Word: auto
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...even though the Michigan court has deep experience with auto-related bankruptcies - it has handled those of partsmakers such as Collins & Aikman, Intermet and Plastech Engineered Products - and has fielded its share of megacases, including the landmark bankruptcy that resulted from lawsuits against Dow Corning over silicone breast implants, landing GM may be an uphill battle. "The [lawyers] for the automobile companies sleep much closer to New York and Delaware than they do to Detroit," says Hugh Ray, a partner at the Houston-based law firm Andrews Kurth who is also admitted to the New York bar. "You're afraid...
...will now be required to get 30.2 m.p.g. (up from 27.5), while the standard for light trucks will increase from 23.1 m.p.g. to 24.1. The new rules apply only to 2011 models; the Obama Administration is still debating how to apply them to future model years, given the U.S. auto industry's precarious financial situation...
...Whether it is Wagoner’s fault or not, however, GM’s current position is financially untenable. The auto company is dependent on government handouts, and there are no signs that its status will be able to stand on its own any time soon. Thousands, even millions, of jobs and a significant part of the American economy (especially the battered manufacturing sector) depend on GM remaining afloat. Whether or not pulling GM out of the red is possible at this point, though, it is clear that Wagoner is not the person for the job. By urging...
...says action films can't address today's most pressing international issues? Fast & Furious, the fourth episode in Universal's car-chase franchise, tells the story of professional drivers toting heroin across the border into California and corralling the villainous Mr. Big. The movie solves the auto-buying drought and the Mexican drug wars in one huge testosterone fantasy...
...movie released in the normally somnolent month of April. (Previous top dog of the cruelest month: the Adam Sandler-Jack Nicholson Anger Management, which picked up $42 million six years ago.) F&F also cadged $30.1 million internationally, bringing its three-day cume to $102.6 million. (See TIME's auto special: "The 50 Worst Cars Ever Made...