CSpec

What time?

Those were pretty hard to come by even in 2003-2004.. I have no idea where you could find them today. The STS was a black and white scan. C&G actually ran an exclusive image of the pre-Lutz G6, but that was many years and servers ago. It looked very similar to the REV concept.

I'm not sure if you've seen the pictures of those two before Lutz arrived, but they were pretty ghastly. The G6 looked like an Aztek sedan and the STS was pretty weird. He delayed the STS and Lacrosse a full year, and I'm pretty sure there was a similar delay of the G6 for emergency redesigns. Obviously the results were not that great given their time constraints, but they were sure better than the designs they were gonna use before he got there.

New GM Launches Today Company Emerges from Bankruptcy Full Coverage in our Forums

The New General Motors Company Launches Today GM gets back to the business of building great cars and trucks, serving customer needs New company created from GM's strongest assets Four core brands backed by the nation's largest and strongest dealer network Streamlined organization on a global basis for faster decisions, sharper focus on the customer Commitment to open communications DETROIT - The new General Motors Company began operations today with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does. "Today marks a new beginning for General Motors, one that will allow every employee, including me, to get back to the business of designing, building and selling great cars and trucks and serving the needs of our customers," said Fritz Henderson, president and CEO. "We are deeply appreciative for the support we have received during this historic transformation, and we will work hard to repay this trust by building a successful new General Motors." Created from the old GM's strongest operations in an asset sale approved by the bankruptcy court on July 5, the new GM is built on: Four core brands in the U.S. and the largest, strongest dealer network in the country, A fresh lineup of Chevrolet, Cadillac, Buick and GMC cars, trucks and crossovers, each with leading-edge designs and technologies that matter to both consumers and the environment, A competitive cost structure, a cleaner balance sheet, and a stronger liquidity position that will enable GM to invest in new products, key technologies, and its future, A winning culture focused on customers and products. "One thing we have learned from the last 100 days is that GM can move quickly and decisively," said Henderson. "Today, we take the intensity, decisiveness and speed of the past several months and transfer it from the triage of the bankruptcy process to the creation and operation of a new General Motors. "Business as usual is over at GM," said Henderson. "Today starts a new era for General Motors and everyone associated with the company. Going forward, the new General Motors is fully committed to listening to customers, responding to consumer and market trends, and empowering the people closest to the customer to make the decisions. Our goal is to build more of the cars, trucks, and crossovers that customers want, and to get them to market faster than ever before." Committed to great cars and trucks The new General Motors launches with a clear and simple vision - to design, build and sell the best vehicles in the world. "A successful auto company needs to focus on both the cost and the revenue sides of the business," said Henderson. "Success on the revenue side means building the stylish, high-quality, fuel-efficient vehicles that customers want - and getting them to market fast." Despite the recent downturn, GM has maintained its cadence of strong new products. In the U.S., for example, the Chevy Camaro has surged past its rivals to lead its segment, while the new Chevy Equinox, Cadillac SRX, and Buick LaCrosse are earning strong initial reviews. Later this year, the Cadillac CTS Sport Wagon and GMC Terrain debut, followed next year by the Chevy Volt, Chevy Cruze and Cadillac CTS Coupe. This emphasis on great new products is also reflected in the Chevy Agile now launching in Latin America, in the Chevy Cruze and Buick Excelle in Asia Pacific, and in the new Opel Astra in Europe. Just last month, GM announced its intention to build a new small car at a plant in Orion Township, Michigan, which will add to GM's growing portfolio of fuel-efficient cars and restore approximately 1,400 jobs. GM also has moved aggressively to develop a full range of energy-saving technologies, including advanced internal combustion engines, biofuels, fuel cells, and hybrids. The company is also a leader in the development of extended-range electric vehicles, with its first model, the Chevy Volt, currently undergoing road testing and scheduled to launch in 2010. The new GM is also taking steps to make advanced battery development a core competency, and expects to make additional announcements on this matter late this summer. "The success of our recent launches and the exciting new vehicles and technologies we have in the pipeline are evidence of our ongoing commitment to excel at everything we do," said Henderson. "Our goal is to make each and every General Motors car, truck and crossover the best-in-class." Stronger brands and dealers As part of its reinvention, the new GM has also focused its resources on four core brands and a stronger, more effective dealer network. General Motors' core brands - Chevrolet, Cadillac, Buick and GMC - will have a total of just 34 U.S. nameplates by 2010. This emphasis on fewer, better entries will enable the new GM to put more resources into each nameplate, resulting in better products and stronger marketing. In May, the company accelerated its dealer consolidation efforts, with the goal of reducing the number of GM dealers in the U.S. from 6,000 this spring to approximately 3,600 by the end of next year. Even so, GM will still have the largest dealer network in the U.S. and GM dealers have committed to continue to improve the total customer experience for GM customers. "We're also working on new ways to make car buying more convenient for our customers, including an innovative new partnership with eBay in California to revolutionize how people buy vehicles online," Henderson said. "Customers will be able to bid on actual vehicles just like they do in an eBay auction, including the option of choosing a predetermined 'buy it now' price. We'll be testing this and other ideas with our dealers over the next few weeks, and hope to expand and build upon them in the coming months. In all cases, our goal is to make the shopping and buying process as easy as possible for GM customers - on their time and their terms. Stay tuned." A pledge to regain trust and confidence General Motors Company is primarily owned by the governments of the United States, Canada and Ontario, and by a trust fund providing medical benefits to UAW retirees. Specifically, common stock will