The News Review:
- Korean auto maker Ssangyong enters receivership
- UAW strike would kill auto loans
- Uncertain outlook sets the stage for toned-down auto show
- US Auto Makers’ Silver Bullet: Technology For Everybody
Korean auto maker Ssangyong enters receivership
MarketWatch
“The company has been suffering from a serious liquidity crisis because of plummeting vehicle sales. The company had difficulties in raising funds due to a serious credit crunch globally” the Korean Herald cited Ssangyong as saying. The receivership agreement will offer some protection from creditors and allows the auto maker to avoid formal bankruptcy. “We tried to save the company by contacting the government and financial institutions but ultimately failed. It was an unavoidable choice” Ssangyong said. For its part SAIC said that it “will work with all parties so that Ssangyong can achieve a plan to normalize its operations” the Herald reported.
UAW strike would kill auto loans
Detroit Free Press United States
“Both sides are seeking to work together and work through this. “Peter Henning a professor at Wayne State University Law School sees the strike-default provision in the federal loans deal as making the next labor negotiations much more complicated. “In 2011 unless the economy turns around in a major way it maybe the most bizarre auto negotiation we’ve ever seen where no one has any leverage” Henning said. “The UAW can’t walk out.
Related from Tianjigh: UAW strike would kill auto loans
Uncertain outlook sets the stage for toned-down auto show
DetNews.com MI
But this year even the biggest boosters are resigned to the prospect that the 2009 North American International Auto Show will be a cheerless event. With most of the leading players in the U. market losing money automakers have scaled back their activities at the show.
Epoxy Floor Coatings
US Auto Makers’ Silver Bullet: Technology For Everybody
CNNMoney.com
Auto makers which are now almost even in quality standards are now equippingtheir cars with docking stations for MP3 players hideaway video players andvoice-activated technologies. Most are also pushing these technology optionsinto entry-level vehicles that sell for under $20000. “It’s a new era” said Paul McCarthy PricewaterhouseCoopers’ U.