Yes, it’s that time of the day where we bring you some random news we’re finding from our RSS readers.
Bob Lutz nets $141,986 from selling GM shares: Earlier this month, Bob Lutz and some of his colleagues sold their GM shares. According to Reuters, Lutz paid a 10 percent penalty to sell his shares netting a total of $141,986 from the sale. – Reuters
Analysts say that gas prices are the key to fuel-economy: As President Barack Obama introduces new fuel-economy rules, analysts are wondering if consumers will purchase more fuel-efficient vehicles if gas prices remain relatively low. The new fuel-economy regulations are expected to add $600 to the cost of vehicles and with gas prices still low, consumers may end up purchasing larger vehicles with low fuel-economy. – CNNMoney
Senators ask U.S. government to force automakers to alter dealer closings: The U.S. Senate today is calling on Chrysler and Obama’s auto task force to change the terms dictated by automakers regarding dealer closings. Sen. Kay Bailey Hutchison, R-Texas, made a proposal to block federal aid for Chrysler and GM if they don’t warn dealers at least 60 days before shutting them down. – Detroit Free Press
– By: Kap Shah