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Dec
12th

IRL: Marco Andretti remains with AGR

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Marco Andretti will be back with the Andretti Green Racing squad in 2009 as team AGR confirmed that they have completed their four-car IndyCar Series line-up for next season. Full story...
Dec
12th

Rally: The FIA confirms new World Rally Cars for 2010

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As already announced, the 2010 World Rally Cars will be based on S2000 machinery. Full story...
Dec
12th

F1: Hockenheim sets March deadline for F1 race

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Organisers of the German grand prix at Hockenheim have imposed a deadline of March 31 2009 to decide whether formula one will ever return to the circuit. Full story...
Dec
12th

F1: Team Williams’ director admits quit comments were ‘stupid’

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Adam Parr, the Williams chief executive, has admitted he regrets making "stupid" comments about the risk of formula one losing another team before the start of the 2009 season. Full story...
Dec
12th

US Auto Industry : Bush considers helping the Big 3

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Late yesterday night, the U.S. Senate failed to pass a $14-billion rescue package for the Big 3. This morning, the Bush Administration announced it is considering providing help with money from the Wall Street bailout to prevent the collapse of the automakers. Full story...
Dec
12th

F1: The decisions of the WMSC for the future of Formula 1

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The World Motor Sport Council of the FIA met in Monaco on December 12, 2008. The following decisions were taken in regards to the future of Formula 1. Full story...
Dec
12th

F1: Team Williams’ director admits quit comments were ‘stupid’

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Adam Parr, the Williams chief executive, has admitted he regrets making "stupid" comments about the risk of formula one losing another team before the start of the 2009 season. Full story...
Dec
11th

Industry aid fails in the Senate

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A bill to provide emergency loans to Detroit automakers is dead for now, Senate Majority Leader Harry Reid said late Thursday. )x("”",We have not been able to get this over the finish line,” Reid said. Full story...
Dec
11th

Auto bailout prospects revived in Senate

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WASHINGTON (Reuters) -- Prospects for an auto industry bailout revived in the U.S. Senate on Thursday as surprise negotiations on a compromise moved forward and a vote was possible later in the day. Full story...
Dec
11th

GM says it rejected bankruptcy after hiring advisers

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General Motors hired outside advisers to weigh bankruptcy, but the board determined that a filing was not an option, a GM spokesman said on Thursday. Full story...
Dec
11th

NADA extends deadline as convention registrations drop 30%

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The National Automobile Dealers Association extended the online registration period for its annual convention by two weeks after advance registrations dropped 30 percent. The original deadline was Dec. 5. The new Dec. Full story...
Dec
11th

Kullman resigns from GM board

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DuPont Co. President Ellen Kullman has resigned from General Motors' board of directors after serving for four years. Kullman, 52, announced today that she would step down immediately to focus on her new responsibilities at the chemical giant. Full story...
Dec
11th

Ford dealer urges aid beyond bailout

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A South Carolina Ford dealer is telling Congress in radio commercials that members need to do more than lend money to automakers in order to revive the domestic auto industry. Full story...
Dec
11th

The Ex-Wall Streeter’s Guide to Recession Rides

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The Ex-Wall Streeter's Guide to Recession Rides
Luxury Car Comparison - 2009 Ferrari F430 and 2009 Audi R8 - Automobile Magazine
Now, sadly, the scheme has all come hideously undone. You no longer work on the Street; instead, you're out on the street. And, worse, your car lease is up. What to do?

You and your investment banker colleagues made piles of money creating indecipherable financial instruments, got your friends at the ratings agencies to give them their stamp of approval, and just like that, all the risk magically disappeared and, not incidentally, your firm reaped huge fees selling the stuff to every financial institution in town. Now, sadly, the scheme has all come hideously undone. You no longer work on the Street; instead, you're out on the street. And, worse, your car lease is up. What to do? Of course, you're not destitute - you couldn't possibly have spent all the money you've raked in over the past few years - but you need to curb expenses. And yet, you want to keep up appearances. Allow us to help . . .


Photo Gallery: Luxury Car Comparison - 2009 Ferrari F430 and 2009 Audi R8 - Automobile Magazine


Full story...
Dec
11th

GM slows drive toward Buick, Pontiac, GMC channeling

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Mainly because of General Motors' financial crisis, the automaker is dialing back efforts to get Buick, Pontiac and GMC dealers into three-brand stores, a spokesman says. Full story...
Dec
11th

The Ex-Wall Streeter’s Guide to Recession Rides

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The Ex-Wall Streeter's Guide to Recession Rides
Luxury Car Comparison - 2009 Ferrari F430 and 2009 Audi R8 - Automobile Magazine
Now, sadly, the scheme has all come hideously undone. You no longer work on the Street; instead, you're out on the street. And, worse, your car lease is up. What to do?

You and your investment banker colleagues made piles of money creating indecipherable financial instruments, got your friends at the ratings agencies to give them their stamp of approval, and just like that, all the risk magically disappeared and, not incidentally, your firm reaped huge fees selling the stuff to every financial institution in town. Now, sadly, the scheme has all come hideously undone. You no longer work on the Street; instead, you're out on the street. And, worse, your car lease is up. What to do? Of course, you're not destitute - you couldn't possibly have spent all the money you've raked in over the past few years - but you need to curb expenses. And yet, you want to keep up appearances. Allow us to help . . .


Photo Gallery: Luxury Car Comparison - 2009 Ferrari F430 and 2009 Audi R8 - Automobile Magazine


Full story...
Dec
11th

GM resists making early payments to troubled suppliers

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General Motors is resisting pressure for early payments from a dozen suppliers concerned about the automaker's ability to pay for parts, sources say. Full story...
Dec
11th

American Axle creates joint venture in China

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American Axle and Manufacturing Holdings Inc. said today that it is forming another joint venture in China. The business is a 50-50 partnership with Hefei Automobile Axle Co. Ltd., a subsidiary of Anhui Jianghuai Automobile Group Co. Ltd. Full story...
Dec
11th

SandP: GMAC bankruptcy risk rises

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If GMAC Financial Services LLC can't take the steps to qualify for government financial assistance, it could face bankruptcy, according to a Standard and Poor's bulletin issued today. Full story...
Dec
11th

Senate GOP hardens stand against auto aid

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Senate Republicans today hardened their opposition to a House-passed bill that would provide $14 billion in immediate U.S. aid to General Motors and Chrysler LLC. Sen. Full story...
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