Autoblog

REPORT: Michigan gives GM tax break but automaker to still halve staff at RenCen

Jonathon Ramsey — Fri, 18 Dec 2009 08:30:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Earnings/Financials

There are roughly 4,000 GM employees working at the company's Renaissance Center headquarters in Detroit. During the restructuring, GM has been working out how many employees to let go and where to put the remainder, and that, for the state of Michigan, meant another few thousand workers unemployed.

To lessen the damage, the Michigan Economic Growth Authority (MEGA) has been in talks with GM to limit the number of retrenched employees. The General had committed to maintaining a workforce of 2,500 at the RenCen in exchange for a $50 million tax break over twenty years, but the number was recently reduced to 2,000. GM simply needs to do all it can to get itself back in contention.

The company will still receive the tax break and talks are continuing, yet while there aren't many details it's an intriguing deal to strike. This could be cynical of us, but GM has white-collar workers in numerous locations in Michigan, and we wonder if the company wouldn't simply shuffle people around to keep the required number at the RenCen but get rid of all the employees it feels it needs to. And when the company gets its new CEO, well, as we've seen before, he or she might plot a very different course than the one being charted now.

[Source: Detroit News | Image: Bill Pugliano/Getty]

REPORT: Michigan gives GM tax break but automaker to still halve staff at RenCen originally appeared on Autoblog on Fri, 18 Dec 2009 08:30:00 EST. Please see our terms for use of feeds.

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Lotus appoints Ferrari designer Donato Coco as new design director

Sam Abuelsamid — Tue, 15 Dec 2009 14:01:00 EST

Filed under: Hirings/Firings/Layoffs, Lotus, Design/Style

The upper echelon at Lotus continues to evolve, with today's announcement that Donato Coco has been appointed as the new director of design at the UK sports car maker and engineering consultancy. The Italian designer is moving to Hethel from Ferrari headquarters in Maranello where Coco worked on recent products like the F430 Scuderia coupe, Spider 16M, California, 599XX and the new F458 Italia. Prior to his Ferrari tenure, Coco was the chief designer at Citroen.

With Coco's hiring, Lotus hopes to bring its design expertise up to par with its engineering work for other automakers. Coco will also oversee the design of the upcoming Lotus product range which will continue to be led by current design head Russell Carr. With Coco and Carr, Lotus will be producing an Evora convertible, an all new Esprit and eventually a new Elise and Exige in the coming years.

[Source: Lotus]

Continue reading Lotus appoints Ferrari designer Donato Coco as new design director

Lotus appoints Ferrari designer Donato Coco as new design director originally appeared on Autoblog on Tue, 15 Dec 2009 14:01:00 EST. Please see our terms for use of feeds.

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McLaren's Whitmarsh reportedly elected to replace Montezemolo as FOTA chairman

Noah Joseph — Tue, 15 Dec 2009 08:32:00 EST

Filed under: Motorsports, Hirings/Firings/Layoffs

There's only so many chairs one man can sit in at once. But Luca di Montezemolo has made an art out of pushing the limits. In addition to serving as chairman of both Ferrari and the Fiat group, the hereditary nobleman was, until recently at least, also chairing the Italian Confindustria employers' federation and the FIEG editorial organization. But something's got to give, and at the end of this year he's stepping down from his role as the founding chairman of the Formula One Teams Association.

In his place, according to the latest reports, will serve one Martin Whitmarsh, recently promoted to team principal of the McLaren team after Ron Dennis went off to concentrate on the emerging road car division. Meanwhile, Red Bull chief Christian Horner was reportedly elected to chair the Sporting Working Group while Ross Brawn stays on as head of the Technical Working Group within FOTA. The meeting of the team principals took place in Monaco on the heels of the F1 Business Forum and the Formula 1 Commission meeting.

[Source: Autosport | Image: Clive Mason/Getty]

McLaren's Whitmarsh reportedly elected to replace Montezemolo as FOTA chairman originally appeared on Autoblog on Tue, 15 Dec 2009 08:32:00 EST. Please see our terms for use of feeds.

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2010 F1 grid comes into focus as Lotus signs Trulli and Kovalainen

Noah Joseph — Mon, 14 Dec 2009 18:27:00 EST

Filed under: Motorsports, Hirings/Firings/Layoffs, Lotus

The pieces to the puzzle that is the upcoming Formula One season are coming together bit by bit. In the latest development, the upstart Lotus F1 Racing team has announced the signing of two veteran drivers: Jarno Trulli and Heikki Kovalainen.

