Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Report: GM's Akerson says taxpayer payback will take years]]>http://www.autoblog.com/2010/09/16/report-gms-akerson-says-taxpayer-payback-will-take-years/http://www.autoblog.com/2010/09/16/report-gms-akerson-says-taxpayer-payback-will-take-years/http://www.autoblog.com/2010/09/16/report-gms-akerson-says-taxpayer-payback-will-take-years/#commentsFiled under: ,

Dan Akerson, General Motors CEO

New General Motors CEO Dan Akerson's first bit of big news isn't exactly good news: paying back the taxpayer for loans during GM's dark days is going to take years. How many years remains uncertain, with Akerson saying the company's performance will be the test, since repaying the government in a lump sum would be "unrealistic." It helps that this news isn't exactly unexpected, and if we can take anything from Akerson's 15 days on the job, well, at least he's honest.

[Source: Automotive News - Sub. Req.]

Report: GM's Akerson says taxpayer payback will take years originally appeared on Autoblog on Thu, 16 Sep 2010 13:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>dan akersonDanAkersondaniel akersonDanielAkersongeneral motorsGeneralMotorsgm bankruptcyGmBankruptcyThu, 16 Sep 2010 13:31:00 EST http://www.autoblog.com/feed/19636454/article-comments.xml http://www.autoblog.com/feed/2010/09/16/report-gms-akerson-says-taxpayer-payback-will-take-years/19636454/article-detail.xml 19636454 http://www.blogcdn.com/www.autoblog.com/media/2010/09/was3360646-630op_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/09/was3360646-630op.jpg <![CDATA[California Chevrolet dealer unhappy with arbitration, sues for franchise]]>http://www.autoblog.com/2010/08/17/california-chevrolet-dealer-unhappy-with-arbitration-sues-for-f/http://www.autoblog.com/2010/08/17/california-chevrolet-dealer-unhappy-with-arbitration-sues-for-f/http://www.autoblog.com/2010/08/17/california-chevrolet-dealer-unhappy-with-arbitration-sues-for-f/#commentsFiled under: , ,

When General Motors announced a couple of weeks ago that it had completed the arbitration process with all of its discontinued dealers, the automaker no doubt hoped that its painful retail shrinkage process was over. But sadly, it was not to be - Rally Auto Group of Palmdale, CA, is apparently not quite ready to call it quits.

The arbiter in Rally's case removed the dealer's Chevrolet franchise and awarded it to a Saturn dealer that was located nearby; but allowed Rally to keep its Cadillac, Buick and GMC dealerships. Rally claims that, under the law passed by congress last year that created the dealer arbitration process, the arbiter should not have split the franchises but rather kept the whole dealership together or ordered it closed in its entirety.

So far, Rally is the only GM dealer to sue in the wake of the arbitration process, though three Chrysler dealers have also reportedly sued.

[Source: Automotive News - Sub. Req'd]

California Chevrolet dealer unhappy with arbitration, sues for franchise originally appeared on Autoblog on Tue, 17 Aug 2010 09:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>general motorsgeneral motors dealer arbitrationgeneral motors dealer reinstatementgeneral motors dealersGeneralMotorsGeneralMotorsDealerArbitrationGeneralMotorsDealerReinstatementGeneralMotorsDealersgmgm bankruptcyGM dealergm dealer arbitrationgm dealer closingsgm dealer lawsuitgm dealersgm dealershipgm dealership closingsgm dealershipsGmBankruptcyGmDealerGmDealerArbitrationGmDealerClosingsGmDealerLawsuitGmDealersGmDealershipGmDealershipClosingsGmDealershipsrally auto groupRallyAutoGroupTue, 17 Aug 2010 09:30:00 EST http://www.autoblog.com/feed/19594341/article-comments.xml http://www.autoblog.com/feed/2010/08/17/california-chevrolet-dealer-unhappy-with-arbitration-sues-for-f/19594341/article-detail.xml 19594341 http://www.blogcdn.com/www.autoblog.com/media/2010/08/rally-chevy_thumbnail.png http://www.blogcdn.com/www.autoblog.com/media/2010/08/rally-chevy.png <![CDATA[GM eliminates 2,000 dealers, will end year with 4,500 showrooms]]>http://www.autoblog.com/2010/07/07/gm-eliminates-2-000-dealers-will-end-year-with-4-500-showrooms/http://www.autoblog.com/2010/07/07/gm-eliminates-2-000-dealers-will-end-year-with-4-500-showrooms/http://www.autoblog.com/2010/07/07/gm-eliminates-2-000-dealers-will-end-year-with-4-500-showrooms/#commentsFiled under: ,



A little more than a year ago, General Motors had in excess of 6,000 dealerships across the country. In the viability plan GM submitted to Congress the automaker stated it would shut down 400 dealerships every year, shedding 1,600 of them by 2012. The General said it eventually wanted to get down to 4,000 showrooms at some point in the future. According the the latest reports, GM is well ahead of its own schedule: it will have just 4,500 dealership by the end of this year, a 1,650-site drop from last year.

