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General Motors board recommends selling Opel to Magna-led group
Thu, 10 Sep 2009General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.
Autoweek in review: Ferrari teases supercar, Mini flips out and the 2013 Porsche Panamera GTS
Fri, 22 Feb 2013While many of us spent Monday honoring our favorite presidents (still Taft, Van Buren and R.B. Hayes), Ferrari teased us with shots of its Enzo successor and gave us some pricing details. By now you should have saved at least 20 bucks toward that $1.3 million.
Two top Ford execs to retire
Thu, 09 Feb 2012Two top Ford Motor Co. executives, CFO Lewis Booth and global product development chief Derrick Kuzak-- both key architects of the automaker's recovery--will retire on April 1, the automaker said Thursday. Booth, 63, will be succeeded by Bob Shanks, Ford's vice president and controller.