Word: auto
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...says the sale of Hummer, which GM valued at $500 million, should allow it to preserve more than 3,000 American jobs. Tengzhong says it plans to maintain Hummer's existing senior management team and will enter into long-term assembly and supply agreements with GM. (Read "China's Auto Bailout Takes a Different Route...
...sold on the mainland. As in the U.S., in China large SUVs have a certain cache, but with high taxes on imports, there is little demand. "To drive a Hummer, for rich people it fulfills a certain dream," says Yale Zhang, a Shanghai-based analyst with CSM Worldwide, an auto-industry consulting firm. "In China, it's a niche market for sure. It's too big; it consumes too much gasoline. The price is very high, and very few people can afford it." The H3, the most popular Hummer, averages 15 miles...
...Over the past five months, the Democratic monopoly has expanded the federal government by historic proportions. It began with further taxpayer-funded bailouts of Wall Street and the auto companies, then extended the bailout fever to the housing industry. After campaigning on a promise to end the Republicans’ tenure of irresponsibility, full Democratic control in Washington has produced policies that reward rampant irresponsible behavior and penalize innocent and responsible taxpayers who are forced to foot the bill...
...Napoleon Bonaparte, it became a military academy. Now, although its students still attend formals in uniform, it is the number one school in France, and grooms leaders for careers in science, business, and politics. Former President Valéry Giscard d’Estaing is a Polytechnicien, as were auto baron André Citroën and scientists Siméon Poisson, Augustin Fresnel, Henri Becquerel, and Henri Pointcaré. Each year, the top five hundred science and economics students in France join the community in Palaiseau, and after graduation, they continue on to the upper echelons of institutions across...
...announcement by General Motors that it will close its Willow Run transmission plant as part of its restructuring is being taken as a sign of how far the auto giant has fallen. Willow Run is, deservedly, a legend. But the lessons from its history are not entirely the ones usually drawn...