SoCalCTS

The numbers don't lie so one of your figures is incorrect. Perhaps the fuel tank is smaller or the range is greater.

Bloomberg news story GM Claims 100 Miles-a-Gallon Volt `Bragging Rights' (Update3) By Jeff Green Sept. 26 (Bloomberg) -- General Motors Corp. said it reached a preliminary agreement that clears the way for U.S. regulators to certify the Chevrolet Volt, an electric vehicle that can be recharged at home or with a 1.4-liter gasoline engine, as the first 100 mile-per-gallon car. The country's biggest automaker, whose sales of pickup trucks and sport-utility vehicles collapsed this year as gasoline topped $4 a gallon, is cutting the mileage deal while urging Congress to approve $25 billion in government loans to help the industry meet new federal fuel-economy standards. Earning a 100 mpg certification would give Detroit-based GM the holy grail auto companies began seeking following the oil shocks of the 1970s. The Environmental Protection Agency agreed to a testing method that will produce a rating at least that high, said Tony Posawatz, 48, vehicle-line director for the Volt in Warren, Michigan. The four-passenger car, which goes on sale in November 2010, will be able to travel 40 miles (64 kilometers) before the internal-combustion engine needs to recharge the battery. ``It's a huge milestone to beat 100 mpg. It's bragging rights,'' said Rebecca Lindland, an analyst at Global Insight Inc. in Lexington, Massachusetts. ``To many people, GM is just about gas-guzzling SUVs. They never get credit for fuel economy. If Toyota were doing the Volt, they would be having parades and waving flags.'' While the Volt is classified as an electric car, GM will still be able to claim it's the most fuel-efficient vehicle on the road because the gasoline-powered generator will start after the sedan exceeds the battery's 40-mile range. `Final Policy' The EPA won't confirm how it gauges fuel economy of plug-in models until testing methodology is complete, spokeswoman Catherine C. Milbourn said in a statement. The agency ``hopes to have a final policy soon,'' she said. The government- and industry-backed Partnership for a New Generation of Vehicles tried to create an 80-mpg auto in the 1990s. The group disbanded in 2001 after failing to develop one. The Progressive Automotive X Prize is offering $10 million to the first team to produce a 100-mpg vehicle that passes its tests and can be commercially produced. Toyota Motor Corp.'s hybrid Prius is the highest-rated car on the road today, achieving 48 mpg in the city and 45 mpg on the highway. It has a 1.5-liter gasoline engine, isn't rechargeable at an electric outlet and can drive only 2 miles on its battery, according to the company, which leads global sales in the category. $25 Billion More As with all automakers selling in the U.S., GM must increase the average mileage of the fleet as much as 40 percent to 35 mpg by 2020 to comply with new federal standards. The House agreed to fund $25 billion in low-interest loans Sept. 24 to help offset investment by GM, Ford Motor Co. and Chrysler LLC in fuel-saving technologies. The Senate may vote on the plan this week. U.S. auto companies estimate they'll need $80 billion to $100 billion to meet the new fuel-economy mandate. Members of Michigan's congressional delegation said this week they'll seek an additional $25 billion in credit. The Volt may sell for more than $30,000, according to GM Vice Chairman Robert Lutz, 76. The sedan is the centerpiece of a drive by Chief Executive Officer Rick Wagoner, 55, to narrow the technology gap with competitors including Toyota. GM lost $18.7 billion in the first half as sales of pickups, SUVs and vans dropped 16 percent. The shares, which declined 60 percent in 2008 through yesterday, fell 27 cents to $9.76 at 4:15 p.m. in New York Stock Exchange composite trading. Difficult Measurement Obtaining a 100-mpg rating will require the EPA to develop a new way of measuring fuel efficiency for a car that's likely to rely more heavily on electric than internal-combustion power, according to GM's Posawatz. The automaker promised to share mileage data captured from the Volt's onboard computers to verify real-world performance if EPA will grant the certification now, he said. ``It's a new process. No one has done a vehicle like this before,'' said Posawatz. ``We would like to have 80 percent of the people get better than the label.'' A vehicle of the Volt's design should be able to exceed 100 mpg in tests, said Michael Duoba, a research engineer at Argonne National Laboratory in Argonne, Illinois, and chairman of the Society of Automotive Engineers committee trying to develop fuel-economy tests for plug-in cars. Argonne is testing models that use similar technology to make its assessment. Depending on assumptions about how much gasoline is consumed after the battery needs recharging on the road, Volt could get 120 mpg to 200 mpg, he said. Modified Prius models, with an electric range of about 10 miles, may have difficulty beating 100 mpg in the same tests, he said. Toyota Plug-In Toyota City, Japan-based Toyota may launch a plug-in model for 2010 with an all-electric range of at least 10 miles, spokesman John Hanson said. Closely held Chrysler plans its own plug-in electric car for 2010, to be developed in part with General Electric Co. ``It's too early to say what the overall miles-per-gallon figure is going to be'' on the plug-in Prius, Hanson said. Honda Motor Co.'s FCX Clarity fuel-cell car, leased since July to celebrities in Los Angeles including actress Jamie Lee Curtis, is rated at 72 mpg via a formula that converts hydrogen fuel into the equivalent of gasoline efficiency ratings. Honda, based in Tokyo, hasn't announced full-scale production for the model. Chevy's Volt can be plugged into a standard 120-volt outlet and be charged in about eight hours, GM said. The process takes less than three hours with a 240-volt outlet. The cost for a full charge providing 40 miles of driving is about 80 cents per day, at an electricity cost of 10 cents per kilowatt hour, according to GM. Charging the Volt about once daily will consume less electricity annually than the average home's refrigerator and freezer, the company said.

