The WSJ reports from unnamed sources "familiar with the matter" that GM was in talks with Cerberus to trade the rest of GM's stake in GMAC with Cerberus for the car (not finance) part of Chrysler.
This seems like a bizarre idea to me. GM would be picking up a big portfolio of non-competitive products (Sebring, Caliber, etc.) and redundant products (Ram). GM would also get lots of deflated real estate, such as the sprawling Auburn Hills headquarters, not to mention the plants, such as Belividere, which make the weak products. GM would also wind up with more UAW workers, and more UAW pension obligations. And GM would wind up with Chrysler's dealer network, compounding the problem of having too many dealers making too little money.
But GM's management would have some business reason to want Chrysler, what would those reasons be? Here's my theory.
1) Minivans. GM got killed in the minivan segment, and this would put them back in the game.
2) Truck dominance. GM could kill off the separate Ram platform and sell a Ram based on the Silverado, taking the truck sales crown from Ford once and for all.
3) Jeep. Even though Jeep has been watered down somewhat by Chrysler's attempt to grow Jeep into small crossovers (Compass), it is still a strong brand.
But all of these strengths are in the light truck and SUV sector, precisely where GM is already too heavy. With the coming tightening of CAFE rules, what business case would there be for GM to acquire more trucks and SUVs?
The idea just doesn't make much sense to me, as the armchair CEO.
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Saturday, October 11, 2008
New Cars From Pontiac In 2009
It's been confirmed that Pontiac will be selling the G3 5-door hatchback in 2009. The vehicle is based on the Chevrolet Aveo5 (also known as the Daewoo Kalos in Korea). The sedan version of the G3 was sold in Mexico previously and also sold in Canada as a 5-door hatch that was called the G3 Wave.The G3 will be mechanically identical to the Aveo, using a 1.6 liter 4 cylinder engine along with a 4-speed automatic / 5-speed manual transmission. Features will include GM's OnStar system, AC, airbags, and more. The car also comes with standard fog lights and a hatch spoiler to improve the style of the car.
Although it is an economy hatchback, the G3 adds a different flavor to the Pontiac line of cars. Also, in 2009, Pontiac will have 4 cars with EPA highway fuel economy of over 30 mpg, making it a lot more competitive in today's car market. These vehicles include the G3, Vibe, G6 sedan, and the G5 coupe.
The price has not been determined as of yet.
The G6 nameplate was new when the sedan and coupe came out in 2005 (with the convertible following), but the G6 is ostensibly the sixth-generation version of the Grand Am line. The G6 is also available in hardtop convertible form. Trim levels start with the base sedan, fitted with a 2.4-liter four and a four- or six-speed automatic. The G6 GT comes in all three body styles-it's the only droptop trim-and has a 3.5-liter V-6 with a four-speed auto. The GT convertible can also be optioned up to a 3.9-liter V-6.
At the high end are the GXP sedan and coupe, with a 252-hp, 3.6-liter V-6 with variable valve timing. The GXP recalls the body-clad Pontiacs from days of yore, with a giant rear spoiler, large grille, and hood scoops inspired by the successful Pontiac GXP.R that races in the Grand-Am Rolex Sports Car Series. The look doesn't translate well to the street.
The Pontiac G6 is based on the same unibody platform as the Chevy Malibu, but the newer Malibu benefits from three additional years of development and a vastly better interior. By comparison, the G6 feels like a rental car, with cheap plastic coating the cabin.
A six-speed transmission is a new option for the 2.4-liter base car, and it results in an impressive 33-mpg EPA highway rating. Remote start is now standard on GT and GXP models.
We picked the G6 convertible first in a comparison test against the Ford Mustang and Chrysler Sebring, but it's worth noting that the trunk is all but unusable with the folding hardtop stowed. We're not huge fans of the aggressive styling of the GXP, but someone-somewhere-must love it. The GT lacks any driving thrills despite 221 horsepower. That leaves the base car, which has appeal in its lower sticker price and higher fuel economy. Our best recommendation, though, is to walk over to the Chevy dealership and look at the Malibu.Front, front side, and curtain airbags are standard on the sedan and coupe; the convertible makes do with front and front side bags. ABS and traction control are standard on the base and GT cars. Stability control is standard on the GT convertible and GXP models; the GT sedan and coupe get stability control as part of a $1590 Street Edition package.
