As if the poor fellas at Toyota didn’t have enough on their hands with this massive recall, hearings in Washington and cars that just won’t get fixed. Now the car company is giving away $250 million to workers at a soon-to-close plant in California. [More]
gm
Data Shows Toyota Might Be Crashiest Cars On The Road
By 3.2.10
Toyota might be getting a pity party at home in Japan for the skewering the car company is receiving over their recall of 8 million vehicles, so this latest report will probably turn them into saints. A new look at almost 13,000 speed-related complaints over the last decade shows that Toyota led the pack in with the most complaints involving a crash. [More]
GM To Recall Chevy Cobalts, Various Pontiacs Due To Steering Problems
By 3.2.10
GM has announced that it is recalling 1.2 million vehicles to address a power steering problem that has been linked to 14 crashes and one injury. [More]
GM Gives In To Good Taste, Closes Hummer Division
By 2.24.10
Auto decal makers and window-tinters of the world are in mourning this afternoon, following an announcement from General Motors that — after several months of trying to unload their Hummer brand of gas-guzzlers on the Sichuan Tengzhong Heavy Industrial Machines Company — they’re stopping production of the controversial phallic stand-ins. [More]
New General Motors CEO To Receive $9 Million Compensation Package
By 2.20.10
Ed Whitacre, new CEO of General Motors, will receive a $1.7 million salary and $9 million total compensation package. That’s about twice what his predecessor Fritz Henderson received. Don’t cry for Henderson, though–he’s making almost $3,000 per hour consulting for GM for twenty hours a month. [More]
GM Executive Complains About Being Underpaid
By 2.16.10
The Treasury Department now owns 61% of GM, but apparently the new owners are being stingy. The Detroit News says GM Vice Chairman Bob Lutz said Friday that the top 25 senior executives (whose pay packages are being reviewed by the Treasury) are “way, way, way” underpaid. [More]
GM Reaches Deal To Sell Saab To Spyker
By 1.26.10
Spyker, a specialty car maker that makes only a dozen cars a year, has actually managed to come to a deal to buy Saab from GM, says Dow Jones. [More]
GM Is The Latest Hot Stock. Yes, That GM
By 1.19.10
Motors Liquidation Co., a company that exists solely to liquidate worthless assets of the old General Motors, has become the latest plaything of penny stock speculators and other market players, jumping about 40% since the beginning of the year, to 77 cents. Yes, this is going to end very badly for someone. [More]
Saab Is Dead
By 12.18.09
The final attempt to sell money-losing-jet-car-maker Saab has failed, says GM. The brand will be discontinued, which makes the country of Sweden really sad. [More]
GM Reveals Secret Project It Developed With Bailout Money
By 12.17.09
Finally, the truth is revealed: this is clearly where the bailout money went. Below, watch a Chevy Volt promotion song-and-dance-spectacular performed earlier this month at the LA Auto Show. [More]
How Epic Bureaucracy Led To GM's Doom
By 11.13.09
Have you ever wondered how a profit-seeking entity could have possibly produced the Pontiac Aztek? The answer lies in GM’s century-old bureaucracy. Like all good bureaucracies, it helped to stifle innovation, squash dissent, and perpetuate bad ideas.
Some Ford Cars Are Reliable, Actually Worth Buying
By 10.27.09
Several Ford cars are among the world’s most reliable vehicles, according to the latest annual car reliability survey from Consumer Reports.
Government Orders Pay Cuts For Bailed-Out Firms
By 10.22.09
The huge salaries and bonuses paid to executives of banks and other firms that received government bailout funds have been the subject of a lot of taxpayer rage. The Obama administration listened, and will order pay cuts.
Need A New Car? Consider A Saturn
By 10.13.09
The Washington Post notes that although Saturn dealerships have until this time next year to close, many will be saying goodbye sooner due to low inventory, and that’s partly why now is a good time to buy a Saturn. That is, if you don’t plan on reselling it in a couple of years.
GM, Tengzhong Close To Hummer Brand Sale
By 10.10.09
So long, Hummer. Sort of. GM and Chinese company Tengzhong are closer to their deal to sell the Hummer brand.
GM And Penske End Saturn Sale Talks
By 10.1.09
Saturn will not have a new life as part of Penske, the company that, among other things, distributes Smart cars in the U.S. Talks between Penske and GM fell apart today, and so did any chance for a deal.
GM's Money Back Guarantee Comes With Lots Of Fine Print
By 9.25.09
GM’s new 60-day money back guarantee (good through November 30th, 2009) on new car purchases sounds pretty straightforward—if you don’t want the car for any reason (it doesn’t have to be a good reason), you can bring it back. But it has a few rules that you should be aware of before your purchase, notes the Associated Press.
Does Living In California Make You A Higher Credit Risk?
By 9.21.09
Paul Smith, who lives in San Diego and has a credit score of 751, had his HSBC credit card limit lowered from $7,000 to $1,400 recently for mysterious reasons. He called HSBC to find out why.
