GM Revises 2005 Losses Up to $10B
General Motors says that it's revising its 2005 accounting to reflect even deeper losses in its automotive businesses. The changes will mean that GM lost $2 billion more in 2005 than previously reported, for a total of $10.6 billion. GM says restructuring costs from upcoming plant closings and the reorganization of Delphi Corp., one of its chief suppliers, are at the root of the restatement, which will cause GM to delay some financial reports. GM had previously stated losses of $8.6 billion for last year.
Suzuki Plots Future Without GM by Joseph Szczesny
Tiny automaker plans on big expansion abroad.
Gas Prices Go Up
Gas prices are on the rise again, with current pump prices at the highest levels since last November 9, according to several reports. The current nationwide average price for self-serve regular unleaded gasoline now stands at $2.393 per gallon, more than six cents higher than last month and more than 33 cents higher than a year ago.
"Gasoline prices have begun their seasonal move higher,"
says Kris Lathan, AAA Chicago's director of public affairs. "Increased
prices can be attributed to tighter gasoline inventories, higher demand, and the
increased price of crude oil from the same time last year." Also hanging
over the head of gasoline retailers and motorists is the uncertainty created by
instability in the Persian Gulf and
Delphi Deal Dimming
A deal that could end strike talk
at the bankrupt Delphi Corp. is growing less and less likely, according to
officials from the United Auto Workers. UAW officials described the
three-way negotiations between the union,
Delphi Sets Final UAW Deadline
by Joseph Szczesny
Will there be a strike on March 30?
SUVs Do Well in NHTSA Crash Tests
The latest round of crash tests at the National Highway Traffic Safety Administration (NHTSA) put seven SUVs at the top of government ratings for safety. The NHTSA reported on Thursday that the seven utes - the 2006 Ford Explorer, Honda Pilot, Hyundai Tucson, Mercedes Benz ML-Class, Nissan Murano, and Subaru B9 Tribeca - all received five-star rankings for front and side-impact crash tests. Also scoring five stars on both front and side-impact tests were the 2007 Ford Explorer Sport Trac four-door pickup and the four-door Toyota Tacoma pickup. The NHTSA tested 44 vehicles in its latest round of tests, the results of which can be searched at the agency's Web site, www.nhtsa.dot.gov.