Detroit

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GM Close to Hummer Sale That Would Save 3K US Jobs

Has picked a buyer; deal would be finalized by Sept.

(Newser) - GM has selected an unnamed investor to buy its hulking Hummer brand, in a move aimed at saving more than 3000 US jobs, sources tell the Wall Street Journal. They say the company hopes to seal the deal, rumored to be in the $200 million range, by September. An official...

Big Three See Bumpy Road With 20-Somethings

Demographic key to rebuilding for US automakers

(Newser) - Detroit automakers face a hard road when it comes to Generation Y—consumers aged 22-32 whose business is crucial to securing the firms' futures, BusinessWeek reports. Their boomer parents broke from tradition by shifting to Japanese cars, and Gen Y is following in those footsteps. Detroit “simply must do...

GM Bankruptcy a Gold Rush ... for Lawyers

Most complex filing ever will net hundreds of millions in legal fees

(Newser) - GM's expected bankruptcy is bad news for thousands of auto workers, dealers and managers—but a bonanza for the lawyers and consultants orchestrating the most complicated Chapter 11 in history. Bankruptcy specialists who are already billing Chrysler, Lehman Brothers and the US government stand to make hundreds of millions of...

Ford Courts GM, Chrysler Customers

Helps pay off their loans, trains dealers in 'conquests'

(Newser) - With General Motors and Chrysler struggling, Ford is moving to pick off some of its rivals’ customers, the Detroit News reports. The firm is passing cash to its dealers to ease Chrysler owners’ loan payments—so they can pick up Fords. Ford may soon do the same for GM owners....

GM, UAW Cut Deal on Labor, Health Care

Tentative pact may save struggling auto giant more than $1B

(Newser) - Monitored by the Treasury department, General Motors and the United Auto Workers have reached a tentative deal to modify conditions of their labor contract and retiree health care trust, which could save the flatlining automaker more than $1 billion. Still, Chapter 11 bankruptcy remains likely for GM, and union reps...

Fans High on Eminem's 1st Sober Show

Rapper excited to play show he'll remember later

(Newser) - Some 2000 lucky Eminem fans got to see a rarity last night: a mini-concert in which the rapper was sober, MTV reports. “This might actually be one of the best shows I’ve ever done, ‘cause when I get offstage, I’m actually going to remember it,”...

GM Loses $6B in Q1, Burns $10.2B

The ailing automaker looks no closer to avoiding bankruptcy, CEO says

(Newser) - General Motors lost nearly $6 billion in the first quarter, hampered by bankruptcy fears and slumping global sales. The company spent $10.2 billion while revenue declined to $22.43 billion—47% down from the previous year. However, the loss of $5.98 billion, or $9.78 a share, was...

Are Americans Falling Out of Love With Cars?
Are Americans Falling Out of Love With Cars?
ANALYSIS
May 6, 2009 4:58 PM CDT

Are Americans Falling Out of Love With Cars?

Drop in driving could be delayed reaction to gas prices—or not: Silver

(Newser) - Is the fact that Americans are driving less even after the cost of gas has come down a sign that US attitudes are changing, Nate Silver asks in Esquire—or is it just another example of how slowly they respond to changes in fuel prices? “The real test,”...

Former NBA Star Bing Wins Detroit Mayor's Race

He replaces disgraced Kilpatrick

(Newser) - Businessman and professional basketball Hall-of-Famer Dave Bing has been elected Detroit's newest mayor and will serve through the end of the year. The 65-year-old Detroit Pistons great defeated incumbent and fellow Democrat Ken Cockrel Jr. today in a special runoff election, 52.3% to 47.7%.

Fiat Has Long Shed 'Fix It Again Tony' Reputation

(Newser) - The last time Fiat tried to make a go of it in the US market, its unreliable cars earned it the nickname Fix It Again Tony, reports the New York Times. That was 25 years and another world ago. After a renewed focus on quality under CEO Sergio Marchionne, the...

