Headlight News Weekly for December 18, 2000 Page 3

December 18, 2000

COVISINT IS LEGIT The online parts procurement parts exchange known as Covisint has officially become a company. The first plans of the venture were announced in February, and Covisint was operational in late September. The exchange was formed by manufacturers DaimlerChrysler, Ford, General Motors, Nissan, and Renault. The service monitors supply, inventory, and facilitates orders of parts from original-equipment manufacturer (OEM) companies.

SCHMIDT TO HEAD FORD RESEARCH Ford Motor Company has named Dr. Gerhard Schmidt, formerly director of powertrain development at BMW, to the position of vice president, research. Schmidt has held several positions at BMW, including developing the company's first diesel engine, and later, overseeing powertrain operations for the BMW Group. Schmidt will assume his position next spring, replacing William F. Powers, who recently announced his retirement from the company.

GM NAMES DEVINE NEW CFO General Motors has named John Devine its new chief financial officer and vice chairman. Devine previously held the chief financial officer position at rival Ford Motor Company from 1994 to 1999, and he is currently the chairman and chief executive of the firm Fluid Ventures.

DAEWOO WILL SEEK MORE CUTS Daewoo Motor Company has said that it plans to seek more job cuts as part of a cost-cutting plan designed to save the company and encourage interest from General Motors. According to other sources, up to 6846 jobs could be cut by the new plan, although Daewoo's labor union said that it would resist the plan. On November 27, the union agreed to a restructuring package and about 3500 total jobs cut. Although creditors have recently agreed to kick in more funds, Daewoo is soon likely to be placed in court receivership.

DC MAY ADD VEHICLE TO WINDSOR ASSEMBLY DaimlerChrysler plans to idle its Windsor, Ontario, minivan plant through January 2 so that additional tooling can be added to make another vehicle at the facility. Chrysler didn't say what vehicle would be produced at the plant in the near future, although officials said that the plant is capable of building a variety of models.

GM ENTERS MARKETING ALLIANCE WITH EBAY General Motors and eBay have entered a marketing alliance. The agreement, good at least through 2001, involves special promotions between eBay Motors and GM. GM hopes to attract more younger buyers, while eBay will benefit from having such a big-name partner. GM will continue to host a series of charity car auctions through eBay.

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