US NEWS story A $25 Billion Lifeline for GM, Ford, and Chrysler September 24, 2008 05:45 PM ET | Rick Newman | Permanent Link In Washington these days, an 11-figure expenditure barely attracts notice. With Congress preoccupied with the massive, $700 billion bailout plan for the financial industry, General Motors, Ford, and Chrysler have finally secured Part One of their own federal rescue plan. A bill set to be passed by Congress and signed by President Bush as early as this weekend—separate from the controversial Wall Street bailout plan—includes $25 billion in loans for the beleaguered Detroit automakers and several of their suppliers. "It seemed like a lot when we first started pushing this," says Democratic Sen. Debbie Stabenow of Michigan, one of the bill's sponsors. "Suddenly, it seems so small." But please don't call it a "bailout"—Detroit is too proud for that. Exact details will come later, but the loans would probably amount to at least $5 billion for each of the Detroit 3, plus smaller amounts for suppliers. That would allow them to borrow money at interest rates as low as 4 percent—a steep discount compared with the double-digit rates they're paying now. Over several years, the automakers could save hundreds of millions in financing costs. Plus, they'll have five years before they have to start repaying the loans. It might seem like a stealth rescue, but the plan has been in the works for at least 18 months. Approval for the loans was first included in last year's Energy Independence Act. Earlier this year, the automakers sought a first installment of loans totaling about $6 billion. But the nationwide credit crunch severely crimped their ability to borrow, and besides, next to bailouts like $200 billion for Fannie Mae and Freddie Mac, a mere $6 billion started to seem unduly modest. So Detroit raised the ante to $25 billion, the most allowed under current law. Some details of the program: It's much bigger than the Chrysler bailout of 1980. Back then, the government gave Chrysler a $1.5 billion loan guarantee to stave off a bankruptcy filing. That's equivalent to about $4 billion today—less than the amount each of the Detroit 3 is likely to get this time around. There are few strings attached. The 1980 plan also included a long list of rules Chrysler had to abide by in order to get the money (including, get this, "an energy savings plan focusing on the national need to lessen U.S. dependence on petroleum"). The current legislation requires only that the money be used to retool old assembly lines and develop advanced, fuel-efficient technology. Since the automakers are already spending billions to do that, they could easily shift money around and use the low-interest funds to effectively support almost any project. It props up a private company. In 1980, Chrysler was a public company, just as GM and Ford are today. But last year a private equity firm, Cerberus Capital Management, bought Chrysler, taking the firm private. And there's little or no precedent for the government aiding a private company that has no stockholders among the public. "I'd draw a line between public and private," says Kathryn Rudie Harrigan, a strategy professor at Columbia Business School. "I understand there are a lot of jobs at stake, but the taxpayer can only carry so much." Detroit desperately needs the help. Many analysts expect all three domestic car companies to face a life-threatening crisis if the U.S. car market, down about 20 percent so far this year, stays in the doldrums. GM and Ford could start to run out of cash by the second half of 2009, a precursor to declaring bankruptcy. Chrysler's finances are now private, but its sales are down even more than at Ford and GM, and it may be starting to bleed its corporate parent, Cerberus. The idea behind the loans is to buy time while the Detroit 3 revamp their lineups, develop new hybrids and other fuel-sippers, and convert old SUV plants into factories turning out hot cars able to compete with those from Toyota and Honda. "I think they're on the verge of really turning the page," says Stabenow. But Detroit has fallen mightily. Consumers reeling from $4 gas have fled the big trucks and SUVs that the manufacturers milked for two decades, and Detroit's smaller cars tend to rate poorly compared with competitors. The domestics' U.S. market share is now about 48 percent, a staggering fall of nearly 20 points since the start of the decade. Fitch Ratings expects GM and Ford to produce about 1.3 million fewer cars this year than in 2007. Even cheap loans will do little to help erase years of red ink. "Even if they had positive cash flow," says Mark Oline of Fitch, "it's going to take some time to make a dent in their debt load." There's more aid coming. This year's $25 billion is just a down payment. The automakers now plan to ask the government for another $25 billion in loans next year. It's just spare change, after all.

Is this the car that they are building with General Electric?

