30th January 2011

Hedgies Don’t Throw In The Towel Yet, Appeal Porsche Decision

Porsche’s legal troubles aren’t over yet. A group of hedge funds appealed the dismissal of their $2 billion lawsuit against Porsche. The lawsuit had been thrown out by U.S. District Judge Harold Baer on December 31 for lack of jurisdiction.

The lawsuit had run afoul of an U.S. Supreme Court decision in Morrison v. National Australia Bank. America’s highest court had decided that U.S. courts are the wrong venue to complain about alleged securities fraud perpetrated in another country.

The plaintiffs had 30 days to make up their minds and filed notices of their appeal at the last minute in Manhattan federal court late on Friday, Reuters reports.

A few days ago, Volkswagen CFO Hans Dieter Poetsch saw a  “high probability that the merger will be completed with Porsche, but we still have to remove some hurdles out of the way.”

He had already factored in the appeal. Asked if he expects the hedge funds to appeal the ruling, Poetsch answered “I think so, yes.”

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30th January 2011

Results season in earnest now




Good results from Hyundai and Fiat for 2010


Good reports from Fiat and Hyundai Motor today.

And optimism for Ford tomorrow. Chrysler on the 31st. Black ink all round for a change? A rating agency thinks so but is cautious about the year ahead.

We’ve grouped most of the 2010 sales and profit reports into one handy home page slot, too.

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30th January 2011

Manufacturing Troubles Remain a Drag on Recovery, Trade & Jobs


via The Seattle Times

by Jon Talton

Top of the News: The Institute for Supply Management’s manufacturing index seems consistent with recovery, coming in at 53.6 for November; any number above 50 signifies expansion in the sector. Unfortunately, the reading sagged from 55.7 the month before, tripping up what economists had hoped would be a steady climb out of recession.

A deeper look shows that the index provides no relief for the biggest immediate problem facing Americans, unemployment. Only six of 18 manufacturing industries reported growth in employment. Only 11.7 million Americans worked manufacturing as of October. That compares with 17.3 million in October 1999.

Not only do manufacturing jobs pay better than their counterparts in service industries, they tend to add real value to economic activity (as opposed to selling mortgage swindles). They are also twined with our trade issues. Even fewer manufacturing jobs are now in industries that export, a key part of our huge manufacturing trade deficit.

Unfortunately, this phenomenon was happening even before the Great Recession. A report from the Economic Policy Institute shows that manufacturing employment between 1965 and 2000 never dipped below 16.5 million. This even as manufacturing shrank as a share of the economy (take out Boeing and it would be much smaller). This changed as imports surged after China joined the WTO and other Asian factory centers upped their game. By 2004, the number was lower than any time since 1950.

“It is often claimed that declines in manufacturing employment stem entirely from productivity growth,” according to EPI economist L. Josh Bivens. “However, rapid productivity growth is the norm, not the exception, in manufacturing. What is new about the manufacturing job crisis of the last four years is the sharp downturn in the ratio of domestic production to demand.”

Indeed, American steelmakers are shrinking yet again.

The Back Story: The official unemployment rate including discouraged workers and part-timers seeking full-time work is 17.5 percent. But Shadow Government Statistics, a provocative and reliable site, argues even this underestimates the problem. Try…22 percent.

Complete Article



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30th January 2011

Whiteline Suspension Products For Subaru in Seattle


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Whiteline Suspension Products For Subaru in Seattle

We have Just become a Whiteline Suspension systems dealer For Washington state.

Be sure to check back on our website in the coming weeks for a page about white line products as well as a shopping cart.

If you are local to us we will be offering for a limited time, discount on installation of Whiteline Suspension products starting in March and ending in April.

In the mean time if you have any questions or already know what you want to order send Ryan an email Ryan@allwheeldriveauto.com

Whiteline Sway Bars

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29th January 2011

Audi Design Chief Targets New Models

Just the Facts:

  • New Audi A2 is on hold until the appropriate platform is found.
  • There’s room in the lineup for a BMW X6 competitor.
  • Sport Quattro concept not confirmed, but “not dead.”