Those are the most recent words of Mark Reuss, GM's head of North America. And while his assessment includes the latest round of arbitration hearings with dealers who didn't want their agreements terminated, there are still pending arbitration cases. Reuss' estimate is meant to take those into account, but since the original spread was anywhere from 4,100 to 5,300 dealers, his number could go up or down.

Even if GM ended up with 5,300 dealers at year's end it would be an 850-dealer drop from last year, more than doubling GM's original goal. Yes, it remains far more than the number of storefronts run by mass-market Toyota, which only has about 1,500. But it's a start.

[Source: Detroit News | Image: Mark Wilson/Getty]

GM eliminates 2,000 dealers, will end year with 4,500 showrooms originally appeared on Autoblog on Wed, 07 Jul 2010 07:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>dealer arbitrationDealerArbitrationdealersdealershipgeneral motorsGeneralMotorsgm bailoutgm bankruptcygm dealershipsGmBailoutGmBankruptcyGmDealershipsWed, 07 Jul 2010 07:27:00 EST http://www.autoblog.com/feed/19536028/article-comments.xml http://www.autoblog.com/feed/2010/07/07/gm-eliminates-2-000-dealers-will-end-year-with-4-500-showrooms/19536028/article-detail.xml 19536028 http://www.blogcdn.com/www.autoblog.com/media/2010/07/gyi0058121150-630op_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/07/gyi0058121150-630op.jpg <![CDATA[Report: GM to announce repayment of federal loans in full on Wednesday]]>http://www.autoblog.com/2010/04/19/report-gm-to-announce-repayment-of-federal-loans-in-full-on-wed/http://www.autoblog.com/2010/04/19/report-gm-to-announce-repayment-of-federal-loans-in-full-on-wed/http://www.autoblog.com/2010/04/19/report-gm-to-announce-repayment-of-federal-loans-in-full-on-wed/#commentsFiled under: , ,



According to The Detroit News, General Motors will announce that it is fully repaying the federal loans it received last summer from both the United States and Canadian governments. In total, General Motors will have paid back about $6.7 billion ($2 billion of which has already been returned) of the $50 billion it received from the U.S., the majority of which was recovered by acquiring a 61-percent share of the automaker.

For those keeping track of such things and assuming this report is accurate, GM will have paid the entire amount agreed upon with the U.S. Treasury a full two months earlier than anticipated. This accelerated schedule is said to be seen as good news by both the automaker and the federal government. We'd guess that this is also a sign that GM is likely still on track for an initial public offering sometime this year.

GM CEO Ed Whitacre is expected to make the announcement on Wednesday when he makes a speech at a GM plant in Kansas. Later that day, Whitacre will make his first appearance at Capitol Hill since taking over at the head of the company in January. For what it's worth, the automaker has also called a press conference on Wednesday that we'll be attending. Stay tuned.

[Source: Detroit News | Image: Bill Pugliano/Getty]

Report: GM to announce repayment of federal loans in full on Wednesday originally appeared on Autoblog on Mon, 19 Apr 2010 18:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>general motorsGeneralMotorsgmgm bailoutgm bankruptcygm loanGM loan paymentgm loansgm paymentgm repay loansgm repaymentgm treasuryGmBailoutGmBankruptcyGmLoanGmLoanPaymentGmLoansGmPaymentGmRepayLoansGmRepaymentGmTreasuryrepay loansRepayLoansus treasuryUsTreasuryMon, 19 Apr 2010 18:00:00 EST http://www.autoblog.com/feed/19445911/article-comments.xml http://www.autoblog.com/feed/2010/04/19/report-gm-to-announce-repayment-of-federal-loans-in-full-on-wed/19445911/article-detail.xml 19445911 http://www.blogcdn.com/www.autoblog.com/media/2009/11/88005399-630op_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/11/88005399-630op.jpg <![CDATA[How is it that GM is still worth more than Ford?]]>http://www.autoblog.com/2010/04/19/how-is-it-that-gm-is-still-worth-more-than-ford/http://www.autoblog.com/2010/04/19/how-is-it-that-gm-is-still-worth-more-than-ford/http://www.autoblog.com/2010/04/19/how-is-it-that-gm-is-still-worth-more-than-ford/#commentsFiled under: , , , , ,

General Motors, which hasn't been allowed to forget its recent financial propping up by all of us, is apparently still worth more than Ford Motor Company. That's a dubious fact that sticks in the craw of Detroit Free Press columnist Tom Walsh. Ford, you'll recall, preemptively mortgaged itself up to, and including its dental fillings to avoid the fate that befell GM and Chrysler. What's not computing for Walsh is that despite clearer financial leadership, Ford is still worth less according to the trading price of Motors Liquidation bonds, the entrails of old GM.