Friday, October 10, 2008
Crash Barriers- Making Road Travel Safer for You
Crash barriers keep the vehicles from going off the road and steer them safely back on to the road. It wouldn’t be an exaggeration to say that their very presence can boost the confidence of a jittery driver on a mountain road.
Crash barriers can be classified on the basis of their design and implementation. Guardrail, wire rope safety barrier, crash cushions and high containment barrier are a few that can be seen on roadways. All the crash barriers work on a similar principle, they are designed to absorb the impact of the vehicle going off track and hence help it get on to the road again without letting it lose its balance.
At times, the crash barrier to be used on a roadway is determined by the kind of vehicle traffic the roadway gets. For example high containment barriers are put up on the roadways with a large traffic volume of heavy vehicles. Then, crash cushion is specifically designed to protect motorists from impacting the end of concrete barriers and toll plazas. Guardrail is the most commonly seen crash barrier but has a history of highest injury and fatality in a fixed object crash. This is where wire rope safety barrier scores over guard rail as it consists of wire ropes and is flexible.
Though the crash barriers prevent several accidents everyday, they sure don’t prevent all of them. There have been incidences of fatalities, which were mainly attributed to the design and material of the crash barriers. Most of the roadways get all types of automobiles and therefore it becomes difficult to decide on the height and strength of the crash barrier. For, a motorbike can slip under the barrier that’s meant to keep a car from going off track, while a big truck may trip well over the same barrier.As a step towards ensuring safe road travel, road safety products are first tested and then put up on roadways. The crash barriers are tested in accordance with the guidelines mentioned in National Cooperative Highway Research Program (NCHRP) Report 350, “Recommended Procedures for the Safety Performance Evaluation of Highway Features”.
These guidelines are based on the findings of continuous road safety researches and are subject to revision.
Wednesday, October 8, 2008
Guaranteed Auto Loan Now – Receive Your Car Finance Now
When it comes down to it in today's world not many people want to go out there not knowing exactly what the process encompasses when they are trying to buy themselves a car either for their own personal luxury or for them to get from place to place with. You really need to make sure that you have all the knowledge that goes with buying a car already in your head or else you risk ending up having to spend a lot more money then you should be in the first place. In order for you to make sure that you are going to get the best possible deal on a Guaranteed Auto Loan you are going to want to make sure that you get car finance before you ever walk into a car dealerships car lot.
A Car Finance Loans is simply a way for you to go about paying for the car that you are looking to purchase. You are going to take out a car loan from a financial lending company and bring it to the car dealership with you. The reason for going about doing this is because the moment that you bring your own Used Car Finance to a car dealership you are then considered what is known as any cash buyer in that you can buy the car pretty much out right from them just as if you are paying for it in cash in the first place. You can then you should car finance in order to either buy the car that you want from them or you can also use it to lease a car through them.
If you happen to have gone through the process of buying a car in your past then you more than likely know how a car salesman is going to work with you. The first thing that they would go about doing is checking your credit score through their third party financing company before they ever begin to negotiate on a fair price for the car that you are looking to purchase a car finance with you. The moment they go about doing this they are going to then offer you a supposedly special finance deals in any attempt to make you buy the car and finance it through their own third party financing car finance solutions. This is something that you are going to want to avoid like the plague and is going to end up making you pay a lot more money down the line in the future on the car that you desire simply because you did not take the time and energy to do all the research that is required before getting yourself a car finance that you need.
Irish Construction Insurance
One of the most interesting facts about the Irish Construction industry is that there is no legal requirement for a construction company to hold any from of construction insurance! In fact, the only insurance an Irish contractor is legally obliged to have is basic motor insurance on his/her motor vehicles!
Although there is no legal requirement under Irish law for a contractor to hold adequate Construction Insurance it is extremely important that adequate cover is in place.
One of the most important reasons is the high injury & mortality rate on Irish Construction sites. One major positive of the recent construction boom is the fatality per thousand ratio has fallen in recent years although it is still at an unacceptable level.
For example, in 2001 28% of workplace fatalities were Construction related and the Irish Construction industry is consistently second only to the Irish Agriculture& Forestry Industry.
As many primary contractors require their subcontractors to hold Construction Insurance the reality is that although Construction Insurance is not a legal requirement it is usually a prerequisite to obtaining work on the majority of the countries construction sites so the need for construction insurance is a necessity in everything but law!