be owned by: U.S. Department of the Treasury: 60.8 percent UAW Retiree Medical Benefits Trust: 17.5 percent Canada and Ontario governments: 11.7 percent The old GM: 10 percent "We are very appreciative of the support provided by the stakeholders through the transformation process. Though General Motors Company will not initially be publicly traded, we will be transparent in our financial and other reporting to further strengthen trust and confidence," said Henderson. "We expect to take the company public again as soon as practical, starting next year, and to repay our government loans as soon as possible. We are required to pay off the loans by 2015, but our goal is to repay them much sooner." Stronger balance sheet General Motors Company launches with a strong balance sheet, a competitive cost structure, and a strong cash position, enabling it to compete more effectively with both its U.S. and foreign-based competitors here in the U.S., and to continue its strong presence in growing global markets. The new company acquired old GM's strongest operations and will have a competitive operating cost structure, partly as a result of recent agreements with the United Auto Workers (UAW) and Canadian Auto Workers (CAW). In the U.S., the new GM will be a far leaner company. By the end of 2010, the company will operate 34 assembly, powertrain, and stamping plants, down from 47 in 2008, and capacity utilization is expected to reach 100 percent during 2011. Overall U.S. employment will decline from about 91,000 at the end of 2008 to about 64,000 at the end of this year, creating a company sized to respond quickly to changes in the market, while still retaining the global scope necessary to develop world-class products and technologies. The new GM will begin with a much stronger balance sheet, including U.S. debt of approximately $11 billion, which excludes preferred stock of $9 billion, and could change under fresh-start accounting. In total, obligations have been reduced by more than $40 billion, representing mostly unsecured debt and the VEBA trust fund that provides medical benefits to UAW retirees. The stronger balance sheet and lower break-even point will allow the new GM to reduce its risk, operate profitably at much lower volume levels, and reinvest in the business in the key areas of advanced technology and product development. GM's subsidiaries outside the United States were acquired by the new company and are expected to continue to operate normally without any interruption. A new way of doing business With the launch of the new General Motors, company leaders will work to change the culture of the company, making the speed and decisiveness that GM demonstrated over the past several months the new way of doing business, and adding an intensified focus on the customer. Edward E. Whitacre, Jr., who oversaw the creation of the new AT&T, will serve as chairman of a GM board with a number of new directors. Henderson will continue as president and chief executive officer, working closely with Whitacre. He also will take responsibility for GM's operations in North America, eliminating the GM North America president position. To speed day-to-day decision-making, two senior leadership forums, the Automotive Strategy Board and Automotive Product Board, will be replaced by a single, smaller executive committee, which will meet more frequently and focus on business results, products, brands, and customers. Bob Lutz has agreed to join the new GM as vice chairman responsible for all creative elements of products and customer relationships. Lutz and Tom Stephens, vice chairman, product development, will work together as a team, partnering with Ed Welburn, vice president of design, to guide all creative aspects of design. GM's brands, marketing, advertising, and communications will report to Lutz for consistent messaging and results. He will report to Henderson, and be part of the newly formed executive committee. "I am pleased to announce that we are 'unretiring' Bob Lutz so he can fill this important position in the new GM," said Henderson. "He has a proven track record of unleashing creativity in the design and development of GM cars and trucks. This new role allows him to take that passion a step further, applying it to other parts of GM that connect directly with customers." General Motors will also end its regional operating structure, moving decisions closer to the customer. This eliminates the regional president positions and the regional strategy boards. Nick Reilly will be named executive vice president of GM International Operations (GMIO) which will be based in Shanghai. GM is also removing layers of management - reducing the number of U.S. executives by 35 percent and overall U.S. salaried employment by 20 percent by the end of this year - flattening the organization and speeding decision making. Additional details of the new structure and leadership moves will be communicated later this month, said Henderson. "These and other actions will simplify our organizational structure and reduce the level of bureaucracy that, in the past, has prevented GM from moving faster." More direct communications Henderson also announced initiatives to open more direct communications between customers and GM employees at every level. "Beginning next week, we will launch a 'Tell Fritz' website where customers, or anyone else, can share ideas, concerns, and suggestions directly with senior management. I will personally review and respond to some of these communications every day." Henderson and other General Motors leaders will go on the road regularly to meet with consumers and others with a stake in the new GM. "In August, we'll begin regular visits with customers, dealers, suppliers, employees and others - in the U.S. and abroad - who impact our relationships with customers. We'll be listening to their ideas, and acting on the ones that will improve our ability to serve our customers better. And of course, other executives and I will continue to reach out to customers through our ongoing web and Twitter chats. "Today we launch the new General Motors, and our promise is simple. We will be profitable, we will repay our loans as soon as possible, and our cars and trucks will be among the best in the world," said Henderson. "We recognize that we've been given a rare second chance at GM, and we are very grateful for that. And we appreciate the fact that we now have the tools to get the job done. "To our current customers, we appreciate the confidence that you have placed in us, and going forward, we'll offer you nothing less than great cars, trucks and crossovers, with unmatched customer service. To those who have supported us through this challenging time, we are deeply grateful," said Henderson. "And to those who have never tried a GM vehicle - or who have tried one and been disappointed - we look forward to the chance to win your business and earn your trust."

