Word: fuel
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...Three Blew It Of all Detroit's failures - the failure to master small cars, failure to cut costs, failure to get tough with the UAW, failure to improve fuel efficiency - the failure to learn, says MacDuffie, is perhaps its worst...
...remain below $2 a gal. was asinine. In Europe, gas had long sold for more than $5 a gal., and tax policy ensured that it would stay there; the growing BRIC countries - Brazil, Russia, India, China - were driving up demand. Detroit's response was to lobby furiously against increasing fuel-economy standards instead of building more-efficient SUVs...
...lesson the CEOs had clearly learned since their last disastrous appearance on Capitol Hill was the need to present a better face to their plight. They all drove hybrid or fuel-cell vehicles from Detroit, in stark contrast to the corporate jets all three arrived in last month. Senator Richard Shelby of Alabama, the top Republican on the panel and a fierce opponent of giving them any aid, grilled them on their road trips. "Did you drive? Did you have a driver?" he pressed. "Do you plan on driving back...
...surprised to read that Detroit needs a huge loan to create new fuel-efficient models. Both Ford and General Motors have an excellent range of fuel-efficient models in their overseas car plants, so all Detroit has to do is to apply their overseas expertise in the U.S. I drive a 1.2-liter Opel Corsa (made in Germany) and our second car is a 0.8-liter Chevrolet Matiz (made in Korea). These cars aren't "gas guzzlers." Jan Nieuwenhuizen, DORDRECHT, NETHERLANDS...
...Democrats had been looking to divert $25 billion of the $700 billion bank-bailout funds allocated in September to help the automakers, a move opposed by many Republicans critical of an industry that has long resisted tighter fuel-efficiency standards, continued to invest in gas-guzzling trucks and SUVs even as oil prices soared and given its union unsustainably generous deals on salary and benefits. "I don't believe this is a good idea, to take $25 billion and give it to the three major car companies, which I think have a business plan that's doomed to fail," Senator...