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the Detroit Free Press Share     GM Chairman Ed Whitacre became chief executive officer and sent a clear message: More changes are ahead for the automaker that already has been through a historic government-backed bankruptcy this year. The move came after GM said that Fritz Henderson, named CEO in late March when the Obama administration ousted Rick Wagoner, resigned Tuesday. More
Navistar to build all-electric class 2 and 3 trucks Transport Topics Share
Navistar International Corp. said that one of its affiliates will create a joint venture with U.K.-based Modec Ltd. to build Class 2 and 3 all-electric commercial trucks in the United States for sale to North, Central and South American markets. Navistar-Modec EV Alliance LLC will produce the trucks, designed for urban applications involving heavy stop-and-go driving, Navistar said. More New jobless claims fall unexpectedly to 457K Yahoo! News Share
The tally of newly laid-off workers seeking unemployment benefits fell unexpectedly for the fifth straight week, a hopeful sign that the job market is slowly improving. Still, claims remain above the levels that most analysts say would be consistent with an economy that is adding jobs. The unemployment rate is at 10.2 percent and expected to keep climbing into next year. More Economy, transport activity show modest increases, Fed says Transport Topics Share
The U.S. economy improved modestly from October through mid-November as consumer spending rose in most areas and transportation activity showed some signs of improvement, the Federal Reserve said. More Detroit needs housing rebound to spur pickup sales The Associated Press Share
At Kevin Haner's construction company in Las Vegas, three of the four Dodge Ram pickup trucks are starting to get a little old. He may replace one if he gets a great deal, but he'll keep running the others until he's convinced that the housing slump has ended. Haner's reluctance to spend is typical of contractors nationwide. This presents a huge problem for the Detroit automakers because truck sales are directly tied to new home construction. Pickup sales are on pace for their worst performance in 17 years, and GM, Chrysler and Ford still sell 91 percent of all full-size pickups in the U.S. More October construction spending unchanged, Commerce says Transport Topics Share
U.S. construction spending was unchanged in October following five straight declines, the Commerce Department said. September's construction spending, which was originally reported as a 0.8 percent increase, fell 1.6 percent, Commerce said in a revision. More Flat November auto sales show spending still tight The Detroit News Share
U.S. automobile sales were flat in November, a sign of continuing consumer caution despite signs of improvement in the overall economy. Overall industry sales totaled 746,928 cars and trucks, compared to 746,789 a year ago. That was a wash, though there were two more selling days in November 2008. As a result, the annualized selling rate—which measures what sales would be if they continued on the same pace for 12 months—increased to 10.93 million vehicles in November from 10.41 million last year. More |
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