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Keyword: governmentmotors

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  • Chevrolet Volt 'Comes Out' For Detroit's LGBT Pride Weekend

    06/05/2012 1:07:55 PM PDT · by smokingfrog · 51 replies ^ | 5 June 2012 | Richard Read
    On June 28, 1969, gays, lesbians, and their transgendered friends took to the streets of New York, protesting the harassment they'd experienced at the hands of the city's police force. The violence -- now known as the Stonewall Riots -- lasted for several days and altered the way that Americans viewed their LGBT neighbors. Forty-three years down the road, things have changed dramatically. We have an array of LGBT characters on TV and in movies. We have a president who's come out in favor of marriage equality. And with only a couple of exceptions, most of America's major corporations --...
  • Chevy to Build Impalas, Malibus at Underutilized Volt Plant

    06/04/2012 8:57:15 AM PDT · by jazusamo · 42 replies
    National Legal & Policy Center ^ | June 4, 2012 | Mark Modica
    CBC News reports that an Ontario General Motors' plant where Chevy Impalas and Equinoxes were built will be closed down, costing Canadians around 2,000 jobs. GM reportedly plans to partially move production of the Impala to its Detroit-Hamtramck assembly plant in Michigan. You may remember the Hamtramck site from the Chevy Volt commercial which trumpeted the building of Volts there. It now seems that low demand for the Volt has led to the plant having enough time to build other, conventionally-powered vehicles. While the Volt may have been the car GM "had to build," it appears that consumers would...
  • GM to cut about one-fourth of U.S. pension liability

    06/01/2012 4:01:17 PM PDT · by Oldeconomybuyer · 21 replies
    Reuters via Yahoo! News ^ | June 1, 2012 | By Deepa Seetharaman and Ben Klayman
    DETROIT (Reuters) - General Motors Co will cut nearly a quarter of its U.S. pension obligation by transferring the management of its pension plans for 118,000 white-collar retirees to a third party and offering lump-sum buyouts. The two moves unveiled on Friday will cut $26 billion from the automaker's massive U.S. pension liability of nearly $109 billion. GM's pension overhang is a top concern for investors. It was one of a handful of issues left untouched during GM's U.S.-financed bankruptcy restructuring three years ago. GM retirees represented by the United Auto Workers union are not affected by Friday's announcement. Hourly...
  • Chevy Volt May Sales Dismal - Ad Spending Ineffective

    06/01/2012 11:16:03 AM PDT · by jazusamo · 21 replies
    National Legal & Policy Center ^ | June 1, 2012 | Mark Modica
    General Motors reported that Chevy Volt sales for May came in at a paltry 1,680. To put this in perspective, GM sold 29,579 Chevy Malibus during the month. The funny thing is, I do not recall seeing as many TV ads for the Malibu as I have for the Volt. While GM's ad strategy (which has seen the company discontinuing advertising on Facebook and the Super Bowl) has received much attention, auto journalists and analysts do not seem to want to question the reason why GM is spending such a disproportionate amount of money advertising a vehicle that is losing...
  • Was GM’s Nepotistic Ad Spending More Effective than Facebook?

    05/31/2012 1:48:22 PM PDT · by jazusamo · 5 replies
    National Legal & Policy Center ^ | May 29, 2012 | Mark Modica
    The Detroit Free Press reported on Friday that General Motors failed to initially disclose possible conflicts when it awarded a $600,000 contract to Mother New York, an ad agency with ties to GM's Chief Financial Officer, Dan Ammann. Ammann's wife, Pernilla Ammann, is a partner and Chief Operating Officer at the ad agency. In typical Government Motors' fashion, Ammann dubiously denies having had knowledge of the deal. Before looking at what the money purchased, let's look at the likelihood that Ammann really knew nothing. Honestly, is it likely that a CFO at a major corporation would not know that...
  • GM Discloses $600,000 Contract With Ad Agency Tied to CFO's Wife (PAY THE TAXPAYERS BACK!)

    05/25/2012 2:40:50 PM PDT · by tobyhill · 10 replies
    cnbc ^ | 5/25/2012 | staff
    General Motors [GM 22.44 0.40 (+1.81%) ] has released an SEC filing disclosing a contract between the automaker and an ad agency that employs the wife of GM CFO Dan Ammann. The disclosure comes a month after GM filed its annual proxy statement listing potential conflicts of interest involving GM executives. In this case, Ammann says he was unaware of the contract with his wife’s ad agency until GM’s corporate governance team asked him about it just a few days ago. GM says the transaction has since been ratified under the automakers Related Party Transaction Policy. The contract in question...
  • Delphi gasoline-injection engine technique rivals hybrid's edge

