U.S. Aiming to Ensure the 'Next Big Thing' Originates Here
from U.S. Secretary of Commerce Gary Locke via Reliable Plant
America's economic problems are complex and they defy easy explanation. For years to come, we can argue about the precise role that over-aggressive lenders, over-leveraged homeowners and poor government regulation played in causing this historic recession. Or, we could spend our time more productively by rediscovering the traits that have long made America's economy the envy of the world.
U.S. Auto Market Downturn Slows in July: Report
U.S. retail auto sales are expected to decline 19 percent in July from a year ago, marking an improvement over declines of more than 30 percent in the first half of 2009, an influential industry tracking service said.
China Steel Protest Flares
from The Wall Street Journal
A Hong Kong-based human-rights group said thousands of steel workers in China's industrial northeast staged an at-times violent protest against a planned takeover of their state-controlled employer and a group of them killed a top executive at the private company that was to acquire it.
Boeing: Indian Market Recovering
from Aviation Week
India's aviation market has started to turn the corner and will come out of the recession faster than the rest of the world, Boeing said at the presentation of its 20-year India Market Outlook Wednesday in New Delhi. Forecasting sales of one aircraft fewer than the 1,001 units announced last year, now worth $100 billion, Dinesh Keskar, senior VP-sales and president-aircraft trading, Boeing Commercial Airplanes, said Boeing 747 and larger aircraft do not have a role to play in India because the market is fragmenting at a fast pace.
Obama Auto Advisor Tells Lawmakers Not to Undo Dealer Closings
from The New York Times
The leader of President Obama's automotive task force warned members of Congress on Tuesday that reversing or stopping the closing of thousands of General Motors and Chrysler dealerships could threaten the automakers’ turnarounds and keep them from repaying billions in government loans.
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Why Not Make Turbines at Wind Farms?
from The New York Times Green Inc. Blog
Since wind turbines are so difficult to transport, why not manufacture them on site - at a wind farm? Clipper Windpower, a wind developer and manufacturer, is considering doing exactly that at a site in South Dakota. The company hopes to build a 5,000 megawatt wind farm (even bigger than the "world’s largest wind farm" that T. Boone Pickens once planned) in an area southeast of Pierre, the state capital. The farm alone would require 2,000 turbines - enough perhaps to justify, say, its own tower factory.
Senator Wants Inspector General to Review Auto Dealer Closings
from The Detroit News
The chairman of the Senate Commerce Committee asked the special inspector general of the $700 billion Troubled Assets Relief Program on Friday to review the methodology of General Motors Co. and Chrysler Group LLC's decisions to terminate more than 2,000 dealership franchises. Sen. Jay Rockefeller, D-W.Va., in a letter to Neil Barofsky, the TARP inspector general, urged him to review closings.
For GM, Big Dreams Depend on Small Cars
from The Detroit Free Press
Can General Motors Co. build a first-rate small car in America and make money selling it? Forty years of history says no, but the automaker's fate -- and thousands of jobs at plants in Michigan and Ohio -- rests on its ability to end a litany of failures dating to the 1971 Chevrolet Vega. GM sold 2.8 million compact and smaller cars around the world in 2008. From China to Europe to Brazil, GM's Chevrolet and Opel small cars match the best from Honda, Toyota and Volkswagen.