Bernie's Feed
Jan 13, 2013

Corvette enthusiasts await debut of 2014 model

DETROIT, Jan 13 (Reuters) – Members of America’s Corvette
Club can’t wait to see General Motors Corp’s 2014
Chevrolet Corvette Stingray, the first new Corvette in nine
years, which the automaker will unveil this week at the annual
Detroit auto show.

The seventh generation Corvette, called C7 by fans of the
iconic American sportscar, has a front-mounted engine and a
shape like a race car. GM will show it to the media on Sunday
and make pictures and video available to the public.

Jan 10, 2013

Chrysler minority owner pushes first step toward IPO

DETROIT, Jan 9 (Reuters) – The minority owner of Chrysler
Group LLC on Wednesday pushed the U.S. automaker to take the
first step toward becoming a public company again by demanding
that Chrysler register shares with U.S. regulators.

The minority owner, a United Auto Workers union retiree
healthcare trust, on Wednesday demanded that Chrysler register
16.6 percent of company shares with the U.S. Securities and
Exchange Commission. The trust has the right to make the demand
because of the 2009 agreement that brought Chrysler out of
bankruptcy and left Fiat SpA as part-owner.

Jan 3, 2013

Auto industry posts best U.S. sales year since 2007

DETROIT, Jan 3 (Reuters) – U.S. auto sales rose 9 percent in
December, led by foreign manufacturers, capping off the best
year for the industry since before the recession.

The year’s sales were driven by a slowly recovering economy,
more available credit and the need for consumers and businesses
to replace aging cars and trucks.

Jan 3, 2013

December sales mixed for Detroit automakers

DETROIT (Reuters) – Detroit’s automakers showed December U.S. sales gains of 5 percent, slightly better than analysts’ expectations, but likely not enough to stave off market-share gains by Japanese rivals.

General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) posted sales growth of 5 percent compared with the previous December, Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) increased sales 2 percent and Chrysler Group LLC’s sales rose 10 percent.

Dec 27, 2012

Toyota to settle acceleration cases for over $1 billion

DETROIT (Reuters) – Toyota Motor Corp has proposed spending $1.1 billion to install safety systems and provide cash payments to customers to resolve sweeping U.S. class-action litigation over claims that millions of the Japanese automaker’s vehicles accelerate unintentionally.

About 16 million Toyota, Lexus and Scion vehicles sold in the United States from the model years 1998 to 2010 are covered by the action, according to court filings made public on Wednesday. Thirty models are affected, including the top-selling Toyota Camry midsize sedan and Corolla compact car.

Dec 27, 2012

Toyota seeks to settle acceleration cases for $1.1 billion

DETROIT (Reuters) – Toyota Motor Corp has proposed spending $1.1 billion to install safety systems and provide cash payments to customers to resolve sweeping U.S. class-action litigation over claims that millions of the Japanese automaker’s vehicles accelerate unintentionally.

About 16 million Toyota, Lexus and Scion vehicles sold in the United States from the model years 1998 to 2010 are covered by the action, according to court filings made public on Wednesday. Thirty models are affected, including the top-selling Toyota Camry midsize sedan and Corolla compact car.

Dec 17, 2012

Chrysler wins initial approval for Indiana transmission plant

By Bernie Woodall

(Reuters) – Chrysler Group LLC (FIA.MI: Quote, Profile, Research, Stock Buzz) is expected to build the industry’s first nine-speed automatic transmission in late 2013 at a plant north of Indianapolis if it wins final approval of a 10-year tax break from local authorities, according to a source familiar with the company’s plans.

The automaker on Monday received preliminary approval of the tax abatement from Tipton County, Indiana. Chrysler has said it plans to invest $162 million in a transmission plant there if the Tipton City Council finalizes the tax deal on Tuesday.

Dec 13, 2012

Michigan Governor Snyder’s evolution on contentious labor law

LANSING, Michigan (Reuters) – Republican Governor Rick Snyder signed legislation on Tuesday that makes Michigan, the birthplace of the United Auto Workers, the 24th U.S. state to enact a “right-to-work” law that limits the rights of labor unions in the workplace.

The signing marked a whirlwind six days from introduction to final approval of the legislation, but a day that Republicans said was years in the planning.

Dec 13, 2012

Insight: How Republicans engineered a blow to Michigan’s powerful unions

LANSING, Michigan (Reuters) – As a trained aerospace engineer, Patrick Colbeck applied his penchant for data analysis and “systematic approach” to his new job in early 2011: a Michigan state senator, recently elected and keen to create jobs in the faded industrial powerhouse.

Those skills paid off handsomely for the first-term Republican this week as Governor Rick Snyder signed into law bills co-sponsored by Colbeck that ban mandatory union membership, making Michigan the nation’s 24th right-to-work state.

Dec 13, 2012

How Republicans engineered a blow to Michigan’s powerful unions

, Dec 13 (Reuters) – As a trained aerospace
engineer, Patrick Colbeck applied his penchant for data analysis
and “systematic approach” to his new job in early 2011: a
Michigan state senator, recently elected and keen to create jobs
in the faded industrial powerhouse.

Those skills paid off handsomely for the first-term
Republican this week as Governor Rick Snyder signed into law
bills co-sponsored by Colbeck that ban mandatory union
membership, making Michigan the nation’s 24th right-to-work
state.