    05/21/2012 11:29:02 AM PDT · by Red Badger · 31 replies ^ | May 21, 2012 | by Nancy Owano
    Running a diesel like engine on gasoline is something Delphi is doing in notable fashion. They claim they are on to a promising way to enjoy an engine that gives the vehicle owner high efficiency and low emissions. Delphi, a major Michigan-based auto-parts supplier, is developing this technology which has shown impressive results in tests. Delphi tried out its combustion concept, which reaps the best of two worlds of low-emission gas and efficient diesel engines. Delphi claims its technology is an improvement upon the fuel economy of gas-powered cars, and can bring forth benefits of the hybrid at less the...
  • GM passes on running TV ads during 2013 Super Bowl

    05/19/2012 9:40:32 PM PDT · by Olog-hai · 13 replies
    Reuters ^ | Fri May 18, 2012 5:43pm EDT | Ben Klayman
    General Motors Co. will not advertise in next year's Super Bowl because it is too expensive, the top marketing executive for the U.S. automaker said three days after the company announced it was dropping paid ads on Facebook Inc. The 2013 Super Bowl will be broadcast by CBS Corp, which is selling 30-second ads for as much as $4 million. Spots on NBC's broadcast of this year's National Football League championship game, the most heavily watched annual event on U.S. television, cost about $3.5 million per 30-second spot. NBC is majority-owned by Comcast Corp. "We understand the reach the Super...
  • Chevy Volt Pep Rally Masquerades as Electric Vehicle Symposium

    05/17/2012 10:41:48 AM PDT · by jazusamo · 6 replies
    National Legal & Policy Center ^ | May 17, 2012 | Mark Modica
    The Department of Transportation and NHTSA have announced that a "technical symposium" will be held on May 18th "to discuss safety considerations for electric vehicles powered by lithium-ion (Li-ion) batteries." In addition to NHTSA's presentations, the Department of Energy, automotive manufacturers and battery makers will participate. Given the bias of the participants, the symposium sounds like it is going to be less informational and more infomercial. The press release for the gathering states, "Electric vehicles show great promise as an innovative and fuel-efficient option for American drivers. Significant research and other activities related to the safety of these vehicles are...
  • Obama and GM Cook the Books

    05/16/2012 8:14:59 AM PDT · by LucianOfSamasota · 12 replies
    National Review ^ | May 16, 2012 | John Lott
    Would you hire President Obama as your financial adviser? Three years ago his administration invested more than $100 billion in taxpayer money to bail out General Motors. On Tuesday, the entire company, not just what the government owns, was worth less than $34 billion. By anyone’s definition, that investment is a glaring failure. Yet over the last few days the Obama campaign, in a $25 million marketing blitz, has flooded the airwaves with ads in battleground states, claiming the bailout should be counted a rousing success. Unfortunately, assertions that “all loans have been repaid to the federal government,” that the...
  • Ally's ResCap Unit Files Chapter 11 (Still Owes $7.2Bil In TARP!)

    05/14/2012 6:59:31 AM PDT · by tcrlaf · 7 replies
    WSJ ^ | 4-14-12 | Andrew Johnson
    <p>Ally Financial Inc.'s troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from substantial litigation that has been a drag on its other operations and prevented it from repaying the remainder of its government bailout.</p>
  • Non-Union Retirees Shafted in Auto Bailouts Told to Get Jobs

    05/10/2012 2:06:43 PM PDT · by jazusamo · 12 replies
    National Legal & Policy Center ^ | May 10, 2012 | Mark Modica
    One of the most egregious abuses of the Obama Administration's auto bailouts was the blatant favoritism evidenced in the treatment of Delphi (General Motors' parts supplier) retirees. After the Delphi bankruptcy, UAW retirees had their pensions "topped off" by General Motors, apparently with taxpayer money accessed through TARP. While the UAW retirees maintained their pension benefits, non-union, salaried retirees of Delphi lost theirs. There was no logical reason for one group to have their pensions saved while another group lost theirs, just the facts that the distributions were inequitable and the only difference between the groups was that one belonged...
  • Here Comes the Made-in-China Cadillac

    05/09/2012 9:28:05 AM PDT · by jazusamo · 18 replies
    American Thinker ^ | May 9, 2012 | Howard Richman & Raymond Richman
    It's déjà vu all over again! GM again caves to Chinese pressure. In September it was the electric car. In April it was the Cadillac. The Chinese government made its latest move in December. That's when The Guardian reported that the Chinese government raised its already high 25% tariff upon American-made vehicles, concerned that increasing numbers of big-engine cars were being purchased by Chinese consumers: General Motors faces the greatest impact, almost 22% extra on some sports utility vehicles (SUVs) and other cars with engine capacities above 2.5 litres. Chrysler faces a 15% penalty, while a 2% levy will be...
  • GM Boycott Hurting Market Share?

