Tag Archives: Barack Obama
The Obama administration wants General Motors to expedite their IPO as the government had wanted to “err on the side of getting out (of their investment) a little faster”. “Private markets would like to see us exit this investment, and I think they will be more comfortable if we’re on a sustained path out [...]
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Obama: GM could learn from its Chinese operations
President Barack Obama’s trip to Asia included a massive motorcade in Beijing said to be 71 vehicles long. While touring the Great Wall and Forbidden City, Obama said that General Motors “can learn from their operations” in China “in terms of increasing sales back in the United States.”
Obama was reported to be speaking with Shanghai Communist [...]
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Obama pay czar open to raising salary caps for new hires
Kenneth Feinberg, the Obama administration pay czar, said that he is concerned that the pay cuts ordered for bailed out companies could be troublesome for them when they try to retain or hire new talent. He said that the administration would consider offers to hire new executives at competitive industry rates.
Last month, Feinberg, ordered a [...]
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Biden’s Chevrolet Suburban and limousine hit and kill pedestrian
An armored Chevrolet Suburban and a limousine belonging to Vice President Biden’s fleet, hit and killed a pedestrian just over the D.C. border in Maryland. The two vehicles were on their way to Andrews Air Force Base to a secure storage location when the incident took place.
According to the Washington Post, the man was crossing [...]
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White House says taxpayers will get back ’some’ of auto bailout
While the White House won’t guarantee that General Motors and Chrysler Group LLC will repay the full $62 billion they received in government bailouts, it said today that taxpayers will at least get “some” of the money back. The Government Accountability Report released Monday said that automakers are “unlikely” to repay all of the government [...]
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General Motors Company CEO Fritz Henderson has repeatedly said that the Detroit automaker is aiming for an initial public offering as early as next year. However, the Government Accountability Office (GAO) said Monday that 2010 might be too soon to execute such a stock offering.
The GAO said that the Obama administration should establish a more [...]
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White House criticizes Edmunds.com over Cash for Clunker analysis
Automotive site Edmunds.com is being criticized by the White House for its harsh analysis of the impact of “Cash for Clunkers.” It said that the site’s analysis was “faulty” and “implausible.” Edmunds.com’s CEO Jeremy Anwyl shot back that the White House was “shooting the messenger.”
Edmunds, which has been known to be pessimistic about the program’s impact, [...]
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Fritz calls U.S. government imposed pay cuts ‘fair’ and ‘thoughtful’
Late last week, the Obama Administration ordered seven companies who received a significant amount of federal loan to cut the salaries of their top-level executives by an average of 90 percent and cut total compensation (including cash, stock and perks) by half.
General Motors CEO Fritz Henderson was amongst the many executives who saw government-imposed cuts [...]
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Dubya Urges Obama Administration to Sell Stake in Autos
G.W. Bush has stated his concern about the American government being involved in the private sector, lending particular mention to the auto and financial industries to an association of Montreal business people, Bloomberg reports.
Bush said in his speech that government “has got to get out of the private sector, and therefore I hope our government [...]
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Congress passes bill to make 3-wheeled vehicles eligible for funds
Congress has passed a bill that will make fuel-efficient three-wheeled vehicles eligible for federal funding and is headed to the White House for President Barack Obama’s signature. The funding will be available to automakers and their suppliers.
The bill, which will open Department of Energy funding to companies like Aptera Motors, was passed by the Senate [...]
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2010 Acura ZDX prices start at $45,495
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Ford leads 2010 IIHS Top Safety Pick list with 6, Toyota doesn’t cut it
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2010 BMW 550i Gran Turismo prices start at $63,900 (w/ new images)
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BREAKING: Bob Lutz confirms Cadillac CTS-V Sport Wagon
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2010 Lotus Evora prices start at $73,500
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GM loses $1.2 billion in 3rd quarter, speeds repayment of U.S. loans
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First Drive: Test-driving the new Nissan LEAF EV… sort of
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Review: 2009 Infiniti G37 S Convertible, drop the top and enjoy the sound
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Review: 2010 Buick LaCrosse CXS, no longer your daddy’s car
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Review: 2010 GMC Terrain shows how GMC is evolving
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Review: 2010 Ford Fusion Hybrid, look here for impressive fuel-efficiency numbers
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Review: 2010 Lincoln MKS EcoBoost, high-performance can be economical
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Review: 2010 Ford Taurus SHO – It’s SHOw Time
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