Stay tuned...

Yea that's just what we need, a further blow to world trade. Thanks, Congress. All trade is good trade, and self-sufficiency = poverty for all.

Is it it just me or do the wheels not fit in the wells quite right?

"Super Epsilon" huh? I thought the current LWB Ep would be long enough, given CAFE and downsizing and all that.

Saw 2 Maybachs today in NYC...

Nice pics. Definitely better looking than the CRV or Rav-4.

Wow. Be grateful you're not wearing an orange jumpsuit...

### *S/D Curr: 25 June (Calendar Year-to-Date) January - June *S/D Prev: 24 2009 2008 % Chg Volume %Chg per S/D 2009 2008 %Chg Volume Vehicle Total 176,571 265,937 -33.6 -36.3 954,356 1,604,942 -40.5 Car Total 83,113 109,224 -23.9 -26.9 402,530 689,507 -41.6 Light Truck Total 91,672 153,105 -40.1 -42.5 544,988 899,728 -39.4 Light Vehicle Total 174,785 262,329 -33.4 -36.0 947,518 1,589,235 -40.4 Truck Total 93,458 156,713 -40.4 -42.7 551,826 915,435 -39.7 GM Vehicle Deliveries by Marketing Division 2009 2008 %Chg Volume %Chg per S/D 2009 2008 %Chg Volume Buick Total 8,601 9,631 -10.7 -14.3 47,223 71,163 -33.6 Cadillac Total 8,473 14,337 -40.9 -43.3 48,583 88,709 -45.2 Chevrolet Total 106,712 159,998 -33.3 -36.0 596,932 964,665 -38.1 GMC Total 19,668 30,713 -36.0 -38.5 118,471 197,220 -39.9 HUMMER Total 1,078 2,072 -48.0 -50.1 6,191 16,158 -61.7 Pontiac Total 23,740 28,402 -16.4 -19.8 88,794 152,754 -41.9 Saab Total 779 1,872 -58.4 -60.1 5,386 12,068 -55.4 Saturn Total 7,520 18,912 -60.2 -61.8 42,776 102,205 -58.1 GM Vehicle Total 176,571 265,937 -33.6 -36.3 954,356 1,604,942 -40.5 GM Car Deliveries by Marketing Division 2009 2008 %Chg Volume %Chg per S/D 2009 2008 %Chg Volume Buick Total 4,807 6,534 -26.4 -29.4 26,301 48,825 -46.1 Cadillac Total 6,138 8,568 -28.4 -31.2 33,043 58,637 -43.6 Chevrolet Total 46,180 57,868 -20.2 -23.4 240,979 387,916 -37.9 Pontiac Total 22,630 26,140 -13.4 -16.9 81,814 140,733 -41.9 Saab Total 602 1,710 -64.8 -66.2 3,851 10,152 -62.1 Saturn Total 2,756 8,404 -67.2 -68.5 16,542 43,244 -61.7 GM Car Total 83,113 109,224 -23.9 -26.9 402,530 689,507 -41.6 GM Light Truck Deliveries by Marketing Division 2009 2008 %Chg Volume %Chg per S/D 2009 2008 %Chg Volume Buick Total 3,794 3,097 22.5 17.6 20,922 22,338 -6.3 Cadillac Total 2,335 5,769 -59.5 -61.1 15,540 30,072 -48.3 Chevrolet Total 59,631 100,912 -40.9 -43.3 352,639 570,624 -38.2 GMC Total 18,783 28,323 -33.7 -36.3 114,947 187,638 -38.7 HUMMER Total 1,078 2,072 -48.0 -50.1 6,191 16,158 -61.7 Pontiac Total 1,110 2,262 -50.9 -52.9 6,980 12,021 -41.9 Saab Total 177 162 9.3 4.9 1,535 1,916 -19.9 Saturn Total 4,764 10,508 -54.7 -56.5 26,234 58,961 -55.5 GM