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    Report: Saleen says it's out of money, owes millions

    Saleen Automotive is best known for building hot numbers including countless tuned Ford Mustang muscle cars, and more recently, for offering a custom version of the Tesla Model S. Unfortunately, the company needs a huge infusion of cash even faster than its cars if it wants to stay on the road ...

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    Report: SEC investigating GM for ignition switch recall

    The aftershocks of General Motors' ignition switch recall keep coming. First, the automaker announced that it saw an 86-percent decrease in net income for the first quarter of 2014 partially due to recall-related expenses. Now, a recent Securities and Exchange Committee filing from GM shows that ...

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    Official: Chrysler files for IPO

    Chrysler has had a lot of owners over the past few years alone, from Daimler to Cerberus to Fiat and the federal government. But it could be poised to gain some more before long. Like, a lot more. The automaker has just announced that it has filed with the US Securities and Exchange Commission ...

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    Report: Department of Justice closing books on Daimler bribery investigation

    An investigation by the US Department of Justice into charges that Daimler bribed officials in 22 countries with "tens of millions of dollars" to win contracts worth hundreds of millions of dollars from 1998 to 2008 has almost come to a close. Daimler paid $195 million in fines to the DoJ and the ...

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    Report: Tesla curbs forecast due to Model S issues, losses total $864.9M

    It ain't easy creating a brand-new automaker from scratch. The fact that Elon Musk and Tesla have actually been able to bring not one, but two cars to market is in itself quite impressive. That said, the road has not been without its bumps, and Tesla is feeling some of the setbacks that come with ...

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    Report: GM admits $600k ad contract went to company of CFO's wife

    Mother is a well-respected ad agency with offices in London, New York and Buenos Aires. Another noteable detail about Mother is that Pernilla Ammann is a partner and COO of Mother New York. That's important, because Mrs. Ammann's husband is General Motors CFO Dan Ammann. Neither point stands out ...

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    Report: Delphi files for $100 million IPO

    2009 was a rough year for most companies in the automotive industry. Delphi, a major automotive parts supplier, saw things a little differently. After entering bankruptcy in 2005, Delphi was able to climb out of its Chapter 11 hole in 2009. Now, two years later, Delphi is heading to Wall Street, ...

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    Report: Chrysler ad spending up 70% in 2011

    With a glut of new and updated models to peddle, Chrysler has reportedly upped its marketing budget to $2.9 billion for 2011, up from $1.72 billion in 2010. The automaker outlined the costs in documents given to the Securities and Exchange Commission. The increase should mean you'll hear more ...

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    Follow-up: Ex-Delphi CEO cleared of fraud, convicted of lesser charges

    A federal jury has cleared Former Delphi CEO J.T. Battenberg of the most serious allegations levied against him by the Securities and Exchange Commission. The SEC had charged both Battenberg and former Delphi accountant Paul Free with a variety of offenses, the most severe of which were fraud ...

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    Report: SEC says ex-Delphi CEO Batterberg misled investors

    According to the Detroit Free Press, the Securities and Exchange Commission has accused former Delphi CEO J.T. Battenberg III of intentionally working to hide his company's financial situation from investors. On Tuesday, an SEC lawyer told the jury in Battenberg's trial that the ex-Delphi boss made ...

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    Former Car Czar Rattner settles with SEC, sued by Cuomo

    Former White House Auto Industry Task Force member Steven Rattner is being sued by New York State Attorney General and Governor-elect Andrew Cuomo for allegedly paying kickbacks to win investments in the state's pension fund. Cuomo is seeking $26 million from Rattner, and to bar him from trading ...

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    Report: Four former Delphi execs set to go on trial

    The Securities and Exchange Commission is moving forward with charges against four former Delphi executives, including the company's ex-CEO, J.T. Battenberg III. Paul Free, the company's former controller and chief accounting officer, Milan Belans, who served as the director of capital planning and ...

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    Followup: GM officials take issue with Whitacre's IPO share price estimates

    It was only last week when Reuters reported that Ed Whitacre, Jr. told the media that General Motors IPO shares would "likely to be priced between $20 and $25 in the initial public offering by the automaker in November." GM didn't respond immediately, but now, like a judge giving instructions to ...

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    Report: Ex-car czar Rattner nears SEC settlement

    According to Reuters, the Securities and Exchange Commission is set to settle with the former head of the Obama Administration's auto task force, Steven Rattner. Earlier this year, the SEC charged Rattner with participating in a pay-to-play pension program, but the commission is expected to ...

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    Report: Feds charge Daimler with paying millions of dollars in bribes

    Over the past five years, the U.S. Department of Justice along with the Securities and Exchange Commission have been investigating allegations that German automaker Daimler and three of its subsidiaries paid tens of millions of dollars in bribes through offshore bank accounts to secure contracts ...

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    Hughes Telematics and Chrysler relationship looks to be over

    Back in 2008 at the Consumer Electronics Show in Las Vegas, we got to spend some time in a Jeep Grand Cherokee outfitted with a bunch of technogoodies from Hughes Telematics. And again at this year's CES, Hughes let us play with even cooler stuff in a Dodge Journey. They bragged of downloadable ...

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    Forbes takes on the 0-60

    0-60 time is the gold standard in automotive performance. It's the first thing an enthusiast looks at when presented with a car's stats, and typically trumps all others. Top speed is all but completely irrelevant in most cases, while the quarter mile is only valued in drag-racing circles. Attempts ...

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    Ford restates earnings and finds an extra $550 million in Q3

    The accountants over at Ford have cleaned off their desks looking for every available financial number between 2001 and 2005 and discovered the company had actually made more money than it originally reported to the Securities and Exchange Commission (SEC). In fact, the $5.8 billion net loss the ...

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    GM's second-largest shareholder unloads some stock, yawn

    We don't want to bore you with all the financial details, so here's the short and (not-so) sweet of it.Capital Research and Management Co. is the second-largest shareholder of General Motors. At the end of June, they held over 60 million shares of the General's stock, or almost 11-percent. ...

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    GM adds a couple hundred mil to Q2 losses; GMAC sale may not come until '07

    Despite the fact that Wall Street is giddy about General Motor's performance in the second quarter of 2006, the automaker still lost $3.2B due mostly to write-downs associated with employee buyouts. Or, rather, make that $3.4B, according to a filing with the Security and Exchange commission. The ...


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