The whole thing is buried in a bunch of financial mumbo-jumbo, and the value of Motors Liquidation bonds are tied to bets on the success of a future initial public offering of the new GM. Sound excessively creative and possibly even irrationally exuberant? Despite having its most solid lineup in years and aggressively trimming brands, dealers, and liabilities, the General is clearly not out of the woods yet. Perhaps to market gamblers, GM is looking good right now, but there are plenty of hurdles to clear before its bailout is a true success.

In comparison, Ford is likely to post a profit this year, and GM will have to put up some good numbers for a few quarters to keep investors thinking that it's a worthwhile investment.

[Source: Detroit Free Press]

How is it that GM is still worth more than Ford? originally appeared on Autoblog on Mon, 19 Apr 2010 13:41:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Blue OvalBlueOvalfordFord earningsford worthFordEarningsFordWorthgeneral motorsgeneral motors bankruptgeneral motors ipogeneral motors profitGeneralMotorsGeneralMotorsBankruptGeneralMotorsIpoGeneralMotorsProfitGM bankruptcyGM earningsgm profitgm worthGmBankruptcyGmEarningsGmProfitGmWorthmotors liquidationMotorsLiquidationMon, 19 Apr 2010 13:41:00 EST http://www.autoblog.com/feed/19444632/article-comments.xml http://www.autoblog.com/feed/2010/04/19/how-is-it-that-gm-is-still-worth-more-than-ford/19444632/article-detail.xml 19444632 http://www.blogcdn.com/www.autoblog.com/media/2010/04/gmlogodollarsign_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/04/gmlogodollarsign.jpg <![CDATA[Christmas List 2010: Rattner's book to debut in time for next Christmas]]>http://www.autoblog.com/2009/12/18/christmas-list-2010-rattners-book-to-debut-in-time-for-next-ch/http://www.autoblog.com/2009/12/18/christmas-list-2010-rattners-book-to-debut-in-time-for-next-ch/http://www.autoblog.com/2009/12/18/christmas-list-2010-rattners-book-to-debut-in-time-for-next-ch/#commentsFiled under: , , , ,



Planning for the future is perhaps an alien concept to big business - even automakers, with their protracted product development cycles. Take a cue of what not to do from them, then, and start planning now for next Christmas. May we suggest that your 2010 wishlist starts with what's destined to be a hotly-anticipated tome: Steven Rattner's memoir of his spearheading the bailout of General Motors and Chrysler. Tentatively titled "Overhaul," the cloyingly-named book will tell the story of the quick-rinse bankruptcies Rattner presided over.

A fascinating piece that Rattner wrote for Fortune Magazine back in October gave us a glimpse of how riveting such a seemingly-dry subject can be. The book is on track for a debut in the fall of 2010, and might be even more interesting in a year depending on how Rattner's deals work out. The hardest part is going to be behaving well enough for an entire year so this thing gets stuffed in our stocking.

[Source: The Detroit News | Image: Neilson Barnard/Getty]

Christmas List 2010: Rattner's book to debut in time for next Christmas originally appeared on Autoblog on Fri, 18 Dec 2009 10:03:00 EST. Please see our terms for use of feeds.

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While defending the government bailout of America's auto industry, Herb Allison (above), the Treasury Department's assistant secretary for financial stability, said that a General Motors initial public offering is still a go for next year. While Allison still believes it was essential to safeguard the security of our financial system, he claims that the deal to bail out the auto industry has always been seen as a temporary situation:
"Our investments in the automobile industry and other companies that have received exceptional assistance are limited and temporary. Chrysler Financial has already repaid its assistance, and an initial public offering for GM is expected next year," Allison said.
According to The Detroit News, the Treasury is getting things in place to begin selling off their 60.8% equity stake in GM. It will take several years to divest themselves of GM stock, but the IPO should happen sometime in 2010. An initial public offering for Chrysler is still a ways off.