Light Truck Total 91,672 153,105 -40.1 -42.5 544,988 899,728 -39.4 * Twenty-five selling days (S/D) for the June period this year and twenty-four for last year. **Effective August 2007, GM includes GMC & Chevrolet dealer deliveries of commercial vehicles distributed by American Isuzu Motors, Inc. CARS June (Calendar Year-to-Date) January - June 2009 2008 % Chg Volume %Chg per S/D 2009 2008 %Chg Volume Selling Days (S/D) 25 24 25 24 LaCrosse 1,964 2,651 -25.9 -28.9 9,942 21,170 -53.0 Lucerne 2,843 3,883 -26.8 -29.7 16,359 27,655 -40.8 Buick Total 4,807 6,534 -26.4 -29.4 26,301 48,825 -46.1 CTS 3,193 4,626 -31.0 -33.7 20,559 31,990 -35.7 DTS 1,627 2,235 -27.2 -30.1 8,110 16,208 -50.0 STS 1,220 1,590 -23.3 -26.3 3,914 9,711 -59.7 XLR 98 117 -16.2 -19.6 460 728 -36.8 Cadillac Total 6,138 8,568 -28.4 -31.2 33,043 58,637 -43.6 Aveo 2,217 4,511 -50.9 -52.8 11,886 30,482 -61.0 Camaro 9,320 0 ***.* ***.* 15,397 0 ***.* Cobalt 6,847 20,888 -67.2 -68.5 51,676 114,250 -54.8 Corvette 1,396 2,082 -32.9 -35.6 7,498 14,954 -49.9 Impala 14,931 16,671 -10.4 -14.0 78,687 138,952 -43.4 Malibu 11,466 13,650 -16.0 -19.4 75,829 88,575 -14.4 Monte Carlo 3 56 -94.6 -94.9 6 690 -99.1 SSR 0 10 ***.* ***.* 0 13 ***.* Chevrolet Total 46,180 57,868 -20.2 -23.4 240,979 387,916 -37.9 G3 Wave 515 0 ***.* ***.* 1,215 0 ***.* G5 1,671 2,566 -34.9 -37.5 4,856 12,491 -61.1 G6 9,731 14,620 -33.4 -36.1 39,622 85,682 -53.8 G8 3,622 1,536 135.8 126.4 15,691 6,270 150.3 GTO 0 33 ***.* ***.* 0 52 ***.* Grand Prix 36 812 -95.6 -95.7 235 6,947 -96.6 Solstice 939 1,688 -44.4 -46.6 2,684 6,881 -61.0 Vibe 6,116 4,885 25.2 20.2 17,511 22,410 -21.9 Pontiac Total 22,630 26,140 -13.4 -16.9 81,814 140,733 -41.9 9-2X 0 2 ***.* ***.* 0 3 ***.* 9-3 503 1,442 -65.1 -66.5 3,180 8,631 -63.2 9-5 99 266 -62.8 -64.3 671 1,518 -55.8 Saab Total 602 1,710 -64.8 -66.2 3,851 10,152 -62.1 Astra 595 888 -33.0 -35.7 4,210 4,365 -3.6 Aura 1,717 5,897 -70.9 -72.0 10,661 32,938 -67.6 ION 9 38 -76.3 -77.3 12 307 -96.1 Sky 435 1,581 -72.5 -73.6 1,659 5,634 -70.6 Saturn Total 2,756 8,404 -67.2 -68.5 16,542 43,244 -61.7 GM Car Total 83,113 109,224 -23.9 -26.9 402,530 689,507 -41.6 TRUCKS June (Calendar Year-to-Date) January - June 2009 2008 % Chg Volume %Chg per S/D 2009 2008 %Chg Volume Selling Days (S/D) 25 24 25 24 Enclave 3,771 2,986 26.3 21.2 20,876 21,757 -4.0 Rainier 1 9 -88.9 -89.3 4 105 -96.2 Rendezvous 8 10 -20.0 -23.2 9 22 -59.1 Terraza 14 92 -84.8 -85.4 33 454 -92.7 Buick Total 3,794 3,097 22.5 17.6 20,922 22,338 -6.3 Escalade 1,043 2,216 -52.9 -54.8 7,549 12,328 -38.8 Escalade ESV 431 1,098 -60.7 -62.3 2,880 5,854 -50.8 Escalade EXT 184 399 -53.9 -55.7 1,256 2,401 -47.7 