GM, DOE Team Up For Round Three Of Innovation Competition
Figuring out a way for a hybrid powertrain to co-exist with the performance expectations of a classic American muscle car is a challenge that could vex that most experienced automotive engineers. It's a challenge, in fact, being handed to a bunch of college students.
An editorial in the Harvard Business Review heavily criticizes GM for bowing to a group of activist investors and buying back $8 billion in stock. The piece rails against the idea of these buybacks in general.
Striking was the workers' way of demanding humane treatment by employers and a seat at the table with management. Strikes weren't meant to last for long, but some dragged thousands of workers off the line for months. Here are the top five largest manufacturing strikes in UAW history.
The United States Postal Service has sent a request for information to automakers, seeking bids on a next-generation postal delivery vehicle. It needs 180,000 new trucks built with safety and package delivery in mind to replace the archaic Grumman LLV that's become a huge drain on service resources.
A former Obama aide, Harry J. Wilson, is leading a group of investment funds urging General Motors to buy back $8 billion worth of its stock, which could raise share prices. Wilson also wants a seat on the GM board.
At the end of January GM said it would hold pat on its dividend of 30 cents per share, leading investors to complain. This week it said it would increase the dividend 20 percent, and later this year would look at "further return of capital to shareholders" assuming it can get the recall fiasco concluded.
According to Kenneth Feinberg, the lawyer and administrator contracted by General Motors to handle its ignition switch liability claims, the automaker's efforts to minimize the potential for lawsuits is working.
The General Motors Ignition Compensation Claims Resolution Facility recently extended its filing deadline by a month, to January 31, 2015. Another 141 claims have been submitted over the past week concerning the ignition switch defect, taking the five-month total to 2,710 claims received.
The already record-breaking rate of automotive recalls this year shows no signs of slowing down, especially since millions of cars with defective airbags made by global supplier Takata are under further scrutiny.
The Auditor General of Canada recently issued a report that makes at least one thing clear: it doesn't know how effective Canadian government loans given to General Motors and Chrysler in 2009 were in ensuring the viability of both companies. That year, the Canadian and Ontario governments dished out $10.8 billion CAD ($9.6B US) to GM and $2.9 billion CAD ($2.6B US) to Chrysler, but hadn't yet sorted out precisely how the funds were to be used before disbursing them.
We couldn't even begin to count all the concept cars that General Motors has made over the years, but what we do know is that few have carried the kind of legend that the Futurliners have. Of the dozen such buses GM made, No. 10 (similar to the one pictured here) has arguably had the most colored history, but now it's finally getting the recognition it so richly deserves.
General Motors is facing even more legal trouble after recalling roughly 26.6 million vehicles in the US this year. The latest case comes from the Arizona Attorney General and alleges that GM executives knew about the problems with its models but avoided disclosing them to the public. At its maximum, the suit could force the automaker to pay $3 billion.