[Source: The Detroit News | Image: Mandel Ngan/AFP/Getty Images]

REPORT: General Motor still on track for 2010 IPO originally appeared on Autoblog on Mon, 28 Sep 2009 16:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bailoutbankruptbankruptcygeneral motorsgeneral motors corp.General Motors IPOGeneralMotorsGeneralMotorsCorp.GeneralMotorsIpogmgm bankruptcygm ipoGmBankruptcyGmIpoHerbert AllisonHerbertAllisonIPOreportMon, 28 Sep 2009 16:29:00 EST http://www.autoblog.com/feed/19176862/article-comments.xml http://www.autoblog.com/feed/2009/09/28/report-general-motor-still-on-track-for-2010-ipo/19176862/article-detail.xml 19176862 http://www.blogcdn.com/www.autoblog.com/media/2009/09/bilde_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/09/bilde.jpg <![CDATA[REPORT: GM gets out from under its polluted sites scot-free]]>http://www.autoblog.com/2009/08/07/report-gm-gets-out-from-under-its-polluted-sites-scot-free/http://www.autoblog.com/2009/08/07/report-gm-gets-out-from-under-its-polluted-sites-scot-free/http://www.autoblog.com/2009/08/07/report-gm-gets-out-from-under-its-polluted-sites-scot-free/#commentsFiled under: , ,



Among those clamoring for attention and payouts from Motors Liquidation Co., the company that assumed General Motors' unwanted assets after its Chapter 11 filing, are the environmental and economic redevelopment departments of state governments. According to reports, when GM exited bankruptcy, its polluted factory and land sites were consumed by the Motor Liquidation, allowing the automaker to avoid the responsibility of cleaning up its mess, and state leaders fear there won't be any money to clean the locations.

Before bankruptcy, GM estimated it had $1.9 billion in environmental issues and litigation liabilites. Motors Liquidation Co., though, has only about $1.2 billion to manage the entire wind-down of its affairs -- and as one might expect, attorneys handling the matter are expected to get a huge chunk of that. The figure to clean up sites in places like Buick City (pictured, before the buildings were demolished), Michigan and Massena, New York has been pegged at $530 million. However, the way it's looking, there won't be anywhere near that much money to get the job done.

The affected areas are afraid they will have to pay for the clean ups or simply let the land go unused. The problem with that: those local governments don't have the money. And they can't expect a developer to spend millions to clean up an old mess. If not Motors Liquidation or GM, civic representatives want the government to foot the bill since the current administration orchestrated the deal. No one knows how it will -- or won't -- be resolved, but the EPA has said that it's in touch with states and Motors Liquidation to "identify any environmental cleanup requirements that existed at the time of bankruptcy."

[Source: Freep | Photo Credit: Plan59]

REPORT: GM gets out from under its polluted sites scot-free originally appeared on Autoblog on Fri, 07 Aug 2009 19:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>environmentenvironmentalfactoriesgeneral motorsGeneralMotorsgmgm bankruptcyGmBankruptcygovernmentlegalmichiganmotors liquidation coMotorsLiquidationConew yorkNewYorkplantspollutionFri, 07 Aug 2009 19:01:00 EST http://www.autoblog.com/feed/19122471/article-comments.xml http://www.autoblog.com/feed/2009/08/07/report-gm-gets-out-from-under-its-polluted-sites-scot-free/19122471/article-detail.xml 19122471 http://www.blogcdn.com/www.autoblog.com/media/2009/08/buick_city_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/08/buick_city.jpg <![CDATA[REPORT: New GM entitled to $16 billion in federal tax breaks courtesy of Old GM]]>http://www.autoblog.com/2009/08/04/report-new-gm-entitled-to-16-billion-in-federal-tax-breaks-cou/http://www.autoblog.com/2009/08/04/report-new-gm-entitled-to-16-billion-in-federal-tax-breaks-cou/http://www.autoblog.com/2009/08/04/report-new-gm-entitled-to-16-billion-in-federal-tax-breaks-cou/#commentsFiled under: , ,



Due to what appears to be a slight (additional) bending of the rules, the "new," post-bankruptcy General Motors has been allowed to carry the $16 billion net operating loss that was created by the "old" GM. That means that New GM will not have to pay taxes on its profits for a while, because the profits can be written off by the losses.

The issue is that the move, called a "tax-loss carry forward," isn't supposed to be available to the automaker. The tax code contains provisions that prohibit a profitable company from buying an unprofitable company for the sole purpose of claiming the unprofitable company's tax losses - and the type of bankruptcy GM went through should have precluded The General's ability to use the tax loss practice.

Except for the fact that GM was bought by the government, and since the government writes the tax code and collects said taxes, it can decide how it wants to handle the companies it owns. General Motors says the move will bolster its "cash position to the benefit of all parties." Critics, on the other hand, say that GM got a $16 billion unfair head start on Ford. Hat tip to Adrian.

[Source: The Wall Street Journal | Image: Jim Watson/AFP/Getty]

REPORT: New GM entitled to $16 billion in federal tax breaks courtesy of Old GM originally appeared on Autoblog on Tue, 04 Aug 2009 08:27:00 EST. Please see our terms for use of feeds.

