Elliott International LP and a unit of Fortress Investment Group LLC are among hedge funds that failed to reach an agreement with the trust liquidating General Motors’ old assets over $3 billion in claims related to the automaker’s 2009 bankruptcy filing, according to court papers. The dispute stems from a settlement made between the hedge […]
President Barack Obama has “serious concern” about Japan’s auto trade policy, a senior administration official said Tuesday. Acting U.S. Trade Representative Demetrios Marantis told the Senate Finance Committee that the administration wants to see Japan make more progress on auto issues. Last week, Japan asked to join the Trans-Pacific Partnership free trade talks, a group of 11 […]
Hourly workers at Ford Motor Co.’s plant in Genk, Belgium, will get $750 million in severance as part of a deal that allows the automaker to close that factory by the end of 2014, the company said on Tuesday. Ford and the 4,000 hourly workers at the plant reached a deal last week that allows […]
Subaru will unveil a hybrid version of its Subaru XV Crosstrek small crossover at next week’s New York auto show. The car will be the brand’s first gasoline-electric vehicle and employ technology based on Toyota Motor Corp.’s hybrid system. Subaru did not say when the car hits showrooms, but the company has promised first deliveries […]
U.S. Sen. Chuck Shumer (D-N.Y.) announced Monday that entry-level CDL holders will be required to be trained to operate global positioning systems, a stipulation that will be included in the upcoming entry-level CDL operator rule that will be released by the Federal Motor Carrier Safety Administration in the coming months.
The National Truck Driving Championships is a competition of professional truck drivers hosted each year by American Trucking Associations. This competition has a long history – dating back to 1937 when it was known as the National Truck Roadeo. The NTDC competitors are made up of the winners in eight classes of competition from 50 […]
The American Trucking Associations’ case against the Federal Motor Carrier Safety Administration’s hours-of-service rules set to take effect in July saw action Friday as a three-judge court of appeals in Washington, D.C., heard oral arguments from both sides.
The biggest car dealership groups swallowed a bigger share of U.S. auto sales last year. New-vehicle retail sales for the top 125 dealership groups grew a collective 19 percent in 2012, while the whole U.S. market rose 13 percent. Tallying just the 113 dealership groups that were on the list for both 2012 and 2011, […]
Many automakers used to view Hispanic-oriented marketing as a way to drum up extra sales when their marketing budgets allowed. Often their efforts amounted to little more than dubbing Spanish over actors speaking English in TV commercials. Today, they know not to overlook or underestimate what has become America’s fastest growing minority group, a demographic […]
