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Fritz Henderson removed as GM CEO

General Motors' board of directors ousted CEO Fritz Henderson after eight months, saying it wanted to chart a new course as the biggest U.S. automaker pushes ahead with its restructuring. Chairman Ed Whitacre, 68, will succeed Henderson on an interim basis while a search for a new president and CEO starts immediately, Whitacre said at a press conference on Tuesday.

GM posts $7.6 billion profit for 2011

General Motors on Thursday posted a $7.6 billion profit for 2011, while recording its smallest quarterly profit of the year in the fourth quarter. Net income for the October-through-December period fell 7 percent from the year-earlier period to $472 million, as a $562 million loss in Europe--the steepest of the year there--weighed on the automaker's bottom line. North American earnings nearly doubled.

Lexus LF-Gh Concept video preview

Lexus LF-Gh Concept - the video Lexus teased us with the LF-Gh Concept ahead of its debut at the New York Motor Show this month, and this week dropped a pile of LF-Gh photos and some outline information on us. And we were a bit dismissive. A bit dismissive because we were expecting/hoping for something more than a concept which points the way to the next generation GS, which is what we’ve actually got.