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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

Autodesk Automotive Days - Munich 2009

Autodesk's Automotive Days design conferences, launched in Munich in 2008, have highlighted the key growth area of digital prototyping. And at last month's conference the focus was once again broadened to include coverage of conceptual design and creative visualization (at the very beginning of the design process) and design for manufacture - at the culmination of the process. Speakers from Autodesk outlined the innovative features of their latest product suites, while keynote presentations from leading automotive designers such as Frank Stephenson of McLaren and Volvo's Rickard Franklin showed in fascinating detail how the benefits of these software systems were being maximized in busy corporate design studios.

Henrik Fisker leaves his eponymous company

Henrik Fisker, co-founder of Fisker Automotive, has resigned from the company as Fisker seeks funding to move forward. But Henrik Fisker managed to convince the car world his Fisker Karma was credible, even if its gestation has been plagued by problems,  the latest of which has been the demise of its battery supplier – A123 Systems – and the wrecking of a dock full of seemingly uninsured Karmas by Hurricane Sandy. The current problems at Fisker has seen them seeking a new investor, with two Chinese companies – Geely and Dohnfeng – vying to take a majority stake in Fisker Automotive and help Fisker recover sales of the Karma and move on with Project Nina, the smaller Fisker Atlantic.