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The short version: old General Motors is worthless, new General Motors is... well, less worthless. The Securities and Exchange Commission has already warned us that Motors Liquidation Company, the new name for the leftover scraps of GM, is not expected to return any value to stockholders. Despite this, the stock still has a fractional dollar value assigned to it, and some investors are still trading it. Yesterday, shares dipped 52%, closing at 55 cents.

The newly created "good" GM emerged from bankruptcy less than a week ago, and what's left at Motors Liquidation, still publicly traded, is highly unlikely to return any value, as Motors Liquidation will still be underwater after Chapter 11 fire sales are over. Bloomberg reports that this shell of the former company has 16 shuttered plants to sell off, as well as a nine hole golf course in New Jersey (we're as confused as you are), and of course, it is still beholden to unsecured creditors and also still holds the bag for lawsuit liabilities, too. Warnings are being clearly stated and more and more investors appear to be cottoning on to the reality that MLC stock doesn't hold much water, which explains the stock's precipitous decline.

[Source: Bloomberg via STLtoday]

Paging Captain Obvious: Liquidation Motors reportedly tanks in trading originally appeared on Autoblog on Thu, 16 Jul 2009 09:57:00 EST. Please see our terms for use of feeds.

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Click above for the Autoblog Podcast in iTunes, RSS or listen now!

Episode #135 of the Autoblog Podcast is here. Chris, Sam and Dan took time out to chat about GM's fast-moving reorganization, Smart's dubious $99/month deal, raising gas taxes as a better way to increase fuel economy, and Shunk's new car dilemma. To wrap up, we hit a question, and that's it - a nice, tidy 65-minute affair. Tell us how we're doing by filling out our survey, if you haven't already, and we'll see you next week. In the meantime, you can drop us a note at Podcast at Autoblog dot com. Thanks for listening!

Continue reading Autoblog Podcast #135

Autoblog Podcast #135 originally appeared on Autoblog on Thu, 09 Jul 2009 11:41:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>autoblog podcastautoblog podcast 135AutoblogPodcastAutoblogPodcast135featuredgeneral motorsGeneralMotorsgm bankruptcyGmBankruptcypodcastpodcast 135Podcast135smartsmart carsmart fortwoSmartCarSmartFortwowall street journalwall street journal cafeWallStreetJournalWallStreetJournalCafewsjThu, 09 Jul 2009 11:41:00 ESTAutoblog Podcast #135Autoblog65:00autoblog podcast, podcast, http://www.autoblog.com/feed/19091493/article-comments.xml http://www.autoblog.com/feed/2009/07/09/autoblog-podcast-135/19091493/article-detail.xml 19091493 http://www.blogcdn.com/www.autoblog.com/media/2008/07/autoblog-podcast_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2008/07/autoblog-podcast.jpg <![CDATA[The Greenwash to End All Greenwashing? GM reportedly pondering changing logo color]]>http://www.autoblog.com/2009/07/09/the-greenwash-to-end-all-greenwashing-gm-reportedly-pondering-c/http://www.autoblog.com/2009/07/09/the-greenwash-to-end-all-greenwashing-gm-reportedly-pondering-c/http://www.autoblog.com/2009/07/09/the-greenwash-to-end-all-greenwashing-gm-reportedly-pondering-c/#commentsFiled under: , ,


2010 Chevy Spark - Click above for high-res image gallery

General Motors has certainly been pumping out a greener message for the last few years, but, on the eve of its likely emergence from bankruptcy, it looks like it might be ridiculously difficult to miss the company's shift to a new and very public eco-mindset: The General's traditional blue square logo could become green. No, really.

While no official decision has yet been made, insiders are saying that the background color change is being considered, "in an effort to show consumers that it is leaner and greener, more focused on fuel efficiency and better able to make quick decisions," says MSNBC.

The fuel efficiency meaning of a possible new green logo is easy to understand and the "quick decisions" part reflects a new GM that will likely have 35 percent fewer executives to go along with fewer employees overall. More announcements on these issues and the fate of the Spark minicar could come tomorrow, when GM is expected to emerge from bankruptcy.

The real color change that GM needs to make, of course, is a shift from red to black - but that's significantly harder than swapping pixels in a logo.


