GM ready to let Opel go for free?…GM, Earnings/Financials, OpelGeneral Motors wants out of Opel, and according to new reports, it is willing to let the German automaker go without receiving any money for it. The only requirement is that the buyer must inject €500 million (around $652M USD) into Opel for operations. While GM CEO Fritz Henderson has said there are six serious inve…

 GM To Cut 190,000 Units, Shut 13 Plants, Some Permanently [Carpocalypse]

(Source: Autoblog)

Ford’s dealer development program works to help people become dealer principles who might not otherwise have the chance. The 64 members of the program, most of them black or Hispanic, are set up with stores by Ford and then buy out Ford’s interest in the dealership with revenues. To give them a boost and, presumably, free up Ford money, Automotive News is reporting that Ford is offering dealers in the program an offer they’ll have a hard time refusing: complete ownership of their stores for $1.

To take advantage, though, the dealers will need to have private financing for their operating capital in place by September 30. If they can prove to Ford that they have enough private resources, they will take complete control of their stores and Ford will forgive any money the dealer still owes to The Blue Oval. Even though Ford would technically lose money on any dealer who accepted the offer, the automaker would no longer need to be involved in the dealership or in its floorplan financing.

Click here to read more.

Rick Karr, correspondent for Blueprint America, discusses his report on nation’s ailing freight-rail system airing on PBS’ The NewsHour with Jim Lehrer

Last week, President Obama announced an ambitious goal to build a high-speed passenger rail line in ten regions across the country. But even if President Obama’s plans for passenger rail materialize, it won’t necessarily help the entire rail system. America’s freight, the cargo that moves goods across the country by rail, is in big trouble. To look at the state of the rails, The Takeaway talks with Rick Karr, a correspondent for Blueprint America. His report on the nation’s ailing freight-rail system will air on The NewsHour with Jim Lehrer tonight, offers insight into the  bottlenecks on America’s freight rail network and how they may be hindering the nation’s economic competitiveness.

In the Midwest, Chicago has been a freight rail hub for around a hundred and fifty years. In the old days, some lines brought raw materials to the city – like cattle to the stockyards – while others carried finished products to market. The city’s rails are still laid out that way: a couple of lines come in from the west and a couple of others from the east. Even though Chicago still handles about a third of the nation’s freight, a lot of it has to stop there – wait there – and shift from one railroad to another.

As a result, traffic on Chicago’s rails is even slower than traffic on its roads: A two-thousand-two study found that freight trains pass through the city at an average of just nine miles an hour.

But there is no agency in Washington, D.C. responsible for untangling, modernizing, or maintaining the nation’s freight rail system – or for paying for those improvements. And so, Federal support for improving freight has to come through the back door – tacked on to other transportation projects.

The Obama Administration’s plan announced last week for the expansion of high-speed passenger rail in several key corridors – including Chicago and the Midwest – is likely to improve the speed of freight as both kinds of trains share the same tracks in much of the country.

Click below to listen. 

Image: Thingermejig@ Flickr

(Source: New York Times)

 BEIJING — Senior Chinese officials on Friday outlined how they aimed to turn their country into the world’s largest producer of electric cars, including a focus on consumer choice rather than corporate subsidies.

Speaking at a conference at the government’s prestigious Diaoyutai guesthouse here, the officials acknowledged that their efforts faced challenges in terms of the cost and safety of electric cars. They promised a nationwide effort by manufacturers, universities, research institutes and government agencies to overcome these obstacles.

(Source: CNN)

Their livelihood was being threatened, and they were tired of waiting for government help, so business owners and residents on Hawaii’s Kauai island pulled together and completed a $4 million repair job to a state park — for free.

Volunteers bring in a heavy crane for work on a bridge to Polihale State Park on Kauai last month.

Polihale State Park has been closed since severe flooding destroyed an access road to the park and damaged facilities in December.

The state Department of Land and Natural Resources had estimated that the damage would cost $4 million to fix, money the agency doesn’t have, according to a news release from department Chairwoman Laura Thielen.

“It would not have been open this summer, and it probably wouldn’t be open next summer,” said Bruce Pleas, a local surfer who helped organize the volunteers. “They said it would probably take two years. And with the way they are cutting funds, we felt like they’d never get the money to fix it.”

And if the repairs weren’t made, some business owners faced the possibility of having to shut down.

Ivan Slack, co-owner of Napali Kayak, said his company relies solely on revenue from kayak tours and needs the state park to be open to operate. The company jumped in and donated resources because it knew that without the repairs, Napali Kayak would be in financial trouble.

“If the park is not open, it would be extreme for us, to say the least,” he said. “Bankruptcy would be imminent. How many years can you be expected to continue operating, owning 15-passenger vans, $2 million in insurance and a staff? For us, it was crucial, and our survival was dependent on it. That park is the key to the sheer survival of the business.”

So Slack, other business owners and residents made the decision not to sit on their hands and wait for state money that many expected would never come. Instead, they pulled together machinery and manpower and hit the ground running March 23.  Watch the volunteers repairing the road »

And after only eight days, all of the repairs were done, Pleas said. It was a shockingly quick fix to a problem that may have taken much longer if they waited for state money to funnel in.

