June 16, 2010 at 12:55 p.m.
Filed under:
Autos,
Labor
Reuters | The United Auto Workers Wednesday overwhelmingly
elected Bob King as president, to lead the union into contract talks in
2011 expected to center on Ford Motor Co and on calls to win back
concessions made during the U.S. auto industry’s recent crisis.
King, 63, succeeds Ron Gettelfinger, who served eight years as
president and oversaw the union during a period of growing difficulty
for the U.S. auto industry that culminated with the bankruptcies of
General Motors Co and Chrysler Group LLC.
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June 14, 2010 at 6:40 a.m.
Filed under:
Autos,
Energy
Tribune staff report | Gas prices have dropped significantly
during the month of June, giving consumers a break as the summer
driving season commences, according to AAA Chicago’s most recent Fuel
Gauge Report.
AAA estimated that regular unleaded gasoline has decreased 23 cents in
Illinois during the past month, forecasting an average cost of $2.82
per gallon for the month of June, which is 3 cents lower per gallon
than last year.
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June 14, 2010 at 5:51 a.m.
Filed under:
Autos,
Construction,
Economy
Walter Arbuckle of Braintree, Vt., looks over Ford F-150s at the Formula Ford dealership in Montpelier, Vt. Pickups are an economic indicator because contractors buy these flatbed trucks to haul everything from tools to landscaping equipment to lumber to build homes. (AP Photo/Toby Talbot, file)
Associated Press | If you want a hint about the economic
recovery, follow that truck. Pickups are a kind of rugged indicator of
the nation’s financial health. When times are good, contractors buy
more of them to carry tools around for landscaping and lumber to build
homes. Weekend haulers also gravitate to them even though cars get
better mileage.
And lately sales have started shifting into a higher gear. Americans
bought 151,000 pickups last month, 19 percent more than a year ago.
Sales of full-size pickups, especially popular among contractors and
builders, grew even faster.
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June 11, 2010 at 2:45 p.m.
Filed under:
Autos,
Recalls
From Bloomberg News: BMW is recalling 38,000 1-Series cars to replace the retractors for the front seat belts. A flaw in the parts in 2008 to 2011 models could cause the retractors to ignite.
Read the full story: bloomberg.com
June 11, 2010 at 1:38 p.m.
Filed under:
Autos,
Recalls
Associated Press | Volkswagen AG is recalling nearly 16,000
Routan minivans to address fire concerns involving latches on the
sliding doors.
The German automaker says the recall affects 2009 minivans, which are
developed with Chrysler LLC and built at Chrysler’s Windsor, Ontario,
plant.
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June 11, 2010 at 10:18 a.m.
Filed under:
Autos,
Banking,
IPOs
Reuters | Morgan Stanley and JPMorgan Chase & Co are likely to be
the lead underwriters in a General Motors initial public offering, The
Wall Street Journal reported on Friday, a role that may bring the banks
glory, but not much in fees.
The underwriting banks are expected to get less than 1 percent of the
deal in fees, the Journal reported, citing an unnamed source. A typical
fee for an IPO is 7 percent, but in recent years some larger deals have
carried lower fees.
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June 11, 2010 at 6:33 a.m.
Filed under:
Autos,
Computers,
International,
Manufacturing
Reuters | Circuit protection products maker Littelfuse Inc.
raised its second-quarter outlook as electronics demand continued to
grow, but said third-quarter sales would be hit by $2 million to $3
million due to lower production at its Taiwan facility. Equipment
failure caused a fire in a limited area at its factory in Taiwan that
was brought under control, the company said.
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June 10, 2010 at 1:24 p.m.
Filed under:
Autos,
Green,
Manufacturing,
Stock activity
Dow Jones Newswires | Shares of Tenneco Inc. (TEN) jumped a day
after the auto-parts maker projected a much bigger market for its
emission control systems.
In a meeting with analysts Wednesday, Tenneco — which also makes
automotive ride control products — boosted the estimate for its market
for commercial-vehicle emissions control after-treatment to $8 billion
from previous expectations of $5 billion to $6 billion.
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June 9, 2010 at 3:05 p.m.
Filed under:
Autos
McClatchy-Tribune News | Chrysler is to announce today that it is investing $300 million in a factory at its Kokomo, Ind., complex, to make a new eight-speed transmission developed by German supplier ZF that will save jobs and improve fuel efficiency.
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June 9, 2010 at 5:32 a.m.
Filed under:
Autos
From the Times of Northwest Indiana | Ford CEO Alan Mulally told Chicago business leaders the company dropped Mercury to foster a “laser focus” on the Ford brand, but is also committed to Lincoln. He also told those gathered at a Chicagoland Chamber of Commerce event that the company’s relationship with Chicago and Mayor Daley is “fantastic.”
Get fhe full story: nwtimes.com
June 8, 2010 at 12:29 p.m.
Filed under:
Autos,
Jobs/employment,
Retail
Associated Press | About 900 General Motors dealerships that the
company had planned to cut loose appear to be getting a reprieve.
GM North America President Mark Reuss has told The Associated Press that
the automaker should wind up with about 5,000 dealers in July, the
deadline for a process that allows dealers to appeal GM’s decision.
Get the full story »
By Kathy Bergen |
The demise of the 72-year-old Mercury brand may lead to the closing of
some dealerships in major markets but will not alter Ford Motor Co.’s
expectation for solid profitability this year and next, Alan Mulally,
Ford’s chief executive, said in Chicago Tuesday.
“We have a few too many dealers in the larger metro areas,” Mulally told
reporters immediately after his keynote address at the Chicagoland
Chamber of Commerce annual meeting, which drew 1,400 business people.
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June 8, 2010 at 11:02 a.m.
Filed under:
Autos,
Recalls
Reuters | General Motors Co. announced a recall of about 1.5 million trucks, crossovers and cars from model years 2006-2009 on Tuesday, because the unit that heats the windshield washer fluid could catch fire.
Jeff Boyer, GM director for safety, said the supplier who made the module that heats the washer fluid has stopped manufacturing, leaving no chance to design an improved unit.
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June 7, 2010 at 12:47 p.m.
Filed under:
Autos,
Chicago executives
Associated Press | General Motors Co. says seven executives will
get roughly $7.5 million in company stock as part of their pay packages.
The company says in regulatory filings that the executives include North
American President Mark Reuss, Vice Chairman for Product Development
Tom Stephens and President of GM Europe Nick Reilly.
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June 7, 2010 at 11:52 a.m.
Filed under:
Autos,
Recalls
A line of 2009 Jeep Wranglers at a plant in Ohio. (AP Photo/Madalyn Ruggiero, file)
Associated Press | Chrysler is recalling almost 600,000 minivans and Jeep Wranglers in the
United States and another 100,000 elsewhere because of brake or wiring
problems that could create safety issues, the company and federal
regulators said Monday.
Chrysler said it is recalling 288,968 Jeep Wranglers from the 2006
through 2010 model years due to a potential brake fluid leak.
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