Gallery: Geneva 2009: Chevy Spark


[Source: MSNBC | Logo Image: Adam Morath/AOL]

The Greenwash to End All Greenwashing? GM reportedly pondering changing logo color originally appeared on Autoblog on Thu, 09 Jul 2009 10:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>emblemgeneral motors green logogeneral motors logoGeneralMotorsGreenLogoGeneralMotorsLogogmgm bankruptcygm greengm green logogm logoGmBankruptcyGmGreenGmGreenLogoGmLogogreen gmgreen logo goGreenGmGreenLogoGoiconographylogonew gmNewGmThu, 09 Jul 2009 10:27:00 EST http://www.autoblog.com/feed/19091900/article-comments.xml http://www.autoblog.com/feed/2009/07/09/the-greenwash-to-end-all-greenwashing-gm-reportedly-pondering-c/19091900/article-detail.xml 19091900 http://www.blogcdn.com/www.autobloggreen.com/media/2009/06/spark-2-580-2c_thumbnail.jpg http://www.blogcdn.com/www.autobloggreen.com/media/2009/06/spark-2-580-2c.jpg <![CDATA[WSJ Column: Higher gas taxes better strategy than CAFE to save GM]]>http://www.autoblog.com/2009/07/06/wsj-higher-gas-taxes-much-better-than-cafe-to-save-gm/http://www.autoblog.com/2009/07/06/wsj-higher-gas-taxes-much-better-than-cafe-to-save-gm/http://www.autoblog.com/2009/07/06/wsj-higher-gas-taxes-much-better-than-cafe-to-save-gm/#commentsFiled under:


2009 Chevrolet Cruze - Click above for high-res image gallery

Ford Executive Chairman Bill Ford and AutoNation CEO Mike Jackson were just two voices that spoke out in favor of a higher gas tax earlier this year. While we took the Cato Institute's Alan Reynolds to task for muddying the waters of the "Toyota-licensed hybrid Fusion", there's reason to look deeper at his argument (published in The Wall Street Journal) which maintains that a higher gas tax isn't just a good way to encourage sensible car purchases, it also stands to be helpful in saving troubled domestic automakers like General Motors. Reynolds writes:
The federal fuel tax is highest on the most efficient fuel (diesel) and below zero on the least efficient fuel (ethanol). Cars get about 30% better mileage on diesel than on gasoline, and cars running mainly on gasoline get about 30% better mileage than they would using 85% ethanol.

To stop distorting consumer choices, simply apply the same 24-cent-a-gallon federal tax to gasoline and ethanol as we do to diesel. This would add funds to the depleted federal highway trust. More importantly, it would remove an irrational tax penalty on buying diesel-powered cars -- arguably the most cost-effective way to improve mileage without reducing car size or performance.
Since GM, already on the government dole, sells (proportionally) so many large vehicles, it will need to sell more smaller or diesel-powered vehicles to offset its truck fleet and to meet upcoming CAFE standards. Reynolds doesn't think CAFE is a good idea, and claims there's a better way to make sure GM survives. Reynolds says that a higher gas tax would allow the Detroit automaker to keep building the cars it builds best ("midsize and large sedans, sports cars, pickup trucks and SUVs"). Only by upping the gas tax and totally scrapping CAFE, Reynolds says, will GM not be forced to take even more money to survive - and to pay the CAFE fines it's sure to acquire. Doing so would also allow The General to not waste "more taxpayer money on 'retooling' to produce unwanted and unprofitable subcompacts and electric cars."


Gallery: Paris 2008: Chevrolet Cruze


[Source: Wall Street Journal]

WSJ Column: Higher gas taxes better strategy than CAFE to save GM originally appeared on Autoblog on Mon, 06 Jul 2009 18:30:00 EST. Please see our terms for use of feeds.

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The dynamic duo of Chris and Sam carry off Episode #133 of the Autoblog Podcast without a hitch. Though down a man, the pair didn't cheap out on topics or duration, it's the same podcast goodness. It kicks off with Hyundai's impressive showing in the recently released Initial Quality Survey results. From there, they hit Chrysler's RWD/FWD dilemma with its Sebring/Avenger replacement, the rumor that Mustangs could have had IRS for $100 per car, and reports of an Ecotec engine for the Buick LaCrosse. Keeping it on the Buick tip, spyshots of a Tri-Shield variant of the new 2010 Astra get mentioned. The nullification of all pre-bankruptcy liability claims against GM and Chrysler is next before talk settles briefly on Hyundai's 2010-on lineup and then turns to your questions. It almost seems like the Chris and Sam show is a juggernaut without that other guy. Thanks for listening, and please, keep your questions and comments rolling in to Podcast at Autoblog dot com.

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Continue reading Autoblog Podcast #133

Autoblog Podcast #133 originally appeared on Autoblog on Wed, 24 Jun 2009 13:29:00 EST. Please see our terms for use of feeds.

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We don't have much to go on yet, but Swedish television is reportedly claiming that Koenigsegg, makers of ultra high-performance exotic supercars, and a group of Norwegian investors have signed a letter of intent with Saab to take over the brand from General Motors. Final negotiations will reportedly take place in the coming months.