Although Construction Insurance is quite a complex field the four main areas of cover are as follows:
• Public Liability Insurance
• Employers Liability Insurance
• Contractors All Risks
• Personal Accident
Public Liability Insurance
Public liability insurance [PL] provides cover in the event that the policyholder is sued by a third party who feels that they have suffered injury or loss as a result of the policyholders negligence (lack of care).
Consider the following examples where Public Liability Insurance will provide cover:
• You run a plumbing company. One day you are called to an office to sort out a problem in their kitchen. Accidentally, you burst a pipe, and flood the office. Your client then makes a claim against you for the damage to their carpet and computer systems which have been damaged by the water.
• You are a building contractor. While walking along scaffolding one of your men drops a piece of equipment which falls to the street, injuring a passing pedestrian. The pedestrian makes a claim against your firm.
Obviously these are very simplified examples and we haven’t discussed the complexities of Products Liability/Liability Law/Duty of Care etc however it should provide a basic understanding of Public Liability Insurance.
Employers Liability Insurance
Employers Liability Insurance [EL] provides cover if any of your employees suffer physical injury or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss. If they then decide to pursue you for compensation the insurer will pay the cost of the claim.
Consider the following examples where Employers Liability Insurance will provide cover:
• You run a carpentry company. One of your employees loses a finger while using a chop saw and decides to claim against you for his injury
• You are a scaffolding contractor and are erecting scaffolding around an apartment block. While erecting the scaffolding one of your employees falls and suffers severe bodily injury. He decides to claim against your firm.
Please note that Public & Employers Liability is offered ‘hand in hand’, that is when arranging construction insurance you will need to arrange both Public Liability & Employers Liability Insurance together [Also known as Combined Liability Insurance] as Employers Liability Insurance is not available on a ‘Stand Alone’ basis..
Contractors All Risks Insurance
Contractors All Risks insurance (also known as Contract Works insurance) is an insurance policy specially designed for builders and a number of other trades working at a contract site. Contractors All Risks insurance can include cover for contract works, own plant, hired-in plant and employee's tools. The main part of the contractors all risks insurance is the contract works section which provides cover for the property being worked on (e.g. new house, etc.). However, cover for the existing property is excluded (e.g. the existing structure when building an extension) and must continue to be insured under its own insurance cover.
Consider the following examples where Contractors All Risks Insurance will provide cover:
• You are a building contractor and are building a house for resale. So far you have spent €200,000 on materials and labour. The property catches fire and is destroyed before it has been completed. • You are groundwork’s contractor and are presently digging foundations for a new housing development. Naturally you leave your excavator on site until the contract is completed however one night your excavator is stolen.
Personal Accident Insurance
Personal Accident Insurance [Also known as Income Protection Insurance] is highly recommended for a sole traders, business partners and company directors as a combined liability policy does not cover any injury caused to a sole trader/business partner while it is extremely difficult for a company director to sue his/her own company. A policy can be tailored to your exact needs and policies include a tax free monthly benefit, a lump sum [capital benefit] and hospital cash.
Consider the following examples where Personal Accident Insurance will provide cover:
• You’re a self employed carpenter with no employees. You cut your hand and are unable to work for eight months. As you have Personal Accident cover you receive a tax free benefit of €1,500 after one month and continue to receive this amount until you return to work.
• Although Personal Accident/Income Protection insurance is no substitute for full time earnings it will provide you with an income if you are unable to earn and it will reduce your financial worries at a time when your recovery should be your number one priority.
Machinery & Plant Insurance
Machinery & Plant Insurance is normally arranged on a case by case basis and provides Accidental Damage Fire & Theft Cover on Machinery. This policy is normally taken by contractors who wish to cover a specific number of items.
Health & Safety Executive
In Ireland the HSE [Health & Safety Executive] have the ultimate authority over Construction Sites and have the ability to close a site if they feel it is a safety hazard. Their primary initiative is the ‘Safe Pass’ – a one day site safety training programme.
Who needs to do Safe Pass awareness training?
Safe Pass is a one-day safety awareness programme aimed at general construction workers, craft workers and "on site" security personnel in the construction industry. The aims of the programme are to:
• raise the standard of safety awareness in the construction industry
• ensure that site personnel after completing the one day awareness programme can make a positive contribution to the prevention of accidents and ill health while working on the site
• maintain a register of personnel who have received training
• provide participants with a FAS Safe Pass registration card, indicating that the holder has attended a formal course in health and safety awareness
Under the Safety Health and Welfare at Work (Construction) Regulations 2006 Safe Pass / Safety Awareness Programmes applies to -
(a) craft and general construction workers,
(b) persons undertaking on-site security work, and
(c) persons or classes of persons as may be prescribed by the Minister.
