| Milford Twp. OKs tax breaks for proposed GM data center |
May 11th, 2013 |
General Motors Co. has received approval from Milford Township on tax breaks worth about $3.2 million for a $258 million information technology data center the automaker has proposed building at its Milford Proving Ground.The Milford Township board in a special meeting late last month approved a tax abatement for nine years, plus three years for construction in a 5-2 vote, said township clerk ...
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| NHTSA investigating more than 100K Corvettes over low-beam headlights |
May 11th, 2013 |
Washington - U.S. safety regulators on Friday opened a preliminary investigation into more than 100,000 Chevrolet Corvette sports cars after complaints that headlights suddenly died.The National Highway Traffic Safety Administration said it is investigating 103,374 2005-07 Corvettes after receiving 30 complaints from owners reporting a loss of both low-beam headlights while driving at night ...
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| Magna founder sees shift abroad |
May 11th, 2013 |
Washington - The founder of North America's largest auto supplier says the struggling European auto industry will need to get smaller to survive.Frank Stronach, 80, founder and former chief executive of Ontario-based Magna International who is worth an estimated $1.2 billion, said in a Detroit News interview that the marketplace will force painful changes.European auto sales are down 10 ...
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| Progress being made in ResCap bankruptcy cases court-appointed examiner says |
May 11th, 2013 |
Washington - A deal may be near to resolve claims from creditors of Ally Financial's bankrupt mortgage unit Residential Capital LLC that could allow for a resolution of the case, a court-appointed examiner said Friday.ResCap, the nation's fifth-largest mortgage servicer, filed for bankruptcy in May 2012. At the time of the bankruptcy, ResCap held 2.4 million U.S. residential loans with ...
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| Auto review Stretched Mini Paceman delivers more power nimble performance |
May 11th, 2013 |
Linguistically, the Paceman is a Britishism wrapped in an Anglicism. It's a term from the decidedly English sport of cricket for a person who rolls a ball with lightning speed - a term that, when transposed to the newest car from Mini, describes a small object careening across the pavement.The seventh Mini model in its 12 years under BMW, the Paceman is a stretched coupe that pushes the ...
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| Neil Winton GMs Opel out of skid but long term viability questioned |
May 11th, 2013 |
It's all gone quiet for now at General Motors Europe and its Opel and Vauxhall subsidiaries, thanks to some mildly positive news about the bottom line, an agreement, albeit it grudging, with unions, and protestations from Detroit that yes, it really, really is committed to the company long-term, come rain or come shine.Some experts see the first signs of a turnaround with the possibility of ...
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| Busch brothers have big day in NASCAR | Auto racing |
May 11th, 2013 |
Kyle Busch won the NASCAR Nationwide Series race in Darlington, S.C., and older brother Kurt Busch led qualifying for Saturday's Sprint Cup Series ...
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| Nissans Net Profit Jumps |
May 11th, 2013 |
YOKOHAMA, Japan (Reuters) - Nissan Motor Co projected a 22.6 percent rise in net income for its current business year as the weakening yen allows Japanese carmakers to cash in overseas profits at more favourable rates. But Carlos Ghosn, who heads both the Japanese firm and France's Renault SA, said that while Nissan's annual global retail sales volumes will reach a record, he expects the ...
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| When fuel efficient cars don’t sell dealers start dealing |
May 11th, 2013 |
All-New Ford Fusion Hybrid - September 17, 2012 -- The all-new Ford Fusion is launched in Santa Monica, Calif., as media have the first opportunity to drive the new product. The all-new Ford Fusion Hybrid builds on the company's commitment to give fuel-efficiency-minded customers the Power of Choice. The new Ford Fusion hybrid is targeted to achieve better fuel economy than the Toyota Camry ...
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| Government says 58.4 million shares of General Motors stock sold so far this year |
May 11th, 2013 |
WASHINGTON - The government has sold another piece of its stake in General Motors Co. The Treasury Department said Friday in its April report to Congress that so far this year it has sold 58.4 million shares of GM stock and earned net proceeds of $1.6 billion. At the end of April, Treasury had recovered about $30.7 billion of the $49.5 billion bailout it gave the Detroit automaker. That means ...
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