plus 4, Feds seize rare sports car from CA showroom - RealClearPolitics |
- Feds seize rare sports car from CA showroom - RealClearPolitics
- GM Appoints Tim Lee to Head International Operations - Transworld News
- GM, Chinese partner in India venture - San Francisco Chronicle
- GM buys Suzuki's stake in CAMI plant - Vancouver Sun
- Buy Lumax Automotive Systems: Sukhani - MoneyControl.com
| Feds seize rare sports car from CA showroom - RealClearPolitics Posted: 07 Dec 2009 10:09 PM PST December 08, 2009 Feds seize rare sports car from CA showroomThe Associated PressFederal agents have seized a rare Italian sports car they believe was illegally imported by a California man and his co-conspirators. Immigration and Customs Enforcement officials alleged Monday that automotive engineer Claudio Zampolli, the creator of the 1994 Cizeta (chee-ZEY'-tah), brought it into the country in 2001 for maintenance and repairs. It is one of fewer than a dozen produced and sold for about $600,000. It was supposed to be exported within a year. The government said the vehicle's stay in the country violates customs rules. They said it is illegal to sell the car because it does not meet U.S. environmental and safety standards. A call to Zampolli's attorney was not immediately returned. This content has passed through fivefilters.org. |
| GM Appoints Tim Lee to Head International Operations - Transworld News Posted: 07 Dec 2009 09:05 PM PST Ft Lauderdale, Florida 12/08/2009 05:05 AM GMT (TransWorldNews)
General Motors Co. said Monday it has appointed Tim Lee, its vice president for global manufacturing and labor relations, to head its international operations, according to Associated Press.
The latest move is part of a shakeup that last week saw the departure of Fritz Henderson as CEO.
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Like his predecessor Nick Reilly, Lee will be based at GM's international headquarters in Shanghai, the company said in a statement. Reilly has been named president of GM Europe.
Lee will be overseeing GM's Asia, Latin America, Africa and Middle East operations.
The appointment is part of leadership changes announced by GM Chairman Ed Whitacre, who has replaced Henderson -- after he had served just eight months as CEO -- until a new chief executive if found.
Last week, GM and its main Chinese partner, Shanghai Automotive Industries Corp., announced a venture to sell vehicles in India, a deal that involved GM giving up majority ownership in its biggest China joint venture.
The two companies plan to collaborate in future efforts to sell vehicles in other emerging markets such as Southeast Asia.
GM has enjoyed huge success in China in recent years in its partnership with SAIC, and the move appeared to reflect the American automaker's need for money as it overhauls its operations following a restructuring in U.S. bankruptcy court.
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| GM, Chinese partner in India venture - San Francisco Chronicle Posted: 06 Dec 2009 02:15 AM PST (12-06) 04:00 PST Beijing - -- General Motors Co. and its main Chinese partner are teaming up on a venture to sell vehicles in India, uniting in the two fastest-growing car markets in a deal that reflects GM's reduced status as a global automaker. As part of the deal, GM gave majority ownership of its main China joint venture to Shanghai Automotive Industries Corp., which is to invest up to $350 million in the India initiative. GM said they also would collaborate in future efforts to sell vehicles in other emerging markets such as Southeast Asia. GM has struggled for market share in India's fast-growing car market and a company official said bringing in SAIC and its investment meant the Indian venture could develop more quickly. But GM's decision to cede control of Shanghai General Motors to SAIC left analysts puzzled. GM has had huge success in China in recent years and has worked hand in hand with SAIC to achieve it. "(With) General Motors and SAIC, everything was done jointly, all decision-making was split right down the middle," said Tim Dunne, director of Asia-Pacific market intelligence for JD Power & Associates. "Is there something that we're not seeing? I don't know, but it's not typical ... to just cede management control over the budget and who runs the company." Some analysts said the moves in China and India reflect the U.S. automaker's pressing need for money as it overhauls operations following a restructuring in U.S. bankruptcy court. The U.S. government owns 60 percent of GM after providing billions of dollars in loans. "We have an outstanding relationship with SAIC," said Nick Reilly, president of GM's international operations, in a conference call with reporters. "It seemed to us very sensible and a big opportunity to deepen that relationship and broaden that relationship outside of China." GM agreed to turn over 1 percent of Shanghai General Motors to SAIC, which will give the Chinese partner 51 percent of the company. Reilly said GM valued that 1 percent at $85 million.
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| GM buys Suzuki's stake in CAMI plant - Vancouver Sun Posted: 04 Dec 2009 11:03 PM PST The Canadian subsidiary of General Motors is buying out Suzuki Motor Corp.'s stake in the CAMI Automotive Inc. plant in Ingersoll, Ont. The move will give GM 100% control of the CAMI plant, which builds GM's Chevrolet Equinox and GMC Terrain vehicles. "GM Canada recognizes that the culture and values of the CAMI workforce have played a key role in producing world class vehicles," said Arturo Elias, president of GM Canada. "Bringing CAMI completely into the GM family is a strong vote of confidence in the people there and builds on the recent positive news at the plant since the highly successful launch of the Chevrolet Equinox and GMC Terrain." GM said sales of the Equinox and Terrain rose 17% during November. The company has added a third production shift at the CAMI plant and is spending $90-million to upgrade the plant's body shop. The moves will boost output to 40,000 vehicles a year. This content has passed through fivefilters.org. |
| Buy Lumax Automotive Systems: Sukhani - MoneyControl.com Posted: 08 Dec 2009 12:04 AM PST Business Business News | Economy | Earnings | BSE NSE Notices General News Current Affairs | Politics | World News | Sports | Entertainment Corporate Strategy Management | Advertising | Marketing | Legal Personal Finance Tax | Insurance | Credit Cards | Loans | Property | Retirement | Investment Help | Financial Planning | Fixed Income This content has passed through fivefilters.org.  This posting includes an audio/video/photo media file: Download Now |
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