Chrysler Bankruptcy Obama's Blunt Message to GM
Chrysler Bankruptcy Obama's Blunt Message to GM
OPINION
Apr 30, 2009 3:08 PM CDT

Chrysler Bankruptcy Obama's Blunt Message to GM

President not afraid to use 'the big stick' on ailing firms

(Newser) - In announcing Chrysler’s bankruptcy, President Obama shows other troubled firms and industries there’s a point where bailouts stop and hard choices begin—and that message must ring especially clear at General Motors, writes Tom Walsh for the Detroit Free Press. GM’s creditors will now be under a...

Chrysler Talks Break Down; Bankruptcy Expected Today

Bankruptcy still looks likely for automaker

(Newser) - Last-minute talks between the Treasury Department and Chrysler's creditors have broken down, making a bankruptcy filing nearly certain today, the Wall Street Journal reports. In other developments, the Detroit News says Italian automaker Fiat will still sign a deal today to forge an alliance with Chrysler. Under the bankruptcy plan...

Wind-Borne Chihuahua Safe
 Wind-Borne 
 Chihuahua Safe  
Apr 28, 2009 5:21 PM CDT

Wind-Borne Chihuahua Safe

(Newser) - It is never fun to be a chihuahua in a wind storm, but this tale has a happy ending. It seems Tinker Bell, all 6 pounds of her, blew away from her owners amid 70mph gusts while at a flea market, the Detroit News reports. Her owners consulted a pet...

Pontiac Dies, But Its Greats Live On
 Pontiac Dies, 
 But Its Greats Live On 
OPINION
Apr 27, 2009 3:57 PM CDT

Pontiac Dies, But Its Greats Live On

(Newser) - As General Motors' Pontiac line is phased out, Ben Wojdyla, on Jalopnik, remembers the truly great cars that bore the mark. If you've got one, keep your garage clean and await a payday.
  • 2009 G8 GXP: "GM should be saved for no other reason than to put the G8
...

Fiat Begins Talks With GM While Courting Chrysler

(Newser) - Fiat is bound and determined to join the big boys of the auto world, and it's using ailing US companies to gain a foothold. The Italian automaker has begun surprise talks with General Motors to buy a stake in GM's Opel division and expand its presence in Europe and Latin...

GM to Shut Most Factories for 9 Weeks

(Newser) - General Motors plans to shut most of its US factories for 9 weeks this summer, the AP reports. The shutdown will include the normal 2-week stoppage in July to gear up for new models, two sources said, blaming the move on slumping sales and rising inventories. GM, which has received...

Detroit Mayoral Race Looks Like NBA Reunion

(Newser) - NBA Hall of Famer Dave Bing, who’s running for mayor of Detroit, is turning to the political branch of the “NBA family” for support, the Detroit News reports. Former senator and presidential candidate Bill Bradley will appear next week with retired Suns point guard Kevin Johnson, now the...

Muslim Woman Leans on Guide Horse

(Newser) - Muslims consider canines unclean, which was a problem for a blind Muslim woman who wanted a guide dog. So she got a guide horse. Mona Ramouni of suburban Detroit is getting used to 3-year-old miniature horse Cali—“this is a really awesome little horse,” she told the AP—...

Hoe-town: 10K-Acre Farm Eyed for Detroit

Michigan investors seek to turn deserted streets into cropland

(Newser) - Motor City could turn into Maize City if a Michigan investment group has its way and turns 10,000 acres of largely deserted streets into farm plots, reports BusinessGreen. Hanz Group hopes eventually to acquire almost 10% of Detroit's 143 square miles for development into cropland, Christmas tree and lumber...

Tar Heels Trample Spartans to Take Title
 Tar Heels Trample 
 Spartans to Take Title 
ncaa tournament
Apr 6, 2009 11:07 PM CDT

Tar Heels Trample Spartans to Take Title

(Newser) - Now Tyler Hansbrough, Ty Lawson, Wayne Ellington, and Danny Green can head to the NBA feeling good about their decision to return to school. The upperclassmen led North Carolina to its fifth national championship with an 89-72 blowout of Michigan State tonight in Detroit, reports the AP. "We've been...

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