Tag: business

By on March 3, 2017

Opel Headquarters

As expected, a transfer of General Motors’ subsidiary Adam Opel AG to European automaker PSA looks to be a done deal.

PSA’s board approved the deal on Friday, with an official announcement planned for early next week. Considering the European peripheral has cost GM $15 billion in losses since 2000, GM probably isn’t terribly sad to see Opel go.

With talks progressing all week, the two automakers focused on differences on about $10 billion worth of Opel outstanding pension deficiencies and a GM request that a PSA-owned Opel would not compete with its own Chevrolet-based lineup in China or in other overseas markets.  (Read More…)

By on February 23, 2017

tesla factory fremont

After posting a profitable fall quarter, Tesla returned to spending more than it made. However, its fourth quarter losses, announced on Wednesday, were substantially less than originally assumed by analysts. The electric carmaker’s stock price continued to climb during the final three months of 2016, despite losing $448 million from its operations.

Tesla has been throwing a lot of money at projects and acquisitions. It recently purchased SolarCity and Grohmann Engineering, so going into the red was to be expected. However, the dark cloud looming in the distance isn’t related to capital — it’s about production. (Read More…)

By on March 12, 2016

2016 NAIAS Ford Stand

Ford Motor Company has decided it wants to do more than just sell cars and trucks.

On March 11, the automaker announced the creation of a new business subsidiary in the hopes of becoming a leader in the field of mobility services.

Ford Smart Mobility LLC will be headed by former Steelcase CEO Jim Hackett, who will leave Ford’s board of directors in order to take on the new position.

Ford joins a growing list of automotive rivals looking to diversify their operations by investing in the emerging field, the most prominent aspect of which is ride-sharing and ride-hailing services.

(Read More…)

By on February 29, 2016

Carl Icahn caricature (Image: Insider Monkey/Flickr)

Billionaire businessman and activist investor Carl Icahn wants to snatch up the last bits of Federal-Mogul Holdings Corporation he doesn’t already own, Automotive News reports.

The 80-year-old tycoon already owns an 82 percent share in the Southfield, Michigan-based global auto parts supplier, where he serves as chairman, but his recent offer of $7 a share could net him full ownership.

(Read More…)

By on October 2, 2015

press03-model-x-front-three-quarter-with-doors-open

The world is abuzz this week with news of the all-new Tesla Model X, which is a minivan that looks like it may at any moment take flight and get tangled up in some power lines.

Yes, ladies and gentlemen, that’s right: Tesla has brought the first gullwing minivan to market, and people are excited. And not just slightly excited. Elon Musk is giving press conferences to delighted admirers. Tesla fans are running up and down the streets in Palo Alto screaming “THE TESLA IS COMING! THE TESLA IS COMING!” And Pacific Gas & Electric engineers are currently on the job trying to figure out how to get the first Model X down from some high-voltage wires near Tarzana.

Essentially, it is Tesla pandemonium.

(Read More…)

By on August 17, 2015

You may have noticed that car dealers get bashed by the mainstream media on a regular basis.

There are a few good reasons for that.

(Read More…)

By on October 19, 2013

Alan Mulally Posing With 2013 Ford F-150 Circa June 2012

The rumor mill has been grinding away as of late regarding the possible return of Ford CEO Alan Mulally to helm either one of two of Seattle’s many economic engines: Microsoft and Boeing. In the face of these rumors, Mulally has opted not to dispel the rampant speculation.

(Read More…)

By on March 22, 2013

Another day at the office. Like most drones on a Friday afternoon, you’re wasting your time playing on the Internet. Thanks to a mid-level job that requires more presence than productivity.

The smell of slightly burnt coffee and the din of florescent lights is already starting to kill your weekend mojo. This is the time when you usually take a bit of the vodka that’s hidden under the lock and key of a nearby file cabinet, and mix it into whatever drinkable substance strikes your fancy at the soda machine.

You open the drawer and…. huh? Who put some Colt 45 malt liquor in there? Ice cold. Wow.

You pause for a second. Pop it open, and before you know it.

(Read More…)

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