Along with Saturn and Hummer, Saab was put up for sale by GM before the automaker filed for Chapter 11 bankruptcy. Many companies and investor groups from all over the world, including China, were reportedly interested in the Swedish brand, and despite how crazy it sounds, Koenigsegg was thrown into the list of finalists late last month. What we thought was crazy has reportedly come to pass.

Do you think Koenigsegg and Saab, two automotive brands that share a home country and sell completely different kinds of cars, will work well together? Let us know in the poll below and we'll keep you updated as the story unfolds.

View Poll



[Source: Reuters, SVT (translated)]

BREAKING: Swedish TV reports Koenigsegg buying Saab originally appeared on Autoblog on Thu, 11 Jun 2009 11:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>breakinggeneral motorsGeneralMotorsgmgm bankruptcyGmBankruptcykoenigseggkoenigsegg saabKoenigseggSaabsaabsaab boughtSaabBoughtThu, 11 Jun 2009 11:32:00 EST http://www.autoblog.com/feed/19064496/article-comments.xml http://www.autoblog.com/feed/2009/06/11/breaking-swedish-tv-reports-koenigsegg-buying-saab/19064496/article-detail.xml 19064496 http://www.blogcdn.com/www.autoblog.com/media/2009/06/koenigsegg_brand_image_opt_thumbnail.png http://www.blogcdn.com/www.autoblog.com/media/2009/06/koenigsegg_brand_image_opt.png <![CDATA[GM grants reprieve to 30 dealers, reviewing more]]>http://www.autoblog.com/2009/06/11/gm-grants-reprieve-to-30-dealers-reviewing-more/http://www.autoblog.com/2009/06/11/gm-grants-reprieve-to-30-dealers-reviewing-more/http://www.autoblog.com/2009/06/11/gm-grants-reprieve-to-30-dealers-reviewing-more/#commentsFiled under: ,



General Motors wants to shrink its dealer network by around 2,500 outlets and has sent closure notices to more than a thousand already. Still, the General has left a door open that allows affected dealers to appeal the decision and show proof of why they should not be cut from the herd.

According to reports, almost the entire affected body of dealers appealed, and 500 of those appeals are still pending. Thirty dealers have had their sentences overturned and will be allowed to stay open. It is good news for the dealers... and yet the math remains the math: strorefronts have got to go.

[Source: Automotive News, sub. req'd | Photo by MARK RALSTON/AFP/Getty]

GM grants reprieve to 30 dealers, reviewing more originally appeared on Autoblog on Thu, 11 Jun 2009 10:29:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcydealerdealersdealershipdealershipsfinancialsgeneral motorsGeneralMotorsgmgm bankruptcyGmBankruptcyThu, 11 Jun 2009 10:29:00 EST http://www.autoblog.com/feed/19063674/article-comments.xml http://www.autoblog.com/feed/2009/06/11/gm-grants-reprieve-to-30-dealers-reviewing-more/19063674/article-detail.xml 19063674 http://www.blogcdn.com/www.autoblog.com/media/2009/06/88019173_opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2009/06/88019173_opt.jpg <![CDATA[REPORT: Cheney says Bush left GM bankruptcy for the next guy]]>http://www.autoblog.com/2009/06/09/cheney-bush-left-gm-bankruptcy-for-the-next-guy/http://www.autoblog.com/2009/06/09/cheney-bush-left-gm-bankruptcy-for-the-next-guy/http://www.autoblog.com/2009/06/09/cheney-bush-left-gm-bankruptcy-for-the-next-guy/#commentsFiled under: , ,



The writing's been on the wall for years: GM would have to declare bankruptcy if it had any hope of restructuring in order to survive in the long-term. And though the Obama administration's effective take-over of General Motors was hardly the first case of the government nationalizing a private company, President George W. Bush didn't want to be the one to do it.

This, according to former vice-president Dick Cheney, who reportedly admitted in a recent interview on Fox News that the Bush administration floated the $17.4 billion auto industry bailout package in order to give the outgoing administration enough time to exit and for the next administration to settle in before the house of cards in Detroit came tumbling down. According to Cheney, President Bush "decided that he did not want to be the one who pulled the plug just before he left office."

[Source: Motor Authority | Image: Mark Wilson/Getty]

REPORT: Cheney says Bush left GM bankruptcy for the next guy originally appeared on Autoblog on Tue, 09 Jun 2009 08:27:00 EST. Please see our terms for use of feeds.

