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Obama Aims to Allay Auto Lobby Concern on Korea Trade

Sat, 21 Nov 2009 00:00:00 -0800

Bloomberg - By Edwin Chen, Julianna Goldman - Nov. 21 (News Report) - President Barack Obama said he is committed to pushing through a free trade agreement with South Korea that has been stalled by the U.S. auto lobby and unions, who argue it doesn’t do enough to open up Korean markets. Obama’s joint press conference in Seoul today with South Korean counterpart Lee Myung Bak was a last chance on his four- nation Asia trip to show he opposes protectionism. The accord has been held up in Congress, where lawmakers are demanding wider access for Chrysler Group LLC, Ford Motor Co. and General Motors Co. Lee said today he is willing to reopen talks on the auto industry.

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Vehicle telemetry: Calling all cars

Thu, 19 Nov 2009 00:00:00 -0800

Economist - Nov. 19 (Special Report) - One way or another, a quarter of the world’s new cars will be equipped with some form of remote monitoring and control system by 2016, predicts Egil Juliussen, an analyst with iSuppli, a Californian company that monitors technology trends. The result will be cars that are not only impossible to steal, but can also call the emergency services if the airbags go off in an accident, make themselves more comfortable to drive before their owners get in, and even admit an owner who has mislaid his keys. (Every month more than 60,000 OnStar subscribers ask for the doors of their cars to be unlocked remotely, because they have locked themselves out.)

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G.M., Citing Progress, Reports Loss of $1.15 Billion

Mon, 16 Nov 2009 00:00:00 -0800

Associated Press - By Nick Bunkley - Nov. 16 (News Report) - it [ GM ] plans to make a $1 billion payment to the federal government in december, more than five years before the loans are due, and to make similar quarterly payments after that.

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GM Plans to Repay U.S. Loan

Mon, 16 Nov 2009 00:00:00 -0800

Wall Street Journal - By John D. Stoll - Nov. 16 (News Report) - General Motors Co. plans to begin paying back a $6.7 billion loan it owes the U.S. government starting late this year, putting it on track to potentially repay the entire note by the middle of 2011, said a person familiar with the matter. But in a move that could be controversial and risky, the car maker plans to use other money it received from the government to pay back the borrowing.

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