A former Monaco Grand Prix race winner, Trulli has driven for five different teams over the course of the past twelve years on the grid. Speculation was that he could switch to NASCAR following a recent test with Michael Waltrip Racing, particularly as the Toyota team for which he'd been driving for the past six years announced its withdrawal from the series. Finnish driver Kovalainen, meanwhile, is also a former race winner, left without a ride when McLaren replaced him with reigning world champion Jenson Button. Local aspirant Fairuz Fauzy, formerly of Malaysia's A1GP team, will serve as reserve/test driver.

The announcement was made by Malaysia's prime minister, whose government is backing the team. Although the outfit has no direct ties with the automaker of the same name - save for mutual patronage by Malaysia's state-run Proton - the British sportscar-maker and engineering firm could buy into the team at some point in the future as part of its comprehensive racing plan, giving Lotus the kind of operation Ferrari has run for decades.

With the Lotus drivers in place and Force India having recently confirmed the retention of Adrian Sutil and Tonio Liuzzi, the 2010 grid is rapidly taking form. The only remaining seats are with Mercedes/Brawn GP (which has yet to announce Nico Rosberg's team-mate as speculation intensifies over Michael Schumacher's return), Renault (which has yet to announce a wingman for Robert Kubica as the team's future remains in question), Sauber (which was only recently approved for next season), Toro Rosso, Campos Meta (which has announced only Bruno Senna), Virgin/Manor (which has confirmed only Timo Glock so far) and USF1.

Follow the jump for the full press release from Lotus.

[Source: Lotus F1 Team | Image: Bongarts/Getty]

Continue reading 2010 F1 grid comes into focus as Lotus signs Trulli and Kovalainen

2010 F1 grid comes into focus as Lotus signs Trulli and Kovalainen originally appeared on Autoblog on Mon, 14 Dec 2009 18:27:00 EST. Please see our terms for use of feeds.

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Retiring Saturn chief Lajdziak to take over Smart USA sales and marketing

Sam Abuelsamid — Sat, 12 Dec 2009 14:02:00 EST

Filed under: Hirings/Firings/Layoffs, Hatchback, Smart

Saturn general manager Jill Lajdziak spent several months this summer and fall working closely with Roger Penske and his staff, trying to iron out the details of the brand's proposed purchase from General Motors. As we all know, that agreement fell apart when Renault's board of directors vetoed a deal to supply cars to a Penske-owned Saturn. When GM decided to shutter Saturn, Lajdziak promptly announced that she would retire from General Motors at the end of this month.

Apparently, in spite of the Saturn deal's collapse, Penske was impressed by Lajdziak and has now hired her to take over sales and marketing at another of his enterprises, Smart USA.

Lajdziak will become VP of Smart USA on January 1, and will have quite a challenge in front of her. Smart sales have gone into free fall of late. For the year, sales are down 38 percent, and in recent months, they've dipped as much as 70 percent. It seems that everyone who wanted one of the tiny two-seaters has now bought one.

[Source: Automotive News - Sub. Req.]

Retiring Saturn chief Lajdziak to take over Smart USA sales and marketing originally appeared on Autoblog on Sat, 12 Dec 2009 14:02:00 EST. Please see our terms for use of feeds.

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Star Search: Fresh talent descends on Jerez for F1 mega test

Noah Joseph — Sat, 12 Dec 2009 09:01:00 EST

Filed under: Motorsports, Hirings/Firings/Layoffs

F1 Young Drivers Test at Jerez - Click above for high-res image gallery

The biggest football fans don't just watch the NFL. They're watching college football too. If not because they say it's a better spectacle, then simply to see the future pros who'll ultimately be drafted by NFL teams.

Formula racing works the same way. (Well, sorta.) There are countless feeder series staged every year around the world, and most of the drivers in them are hoping for their shot at the big leagues. But with championships split between so many series - from Formula Renault to GP2 and from Indy Lights to Formula 2 - it can be a bit much to follow.

Fortunately this year in the off-season, all the returning F1 teams came together for one massive test at the Jerez track in Spain. There they put the latest crop of up-and-coming talent to the test. Follow the jump to read how it unfolded.

