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Monday, March 26, 2012

DAILY: U.S. wants GM to buy Ally's captive finance unit, report says | A123 takes blame for Fisker Karma glitch | Denso exec agrees to plead guilty in price-fixing case

DAILY NEWSLETTER March 26, 2012
 
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U.S. suggests Ally breakup, wants GM to buy captive finance unit, report says
image NEW YORK (Bloomberg) -- The U.S. Treasury, which put $17.2 billion into a bailout of Ally Financial Inc., has indicated it would prefer a breakup and sale of the lender -- including selling the company's captive finance auto business back to General Motors, its original owner.
>> story  Published: Mar 26 11:57 am U.S. Eastern time
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A123 will replace defective battery packs, takes blame for Fisker Karma glitch
Shares in company fall 12.35%
DETROIT (Reuters) -- A123 Systems is replacing lithium-ion battery modules and packs that could fail due to a manufacturing defect, a problem that recently led to the high-profile shutdown of the Fisker Karma luxury sedan during testing by Consumer Reports magazine.
>> story  Published: Mar 26 9:48 am U.S. Eastern time / UPDATED: 3/26/12 4:16 pm ET - with closing stock price

Denso exec agrees to plead guilty in price-fixing case
imageDETROIT -- An executive with supplier Denso Corp. has agreed to serve just over a year in prison and pay a $20,000 fine as part of a plea agreement for his role in rigging bids for heater control panels, the U.S. Department of Justice said today.
>> story  Published: Mar 26 3:15 pm U.S. Eastern time
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  • Price Daily change 52-week high / low
    General Motors 25.58 +1.63% 33.47 / 19.00
    Ford 12.48 +1.30% 16.18 / 9.05
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    Visteon 54.60 +0.72% 71.00 / 38.32
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    KEITH CRAIN
    Florida is a car lover's state
    image I recently had the pleasure of participating in a couple of great auto shows in Florida.
    Rick Case, a very successful car dealer based in Fort Lauderdale, has been involved with a Boca Raton car show he created that generates millions of dollars for the Boys & Girls Clubs of Broward County.
    It is a great classic car show, and his annual Saturday night gala is always a site to behold. His show will continue to get better, but it already raises more money for a charity than any other car event.
    A couple of weeks later, Bill Warner had his wonderful show at Amelia Island near Jacksonville. He has been doing ...
    >> Read the column  Published: Mar 26 12:01 am U.S. Eastern time


    EDWARD LAPHAM
    Flint Buick dealer saves UAW hall, but story won't make the movies
    imageFlint, once the proud home of Buick, has had a tough time. Most of what America knows about Flint comes from Michael Moore's bitter movie Roger and Me.
    That's too bad.
    Yes, Flint, like many other industrial communities, is in recovery mode, trying to reinvent itself with varying degrees of success.
    There are still GM operations in Flint, but they're a shadow of what they once were. Kettering University, which evolved from General Motors Institute, is still educating engineers and entrepreneurs in Flint.
    And there is still a sense of community.
    Last week a local ...
    >> Read the column  Published: Mar 26 12:01 am U.S. Eastern time


     OBITUARIES
     Obituary
    Information about Gordon MacKenzie, a former vice president of Ford Motor Co. >> story  Published: Mar 26 12:01 am U.S. Eastern time

    Blog
    Was 'Cuda lurking in the '60 Minutes' piece on Chrysler?
    LARRY P. VELLEQUETTE: Chrysler Group took a star turn in the mainstay of broadcast news Sunday with a lengthy appearance on CBS's “60 Minutes.” The piece told a good story and had some intriguing images of Chrysler-Fiat CEO Sergio Marchionne as he goes about his multicontinental nonstop work life, even if it broke no new ground. ... arrow Read the blog  Published: Mar 26 1:55 pm U.S. Eastern time
    Blog  
    Hans Greimel is Asia editor for Automotive News
    Japan's industry gets auto royalty in new spokesman with Akio Toyoda
    Japan's auto industry association has tapped an unlikely -- but increasingly well-suited -- CEO to be its next chairman as the country's beleaguered carmakers battle falling sales at home and the hollowing out of their factories. ... arrow Read the blog  Published: Mar 24 12:48 pm U.S. Eastern time
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