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You may have noticed that TTAC hasn’t joined the MSM’s celebration of Ford’s Q1 financial report. While FoMoCo didn’t lose as much money as analysts predicted—“only” dropping $1.4 billion in Q1—danger lurks around every corner. For one thing, the “it wasn’t as bad as everyone expected” rejoicing represents exactly the same logic GM deployed as it slouched towards Bethlehem. Look how well that turned out. For another, as we also pointed out during GM’s Long March to C11, you can’t cut your way to profits. At some point, Ford’s going to have to build something the North American car market really really wants. The forthcoming Transit van, turbo’ed Taurus, Fusion, etc. ain’t it. Fiesta? I wouldn’t don those sombreros just yet.
The 1992 Volvo 740 had more broken plastic pieces than Joan Rivers (if she hit a brick wall in an Aveo). Grandma had let three generations of family use and abuse it. Bless their hearts. They all made an indelible imprint on it. Split rear seats of leather and cloth. Driver’s side window tucked away in the glovebox. Did I mention the jungle gym activities of the young’uns making the rear seats almost useless? Well Grandma was still awesome with the maintenance. Regular oil changes, a light foot, services in all the right places and, wow . . . original Volvo tape deck. This wagon may have looked like old Eurotrash, but it was still young at heart thanks to Grandma—and the rust-free climate of Atlanta. After the jump, the 2000 Dodge Caravan.
SEATTLE – Lamborghinis may be faster out of the gate, but it appears that Hyundai SUVs may have the edge when it comes to braking, at least in one instance. Motorist Kelly Davis snapped this picture of a traffic accident on Interstate 5 near Seattle Monday morning. The Hyundai Santa Fe hit the brakes in traffic, and the Lamborghini behind it wasn’t able to stop that quickly, sliding under the Hyundai. No one was hurt in the accident.
Yes, well, someone’s pride sure got dinged. [Thanks to Don1967 for the link]
Ah, the suspense of a spaghetti western: Chrysler Vice Chairman Jim Press and sales chief Steve Landry told U.S. dealers on a conference call to hold their breath until they turn blue because “the automaker expected talks aimed at clinching an alliance with Italy’s Fiat to run all the way to an April 30 government-imposed deadline,” says Reuters.
In the meantime, Fiat’s bid for Opel is running into a phalanx of counter-fire and looks deader by the minute. According to Das Autohaus, the powerful metal workers union is “strictly against” Fiat. Also the Opel dealers are not enthused: “We want a strong partner for Opel, and that’s not Fiat” said Thomas Bieling of the Opel Dealer Council. Opel Supervisory board member Schild has compared Opel and Fiat to “two sick parents” who would not create a viable ensemble.
Minnesota Attorney General Lori Swanson is fed up with the state of Illinois for issuing toll road photo tickets and collection notices to innocent drivers in her state. Swanson yesterday fired off a 75-page complaint to the Illinois Tollway, the Illinois Office of the Executive Inspector General and Illinois Governor Pat Quinn (D). Swanson enumerated the problems Minnesotans described when calling her office for help:
Until a few weeks ago, Porsche’s Wiedeking and his CFO, Holger Härter, were feted as the masters of the universe and Jesus Christ rolled into two. After pulling off the impossible feat of showing more profits than sales twice in a row, the two were said to be able of walking on water while turning it in to wine. Now, they are busy updating their résumés. Or maybe even their last wills.
One of our commentators recently asked why the Lincoln Town Car got so much love. It’s an ancient body-on-frame machine that floats like a hippo and stings like a slug. I’m not sure this video answers that question, but I bet some of our Best and Brightest can.
Corporations that stand to gain millions if the Florida legislature legalizes red light cameras have created a network of victim advocacy groups to promote their cause. Central to this effort is Melissa Wandall, founder of the Stop Red Light Running Coalition of Florida. Wandall became involved in the issue after a tragic red light running accident took the life of her husband Mark in 2003. Wandall now uses her status as a victim to travel the state and to lobby the legislature on behalf of red light cameras. Sympathetic newspapers frequently run her opinion pieces on the eve of important committee votes. Far from being a grassroots effort, however, Wandall’s group is part of a slick marketing campaign funded in large measure by the traffic camera industry.