Gallery: F1 Young Driver Test, Jerez, December 2009

Continue reading Star Search: Fresh talent descends on Jerez for F1 mega test

Star Search: Fresh talent descends on Jerez for F1 mega test originally appeared on Autoblog on Sat, 12 Dec 2009 09:01:00 EST. Please see our terms for use of feeds.

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Buick-GMC general manager Michael Richards leaves after just nine days on the job

Jonny Lieberman — Thu, 10 Dec 2009 16:20:00 EST

Filed under: Hirings/Firings/Layoffs, Buick, GM, GMC

Nine days ago, we posted about Michael Richards getting Susan Docherty's old post at General Motors, brand manager for Buick-GMC. Today, he walked away. According to The Detroit News, the official (yet still unofficial) reason is that Richards' previous employer - Trinity Automotive in Austin, TX - made him a very strong counter offer. Though it seems to us that Trinity would have made the counter offer before Richards packed up and moved north, and we've also heard rumblings from Detroit insiders that there's more to this story than meets the eye.

Whatever the actual reason for Richards' abrupt departure, Buick-GMC is currently without a leader. Chevrolet is in a bit of a better position, even though just yesterday its vice president and 31-year company vet Brent Dewar suddenly retired. Dewar was appointed to his position in July by ex-CEO Fritz Henderson, who just resigned/was outsted from GM... nine days ago. Dewar was immediately replaced by Jim Campbell, Chevy's Fleet and Commercial Operations manager.

It seems mostly obvious to us, that both Richards and Dewar's sudden departures have to do with Henderson leaving. Because honestly, it sure as hell ain't the weather outside the Renaissance Center. As for Richards specifically, it must have been odd and unsettling to start a new career on the very same day that the guy that hired you exits stage left.

[Source: The Detroit News]

Buick-GMC general manager Michael Richards leaves after just nine days on the job originally appeared on Autoblog on Thu, 10 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

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Chevrolet Vice President Brent Dewar retires from GM

Damon Lavrinc — Wed, 09 Dec 2009 18:47:00 EST

Filed under: Hirings/Firings/Layoffs, Chevrolet

In yet another "that didn't take long" moment from General Motors, Chevrolet's vice president, Brent Dewar, has retired after being appointed in July by recently-ousted CEO Fritz Henderson.

GM's vice president of Sales, Service and Marketing, Susan Docherty, made the announcement late today, with Dewar being replaced by Jim Campbell, the General's former Fleet and Commercial Operations manager, effective immediately.

Unlike the recent push to find an outsider to fill Fritz' vacancy, Campbell, 45, has been with the automaker since 1988 -- effectively making him another GM-lifer. Let's hope Campbell serves a longer stint as vice president than his predecessor -- a total of five months. Press release after the break.

Continue reading Chevrolet Vice President Brent Dewar retires from GM

Chevrolet Vice President Brent Dewar retires from GM originally appeared on Autoblog on Wed, 09 Dec 2009 18:47:00 EST. Please see our terms for use of feeds.

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Mad Money host Jim Cramer calls Whitacre 'assassin of the bad'

Jonny Lieberman — Wed, 09 Dec 2009 08:01:00 EST

Filed under: Hirings/Firings/Layoffs

We've spilled some ink about CNBC Mad Money host Jim Cramer before, the financial expert who - as The Daily Show pointed out - missed the whole Great Depression 2.0 thing. Of course, it's not fair to single out Mr. Cramer, as 99 out of 100 economists thought credit default swaps based upon ill-conceived home loans to people with lousy credit was a sure-fired, long-term money-making bonanza.

Regardless, Jim Cramer is very bullish on General Motors' new interim CEO and former Southwestern Bell exec, Ed Whitacre. Says Cramer of Ed, "He was fierce and proud and was going to do whatever was necessary to rebuild the greatness of this once amazing company." Sounds good to us. Especially if Mr. Whitacre applies that devil-may-care acumen to doing-better-but-still-ailing General Motors. GM's problem is, for every Cadillac CTS-V, there's a Chevrolet Aveo.

Put another way, for every Ed Whitacre, there's a Fritz Henderson. Or ten. Still, if Jim Cramer is to be believed, Whitacre is an "assassin of the bad." Unions? Watch your butts, as "he's going to take it to them." Senior management might even be in worse trouble, as Cramer says, "He doesn't need you. He likes to run the place with a shoestring administration." Again, we hope Cramer's right. But we also know that those ten Fritz Hendersons are dug into GM's corporate structure like Alabama ticks.

