Who’s this guy?
Meet Kenneth R. Feinberg, the new pay “czar” for the White House. He’s tasked with reigning in the out of control compensation at companies the government helped recently.
I think it should be noted right off the bat that this is tied to executive compensation and bonuses…two pots of money that are so [...]

Lots of “clunking” going on this morning at the Donk, but it’s the hot topic and since this criticism comes from a Dem I thought it worthy of pointing out some opposition from my side of the fence.
From her Tumblr blog:
Of course the cash for clunkers program is popular, we’re giving away money.
My concerns [...]

TIMES crunches the numbers and comes up with some encouraging data…
The initial data released by Department of Transportation, however, shows that so far cash for clunkers has been a green success. The clunkers averaged 15.8 m.p.g., compared with 25.4 m.p.g. for the new vehicles purchased, for an average fuel-economy increase of 61%.
On the whole, [...]

A new website for the controversial, popular program is up and it includes some things you need to know if you’d like to take advantage.

Your vehicle must be less than 25 years old on the trade-in date

Only purchase or lease of new vehicles qualify

Generally, trade-in vehicles must get 18 or less MPG (some very large [...]

It’ll be a while before we know if this arrangement will work or not, but I can’t help but think a new G.M. that builds better, greener autos will be competitive in the future.
From NY Times:
“We deeply appreciate the support we’ve received during this historic transformation and will work hard to repay the trust and [...]

Hello this is Mike Fritz from the American News Project. We have a new story out that focuses on those most affected by the bailout of General Motors: laid off autoworkers.
It examines one of the central tensions in the public takeover of the company: Should federal dollars be spent building a lean, [...]

Interesting link to new corporate logos…

Not too many people are dancing over the news of GM’s bankruptcy, but opinions are decidedly mixed on what the government ownership of the car company will mean.
Lee Cary, of American Thinker sees the era of Government Motors dawning with coercive attempts to force a Green fleet onto American consumers. This, in Cary’s opinion, will [...]

All the kings horses and all the bond deals couldn’t keep GM from cracking. As feared, the car giant has filed for bankruptcy. Now what?
The plan is for the federal government to take a 60 percent ownership stake in the new GM. The Canadian government would take a 12.5 percent stake, with the United Auto [...]

This is an extreme example, but I can’t help but think car companies can easily hit the 35 MPG mileage standards Obama is about to lay out if the following is possible for a street ready car.
From Green Car:
Volkswagen’s CEO, Martin Winterkorn recently confirmed the company is working on a car that will get 235 [...]

This is a pretty big stake in the ground, because they’ll be using California’s standards…the toughest in the nation.
No doubt you’ll be hearing that this is bad for business, but that’s what they said about seat belts, airbags and every other time CAFE standards were raised. And I think we’re all fairly aware that the [...]

In a bid to survive bankruptcy, Chrsyler is closing nearly 800 dealerships, a full quarter of the company’s dealers. The dealers themselves had no say.
While bankruptcy may be a better long-term solution for Chrysler than continued government bailouts, the short-term will not be pretty. Car dealerships provide a lot of jobs and a lot of [...]

Despite all the government assistance and talk of providing more, GM lost $6 billion last quarter with earnings dropping by 47%.
GM executives say car buyers are turning away from GM out of concern the company will end up in bankruptcy and won’t honor its warranties. Could the prospect of bankruptcy help force bankruptcy? To [...]

This certainly turns the tables on the notion that unions are somehow “anti-business.”
From USA Today:
STERLING HEIGHTS, Mich. — The United Auto Workers union will own 55% of a restructured Chrysler LLC and its retiree health care trust will get a seat on the board if union members vote to approve contract concessions this week.
Chrysler stock [...]

And Pontiac will vanish.
The carnage continues…
DETROIT – General Motors Corp. could be majority owned by the federal government under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.
The plan, which includes an offer to swap roughly $27 billion in bond [...]

Oh, and hybrids too.
From NY Times:
The goal, which radiates from the very top of the Chinese government, suggests that Detroit’s Big Three, already struggling to stay alive, will face even stiffer foreign competition on the next field of automotive technology than they do today. [...]
To some extent, China is making a virtue of a liability. [...]

After months of hand-wringing, bailouts and backlash, new GM CEO Fritz Henderson says bankruptcy is still a very real possibility:
The company, he said, has until June 1 to accomplish changes sought by the government, or it will be in bankruptcy. The 60-day deadline should be enough time, but if it becomes evident that the changes [...]

So it’s pretty apparent people are upset that there are different rules for the automakers and banks. Well, I’m not sure what to tell you except the entire economy isn’t leveraged against the health of the Big 3. Yes, they’re vitally important and I think we should continue to help them out, but they don’t [...]