of that was in shares of Cerberus Institutional Partners LP Series 2, which is managed by the company that has owned 80.1% of Chrysler since August 2007. He has since sold those shares, according to a Treasury Department spokeswoman.

  • Kicking Wagoner out caused outrage and shock at GM
    Rick Wagoner arrived at the U.S. Treasury building in Washington for another appointment with government officials about the survival of General Motors Corp. It was March 27, almost nine years after he become chief executive officer.
  • Obama's man called shots on bankruptcy
    By the evening of April 29, with their historic bankruptcy filing hours away, Chrysler Chairman Bob Nardelli and other company leaders were left with no doubt that Steven Rattner was calling the shots.
  • Mitsubishi Evo Destroyed Filming Top Gear Season 13
    Top Gear host Jeremy Clarkson's no stranger to unleashing military might on passenger cars. His latest exploit appears to involve a white Evo VII. Perhaps his greatest...
 

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