SRX 677 2,056 -67.1 -68.4 3,855 9,489 -59.4 Cadillac Total 2,335 5,769 -59.5 -61.1 15,540 30,072 -48.3 Chevy C/T Series 18 43 -58.1 -59.8 31 148 -79.1 Chevy W Series 58 108 -46.3 -48.4 383 951 -59.7 Colorado 2,909 5,842 -50.2 -52.2 16,908 32,351 -47.7 Equinox 4,108 7,411 -44.6 -46.8 25,151 42,101 -40.3 Express Cutaway/G Cut 1,264 1,092 15.8 11.1 5,650 6,714 -15.8 Express Panel/G Van 3,196 3,794 -15.8 -19.1 14,202 26,810 -47.0 Express/G Sportvan 1,298 2,727 -52.4 -54.3 6,752 7,751 -12.9 HHR 6,193 11,126 -44.3 -46.6 30,724 50,818 -39.5 Kodiak 4/5 Series 558 758 -26.4 -29.3 2,181 4,050 -46.1 Kodiak 6/7/8 Series 267 309 -13.6 -17.0 719 976 -26.3 Suburban (Chevy) 1,958 5,549 -64.7 -66.1 14,721 27,921 -47.3 Tahoe 4,114 10,426 -60.5 -62.1 32,215 52,193 -38.3 TrailBlazer 1,004 10,516 -90.5 -90.8 7,142 40,633 -82.4 Traverse 7,289 0 ***.* ***.* 40,679 0 ***.* Uplander 203 5,490 -96.3 -96.5 1,416 33,711 -95.8 Avalanche 1,329 2,649 -49.8 -51.8 7,130 18,301 -61.0 Silverado-C/K Pickup 24,766 34,290 -27.8 -30.7 149,949 231,320 -35.2 Chevrolet Fullsize Pickups 26,095 36,939 -29.4 -32.2 157,079 249,621 -37.1 Chevrolet Total 60,532 102,130 -40.7 -43.1 355,953 576,749 -38.3 Acadia 4,634 4,197 10.4 6.0 27,360 38,269 -28.5 Canyon 768 1,761 -56.4 -58.1 5,197 8,684 -40.2 Envoy 714 2,012 -64.5 -65.9 3,645 12,959 -71.9 GMC C/T Series 72 67 7.5 3.2 242 287 -15.7 GMC W Series 115 208 -44.7 -46.9 778 1,438 -45.9 Savana Panel/G Classic 448 1,137 -60.6 -62.2 2,791 5,221 -46.5 Savana Special/G Cut 152 518 -70.7 -71.8 4,214 5,917 -28.8 Savana/Rally 121 76 59.2 52.8 509 658 -22.6 Sierra 9,014 12,409 -27.4 -30.3 50,067 83,174 -39.8 Terrain 1 0 ***.* ***.* 3 0 ***.* Topkick 4/5 Series 385 1,761 -78.1 -79.0 1,399 5,684 -75.4 Topkick 6/7/8 Series 313 354 -11.6 -15.1 1,105 2,173 -49.1 Yukon 1,832 3,814 -52.0 -53.9 14,353 19,855 -27.7 Yukon XL 1,099 2,399 -54.2 -56.0 6,808 12,901 -47.2 GMC Total 19,668 30,713 -36.0 -38.5 118,471 197,220 -39.9 HUMMER H1 0 0 ***.* ***.* 0 12 ***.* HUMMER H2 193 417 -53.7 -55.6 1,020 3,753 -72.8 HUMMER H3 649 1,655 -60.8 -62.4 3,845 12,393 -69.0 HUMMER H3T 236 0 ***.* ***.* 1,326 0 ***.* HUMMER Total 1,078 2,072 -48.0 -50.1 6,191 16,158 -61.7 Montana SV6 0 32 ***.* ***.* 0 64 ***.* Torrent 1,110 2,230 -50.2 -52.2 6,980 11,957 -41.6 Pontiac Total 1,110 2,262 -50.9 -52.9 6,980 12,021 -41.9 9-7X 177 162 9.3 4.9 1,535 1,916 -19.9 Saab Total 177 162 9.3 4.9 1,535 1,916 -19.9 Outlook 1,734 1,625 6.7 2.4 8,237 13,060 -36.9 Relay 7 15 -53.3 -55.2 12 149 -91.9 VUE 3,023 8,868 -65.9 -67.3 17,985 45,752 -60.7 Saturn Total 4,764 10,508 -54.7 -56.5 26,234 58,961 -55.5 GM Truck Total 93,458 156,713 -40.4 -42.7 551,826 915,435 -39.7