SICILY — The head of Audi Group Design, Wolfgang Egger, has targeted a wave of new models as the company responds to emerging markets and brand proliferation.

Speaking to Inside Line at the launch of the 2012 Audi A6, Egger differentiated between “the continuous family line of the A4, A6 and A8,” and niche models, such as the R8, A7 and E-tron that “sharpen the emotion of the brand.”

Egger admitted that the A2 — a tall, practical but sporty alternative that would sit between the A1 and 3 — had been designed, but that the Volkswagen Group lacked an appropriate platform for the car. Instead, Audi would continue to develop the A1, appealing to premium downsizers and urbanites. The current three-door model, which isn’t sold in the U.S., will be joined by a five-door hatchback, a 180-horsepower S1 and a cabriolet. A Quattro four-wheel-drive version of the car is already scheduled to debut at the 2011 Geneva Auto Show in March.

Moving upmarket, Egger reckoned there was room for a sport crossover rival to the BMW X6. “It has been a big success in China, where it’s become a second car driven by women. There, it’s a female sports car.” According to Egger, the forthcoming Audi Q3 will be a step in this direction, but the automaker could still go further to compete with BMW.

The designer also admitted that the growth of the Chinese market — Audi sold almost 228,000 cars there in 2010 compared with 100,000 in the U.S. — is starting to influence styling decisions. “There is a design trade-off between Europe, China and the U.S. The chrome grille on the A8 was a response to Chinese demands for a car that makes a statement.” However, he ruled out producing subtly different models for different markets. “An Audi is an Audi,” he said.

More niche models are also likely to follow. Egger said the Quattro concept shown for the first time at the 2010 Paris Auto Show last year “wasn’t dead,” nor had it “been confirmed for production. These cars help the A6 because they bring new emotion and character to the brand.” This character will also continue to be carried by the electric cars of the future. “The relationship between a car and a person is very complex,” he concluded. “A car must always have a ‘face’ made up of a grille and lights.”

Inside Line says: Audi’s extraordinary product offensive looks set to continue. — Alistair Weaver, European Correspondent

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29th January 2011

2011 Mercedes-Benz C63 AMG Affalterbach Edition

Source: Mercedes-Benz


Mercedes-Benz Canada is pleased to announce the Canadian premiere of the Mercedes-Benz C63 AMG Affalterbach Edition today at the 2011 Montreal International Auto Show. Exclusive to Canada, and limited to just 30 units, the C63 AMG Affalterbach Edition was designed in the AMG Performance Centre in Affalterbach, Germany and features unique styling cues and an impressive list of special equipment that have never been offered before on a Mercedes-Benz C63 AMG.


The Mercedes-Benz C63 AMG Affalterbach Edition is finished in highly distinctive designo MAGNO Allanite Grey paintwork, and its unique appearance is further distinguished by high-performance AMG brakes with red calipers, 19″ AMG multi-spoke alloy wheels in black, carbon-fibre mirror housings and a rear lip spoiler.


The C63 AMG Affalterbach Edition is powered by the hand-built, 6.2 L V8 engine that offers 481 horsepower and 443 lb-ft of torque, which propels it from 0 to 100km/h in just 4.4 seconds.


The luxurious interior of this limited edition model features the Affalterbach logo prominently displayed on the gearshift lever and embossed on the headrests, and red contrast stitching adorns the black AMG Nappa leather sport seats. The overall design is completed by AMG carbon-fibre trim, floor mats with red leather piping and a special Affalterbach Edition badge which identifies every car with its unique “1 of 30″ designation.


The C63 AMG Affalterbach Edition boasts an extensive list of standard equipment and also features each element from the C63 AMG Premium Package, which includes a rear view camera, PARKTRONIC, COMAND APS with HDD Navigation and DVD Changer, multi-media interface, rear window sunshade, harman/kardon LOGIC7® surround sound system and KEYLESS-GO. In addition, the Affalterbach Edition is equipped with the AMG Performance Package, which adds 30 additional horsepower, removes the speed limiter and adds a limited-slip differential.


Available in spring 2011, the Mercedes-Benz C63 Affalterbach Edition will be priced from $81,500.

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