The News Review:
- Senate rejects plan giving auto stock to taxpayers
- Auto recyclers leery of cash for clunkers
- Global Auto Makers Post Dismal 2Q Earnings; BMW Exits Formula 1
- TM WALSH Auto hearing takes some strange turns
- $350M auto plant to open in Indiana hire 1500 workers
Senate rejects plan giving auto stock to taxpayers
The Associated Press
and Chrysler Group LLC. The Senate defeated the plan sought by Sen. Lamar Alexander R-Tenn.
Auto recyclers leery of cash for clunkers
The Associated Press
Used engines and drivetrains are a big part of recyclers’ income from each scrapped car and under the federal program those engines must be destroyed. The idea is to promote fuel efficiency and help automakers but it comes at a time when more than a dozen U. auto parts suppliers have filed for bankruptcy this year.
Global Auto Makers Post Dismal 2Q Earnings; BMW Exits Formula 1
Wall Street Journal
) A clutch of Japanese and European auto makers reported dismal earnings Wednesday as the global economic crisis continued hammering sales of cars and light trucks the world over. There were glimmers of an imminent turnaround in the industry’s fortunes as some manufacturers’ second-quarter results exceeded analysts’ expectations. maker of Insight hybrid and Civic compact cars boosted its full-year earnings target helped by stringent cost cuts and stronger than expected sales in China and Japan. Daimler AG reported solid sales.
TM WALSH Auto hearing takes some strange turns
Detroit Free Press
“Now that he has received it it appears that neither he nor his representatives can be found to help account for these funds” Hensarling said. Tough guy taking a swipe at the guy who’s not in the room. Standing up to scrutinyThe main event Monday was the testimony of Ron Bloom head of bama’s auto industry task force. Elizabeth Warren a Harvard law professor and head of the oversight panel asked Bloom why banks that got TARP money didn’t face the restrictions placed on GM and Chrysler. Bloom said he was only working on autos and couldn’t compare them with the financial outfits. “I’ve had my hands full trying to wrestle with two very large troubled auto companies” he said. “That takes up 21 hours of the day.
$350M auto plant to open in Indiana hire 1500 workers
Bizjournals.com
has selected Connersville for its proposed headquarters and manufacturing operations according to the Indiana Economic Development Corp. The company is going to invest $350 million into a 1. 8 million square-foot facility formerly occupied by auto supplier. _8DB693272C994D21B916B076A63F3556.
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