Uncertainty Clouds Recovery of U.S. Investment in GM Carmaker's Shares Would Have to Hit A Historic High If a new General Motors emerges from bankruptcy as planned, U.S. financial aid for the company will expand to nearly $50 billion, but neither the government nor the company is forecasting how much of the public money will be repaid. It's sure to be a stretch. For the United States to fully recover its investment, the value of General Motors stock will have to reach levels it has never before attained. "I'm not going to predict it -- that's not my job today," GM chief executive Fritz Henderson said in a recent interview. "I don't know how much we're going to recover," a senior Obama administration official said as the company headed into bankruptcy last month. This uncertainty stems from the difficulty in valuing the 60 percent GM stake that the United States will receive in exchange for the public investment. The government also gets preferred shares and other compensation. The stake will be worth enough to fully cover the government's direct investment only if GM's stock rises above $68 billion. Even at its recent 2000 peak, GM's stock was worth only $56 billion. "I don't see GM hitting those benchmarks in a very long time," said Maryann Keller, a veteran automotive analyst and author of "Rude Awakening: The Rise, Fall, and Struggle for Recovery of General Motors," which was published in 1989. She noted that global competition will continue to squeeze American automakers. Though the world's factories can produce about 100 million vehicles a year, demand for them only stands at about 55 million, and the gap will push prices and profits down, she said. "It's very unlikely" that the government will recover its money, said David Whiston, auto equities analyst at Morningstar. "GM will be a smaller company after the bankruptcy and there are going to be more foreign automakers entering the market that will make GM's efforts more difficult." Both administration and GM officials assert that after the company springs from bankruptcy -- newly streamlined and freed of most of its debts -- the automaker will reverse its financial fall. Its recovery will pay further, hard-to-measure dividends by supporting the U.S. economy, they add. The company's own internal analysis, prepared by Evercore Partners and presented to the company's board on May 31, shows how the government could recover its investment. According to that presentation, the equity value of the company in 2012 will range from $59 billion to $77 billion. If the stock value rises to the high end of that range, the U.S. could recover all of its investment. "We have certainly looked at scenarios where, over time, a very substantial portion and potentially all of the taxpayer investment in General Motors will be returned," Ron Bloom, a senior adviser to the administration's auto task force, told a Senate committee earlier this month. "But I certainly by no means would say that I am highly confident that that will occur." Bloom and GM chief executive Henderson have suggested that by shedding so much of its debt through bankruptcy, the company's value would be less encumbered and its stock prices freer to rise. Henderson said it would be easy to envision GM's stock rising to levels high enough to cover the government's investment if the company's revenues approximate what they were before the economy faltered. "Can a company with $100 [billion] to $140 billion of revenue have $70 billion of market cap?" Henderson said in an interview last week at the company's headquarters. "Yeah." He said, "It's a function of how we execute, and do we get the margins out of the business that we need?" As the auto rescue has unfolded, the question of whether the government will be repaid has taken on increasingly political overtones, as partisans debate whether the Bush administration or the Obama administration has handled the industry better. The Bush administration began the GM bailout in December, offering the company emergency loans that grew over the coming months to nearly $20 billion. The loan terms called for the company to be restructured. The Obama administration called the company's restructuring efforts inadequate and steered GM toward bankruptcy, from which the company is expected to emerge in July. The government is planning to give the automaker an additional $30 billion as part of the plan to revive the company through bankruptcy. In exchange, the government gets the 60 percent equity stake, and GM will also owe about $6.7 billion in secured debt and about $2.1 billion in preferred shares. Assuming the government is repaid the debt and preferred shares, the value of the company's common shares would then have to rise to roughly $68 billion to pay back the remaining $41 billion in direct GM investment. These calculations do not include the billions of dollars that the United States has put into GMAC, GM's financing arm, and into aiding auto suppliers. On the other hand, it does not capture the likely returns of those investments, nor do the calculations include the stock dilution caused by options, which could raise the break-even point. In announcing the government's intention to put another $30 billion into the company earlier this month, President Obama said, "We're making these investments not because I want to spend the American people's tax dollars, but because I want to protect them." How long it will take to recover them may not be clear for years.