[Source: Blogging Stocks | Image: Rusty Jarrett/Getty]

Mad Money host Jim Cramer calls Whitacre 'assassin of the bad' originally appeared on Autoblog on Wed, 09 Dec 2009 08:01:00 EST. Please see our terms for use of feeds.

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REPORT: Spencer Stuart tasked with finding new GM CEO

Jonathon Ramsey — Tue, 08 Dec 2009 16:20:00 EST

Filed under: Hirings/Firings/Layoffs, GM

Headhunting firm Spencer Stuart is without doubt on the speed-dial lists of bailed-out firms, having placed chairmen, CEOs, Chrysler Group LLC, and board members for AIG, Citigroup Inc., Freddie Mac, Fannie Mae, and GMAC. Then they flew over General Motors so that Ed Whitacre, Jr. could heli-drop in. Now, The Wall Street Journal is reporting that GM has chosen Spencer Stuart to assist it in locating a permanent CEO to take up the position from Whitacre.

GM's list of requirements makes it clear they're looking for someone bionic, having "extensive global, manufacturing and turnaround experience." The new person should also have solid credentials working with Asia, since GM believes it will move more metal over there than in the U.S. next year, and the prospective bigwig doesn't need to come from within the auto industry'sranks.

No national preference has been put forth for the new CEO, only that he or she be "global minded." Perhaps the most important proven attribute they can bring: the ability to restore morale. It's an impressive list, but that's frankly the kind of CEO we would expect GM to require anyway, regardless of its economic and market position. And it does kind of make us wonder if Alan Mulally could simultaneously run two carmakers...

[Source: The Wall Street Journal]

REPORT: Spencer Stuart tasked with finding new GM CEO originally appeared on Autoblog on Tue, 08 Dec 2009 16:20:00 EST. Please see our terms for use of feeds.

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Here's the Plan: GM reveals how it will deal with shuttered dealers' complaints

Jeremy Korzeniewski — Fri, 04 Dec 2009 16:27:00 EST

Filed under: Government/Legal, Hirings/Firings/Layoffs, GM

Back in May, General Motors announced plans to close down a large portion of its dealership network. Since then, a number of those franchisees have lodged complaints to both the automaker itself and appropriate policymakers, leading to possible legislation on how GM is allowed to handle the closing of dealerships. This being the case, The General is proactively drafting a new set of rules as to how it will deal with these to-be-shuttered dealerships, and it promises that some are likely to be reinstated after the process.

Specific details can be seen in the press release pasted after the break, but it seems that the new plan basically will allow these affected dealerships to get some real-life face time with the automaker to hear exactly whey they were targeted for closure. If the dealer still isn't happy with the outcome, it can elect to enter binding arbitration. If that arbiter finds that GM chose to shutter the dealership for anything other than sound business reasons, the franchise stands to be reinstated.

There's plenty more detailed in the plan, including a provision for GM to help service technicians and dealership employees find new placement, after the break. This plan will go into effect by mid-January "provided that legislation related to GM's dealer restructuring does not move forward."

[Source: General Motors | Image: Justin Sullivan/Getty Images]

Continue reading Here's the Plan: GM reveals how it will deal with shuttered dealers' complaints

Here's the Plan: GM reveals how it will deal with shuttered dealers' complaints originally appeared on Autoblog on Fri, 04 Dec 2009 16:27:00 EST. Please see our terms for use of feeds.

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Is Peugeot-Citroën on the verge of buying Mitsubishi?

Jeremy Korzeniewski — Fri, 04 Dec 2009 15:59:00 EST

Filed under: Hirings/Firings/Layoffs, Mitsubishi, Earnings/Financials, Peugeot, Citroën

The French and the Japanese have gotten together to form a magic partnership once already with Carlos Ghosn at the helm. The question is, then, can that success be replicated? PSA Peugeot-Citroën seems to hope so, and it is reportedly on the verge of purchasing a controlling stake (somewhere between 30 and 53 percent, depending on the report) in Mitsubishi Motors.

The total price for the acquisition would cost the European automaker over $3 billion and the deal would also include Mitsubishi acquiring a somewhat smaller stake in PSA Peugeot-Citroën - again, similar to the situation between France's Renault and Japan's Nissan.

So, what does Mitsubishi have that Peugeot wants? Three things, apparently: A presence in the States, SUV expertise and, perhaps most importantly, electric vehicle technology. If a deal does indeed take place, the resulting entity would be the sixth largest automaker by sales in the world.

