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GM profits surge to $3.2 billion in first quarter

General Motors on Thursday posted net income of $3.2 billion for the first quarter, its fifth straight quarterly profit since emerging from bankruptcy. Stripping out one-time charges and gains, including $1.6 billion in income from the March sale of GM's ownership in Delphi Automotive, GM earned $2 billion before interest and taxes. GM's net income for the January-through-March period a year earlier was $865 million.

New York City Taxi of Tomorrow plans hit a roadblock

New York City administration's plan to replace current taxi cabs with the specially developed Nissan Taxi of Tomorrow has been stymied by a recent legal decision, the Wall Street Journal is reporting. The New York State Supreme Court in Manhattan (it's a bit confusing, but this is actually the on the level of the lowest state courts in New York state's court system) has issued a decision which determined the project to be an overreach of executive authority, siding with taxi magnate Evgeny Freidman and the Greater New York Taxi Association. The court stated that city's Taxi and Limousine Commission lacked the authority to compel cab companies to purchase the any particular vehicle -- in this case, the Nissan NV200 Taxi, which was slated to hit streets just a couple weeks from now on Oct.

Ford eases V6 Mustang around Bristol track for 1,457 laps

As you may have expected, the team at Ford was able to run a V6-powered 2011 Mustang for at least 1,000 laps on the half-mile Bristol Motor Speedway track on Wednesday before running out of gasoline. In fact, the Mustang lapped Bristol 1,457 times before its 16-gallon fuel tank ran dry. The run was part of a marketing push touting the 31-mpg highway rating for the 2011 Mustang V6 and its six-speed automatic transmission.