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Filed under: Government/Legal , Jaguar , Land Rover , Earnings/Financials , UK , Tata Land Rover LRX Concept - Click above for high-res image gallery Ratan Tata bought Jaguar and Land Rover (JLR) expecting to pick them up and help them fly. Instead, as with...
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Filed under: Etc. , Earnings/Financials As we reported earlier, Gregory Graham, a third-generation car dealership owner in Ligonier, Pennsylvania tragically died of a heart attack last month while setting fire to the cars on his lot. His company, Graham Colonial...
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Filed under: Car Buying , Earnings/Financials While there are folks predicting a turnaround in car sales and general economic fortunes by the end of this year, for now the status quo remains, and it can be summed up as: "Ouch." J.D. Power has put...
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Filed under: Hirings/Firings/Layoffs , Ford , Earnings/Financials Ford's CEO Alan Mulally took hope a tidy $13.57 million compensation package for his work in 2008, While that's a handsome sum, it represents a 37 percent cut of the $21.67 million he took home in 2007 - and that's before the ex-Boeing exec takes an additional 30 percent haircut for 2009. By comparison, General Motors' CEO Rick Wagoner and Chrysler's Bob Nardelli are slated to have salaries of $1 each, although both automakers have already received $17.4 billion in federal loans. In addition, Automotive News reports that the company will abolish merit raises for salaried workers in the U.S. (and in most of its global ops), kill off a worldwide incentive compensation program for 2008 and newer employees, and give no compensation to board members for 2009. In related news that's causing a bit of consternation, AN is reporting that Mulally and executive chairman Bill Ford will continue to use corporate...
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Filed under: Trends , Euro , Supercars , Earnings/Financials , Celebrities , Special/Limited Editions The Top Gear we know and love includes hordes of outlandishly expensive exotic and luxury cars that we could never afford. Lamborghini and Ferrari will still be represented for Series 13, but if rumors are true, the BBC boys are going to dedicate more air time to the everyday cars that the rest of us drive, and less time with costly stunts like the one seen above. Executive Producer Andy Wilman is shooting for fuel efficient, affordable transportation in light of the global recession. Series 13 was originally planning for a road trip including a Lambo and a Porsche, but instead the excursion will include more sedate transportation like the Toyota iQ. That doesn't sound very exciting, but we have faith in Top Gear to make their episodes equally entertaining... after all, we've seen what they can do with a Chevrolet Lacetti. Top Gear should grip on recessionary economics because even...
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Filed under: Trends , Toyota , Earnings/Financials The Toyoda family has felt the pinch of the global automotive crash in the worst possible place: their wallets. Toyota share prices have plummeted by a very substantial 46% in the past nine months, costing the Toyoda family hundreds of millions of dollars. Soon-to-be company president Akio Toyoda's 4.6 million Toyota shares has dropped $145 million; a fantastic decline, but less than half of his father's loss. Former company president and honorary chairman Shoichiro Toyoda has lost $304 million during the past nine months - enough money to buy over 10,000 loaded Camrys. The Toyodas have a great deal of stock in the company Kiichiro Toyoda founded, yet the family only owns 0.8% off all shares. And while the Toyodas have lost quite a bit of stock value, the company scions aren't likely to sell off their shares. That means the family probably won't lose much real wealth in the long term, though a potential dividend cut could...
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Filed under: Etc. , Videos , Earnings/Financials Nicole Pentis is a high school junior in Bloomfield Hills, Michigan who has been making videos for five years. When C-SPAN sent out a call for students to make a video address to President Obama and tell him what they thought were the most pressing issues facing the U.S., Pentis grabbed her camera. Her subject: the turmoil in her own home - the imploding auto industry. In her eight-minute vid entitled "Auto Industry for America's Past, Present, and Future," Pentis lists the numbers and makes her case for what the auto industry means for America, and uses a history lesson and interviews with several industry workers to back it up. Admittedly, the numbers she uses are debatable, but it can't be argued that the vid is heartfelt. Click the link to have a watch. [Source: Detroit Free Press ] So Cold in the D: Motown student pleads for auto aid in documentary originally appeared on Autoblog on Wed, 25 Mar 2009 07:58:00 EST. Please...
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Filed under: Etc. , Government/Legal , Earnings/Financials , Lifestyle Virginia lawmakers are taking a metaphorical battering ram to suburban cul-de-sacs, those little dead-end roundabouts that are almost all adorned with a yellow sign saying "No Outlet." Caught out by spiraling maintenance and development costs, the Washington Post reports that legislators are now mandating that the state will only maintain new subdivision roadways that meet its revised requirements for narrower dimensions and increased connectivity. That maintenance includes not only things like pothole patches and striping, but also plowing in winter, meaning that the state's new laws will carry very real consequences for planners and developers who choose not to comply. The rise of cul-de-sacs occurred when suburban city planners and private developers decided it was better to have a few roads act as central spines instead of connecting all roads in a grid. Unfortunately, the result has been that the large...
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