Financial Times story Daimler set to sell Chrysler stake to Cerberus By Daniel Schäfer and John Reed Published: September 24 2008 23:00 | Last updated: September 24 2008 23:00 Daimler is preparing to sell its remaining minority stake in ailing US carmaker Chrysler to private equity group Cerberus, in a move that would mark the final act of a 10-year-long combination. The German premium car group on Wednesday confirmed it was in talks with Cerberus, which bought the majority of Chrysler more than a year ago, about a sale of Daimler’s 19.9 per cent stake in the US company. Daimler declined to comment on further details and did not give any explanation about the reasons for a possible sale. Cerberus said it approached Daimler about a deal, but said any sale would not affect co-operation between Chrysler and the German group. The news of the talks came as a surprise as Daimler had hinted it would hold on to the Chrysler stake. Explaining the decision to keep a stake in the company when Daimler sold it in May 2007 Dieter Zetsche, chief executive, said: “We basically have all the upside benefits without any risks.” At the time, however, bankers said that Daimler’s continued presence in Chrysler – and the technological and other synergies it entailed – was essential to close the $7.4bn deal at a face-saving price. Since the sale, Chrysler’s fortunes – along with those of General Motors and Ford Motors – have taken a sharp turn for the worse with a collapse in US car sales and consumers’ shift away from the minivans and trucks that dominate its product portfolio. Chrysler’s sales were down by more than a third year-on-year in August. Chrysler has cut thousands of jobs and closed plants to match its shrinking market. Daimler took charges of €187m ($274m) on its earnings in the first half related to restructuring at Chrysler, and another €168m related to reduced residual values of Chrysler vehicles. The Chrysler stake has been viewed as a drag on Daimler’s share price, which has fallen considerably in recent months, sparking rumours about a possible hostile takeover of the company. Analysts also said a sale could be good news for Chrysler as management could now run the company without having to secure the approval of its minority shareholders in Stuttgart. “This gives Cerberus more flexibility with respect to how they want to run Chrysler going forward,” said Michael Robinet, vice-president for global vehicle forecasts with CSM Worldwide in Detroit. Daimler will still retain some interests in Chrysler after a sale as both are still co-operating in some areas. Also, Daimler granted Chrysler a €1.5bn credit after the sale to Cerberus.

If I saw McCain on the street, I would probably stop and ask him if he was lost or needed help crossing the street. He looks so incapable of doing anything.

well at most you only got to vote for 2 senators and 1 congressman so likely, you disapprove of the others.

Did you see the meet and greet Palin did with the world leaders? Her response to their comments about her attractiveness was giggling. I would hope that someone who is potentially, just moments away from being a world leader could find a way to take control of a conversation and refocus on more meaningful topics.

Lance and Reichen have split up. Gosh... you guys are soo far behind on your gay gossip!

I thought the news was the Orlando will not be built here. They will probably rename/rebadge it and build it here as something else.

It's cheesy, it's tacky, it looks dumb... it's the perfect Pontiac! The people who buy Pontiacs will squeal in delight!

Sprint - Samsung Instinct - $65 unlimited everything plan. Sprint has great coverage in my area and the wireless web is lightning fast. The Live Search with full GPS navigation is the best feature ever on a cell phone.

Wrong about everything on this list. (Well I don't know about the GE motor or Foxconn). I mean seriously, GE microwaves?? What did they ever do to you? The RAZR is one of the best selling phones ever and Betamax was superior to VHS. I think some worse products are: Alli - the loose bowel diet pill Sony - minidisc microwave pork rinds RCA - videodisc (not the laserdisc) wiki

Rigged and fake.

The only dictator we have ever had is George W. Bush. BTW, FDR did not pack the supreme court but I will take a packed court over the Patriot Act any day! Look how poorly Republicans handle war... we are about to lose in Iraq for the second time

Very nice! I would love to see this driving down the streets.

I wonder if you could leave the body panels unpainted so you could "see through" the car.

I just mean that Buick shouldn't aspire to be Lexus. It would do better to focus on a car company with a full line of appealing cars like Nissan. An altima type car would be just the ticket for Buick.

what no hood scoop?!?!? Isn't this a Pontiac?

The outside is blah and boring. The inside is inspired. I love the interior.

Engrained as in: Pontiacs are tacky and Buicks are for old people. With that said, both of those brands need to come up with the unexpected. They need to throw away their GM niche. Pontiac needs to realize that it is not a performance brand and Buick isn't luxurious. Pontiac is more like Scion and Buick should be more like Nissan.

FDR of course!

$3.53 in the San Diego area. Seems to be moving downward. We were around $3.60 last week. Finally, something happens somewhere and California isn't the place that has to pay. I guess they've gotten all the blood they can from this turnip.

It's extremely unlikely that Citigroup or Bank of America would fail. WaMu is going to fail or will need to merge with someone. As for Wachovia, does North Carolina really need two banks??

What pisses me off is that John McCain is a dirty Panamanian and they are letting him run for office.