Automotive supplier Dana has finalized the restatement of its profits over the last five years, reducing its stated net income by $44M - approximately 20% of its profit over that period of time. Since the stock already took a 30% hit upon the first announcement of the accounting problems, there was no further significant drop.
Constant-velocity joints pose severe limitations to designers of automotive drivetrains and suspensions, as these components are bulky, heavy, and are limited in the amount of angle through which they can operate. GKN's new Countertrack and Crosstrack joints, however, use a subtly different system of tracks for the joint's balls, and this allows them to be made 8% smaller, 15% lighter, 30% more efficient, and operate through a increased range of angles (up to 50 degrees). That last feature is es
Mr. McGuire's famous one word of advice in The Graduate was "Plastics", but I bet he didn't see this one coming. Amerityre, the manufacturer of off-road closed-cell polyurethane tires (for products such as bicycles, garden equipment, and wheelchairs), is working on perfecting a process to bond polyurethane treads to conventional rubber tire carcasses. Such a process, if applied to heavy-duty over-the-road retreaded tires, could potentially reduce tread separation while increasing milea
John Diebold, writer of the book Automation and huge advocate of using computers in business, has died at the age of 79.
Sheesh, like domestic automobile manufacturers don't have enough to worry about without special interest groups jumping all over their stuff... General Motors' Affinity Group, which allows various minorities to develop affinity groups, has come under fire recently because it does not provision for Christians to organize a similar group.
The Vietnam assembly effort comes as part of a joint-venture with the nation's Defense Ministry, an arrangement reached in November. Terms of the deal were not disclosed.
Yesterday I attended the San Diego International Auto Show held at the San Diego Convention Center. Until then, I had only attended one other show, also sponsored by Motor Trend Auto Shows, Inc., the California International Auto Show held in Anaheim, California.
Two-time world rally champion Carlos Sainz (ab0ve) has won Stage 1 of the Dakar Rally for Volkswagen. A rally-raid newcomer, Sainz excelled in the muddy Special Stage within the first stage from Lisbon to Portimao, flying through the 83 km in 56 min 20 sec, 1 min 30 sec clear of Portugal's Carlos Sousa.
According to Lafayette's Journal and Courier, Subaru is preparing to announce that its controversial B9 Tribeca has propelled the automaker to a U.S. sales record in 2005. But all is not as it seems.
The Peninsula Hotel in Chicago has an ultra-ultra-ultra-luxury New Year's package to end all ultra-ultra-ultra-luxury packages. In fact, it's the Pen-Ultimate New Year's Package. The $3 million stay includes two nights at the hotel in the very best room in the hotel (and arguably the best room in Chicago), complimentary caviar and full bar in the room, your own personal valet, a private party for you and your friends, and best yet -- you get to keep the 2005 Bentley they cart you around in, alon
Call it a solid week for the General's lawyers. Earlier today, Autoblog told you about a Chicago appeals court upholding GM's position on sponsoring religious groups. On the heels of this news comes a Michigan appeals court verdict overturning a $6.2 million age discrimination judgment against the automaker.
The 7th U.S. Circuit Court of Appeals in Chicago has upheld a verdict in favor of General Motors, after a born-again Christian employee sued the automaker for religious discrimination. The case stemmed from 43-year-old computer engineer John Moranski, who petitioned GM to form a company-sponsored Christian group.