[Source: BusinessWeek]

Is Peugeot-Citroën on the verge of buying Mitsubishi? originally appeared on Autoblog on Fri, 04 Dec 2009 15:59:00 EST. Please see our terms for use of feeds.

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BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed]

Chris Paukert — Fri, 04 Dec 2009 10:00:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Earnings/Financials

Having just been appointed interim CEO at General Motors earlier this week, ex-AT&T man Ed Whitacre isn't wasting any time in exercising his newfound authority. According to The Wall Street Journal, Whitacre is to announce a number of management changes this morning, including moving Vice Chairman Bob Lutz from his role in marketing to a more product planning-focused role. Whitacre is also expected to promote some of the company's younger managers to new positions, although it has not yet been revealed who is targeted.

According to the WSJ, Whitacre "drew up the new management blueprint in a matter of four hours," suggesting to us that he already had a number of changes in mind. Further, he is also expected to combine GM's sales and marketing divisions

While Whitacre has only been on the job since Tuesday and he is technically only considered an interim appointment at this time, the search for a new CEO is thought likely to take months, if not a year. From the looks of things, Whitacre isn't looking at himself as simply a placeholder, though, and we wouldn't be surprised to see more changes as the weeks and months roll by.

*UPDATE: Changes confirmed: GM has issued a press release (viewable after the jump). Among the moves, Bob Lutz will be an 'advisor' on design and global product - he will retain his title of vice chairman. Other changes include Mark Reuss named as president of GM North America, Susan Docherty appointed VP, vehicle sales, service, and marketing operations. For a full list of changes, click past the jump for the release.

[Source: The Wall Street Journal I Image: Bill Pugliano/Getty]

Continue reading BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed]

BREAKING: Whitacre to shakeup GM management, put Lutz in product planning [UPDATE: Confirmed] originally appeared on Autoblog on Fri, 04 Dec 2009 10:00:00 EST. Please see our terms for use of feeds.

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Fifth Gear: Hope yet for Britain's other car show?

Noah Joseph — Thu, 03 Dec 2009 16:39:00 EST

Filed under: Hirings/Firings/Layoffs, UK, Celebrities, Rumormill

Our heart goes out to the crew at Fifth Gear. It really does. Because it's got to be tough living in the shadow of the BBC show that spawned it. We're talking about Top Gear, of course, and by any other yardstick, Fifth Gear is a fantastic car show. But its popularity has never approached what Clarkson and company enjoy, which has reportedly led to UK's Channel 5 decision to cancel the show. Which is really a shame.

All hope may not be lost, however, as reports indicate that Channel 5's decision isn't final just yet. But if it is, the show's lead host Tiff Needell has hinted that it could very well get picked up by another network altogether. Alternatively, Needell could get a show of his own. If he does, we hope he takes some of his co-hosts with him. Because short of Jezza, Hampster, Captain Slow and the Stig, Fifth Gear's ensemble is one of the best - on the airwaves or off. Thanks for the tip, Paul T!

[Source: Tiff Needell on Twitter via iCars Singapore]

Fifth Gear: Hope yet for Britain's other car show? originally appeared on Autoblog on Thu, 03 Dec 2009 16:39:00 EST. Please see our terms for use of feeds.

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Michael Richards named Buick GMC general manager

Chris Shunk — Tue, 01 Dec 2009 19:01:00 EST

Filed under: Hirings/Firings/Layoffs, Buick, GM, GMC

Fritz Henderson's unexpected resignation may have taken top billing today, but it wasn't the only move announced by General Motors today. Michael Richards has been named the new General Manager of Buick GMC effective immediately, with the automaker looking from outside the company to fill the roll. Richards replaces Susan Docherty, who was named Vice President of US Sales in October. Richards joins GM after a short stint at Trilogy Automotive in Austin, Texas, where he led the use of digital and Internet-based solutions. Richards also worked as a consultant for JD Power where he launched tools for improved vehicle launch profitability and customer satisfaction.

The bulk of Richards' experience comes from cross-town rival Ford where he worked from 1981-2008. Richards was most recently the marketing brand manager for Lincoln Mercury from 2006-2008. Prior to that he worked as the general sales manager for Ford Customer Service from 2002-2006.

