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Crunch watch Dec 08: the auto industry in crisis
Wed, 31 Dec 2008By Tim Pollard and Simon Stiel Motor Industry 31 December 2008 14:05 Wednesday 31 December 2008• GMAC, GM's finance arm, said it would immediately revise its criteria for providing loans, after the US government bail-out of the General's credit arm. It will now supply credit for anyone with a score of 621 or more on the Fico scale, the scale used to assess Amercian customers' creditworthiness (Financial Times)• The news means that 80% of US consumers would now qualify for a loan from GMAC – which should improve sales in the depressed US market (Detroit News)• Chrysler is being lambasted for taking out full-page adverts in the American national press thanking the nation for supporting its auto industry. But critics point out this is a fresh waste of bail-out resources, as pages in the Wall Street Journal – one of the titles in which the ad ran – reportedly cost up to $264,000.
Eight hot rods compete for Ridler Award in Detroit
Sun, 27 Feb 2011The 59th Annual Autorama has taken over Cobo Center in downtown Detroit with hundreds of hot rods, customs classics cars and motorcycles in what has been billed as America's greatest hot rod show. Judges have selected eight vehicles--dubbed the Great 8--as finalists for the coveted Ridler Award that will be presented Sunday evening at the show's conclusion. The Great 8 are: -- Jim Marciniak from Andover, Minn., with a 1963 Buick.
Just how much do F1 drivers earn?
Fri, 01 Jun 2012Business Book GP has published a list of Formula One drivers’ income for piloting their cars round the world’s F1 Grand Prix circuits. Just how much do the drivers of Formula One cars get for risking their lives (well, that may be a bit of an overstatement in 2012) in pursuit of a victory on the track? It seems anything from €150k to €30 million is the spread.