Source Car-Sales Rebound Seen for June Fewer Jobless Claims, Deep Discounts Spurring Demand; Ford to Raise Its Quarterly Production by 16% The beleaguered auto industry could see signs of strengthening demand when auto makers report U.S. sales for June on Wednesday, according to auto makers and analysts. Buoyed by fewer jobless claims and improved consumer confidence, annualized U.S. sales could hit 10 million this month for the first time in 2009, Ford Motor Co. analyst George Pipas said on Monday. The deep discounts that General Motors Corp. and Chrysler Group LLC have offered to boost sales are also likely to bolster June sales. Those factors suggest "the worst is behind us," Mr. Pipas said. "Even if sales fail to hit the 10 million milestone, we're still not slipping back." A GM spokesman also said an annualized 10 million sales rate is possible for June. J.D. Power and Associates predicts annualized June sales of 10.3 million new cars and trucks, up from 9.9 million in May, while Edmunds.com expects the sales rate to top 10 million, though overall sales will still be 25% lower than a year ago. "Consumer confidence is improving, and market uncertainty is starting to decline, which has made consumers more willing to take advantage of deals on new vehicles," said Gary Dilts, J.D. Power's vice president of global automotive operations in a statement. He said Chrysler incentives also likely drove the increase. Underscoring its rosier outlook, Ford said it is now planning production for the third quarter that is 5.4% above its most recent quarterly target. The company said it would build 485,000 new cars and light trucks during the quarter ending Sept. 30, a 16% increase over the 418,000 produced in the year-ago quarter. It is the second time Ford raised its third-quarter output target. Ford said earlier this month that it would raise production 10%, to produce 150,000 cars and 310,000 trucks during the quarter. Monday's revised target adds another 15,000 cars and 10,000 trucks. It would be the first time in two years that Ford's quarterly output would be increased year-over-year, and comes amid fresh signs that the downturn in U.S. auto sales may be abating. "We decided last year to break the mold and stop over producing," said Mark Fields, Ford's president of the Americas. "Our inventory is now down and with demand up, driven by our new products, we are in the position to increase production again. There is definitely a cessation in the deterioration of the economy." Ford's increased output comes as GM and Chrysler are still scrambling to adjust output to lower demand while dealing with bankruptcy-induced reorganizations. GM remains in bankruptcy protection while Chrysler is working to find a new direction after merging its assets with Italian auto maker Fiat SpA earlier this month. Chrysler kept all of its U.S. plants idled during the past two months as it restructured. The company resumed production at seven of its U.S. plants on Monday. Mr. Pipas predicted the industry's seasonally adjusted annualized sales rate, or SAAR, will be about 9.5 million vehicles for the first half of this year. That's a large drop from 2008's sales of about 13 million vehicles and 2007's total of 16 million. Ford, which unlike GM and Chrysler has not needed bailout loans from the government, will likely report a decline in June sales of less than 20% from a year ago, he said. Most auto makers have suffered year-over-year monthly declines of 30% or higher this year. June sales also got a boost as hundreds of dealers who are being forced to close their Chrysler franchises sold off their inventory at deep discounts. GM's Pontiac brand, which is being shuttered as part of the auto maker's restructuring, has also slashed prices in recent weeks to clear its stock.