Regardless of where Richards received his management chops, Vice Chairman and Marketing and Communications chief Bob Lutz likes what he has with the long-time Ford man. "We are pleased to have Mike as a member of the GM family. His vast sales and marketing experience will be invaluable in his new role, as he leads the team building the Buick and GMC brands."

[Source: GM]

Continue reading Michael Richards named Buick GMC general manager

Michael Richards named Buick GMC general manager originally appeared on Autoblog on Tue, 01 Dec 2009 19:01:00 EST. Please see our terms for use of feeds.

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BREAKING: GM CEO Fritz Henderson steps down

Jeremy Korzeniewski — Tue, 01 Dec 2009 16:45:00 EST

Filed under: Hirings/Firings/Layoffs, GM

Well, that was quick. Fritz Henderson, the recently appointed CEO of General Motors, is stepping down. Company chairman of the board Ed Whitacre (remember the "Satisfaction Guaranteed" commercials, that's the guy) is set to act as the interim CEO until a permanent replacement is found.

This marks the second CEO that beleaguered automaker General Motors has lost this year, the first being Rick Wagoner, who was asked to resign by the Obama Administration's Task Force for Autos. Over the last few months, deals that GM had made to offload Opel, Saturn and Saab have all fallen through, and some have reported on clashing styles between Whitacre and Henderson.

General Motors has just confirmed the news via a press conference being held as we speak. Stay tuned for more as we learn it.

UPDATE: Official Statement from Ed Whitacre, GM's new interim CEO, added after the jump.

[Source: Free Press, GM | Image: Philippe Lopez/Getty]

Continue reading BREAKING: GM CEO Fritz Henderson steps down

BREAKING: GM CEO Fritz Henderson steps down originally appeared on Autoblog on Tue, 01 Dec 2009 16:45:00 EST. Please see our terms for use of feeds.

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Global search reportedly on to find successor for Ratan Tata

Jonathon Ramsey — Tue, 01 Dec 2009 07:59:00 EST

Filed under: Etc., Hirings/Firings/Layoffs, Tata

Three years ago the retirement age for Tata's holding company was upped to 75. Although Ratan Tata is only 71, there is no obvious successor to take his place at the head of India's global conglomerate, so the search has begun for the leader of the next act.

Whoever that person is will take the conductor's baton and guide an orchestra of 98 companies and 357,000 workers. He or she will also need to deal with the twin anchors of Jaguar-Land Rover debt and Corus Steel debt, both of which were brought on by economic freefall after top-of-the-market acquisitions.

At this point it looks like the CEO spot will be taken by someone outside the Tata family for only the second time in the history of the company. And while Ratan Tata has said "It would certainly be easier if [my successor] were an Indian national," he is open to filling the position with a foreigner. The company has three years to conclude, with Tata expected to step down in 2012.

[Source: Times Online | Photo: INDRANIL MUKHERJEE/AFP/Getty Images]

Global search reportedly on to find successor for Ratan Tata originally appeared on Autoblog on Tue, 01 Dec 2009 07:59:00 EST. Please see our terms for use of feeds.

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Danica Patrick signs multi-year deal to stay in IRL with restructured Andretti Autosport

Noah Joseph — Mon, 30 Nov 2009 12:59:00 EST

Filed under: Motorsports, Hirings/Firings/Layoffs

There are plenty of reasons why Danica Patrick stays in the news. If it's not her famous temper, photo shoots for Sports Illustrated or racy television commercials, it's her impressive results on the race track. She is, after all, the first woman to win an Indy race and, after finishing third at the Brickyard this year, the most successful woman to race the Indy 500. But lately the news has centered over the future of her racing career.

Rumors first began to pop up that Danica could move on up to Formula One, initially linked with Honda and then with USF1 before Bernie Ecclestone put his foot in his mouth. Again. Most recently, however, Danica's been tipped to switch to NASCAR. But with the latest announcement, those rumors have been quashed. Well, sorta.

Announced live today in Times Square on ABC's Good Morning America, Danica has signed a "multi-year" deal (tipped to be three years) to stay in the IndyCar Series with Michael Andretti's team. The four-car squad is restructuring this year, with partners Kim Green and Kevin Savoree splitting off the race promotion arm (responsible for the races in St Petersburg and Toronto), while Michael Andretti stays on to manage the team that drops the Andretti Green Racing moniker in favor of Andretti Autosport. GoDaddy.com has signed on to continue its sponsorship of Danica's No. 7 car. Tony Kanaan and Marco Andretti are locked into long-term deals for two of the other cars, while the fourth car is expected to go to former Rookie of the Year and race winner Ryan Hunter-Reay.

