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Archive for the ‘Business’ Category

Carlos Ghosn, Renault-Nissan Savior, Could Bring Their Alliance Tumbling Down

Under arrest in Japan, 64-year-old exec likely to lose his many titles, too.

by on Nov.20, 2018

Carlos Ghosn remains Renault CEO — for now. Company officials appear to allowing the legal process to play out.

It took Carlos Ghosn two decades to transform three independent automakers into one of the world’s best-selling automotive alliances, but with the 64-year-old executive now sitting a Japanese jail, accused of a variety of financial misdeeds, that empire could come crashing down.

On Monday, Nissan broke its silence after completing a months-long investigation it said was “based on a whistleblower report.” Ghosn and another senior executive were arrested as they arrived in Japan from alliance partner Renault’s headquarters in France. The Brazilian-born Ghosn was accused of under-reporting his corporate income by as much as $45 million, while also misappropriating corporate funds.

Global News!

“I feel strong anger and disappointment,” Ghosn’s handpicked successor as Nissan CEO Hiroto Saikawa told reporters at Nissan headquarters in Yokohama. “I am very sorry.” (more…)

GM Looking at White Collar Layoffs Due to Low Buyout Acceptance

Company falling well short of hoped-for 7,000 early retirements.

by on Nov.20, 2018

General Motors is offering buyouts to thousands of employees as it seeks to streamline its North American operations.

We can do this the easy way or we can do this the hard way — so what’s going to be?

That was the question essentially posed to thousands of General Motors Co. white collar employees by the company’s management, looking for at least 7,000 to accept an early retirement buyout. The automaker is looking to trim salaried workers as a proactive cost cutting measure.

Business News!

Those selected to participate in the plan have until noon Monday to decide; however, early reports suggest the company is going to get a little over half of its target, which means that GM likely will be laying off people in the near future to get that number. (more…)

FedEx to Add 1,000 Chinese EV Vans to Delivery Fleet

Delivery service hopes to reduce costs, as well as emissions.

by on Nov.20, 2018

FedEx plans to add 1,000 of the Chanje vans to its U.S. delivery fleet.

FedEx Corp. is plugging into battery power, the delivery service announcing today it will add 1,000 Chinese-made vans to its fleet as part of a commitment to reduce both energy consumption and vehicle emissions.

It joins a growing list of delivery services, including UPS and Deutsche Post, that are testing out the capabilities of fully electric trucks for use on both short and long-haul routes.

Green News!

“FedEx continually seeks new ways to maximize operational efficiency, minimize impacts and find innovative solutions through the company’s Reduce, Replace, Revolutionize approach to sustainability,” said Mitch Jackson, FedEx Chief Sustainability Officer. “Our investment in these vehicles is part of our commitment to that approach of serving our customers and connecting the world responsibly and resourcefully.”

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First Drive: 2019 Chevrolet Silverado 2.7L

Can a small engine really power a big truck?

by on Nov.19, 2018

The 2019 Chevrolet Silverado features a new 2.7-liter turbo four with cylinder deactivation.

It takes a big engine to make a big truck owner happy — or so went the conventional wisdom among full-size pickup manufacturers until recently.

That strategy has been changing rapidly, in large part reflecting the arrival of some surprisingly peppy, albeit downsized, turbocharged powertrain packages, such as those from Ford’s EcoBoost family. More than half of all F-150s now go out the showroom door with a six under the hood. Now, we’re beginning to see not only competitive V-6 options, but even four-cylinder alternatives, such as the new 2.7-liter Chevrolet is unleashing with the arrival of the 2019 Silverado.

Reviews to Trust!

An engine of that size, with or without a turbocharged kick, might have seemed entirely unlikely just a few years ago, but a day of driving the Silverado 2.7L through the desert badlands outside Phoenix last week proved that big things really can come in small packages. (more…)

New NAFTA Faces Tough Road to Approval in Congress

Dems want tougher rules on Mexico, Reps want LGBT protections out.

by on Nov.19, 2018

President Donald Trump's success to NAFTA is facing serious trouble with Democrats and Republicans and may not get passed in its current form.

The new trade agreement with Canada and Mexico that President Donald Trump hailed as a major breakthrough back in August appears headed for serious trouble.

Forty Congressional Republicans have stated they will not vote for the agreement because it includes protections for the LGBT community, according to Politico. The protection for the LGBT community was included in the proposed tentative NAFTA 2.0 at the insistence of negotiators from Canada.

News You Can Trust!

The Republicans are the majority party in the U.S. House of Representatives, but campaign means the LGBT section means that the Trump administration cannot pass NAFTA 2.0 without Democratic votes. (more…)

Carlos Ghosn Fired by Nissan, Reportedly Arrested for Misconduct

Investigation triggered by whistleblower, automaker confirms.

by on Nov.19, 2018

Nissan Chairman Carlos Ghosn was arrested Japan as part of an investigation about falsifying income and misusing company assets.