Saab interiors aren't as clean and uncluttered as Volvos; there are buttons all over the place. But they are still very functional in their design.

Pretty much as you'd expect: the Caddy drives and looks better, but the Lexus has more comforts and better build quality and materials. I'm surprised they ranked the SRX first, though. However, the old SRX got much critical acclaim but was a complete failure in the showroom, so hopefully that doesn't happen this time.

They should do a remake starring a 2004 Malibu Maxx.

Have a good one!

I don't really like it. The DB9 design is 5 years old now, and this also just looks stretched and not substantial enough.

Welcome to Sarbanes-Oxley for the energy industry. More bureaucracy and higher compliance costs, but no real benefits to society as a whole.

I think the squared off wheel arches are a bit much and dwarf the wheels, but overall I like it.

From the CATO Institute. Mourning the Loss of a Great American Capitalist While the big news of the day wouldn’t seem to have a public policy angle, Michael Jackson’s death allows us to remember that such phenomenal career achievements can only be possible in an economic system that rewards and harnesses talent. The King of Pop’s creativity allowed him and his family to make hundreds of millions of dollars, yes, but it also created thousands of jobs in the music and marketing industries and brought joy to fans around the world. Whatever his personal eccentricities — perhaps, in part, as a result of them — Jackson represents a capitalit success story. No central planner could have invented him, and no government bureaucracy could have transformed pop music in the way he did.

I like the front, but the back looks sort of blah like the Subaru Impreza. I hope the interior is a winner.

Sort of like the Porsche Panamera, which is quite ugly, but this looks OK. I'm excited to see a return of hatchbacks and quasi-wagons to the US market. Drives the same as a sedan, but with much more cargo space.