plus 4, Source: GM in talks to sell old Saab technology - Detroit Free Press

Source: GM in talks to sell old Saab technology - Detroit Free Press
Patriarch Partners invests in Dura Automotive - Detroit Free Press
Automotive Parts & Accessories Manufacturing - PR.com
Automotive & Transport Equipment Manufacturing - PR.com
Dealer Summit Educates over 400 Dealers During 2009’s String of ... - Earthtimes

Source: GM in talks to sell old Saab technology - Detroit Free Press

Posted: 14 Dec 2009 12:04 AM PST

STOCKHOLM -- General Motors Co. is in talks to sell parts of Saab Automobile's old technology to a Chinese company and the entire brand to another buyer, a person familiar with the negotiations said today.

The person said GM plans to sell the technology behind the Saab models 93 and 95 to Beijing Automotive Industry Holdings. The person spoke on condition of anonymity because they were not authorized to speak about the deals.

The person said the sale of the old technology to Beijing Automotive Industry Holdings will help Saab financially but won't stand in the way of a deal to sell the entire Saab brand and its current production to another buyer. Negotiations for such a deal are also taking place, the source said, but declined to say with whom.

GM declined to comment on the talks with the Chinese company.

"We are negotiating on various aspects of Saab and will announce when there is any further development," the company said in a statement today.

General Motors earlier this month said it will phase out the Saab brand if it doesn't find a buyer for the brand before the end of December. About 4,500 jobs at Saab are at stake.

However, GM said new potential buyers had emerged after Sweden's Koenigsegg Automotive AB dropped out of a deal to buy the company in November.

Beijing Automotive Industry Holdings was originally part of the Koenigsegg team and said it would re-evaluate Saab after that deal fell through. The Chinese company didn't return calls seeking comment today.

Private equity firm the Renco Group Inc. and investor group Merbanco Inc. are reportedly also interested in Saab.

Associated Press writer Elaine Kurtenbach in Shanghai contributed to this report.

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Patriarch Partners invests in Dura Automotive - Detroit Free Press

Posted: 11 Dec 2009 01:15 PM PST

A New York-based private equity firm has acquired a majority stake in Rochester Hills-based Dura Automotive Systems.

Patriarch Partners LLC plans to invest as much as $125 million in the supplier, which makes door systems, gear shifters and other parts.

As part of the deal, Patriarch plans to merge another of its local automotive businesses, a welding firm called Global Automotive Systems in Royal Oak with Dura.

"Patriarch is committed to the preservation of jobs and the strengthening of industry through the confluence of manufacturing and technology. This investment exemplifies that strategy," said Lynn Tilton, CEO of Patriarch Partners in a statement.

Patriarch has investments of more than $7 billion in 70 companies, and specializes in distressed businesses. Partriach's investments vary and include health care firms, a cosmetics company and a helicopter maker.

Contact JEWEL GOPWANI: 313-223-4550 or jgopwani@freepress.com.

fivefilters.org featured article: Normalising the crime of the century by John Pilger

Automotive Parts & Accessories Manufacturing - PR.com

Posted: 13 Dec 2009 08:36 PM PST

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fivefilters.org featured article: Normalising the crime of the century by John Pilger

Automotive & Transport Equipment Manufacturing - PR.com

Posted: 13 Dec 2009 08:36 PM PST

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fivefilters.org featured article: Normalising the crime of the century by John Pilger

Dealer Summit Educates over 400 Dealers During 2009’s String of ... - Earthtimes

Posted: 14 Dec 2009 12:25 AM PST

The Dealer Summit events consisted of four educational networking conferences created to supply the dealer community with the knowledge to succeed in today's economic climate. Attending dealers around the country learned new marketing tools and strategies in a relaxed environment with some of the industry's most influential experts.

(PRWEB) December 14, 2009 -- In a different approach to the traditional automotive dealer conference, Dealer Summit was launched to assist auto industry professionals in learning new technologies and solutions. These events provided intimate classroom settings, informative speakers, and an open forum for attendees to share tips and strategies. Over 400 dealers registered for these specialized events with presenters focused on all aspects of marketing in the auto industry. Jeff Frimmersdorf, co-founder of Dealer Summit and former pioneer for eBay Inc.'s eBay Motors, moderated the events which took place at W Hotels in San Diego, Chicago, Dallas, and Ft. Lauderdale.

Jeff explained, "Dealer Summit 2009 has been a great opportunity for dealers in these challenging times. They were given the chance to learn new solutions and best practices to truly become successful and evolve in the new environment they are facing. By taking the dealers step-by-step through new concepts and strategies, each attendee of Dealer Summit was able to associate the information learned with their current practices. They were given the unique opportunity to troubleshoot problems face-to-face with some of the industry's most respected experts."

Riding high from the success of these events, we are excited to finalize the details for Dealer Summit 2010. We are looking to continue sessions hosted by Google search engine consulting companies. Feedback from the sponsors has been extremely positive; Auction123.com, CARFAX, vAuto, OPENLANE, etc, have all expressed interest in joining us again in 2010.

Dealer response was incredibly positive. Kitty Almond of Lexus Carlsbad in Carlsbad, CA stated, "I attended your seminar yesterday in San Diego - it was great. I was glad I spent the time to go." Joe David of Gurnee VW of Gurnee, IL stated, "Please keep sharing the latest and greatest information out there for us. Thanks." Larry Barditch of Kendall Chevrolet in Miami, FL stated, "I learned excellent ideas that we can immediately implement into our game plan."

For more information regarding Dealer Summit, or to inquire about openings for sponsors or speakers, visit the Dealer Summit website at www.dealersummit.com.

About Dealer Summit (www.dealersummit.com) The Dealer Summit mission is to provide an educational, networking and consulting resource for dealerships nationwide. From effective purchasing and inventory management to improved Internet marketing and search engine optimization, a full range of valuable curriculum is presented to help dealers gain an advantage over the competition. Our hands-on approach, along with our interactive seminar and workshop programs, are specifically focused on the challenges of succeeding in today's economic climate.

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Source : PRWeb

fivefilters.org featured article: Normalising the crime of the century by John Pilger