Hummer Sale Expected to be Announced Today
May 3, 2009
General Motors has filed for Chapter 11 bankruptcy, and the cascade of events that have been in motion for several months back are already starting to unfold. One such event is the sale of GM’s flagging Hummer brand, which is expected to be announced today.
Sources privy to the situation have claimed that Hummer is holding on to 3 bids worth between $100 million to $200 million. The buyer will likely rein in GM’s 125 North American dealers along with a commitment to invest further on other aspects of the business such as engineering and marketing. The only exception to the sale will be the Shreveport, Louisiana facility where GM continues to build the Hummer H3 to supply exports.
Hummer sales continued a downward spiral in May 2009, selling 62 percent less vehicles than in 2008. For the first half of the year, sales are down some 40 percent.
It should be interesting to see who ends up taking Hummer and what the buyer does to turn the brand’s fortunes around. While GM is expected to announce the sale, that doesn’t necessarily mean that the company will be naming the winning bid right away.sleepless in seattle movie download download saving sarah cain freelionheart divx movie online kill switch download free
Obama Sees Hard Times Ahead, But GM Should Become Stronger
May 3, 2009
President Barack Obama sees harder times ahead for General Motors and its workers in America, but says that the ailing car manufacturer should eventually come out of bankruptcy a stronger company.
The hard times will start as some 20,000 GM workers in the States stand to lose their jobs as part of GM’s continued efforts at restructuring and streamlining operations. Obama called on the workers to make this sacrifice “so that (their) children and all of our children can grow up in an America that still makes things.”
Obama described the GM recovery plan as “full of promise,” adding that he is fully confident that the old GM that disappointed many Americans is a thing of the past and be “an integral part of America’s economic future.”
The US government will be infusing another $60 billion in GM, which will be exchanged for an ownership stake in the company worth 60 percent. Despite the big stake in the company, Obama refutes claims that the government wants to run GM. “What I am not doing, what I have no interest in doing, is running GM,” said the president.get rich or die tryin divx download shutter dvd download
Geneva 2009: Kia’s New Cee’d ISG and Hybrid Variants
May 3, 2009
At the coming Geneva Motor Show, Kia is set to unveil two new variants of its Cee’d compact car, both of which are focused on providing optimal fuel efficiency for owners. The first one is the Cee’d ISG, or Idle Stop and Go, and the other is the Cee’d Hybrid prototype.
The Cee’d ISG employs a start-stop system that should do well in most low-speed, stop-and-go urban driving situations. The engine shuts down completely when stopping. The system is said to help improve fuel efficiency by 15 percent. The ISG variant is available for the three types of Cee’d body styles, and with an option for 1.4-liter or 1.6-liter engines.
On the other hand, the Cee’d Hybrid uses the same hybrid powertrain system as that of the new Hyundai Sonata, albeit with a lower-powered 15 kW electric motor compared to the Sonata’s 30 kW motor. The Hybrid also features a Continuously Variable Transmission rather than a standard automatic transmission system. Mileage is pegged at 48.9 mpg. The Hybrid also features the ISG technology along with a CVT transmission.
The two Cee’d variants are among 20 Kia units to be exhibited in Geneva.
Source: AutoBlog Green
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Lord Mandelson Affirms GM’s Commitment to Vauxhall
May 2, 2009
Britain’s Secretary of State for Business, Enterprise and Regulatory Reform Lord Mandelson is hard at work, trying to keep Vauxhall in the mind of parent company General Motors—even more so now that Magna has signed a deal with GM that will spin the Opel and Vauxhall brands off into a new company.
In an interview with the BBC, Mandelson elaborated on his efforts to reaffirm GM’s commitments. Mandelson added that the Magna proposals were vague when it came to business and jobs in the UK, unlike failed bidder Fiat’s proposals. “Frankly, in contrast to Fiat, Magna’s business plans were vaguer. At least Fiat was clear.”
It’s no secret that Magna wants to cut some jobs in the UK. Then again, Magna will have to keep those cuts to the minimum. Mandelson had already said that any funding or aid the UK government gives hinges on Magna’s level of commitment.
“If they want British government to help underwrite this new company going forward, they are going to have to demonstrate what’s in this new arrangement for Britain, for British production and British workers.”download texas chainsaw massacre the divx bloodrayne dvd
Honda’s Swindon Plant Reopens
May 2, 2009
After being shut down for 4 months as part of cost-cutting and demand-balancing measures, Honda’s Swindon facility has reopened once again. Later in the year, the plant is expected to produce the Jazz, the brand’s top-grossing small car.
The shutdown was vital for the preparations for the production of the Jazz. Although the plant has been accustomed to annual car production around 230,000 units, forecasted figures for 2009 say the plant can make some 112,854 vehicles total. Attribute that to the long layoff. Still, the outlook is optimistic for the Swindon plant.
Some 1,300 Honda workers at Swindon took voluntary redundancy during the shutdown. That left 3,400 workers who have agreed to a pay cut of 3 percent. The management, meanwhile, have agreed to a pay cut of 5 percent.
“This all shows that we are totally committed to our base in Swindon,” said Honda UK manufacturing director Dave Hodgetts. “We have production of the Jazz coming soon and we are doing everything we can to maintain our skilled and loyal workforce. The four months have been well used to update, streamline and modernise our capabilities.”
GM Willing to Give Up Majority Stake in Opel to Save It
May 2, 2009
Opel has been under General Motors for eight decades, but if the German car manufacturer is to avail of bailout loans from the German government, then a divorce is in order. GM has stated it is willing to sell up to 50 percent of its Opel stake if that is what is needed for Opel to get the loans.
The semi-independent route is what Opel management thinks is needed to convince governments to aid the company. What complicates matters for Opel should GM not be the majority owner is that the company would have to pay up for the use of GM’s engine technology and vehicle platforms.
Among these platforms are the Epsilon 2 platform used in the 2009 Opel Insignia and in the Opel GTC concept, and the Delta II platform used in the 2010 Opel Astra and the 2011 Opel Ampera.
Opel has also been in talks with the Spanish and UK governments as it seeks additional aid to keep its operations alive. Of course, European governments would be reluctant to fund a company owned by a US corporation, because the funds might be funneled for other brands’ purposes. This is why the split is necessary.
Source: Autocar
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