Correspondent, Detroit
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Jan 14, 2014

GM to pay first quarterly dividend in almost six years

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) will pay the first quarterly dividend on its common stock in almost six years, marking another step in the U.S. automaker’s recovery from its bankruptcy in 2009.

The No. 1 U.S. automaker, which last paid a dividend in June 2008 before it moved to save money during the U.S. recession, said it will pay shareholders a quarterly dividend of 30 cents a share, payable on March 28 to shareholders of record on March 18. In 2008, its quarterly dividend was 25 cents a share.

Jan 14, 2014

Tesla demand surges, stock rises 12 percent

DETROIT (Reuters) – Electric car maker Tesla Motors Inc said on Tuesday deliveries of its Model S sedan in the fourth quarter blew past what the company had forecast, sending shares up 12 percent.

Tesla delivered almost 6,900 Model S sedans in the quarter, 20 percent above what the company had forecast, Jerome Guillen, vice president of global sales and service, said at the Detroit auto show.

Jan 14, 2014

‘New’ GM has old problem: stagnant U.S. market share

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) has much to celebrate at this year’s Detroit auto show, the first since 2009 that the company is not partly owned by the U.S. government.

Last month, it named its first female CEO and automotive writers on Monday voted the Chevrolet Corvette Stingray and Silverado as car and truck of the year, respectively.

Jan 13, 2014
Jan 13, 2014
Jan 13, 2014

Special Report: Deadly airbags backfire on firm that crossed ‘dangerous bridge’

DETROIT/TOKYO (Reuters) – At a New Year’s party thrown by Honda in 1985, Juichiro Takada, heir to a family woven-cloth business that had branched into car seatbelts, divulged a decision. His company, Takata Corp, would steer clear of mass-producing automotive airbags.

The newest idea in car safety, cushions that inflated within thousandths of a second after an accident, was just too risky. One mistake could ruin the company he inherited from his father.

Jan 13, 2014

Deadly airbags backfire on firm that crossed ‘dangerous bridge’

DETROIT/TOKYO, Jan 13 (Reuters) – At a New Year’s party thrown by Honda in 1985, Juichiro
Takada, heir to a family woven-cloth business that had branched into car seatbelts, divulged a
decision. His company, Takata Corp, would steer clear of mass-producing automotive
airbags.

The newest idea in car safety, cushions that inflated within thousandths of a second after
an accident, was just too risky. One mistake could ruin the company he inherited from his
father.

Jan 13, 2014

GM’s Ammann sees ‘modest continued growth’ in U.S. market in 2014

DETROIT, Jan 13 (Reuters) – Dan Ammann, the incoming
president of General Motors Co, said on Monday the
automaker expects the U.S. market to continue to grow modestly
in 2014.

“We see modest continued growth in the industry here in the
U.S., in line with general expectations,” Ammann said at the
North American International Auto Show in Detroit. He is
currently the chief financial officer of GM.

Jan 13, 2014
Jan 13, 2014

Detroit automakers face test of leadership in 2014

DETROIT (Reuters) – General Motors named a new chief executive, Ford kept its old leader and Chrysler’s CEO averted a divisive public offering. And that was just in the last 30 days.

This year is shaping up as a test of leadership at GM (GM.N: Quote, Profile, Research), Ford (F.N: Quote, Profile, Research) and Chrysler, five years after the U.S. auto industry’s searing restructuring. While the risks ahead are no longer life-threatening, how the companies respond will set their direction for years to come and signal whether the lessons of the financial crisis were embedded deeply enough.

    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Hometown:
      Washington, DC
      Joined Reuters:
      1998
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