Bernie's Feed
Apr 1, 2014

U.S. auto sales inch higher in March

DETROIT/SAN FRANCISCO (Reuters) – U.S. auto sales inched up in March after two months when weather reduced demand, but the robust sales rebound some expected will have to wait until April, initial reports by major automakers showed on Tuesday.

Ford Motor Co reported a 3 percent rise in U.S. sales; Toyota Motor Corp a 5 percent rise; and Chrysler Group, a unit of Fiat Chrysler Automobiles, a 13 percent increase from a year ago. All three narrowly beat expectations by industry research firm Edmunds.com.

Mar 28, 2014

Ford CEO Mulally’s compensation rose 10.7 percent in 2013

DEARBORN, Michigan (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) Chief Executive Alan Mulally got a healthy raise in 2013 as his total compensation jumped 10.7 percent to $23.2 million, based in part on bonuses related to his performance as well as that of the company, the automaker said on Friday.

Mulally’s and four other top Ford executives’ compensation along with that of the company’s board of directors was reported to U.S. securities regulators in an annual proxy statement ahead of the company’s annual meeting on May 8 in Delaware.

Mar 21, 2014

Judge strikes down Michigan’s ban on same-sex marriage

DETROIT (Reuters) – Michigan’s ban on same-sex marriage violates the U.S. Constitution and must be overturned, a federal judge ruled on Friday in the latest in a series of court decisions to allow gay couples to wed.

Michigan Attorney General Bill Schuette said he was seeking an emergency stay and appeal of the ruling with the U.S. Court of Appeals for the Sixth Circuit, which struck down a Michigan constitutional amendment adopted by voters in 2004.

Mar 19, 2014

New generation of small engines to power 27 GM models by 2017

PONTIAC, Michigan (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) on Wednesday announced a new generation of efficient small engines that it says will power 27 models in 64 countries by the 2017 model year.

The automaker said it was attempting to streamline production with a modular architecture of the 1-to-1.5-liter, 3- to 4-cylinder engines that will allow them to be adapted to varying needs in different global markets.

Mar 19, 2014

GM to build 2.5 million new ‘Ecotec’ small engines by 2017

, March 19 (Reuters) – General Motors Co
on Wednesday announced a new generation of efficient
small engines that it says will power 27 models in 64 countries
by the 2017 model year.

The company said it was attempting to streamline production
with a modular architecture of the 1-to-1.5-liter, 3- to
4-cylinder engines that will allow them to be adapted to varying
needs in different global markets.

Mar 6, 2014

Ford CEO Mulally gets $13.8 million in stock for 2013 performance

DETROIT (Reuters) – Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) Chief Executive Alan Mulally was awarded performance bonuses for 2013 worth $13.8 million, the No. 2 U.S. automaker disclosed to U.S. regulators on Thursday.

The amount Mulally makes from the restricted stock he received depends on its value on the day he sells it. The shares were worth $13.83 million based on Thursday’s closing price of $15.67.

Mar 4, 2014

Chrysler halts appeal for Canadian funds, will still invest in plants

TORONTO/DETROIT (Reuters) – Chrysler Group LLC said on Tuesday that it would push ahead with development plans for two key assembly plants in the Canadian province of Ontario, but will keep its “strategic options” open after withdrawing requests for government funding.

Chrysler, a unit of Fiat Chrysler Automobiles (FIA.MI: Quote, Profile, Research, Stock Buzz), said its appeal for cash from the governments of Canada and Ontario had become a “political football,” showing the country’s short-sighted view of industrial development.

Mar 3, 2014

U.S. auto sales flat, incentives could hit profit

DETROIT, March 3 (Reuters) – U.S. auto sales in February
finished even with the year-earlier period as hefty incentives
to lure customers into dealerships late in the month could not
overcome cold and snowy weather.

February’s sales fell less than 300 vehicles from last
year’s 1,193,872 light cars and trucks. While General Motors Co
, Ford Motor Co and Chrysler Group all reported
stronger-than-expected sales, the higher incentives raised
concerns about industry profitability in the future.

Mar 3, 2014

Nissan U.S. sales up 16 percent, above expected industry showing

DETROIT (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) said on Monday that its U.S. February sales rose 16 percent, which is expected to easily top the estimated gain of less than 1 percent for the auto industry.

Continued cold weather in the month probably kept many car shoppers away from dealers, analysts said. A poll of 34 analysts by Thomson Reuters showed expectations of a 0.3 percent increase over February sales last year.

Feb 28, 2014

Second group files to keep UAW from reversing VW plant vote

Feb 28 (Reuters) – An anti-union group representing workers
at Volkswagen AG’s Chattanooga, Tennessee plant on
Friday moved to undercut a United Auto Workers challenge of an
election in which the union failed to organize the factory, the
second such action this week.

Southern Momentum, an anti-UAW group overseen by a
Chattanooga attorney, filed to intervene in the UAW’s objection
to the election results to the National Labor Relations Board.