Where are Debbie Stabenow and Carl Levin when we need them? The crusaders against China getting its hands on precious American intellectual properties must go bonkers when they hear this: In the olden days, the Chinese had to steal and rob know-how from America. No longer necessary: Americans outsource know-how creation to China. At the forefront: General Motors. (Read More…)
Allegedly, China’s enthusiasm for new cars has waned. Don’t tell that to a Shanghainese. In Shanghai, exuberant carbuying has been dampened by limiting the amount of license plates, which are auctioned off. In March, prices of new license plates hit a record high. The average bid for a license plate was 58,625 yuan (9,380 U.S. dollars), Xinhua reports.(Read More…)
As you remember, Susan “If you know what I’m good for, answers on a postcard, please” Docherty got canned from her job of Sales and Marketing of U.S Operations, to make room for Joel Ewanick. Back then, many thought it was only a matter of time before ol’ Doperty (see what I did there?) got the ol’ heave ho from GM CEO Eddie Whitacre. Unfortunately, it seems someone still likes her (again, answers on a postcard, please) and she’s now landed another gig at GM. Only this time, they’ve let her loose on the golden goose (hey, see what I d….never mind). (Read More…)
Want to move to Shanghai to cash in on the Chinese car boom? Want to drive a car in Shanghai? Better bring a lot of money.
Prices for a license plate in Shanghai rose to at two year high in the year’s first plate auction, Shanghai Daily reports. The average price of a private car license rose to US$5,617. A new QQ goes for as little as $4,100. (Read More…)
News that GM is selling a control-shifting single share in GM Shanghai to its Chinese partner SAIC was the toads-from-heaven flourish at the end of an epic week for the RenCen. The day after the last of GM’s lifer CEOs left the building, Opel’s CFO followed suit. One management re-organization and a rough LA Auto Show later, came this symbolic surrender of GM’s largest market for a measly $85m. Accompanied by news that The General would buy out Suzuki’s stake in CAMI for an estimated $46.5m, no less. Oh yeah, and something about India. Freshly-minted CEO and notorious rattlesnake killer Ed Whitacre isn’t about be accused of not trying to shake things up. The only question is where will everything land?