One of the most visible faces of the global auto industry has been fired and reportedly arrested, Nissan Chairman Carlos Ghosn accused of financial misconduct.

Once so popular after helping save the then-struggling automaker, Ghosn inspired a widely read Japanese comic book. But on Monday, Tokyo media reported, he was brought in before Japanese prosecutors who are questioning the executive about claims he both falsified income statements and misused company assets. A second senior executive is also facing allegations of corruption.

Global News!

“Based on a whistleblower report, Nissan Motor Co., Ltd. (Nissan) has been conducting an internal investigation over the past several months regarding misconduct involving the company’s Representative Director and Chairman Carlos Ghosn and Representative Director Greg Kelly,” the automaker said in a statement. (more…)

Tesla Promises Model 3 Delivery by Dec. 31 to Meet Tax Deadline

Order by end of month, get by end of year, Musk tweets.

by on Nov.16, 2018

Tesla CEO Elon Musk tweeted that the company would deliver any Model 3 ordered by the end of November by Dec. 31.

Tesla CEO Elon Musk claims that Model 3s ordered in the U.S. by the end of November will be delivered by Dec. 31 — a delivery rate that is much faster than for earlier Model 3 sedans.

The edict, issued by Musk via Twitter, is designed to push sales to get them completed in time to take advantage of tax breaks for buyers. The move comes as Tesla and General Motors are lobbying government officials to extend tax incentives for EV buyers.

Business News!

“Tesla just acquired trucking capacity to ensure Model 3 can be delivered in U.S. by Dec 31 if ordered by Nov 30,” Musk tweeted on Thursday. He late clarified how they’re going to get this done. (more…)

Advanced Driving Systems Can Be Misleading and Don’t Always Work as Promised

Autopilot, ProPilot, Pilot Assist, names can confuse motorists expecting full autonomy.

by on Nov.16, 2018

This Model X crash reveals the short comings of Autopilot and, potentially, other similarly named advanced driver assistance systems.

Soon after Tesla first introduced its Autopilot system in October 2014, videos began popping up on YouTube showing owners doing things like jumping into the back seat while their cars cruised down the highway. Even Tesla CEO Elon Musk was shown in his Model S sedan, hands out of the window, rather than on the steering wheel.

After a couple high-visibility crashes, Tesla now takes pain to make sure its owners know Autopilot isn’t a fully autonomous system – at least not yet. But not everyone seems to be getting the message. And it’s not just Tesla. With Nissan adding ProPilot Assist to some new models and Volvo opting for Pilot Assist.

Product News Now!

The new car market is experiencing a flood of new advanced driver assistance systems, or ADAS, that claim to help drivers stay in their lanes, brake automatically, and even change lanes by simply tapping the turn signal. But testing by AAA finds that many of these systems don’t work as promised – at least all the time. And, worse, the names manufacturers have chosen may lead to a false sense of security, some motorists believing these systems can but drive all but fully autonomously. (more…)

In an SUV Market, Toyota Intent on Boosting Demand for All-New 2020 Corolla

Compact sedan gets new look, broad range of new, standard features.

by on Nov.16, 2018

Brand boss Jack Hollis introduced the 12th-generation, 2020 Toyota Corolla.

It may be an SUV-crazed market, but Toyota is not going to cede ground in the compact sedan market without a fight, or so brand boss Jack Hollis declared during the unveiling of the all-new, 2020 Corolla Thursday night.

It’s no surprise that Toyota is intent on proving its prowess with the new sedan. Over the past half century, Corolla has been one of the cars instrumental in building the Japanese automaker’s reputation for quality, reliability and durability. But with other manufacturers, like Korea’s Hyundai and Kia, breathing down its neck, Toyota will have to show it can deliver more than the classic, plain vanilla design, Corolla has also long been known for.

Product News!

It hinted at a more expressive direction earlier this year with the launch of a new, and decidedly more sporty , Corolla Hatchback. Now, the mainstay sedan gets a complete makeover. And it is not only more stylish, but boasts more power and lots more features, including the latest version of the Toyota Safety Sense package which now will be standard on all Corolla grades. Key competitors, such as Honda, have chosen not to package these advanced driver assistance systems on many of their base models.

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All-New Honda Passport Set for LA Debut

Old name for a new truck.

by on Nov.15, 2018

Honda says the new Passport will make its debut at the Los Angeles International a

It may not mean much to Millennials, but older motorists may get a sense of déjà vu when Honda lifts the covers on the all-new Passport SUV at the upcoming Los Angeles Auto Show.

Set to slot in between the Japanese automaker’s CR-V and Pilot models, what appears to be a three-row crossover borrows the name of what was Honda’s first-ever utility vehicle, a five-door that was actually produced by erstwhile rival Isuzu and sold in the U.S. under the Honda badge between 1993 and 2002.

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Brand News!

The new Honda Passport was designed and engineered – and will be assembled – entirely in-house, and will become the fourth model in the brand’s CUV line-up, lining up in Honda dealerships next year alongside the entry-level HR-V, as well as the CR-V and Pilot.

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