Once again, we’re looking at a “historic” agreement between Detroit carmakers and their unions that’s not what it appears to be. In other words, window dressing. The Detroit Free Press gives us the skinny on the accord between the Canadian Auto Workers (CAW) and The Presidential Task Force on Automobiles—sorry, “Chrysler management.” And the bottom line is that the CAW is giving up its usual bupkis in exchange for the usual “get out of blame free” card re: the company’s evolution into extinction. “Among the benefits the CAW is giving up are a semi-private hospital room coverage, a $3,500 vacation buyout, tuition reimbursement and employee discounts to buy Chrysler vehicles. There are no immediate cuts to the union’s base wage or pension benefits. But Lewenza did agree to significant work rule changes, including reducing break times for meals and bathroom trips to 40 minutes per shift. Regarding the health care trust fund, Lewenza said there was much work still to do and he did not say when it would be implemented.”
And now, a word from the “whatever is is” department . . .
Buried in the Detroit Free Press story trumpeting the Canadian Auto Workers’ latest agreement with Chrysler: news that the Presidential Task Force on Automobiles (PTFOA) plans to split the zombie automaker into two.
“We’re living to fight another day,” [CAW Boss Ken] Lewenza said. “But the fear and uncertainty is not over. Not by a long shot.” Specifically, he said representatives of Chrysler and Fiat told him that if Chrysler files for Chapter 11 bankruptcy protection next week, the company will be split into “a good company and a bad company. And the bad company would be sold off.”
Last night, Chrysler announced it had broken its deadlock with the Canadian Auto Workers (CAW). The press release couldn’t have been more vague if it had simply show a picture of a chocolate pavlova. Here’s the “we won’t show you the money” shot from Tom LaSorda, Vice Chairman and Co-President:
“We are extremely grateful to the CAW leadership and to its hard-working members for their openness in this challenging environment to create a new strategy that will lead this company on a path to success. We also want to recognize the Canadian Federal and Ontario governments for their energy and efforts in helping to move this great Company forward.”
Download this pdf to get the 411 on a new GM-on-the-brink compensation scheme, sent to us by a member of TTAC’s Best and Brightest. The program has been activated by GM’s recent decision to shut down production for nine weeks over the summer. How’s this for reassurance? “SDPA salary will be paid on a semi-monthly basis. The current percentage established by this policy is 75%. Leadership reserves the right to terminate, modify, suspend, increase or decrease salaries and benefits provided under this policy.” Equally worrying (for some), employees getting free vehicles form GM will have to pay for their own fuel during the downtime. “Fuel expenses incurred during the entire paid downtime period are at the expense of the employee (similar to when on vacation or Holiday). All other vehicle expenses (e.g., oil changes, etc.) will continue to be covered in accordance with the PEP/ECVP rules and terms in effect throughout the paid downtime period(s).” Every 3000 miles?
Charles “Chuck” Hurley is the head of Mothers Against Drunk Driving (MADD). He’s also a totalitarian nanny-stater who wants arbitrary check lanes and a 55 mph national speed limit. Hurley also hearts a .04% Blood Alcohol Content limit, which would make you DUI after one drink. Oh, and he has ties to the red light camera industry. The news arrives via a Washington Times editorial so it’s written from the right. But the facts are facts. Way too busy with an embroidery job for a motorcycle club to write on this but wanted to give you a heads up. It’s been missed by the autoblogosphere.
“I’ve heard of some updated information. It sounds like progress is being made and I hope they’re successful in their discussions together so that Chrysler can avoid liquidation,” Canadian Finance Minister Jim Flaherty told reporters after a meeting of G7 finance ministers and central bankers in Washington. And it’s timing Jim. But. Not. As we know. It. Reuters: “Minutes before Flaherty spoke, the Canadian Auto Workers Union postponed a press conference scheduled for 6 p.m. (1000 GMT), in which it was expected to announce an agreement.” [Thanks to Jules for the link]
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