Marc Carter
Fiat Officially Closes Deal With Chrysler
Fiat has officially closed the deal and taken over Chrysler this morning. The takeover now means that Fiat's Chief Executive Sergio Marchionne will become CEO of Chrysler. Fiat is now going to start transferring Fiat's technology, platforms and powertrains to Chrysler plants. Chrysler's plants are also going to resume production soon, since they were idled during the bankruptcy process...
Supreme Court Removes Delay for Chrysler/ Fiat Deal
The U.S. Supreme Court has removed the temporary stay that was issued yesterday clearing the way for the completion of the Fiat/ Chrysler deal. The high court rejected arguments from three Indiana pension and construction funds who are against the sale. Chrysler and Fiat are now free to complete their deal. Full Story: Yahoo Related Stories: Fiat Won't Cancel Chrysler Deal Despite Court...
Fiat Won't Cancel Chrysler Deal Despite Court Delay
Yesterday the U.S. Supreme Court delayed the Fiat/ Chrysler deal to listen to arguments from three Indiana pension and construction funds who are against the sale. The funds have been fighting the sale since since they feel that it unfairly favors Chrysler's unsecured stakeholders ahead of secured debtholders like themselves. Under the terms of the agreement with Fiat, Fiat has...
Former AT&T CEO Edward Whitacre, Jr. to Become Chairman of New GM
GM has announced this morning that the former AT&T CEO, Edward Whitacre, Jr. will become chairman of the "new" GM when the company is launched this summer. GM's interim Chairman Kent Kresa will continue to serve as interim chairman until the launch. "The appointment of Ed Whitacre as chairman represents a very auspicious beginning for the New GM," said Kresa....
Breaking News: U.S. Supreme Court Has Delayed the Sale of Chrysler
The upcoming sale of Chrysler LLC to Fiat has been temporarily delayed by a by a U.S. Supreme Court justice. Justice Ruth Bader Ginsburg acted right before the 4pm deadline from a U.S. appeals court in New York. Indiana pension funds and consumer groups asked the Supreme Court over the weekend to stop the sale of Chrysler so that they...
GM Announces Deal With Penske to Save Saturn
Days after GM officially filed for Chapter 11 bankruptcy, the automaker has announced an deal with Penske Automotive Group, which will officially acquire the Saturn brand. Under the proposed deal, Penske would officially own the Saturn brand and GM would continue production of the Saturn Vue, Aura and Outlook on a contract basis. The Saturn Astra and Sky are...
2009 Infiniti G37 Convertible Starts at $43,850
Infiniti has announced the pricing for the 2009 Infiniti G37 Convertible. The G37 Convertible starts at $43,850 and the G37 Convertible Sport 6MT starts at $43,900. The first ever G37 Convertible features a three-piece folding hardtop and is powered by a 325-horsepower 3.7-liter V6 mated to either a 7-speed automatic or 6-speed manual transmission. The 2009 G37 Convertible will be available...
GM Has a Buyer for HUMMER, but Buyer Not Revealed
Following yesterday's bankruptcy announcement, GM has announced that the automaker has entered "into a memorandum of understanding (MoU) with a buyer for Hummer." GM stopped short of revealing who the buyer is, but stated that the sale is expected to close by the end of the third quarter this year. GM also stated that the buyer is committed to...
BMW X1 Spy Photos Released by BMW
BMW has released a few official photos of the upcoming X1 draped in camouflage. According to TimesOnline there will be three engine choices in Europe: a 177hp diesel and 204hp diesel, and a gas powered 272bhp 3.0L V6. The US is likely to only receive the V6 when the X1 is released here. We can expect to see the official...
Kia Soul'ster is a Go?
Kia unveiled the Soul'ster concept at the 2009 Detroit Auto Show, which is based off the recently released Kia Soul. The two-door concept that featured a canvas top is now being considered for production. According to Kia the response to the concept was very positive and some Korean magazines are reporting that decision on Soulster’s production will soon be made....