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Many of us ABers being in our early- to mid-30s, we're less amazed that another of our ilk has risen to a decisive government position. We are, after all, a generation on the rise. The surprising part about Brian Deese's story is that he's been instrumental in shaping the Obama administration's moves to save General Motors, and this is his first official tour of duty in Washington. What qualifies a guy who hasn't even finished his Yale Law degree to steer President's automotive task force around? From what's been said about Mr. Deese, his quick ability to boil down the often competing economic and political aspects of any given issue.

Deese piped up in favor of Fiat's rescue of Chrysler, pointing out with a memo that a fire sale of the ailing automaker would send unforseen ripples out into the economy as a whole. Speaking out in such an influential manner is definitely unusual considering Deese doesn't appear to be an auto enthusiast or business propeller-head with his nose buried in studies and reports about the car industry. A childhood spent in the Boston suburb of Belmont, Massachusetts under the parentage of a college professor an an engineer, Deese did his undergraduate time at Middlebury College in Vermont before heading to Washington to work for Nancy Birdsall on international aid. A turn with former Clinton policy wonk Gene Sperling before the move to Yale, Hillary Clinton's bid for nomination brought Deese back to DC. With friends in Washington, Deese found himself hooked into the Obama team, and from there he's been running busily around our nation's capital.

If General Motors can successfully navigate Chapter 11, we'll all get to see just how well Brian Deese has done digesting the thorny chestnut that is saving our domestic auto industry.

[Source: The New York Times, Image: Maxhawkins - CC2.0]

Meet Brian Deese, the 31-year-old in charge of breaking up GM originally appeared on Autoblog on Fri, 05 Jun 2009 10:31:00 EST. Please see our terms for use of feeds.

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General Motors makes more than a few world-class automobiles. As true as that statement may be, that alone wasn't enough to stall the automaker's steady decline - fueled as it may have been by the global economic downturn - into Chapter 11 bankruptcy. To expedite GM's return to viability, the Obama Administration plans to split the giant automaker into two parts, a so-called "Good GM" made up of GM's best assets and "Bad GM," which is what we're examining in today's Top Ten list.

In case you're not aware, Bad GM happens to include the entire lines from HUMMER, Pontiac, Saab and Saturn. Instead of dwelling on the oft ignored, underdeveloped and stagnant vehicles in Bad GM's lineup, we're taking a look at the best that Bad GM has to offer. Try as we might to make this into a true Top Ten list, we were only able to come up with seven suitable vehicles to lament - which admittedly does tell us something. Some were obvious, a few not so much. That said, follow along as we pick the Top 7 Good Cars from Bad GM.

Top 7 Good Cars From "Bad GM" originally appeared on Autoblog on Wed, 03 Jun 2009 12:30:00 EST. Please see our terms for use of feeds.

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Click above for the Autoblog Podcast in iTunes, RSS or listen now!

Episode #130 of the Autoblog Podcast sees Chris, Sam, and Dan kibbitzing over the obvious news, but it's not an All-GM-Bankruptcy show. Starting with General Motors (after all, it's a huge event) we move on to Magna's deal with Opel (and GM, coincidentally). Volvo's clever implementation of a diesel hybrid in its wagon comes next before talk turns to Fiat-based Chryslers. It all wraps up at about an hour and a half after we polish off some of your questions. Thanks for listening, hit us up at Podcast at autoblog dot com with questions/comments/praise/scorn.

Follow the jump to subscribe to the Autoblog Podcast in iTunes, add the show to your RSS aggregator... or listen to it right now!

Continue reading Autoblog Podcast #130

Autoblog Podcast #130 originally appeared on Autoblog on Tue, 02 Jun 2009 16:45:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>autoblog podcastAutoblogPodcastchryslerchrysler fiatchrysler fiat alliancechrysler fiat dealchrysler fiat partnerchrysler fiat partnershipchrysler llcchryslerbankruptcyChryslerFiatChryslerFiatAllianceChryslerFiatDealChryslerFiatPartnerChryslerFiatPartnershipChryslerLlcfeaturedgm bankrupgm bankruptgm bankruptcygm bankruptcy commercialgm bankruptcy june 1GmBankrupGmBankruptGmBankruptcyGmBankruptcyCommercialGmBankruptcyJune1magnamagna opelMagnaOpelpodcastpodcast 130podcast episodePodcast130PodcastEpisodevolvovolvo hybridvolvo hybrid wagonvolvo wagonVolvoHybridVolvoHybridWagonVolvoWagonTue, 02 Jun 2009 16:45:00 ESTAutoblog Podcast #130Autoblog98:00 http://www.autoblog.com/feed/19055369/article-comments.xml http://www.autoblog.com/feed/2009/06/02/autoblog-podcast-130/19055369/article-detail.xml 19055369 http://www.blogcdn.com/www.autoblog.com/media/2008/07/autoblog-podcast_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2008/07/autoblog-podcast.jpg -1 2