“We can wait around for the state or federal government to make this move, or we can go out and do our part,” Slack said. “Just like everyone’s sitting around waiting for a stimulus check, we were waiting for this but decided we couldn’t wait anymore.”

Thielen has been waiting, too. She wants the legislature to approve her Recreation Renaissance project, a $240 million booster shot to help fix parks across the state. Without it, at least five state parks may be forced to close, and there would be no emergency repair money to fix Polihale State Park.

“We shouldn’t have to do this, but when it gets to a state level, it just gets so bureaucratic, something that took us eight days would have taken them years,” said Troy Martin of Martin Steel, who donated machinery and steel for the repairs. “So we got together — the community — and we got it done.” 

Click here to read the entire story and to view awesome pictures from this wonderful community initiative.

 (Source: Financial Times)

(Source:  New York Times; Photo: Jay Mailin/Bloombern News)

Obama’s Top Auto Industry Troubleshooter

After 26 years as one of the most politically connected investment bankers on Wall Street, Steven Rattner finally took a job in Washington — only it is not quite the one friends and business associates thought it would be.

(Source: Associated Press via Yahoo! News)

WASHINGTON – U.S. highway deaths in 2008 fell to their lowest level in nearly 50 years, the latest government figures show, as the recession and $4 per gallon gas meant people drove less to save more. Safety experts said record-high seat-belt use, tighter enforcement of drunken driving laws and the work of advocacy groups that encourage safer driving habits contributed to the reduction in deaths.

Preliminary figures released by the government Monday show that 37,313 people died in motor vehicle traffic crashes last year. That’s 9.1 percent lower than the year before, when 41,059 died, and the fewest since 1961, when there were 36,285 deaths.

A different measure, also offering good news, was the fatality rate, the number of deaths per 100 million vehicle miles traveled. It was 1.28 in 2008, the lowest on record. A year earlier it was 1.36.

“The silver lining in a bad economy is that people drive less, and so the number of deaths go down,” said Adrian Lund, president of the Insurance Institute for Highway Safety. “Not only do they drive less but the kinds of driving they do tend to be less risky — there’s less discretionary driving.”

Fatalities fell by more than 14 percent in New England, and by 10 percent or more in many states along the Atlantic seaboard, parts of the Upper Midwest and the West Coast, according to the National Highway Traffic Safety Administration.

“Americans should really be pleased that everyone has stepped up here in order to make driving safer and that people are paying attention to that,” Transportation Secretary Ray LaHood said.

 (Source: AutoBlogGreen)

In an attempt to stay politically neutral, we’re going to stop short of offering opinions about Rush Limbaugh’s recent statements regarding hybrid automobiles and the intent of automakers like Ford and Honda to “please politicians overseeing the industry’s multibillion-dollar bailout.” What we will say, though, is that Limbaugh’s a little off when he suggests that hybrid vehicles are entirely unwanted. So sayeth Rush:

Nobody’s buying ’em. Nobody wants them! The manufacturers are making them in droves to satisfy Obama! Sorry for yelling. Nobody wants them!

While it’s true that hybrid vehicle sales tend to rise and fall with the ebb and flow of fuel prices, which are currently down from the record highs from a year ago, Edmunds’ Green Car Advisor points out that 1.3 million hybrid vehicles have been sold in America since 1999, the first year the fuel-saving vehicles entered the market. Obviously, there are more than a few people out there who want to cut down on their fuel usage. Further, these hybrid vehicle programs have been in development since well before President Obama was elected.

When TransportGooru took a sneak peek into the trascripts posted on Mr. Limabugh’s website, the following golden statements caught the attention:   “I will only say that those people have probably given up their individuality for what they think is a larger cause, but nobody wants them.  That doesn’t matter, because as I mentioned earlier in the program, a couple hundred more million acres placed off-limits, energy rich, shale oil, natural gas, placed off-limits by the US Congress.  We’re gonna become more dependent on foreign oil, more dependent on foreign oil.  Gasoline prices are going to go through the roof at some point, Big Oil will be blamed by the Obama administration, and then you will be forced to start considering cars you do not want and you are not buying.  Good-bye freedom.  We have got to drive these people out of office before it’s too late. ”

TransportGooru’s research found another rushed judgement on this issue back in June 2006 , as described in a Huffingtonpost article and the author David Franklin offers his counter along the way:

Rush says that, “Contrary to any loose statements made by our marketing partners in the environmental community and media, petroleum not consumed by Prius owners is not ‘saved.’ It does not remain in the ground. It is consumed by someone else. Greenhouse pollutants are released.” I find this statement baffling! Is there a backlog of “oil orders” that lies unfulfilled somewhere that I am unaware of? Are there companies out there just waiting for people to buy more hybrids, so that they can have their oil orders taken off backorder? Not to my knowledge. Logic would dictate that if demand for oil decreases, drilling and production of oil will decrease as well!

Perhaps if it was put another way it would be easier for Rush to grasp the cold hard logic behind what hybrids can do for this nation; “If every privately owned vehicle in America was traded in today for a Prius, it would reduce the amount of oil our nation requires to a level that could be fully supported by our own resources!”

Let me say that again in case it didn’t sink in fully the first time; “If every privately owned vehicle in America was traded in today for a Prius, it would reduce the amount of oil our nation requires to a level that could be fully supported by our own resources!” (and that’s without having to drill in Alaska!)