    05/08/2012 11:09:03 AM PDT · by jazusamo · 43 replies
    National Legal & Policy Center ^ | May 8, 2012 | Mark Modica
    Last week's earnings report from General Motors revealed a troubling statistic for shareholders. GM's market share for North America shrunk from 18.3% a year ago to 16.7% for the latest quarter. Not coincidently, a survey by Yahoo Autos revealed that a full 13% of consumers would now "never" consider purchasing a GM vehicle while another 15% are less likely to purchase. A negative perception of the auto bailout process and the continued political overtones at GM are the reasons for the boycott. Another recent Rasmussen poll showed that 59% of Americans view the auto bailouts as a failure. The...
  • GM Executive Refutes Chevy Volt / EV Hype (Good article)

    04/27/2012 9:49:24 AM PDT · by jazusamo · 28 replies
    National Legal & Policy Center ^ | April 27, 2012 | Mark Modica
    The WSJ yesterday reported that auto company executives are skeptical regarding the prospects for plug-in electric vehicles like the Chevy Volt. The skepticism was displayed at the annual Society of Automotive Engineers World Congress. Among the skeptics was General Motors' executive director of powertrain-engine engineering, Sam Winegarden (in photo). It seems that not all criticism of the Chevy Volt and cars like it are driven by a right-wing conspiracy to enrich oil companies. Mr. Winegarden presented a chart comparing the amount of energy delivered by a given volume or mass of fuel. According to the article, "On his chart,...
  • GM to build 2013 Cadillac XTS in China

    04/23/2012 12:14:12 PM PDT · by Talisker · 55 replies
    IBTimes ^ | APRIL 23, 2012 | BENJAMIN REEVES
    GM announced plans to build the new 2013 Cadillac XTS luxury sedan [in China].
  • Localities Get Up to $33,000 in Subsidies per Chevy Volt (Outrageous tax dollar waste)

    04/23/2012 1:03:52 PM PDT · by jazusamo · 14 replies
    National Legal & Policy Center ^ | April 23, 2012 | Mark Modica
    A report gives a good explanation for why some Florida localities are purchasing Chevy Volts. When Jacksonville's chief of fleet management, Karim Kurji, was asked what the advantage of going green by purchasing Volts was he hit the nail on the head when he replied, "Federal money." The story goes on to reveal that the total federal taxpayer money used to subsidize one Chevy Volt purchased by Atlantic Beach was over $33,000. It now appears obvious that the Obama Administration and General Motors are willing to pay just about any price, even if the taxpayers are footing the...
  • White House First to Say Chevy Volt Not Ready For Prime Time

    04/19/2012 12:47:08 PM PDT · by jazusamo · 10 replies
    National Legal & Policy Center ^ | April 19, 2012 | Mark Modica
    Mitt Romney has been criticized for stating that the Chevy Volt is an idea whose time has not come. We have gotten to a stage in the election cycle where even the slightest of criticisms against the Volt leads to outcries of a right wing, "wrong-headed" conspiracy to hurt sales of the vehicle. What has not been reported is the fact that the Obama White House was the first to say that the car was not ready for prime time. A White House viability report from 2009 states that the Chevy Volt "holds promise" but is "projected to be...
  • Former GM Vice Chairman: ‘I Would Raise the Fuel Tax 25 Cents a Gallon per Year’ (Lutz)

    04/18/2012 12:06:19 PM PDT · by jazusamo · 64 replies
    CNSNews ^ | April 17, 2012 | Patrick Burke
    VIDEO at link ( - Former Vice Chairman of General Motors Bob Lutz said he would raise taxes on gasoline to compel American consumers to buy more electric cars. “If I were emperor of the United States, I would raise the fuel tax in the United States by 25 cents a gallon per year,” said Lutz during a panel discussion on energy independence co-sponsored by the Hudson Institute. “So that people making a purchase decision, ‘Wow it’s 4 dollars this year, $4.25 next year, $4.50 the year after that, you know what? We better buy a compact this time.’” Lutz...
  • Another Blunder Affects Taxpayer-Funded EV Battery Company A123

    04/12/2012 1:11:22 PM PDT · by jazusamo · 9 replies
    National Legal & Policy Center ^ | April 12, 2012 | Paul Chesser
    Just as the Department of Energy gave A123 Systems a vote of confidence by extending a deadline until 2014 to spend down its $249 million stimulus grant, the deeply troubled electric vehicle supplier experienced another setback. One of their batteries caused an explosion. The blast occurred yesterday morning in Warren, Mich. at General Motors’ Alternative Energy Center – a research facility – while performing on an A123 battery “intensive tests designed to make it fail,” the Detroit News reported. GM confirmed to Crain’s Detroit Business that chemical gases released by the battery caused the explosion. One employee was sent...