The announcement of Danica's extended contract would seem to put an end to the NASCAR rumors for at least the next three years, but reports still suggest that the talented Miss Patrick could run a parallel schedule in the second-tier Nationwide Series while contesting the full IndyCar calendar as well. Busy beaver indeed.

[Source: Andretti Autosport]

Continue reading Danica Patrick signs multi-year deal to stay in IRL with restructured Andretti Autosport

Danica Patrick signs multi-year deal to stay in IRL with restructured Andretti Autosport originally appeared on Autoblog on Mon, 30 Nov 2009 12:59:00 EST. Please see our terms for use of feeds.

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Who will succeed Mullaly at Ford? It's never too early to start handicapping

Chris Shunk — Thu, 26 Nov 2009 13:32:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

When Alan Mulally arrived at Ford Motor Company three years ago, the Blue Oval was in bad shape. New product wasn't exactly pouring in and the company's cash hoard was steadily shrinking. And word on the street is that the corporate culture at Ford was in as much trouble as the product lineup, making change difficult. Now in 2009, it appears Mulally has done the near impossible, turning around Ford's product lineup while supposedly positively altering FoMoCo's corporate culture.

For all of Mulally's success, there is one problem: he's 64 and can't continue to run the company forever. And although Mulally has given no signals of separating from Ford any time soon, industry insiders are already speculating on who will become his successor. The four names that continue to come up are Ford Americas President Mark Fields, global marketing boss Jim Farley, manufacturing whiz Joe Heinrich and Ford Europe savior Lewis Booth.

The Detroit Free Press feels the early money is on Fields. The Harvard grad has been with Ford for 20 years, and he's lead some high profile success stories. He turned around Mazda and is currently piloting Ford North America in the midst of what appears to be a substantial product renaissance. Farley has an advantage in that he came to Ford from Toyota/Lexus and is seen by many as a real up and comer.

By many accounts, Heinrich is a bit of a manufacturing genius. The Harvard Business grad came from General Motors, where he became the company's youngest ever Plant Manager at age 29. Booth has the longest resume and arguably the most examples of success. He appears to have consistently met and exceeded expectations everywhere he has been, including Mazda, Ford Asia Pacific and Ford South Africa. Booth is different from his fellow executives in that he is the only one who isn't in his 40s.

We have no earthly idea who would become the next head of Ford, and we're guessing that we're at least a couple years away from finding out. We're OK with that, because this Mulally guy appears to know what he's doing.

[Source: Detroit Free Press | Photo by Bill Pugliano/Getty]

Who will succeed Mullaly at Ford? It's never too early to start handicapping originally appeared on Autoblog on Thu, 26 Nov 2009 13:32:00 EST. Please see our terms for use of feeds.

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GM swings the axe: 9,000 Opel jobs likely to be eliminated

Alex Nunez — Wed, 25 Nov 2009 16:25:00 EST

Filed under: Europe, Hirings/Firings/Layoffs, GM, Opel

General Motors shouldn't expect to achieve David Hasselhoff-level popularity in Germany anytime soon. The Detroit News reports that since GM has elected to keep and restructure its Opel division, 9,000 jobs (or somewhere thereabouts) will likely be cut, with the majority of those losses expected in Deutschland. The jobs will be eliminated as part of a $5 billion restructuring plan, which GM hopes to fund with a lot of help from European governments, as well as "employee contributions" (read: concessions). Just don't expect Angela Merkel to break out her Visa debit card anytime soon.

Opel/Vauxhall CEO Nick Reilly wins the Unintentionally Hilarious Quote of the Day award for this line: "We have also said that GM can and will put some money in, as well." What a novel concept. Digressing for a moment: Given that GM is out shaking the coffee can looking for ways to fund the Opel restructuring, it's hard to imagine a scenario where they find a way to save Saab, too. Getting the Opel business in order hardly sounds like it's going to be a picnic, so a rescue of the ailing Swedish automaker has got to be low on the priority list right now.

[Source: The Detroit News | Image Source: Thomas Lohnes/Getty]

GM swings the axe: 9,000 Opel jobs likely to be eliminated originally appeared on Autoblog on Wed, 25 Nov 2009 16:25:00 EST. Please see our terms for use of feeds.

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