For more information on Irish Site Safety please visit the website of the Health & Safety Authority www.hsa.ie while for more information relating to Irish Construction Insurance please visit the website of Keystone Insurance www.keystone.ie, Ireland’s premier supplier of Construction Insurance
Although there is no legal requirement under Irish law for a contractor to hold adequate Construction Insurance it is extremely important that adequate cover is in place.
One of the most important reasons is the high injury & mortality rate on Irish Construction sites. One major positive of the recent construction boom is the fatality per thousand ratio has fallen in recent years although it is still at an unacceptable level.
For example, in 2001 28% of workplace fatalities were Construction related and the Irish Construction industry is consistently second only to the Irish Agriculture& Forestry Industry.
As many primary contractors require their subcontractors to hold Construction Insurance the reality is that although Construction Insurance is not a legal requirement it is usually a prerequisite to obtaining work on the majority of the countries construction sites so the need for construction insurance is a necessity in everything but law!
Although Construction Insurance is quite a complex field the four main areas of cover are as follows:
• Public Liability Insurance
• Employers Liability Insurance
• Contractors All Risks
• Personal Accident
Public Liability Insurance
Public liability insurance [PL] provides cover in the event that the policyholder is sued by a third party who feels that they have suffered injury or loss as a result of the policyholders negligence (lack of care).
Consider the following examples where Public Liability Insurance will provide cover:
• You run a plumbing company. One day you are called to an office to sort out a problem in their kitchen. Accidentally, you burst a pipe, and flood the office. Your client then makes a claim against you for the damage to their carpet and computer systems which have been damaged by the water.
• You are a building contractor. While walking along scaffolding one of your men drops a piece of equipment which falls to the street, injuring a passing pedestrian. The pedestrian makes a claim against your firm.
Obviously these are very simplified examples and we haven’t discussed the complexities of Products Liability/Liability Law/Duty of Care etc however it should provide a basic understanding of Public Liability Insurance.
Employers Liability Insurance
Employers Liability Insurance [EL] provides cover if any of your employees suffer physical injury or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss. If they then decide to pursue you for compensation the insurer will pay the cost of the claim.
Consider the following examples where Employers Liability Insurance will provide cover:
• You run a carpentry company. One of your employees loses a finger while using a chop saw and decides to claim against you for his injury
• You are a scaffolding contractor and are erecting scaffolding around an apartment block. While erecting the scaffolding one of your employees falls and suffers severe bodily injury. He decides to claim against your firm.
Please note that Public & Employers Liability is offered ‘hand in hand’, that is when arranging construction insurance you will need to arrange both Public Liability & Employers Liability Insurance together [Also known as Combined Liability Insurance] as Employers Liability Insurance is not available on a ‘Stand Alone’ basis..
Contractors All Risks Insurance
Contractors All Risks insurance (also known as Contract Works insurance) is an insurance policy specially designed for builders and a number of other trades working at a contract site. Contractors All Risks insurance can include cover for contract works, own plant, hired-in plant and employee's tools. The main part of the contractors all risks insurance is the contract works section which provides cover for the property being worked on (e.g. new house, etc.). However, cover for the existing property is excluded (e.g. the existing structure when building an extension) and must continue to be insured under its own insurance cover.
Consider the following examples where Contractors All Risks Insurance will provide cover:
• You are a building contractor and are building a house for resale. So far you have spent €200,000 on materials and labour. The property catches fire and is destroyed before it has been completed. • You are groundwork’s contractor and are presently digging foundations for a new housing development. Naturally you leave your excavator on site until the contract is completed however one night your excavator is stolen.
Personal Accident Insurance
Personal Accident Insurance [Also known as Income Protection Insurance] is highly recommended for a sole traders, business partners and company directors as a combined liability policy does not cover any injury caused to a sole trader/business partner while it is extremely difficult for a company director to sue his/her own company. A policy can be tailored to your exact needs and policies include a tax free monthly benefit, a lump sum [capital benefit] and hospital cash.
Consider the following examples where Personal Accident Insurance will provide cover:
• You’re a self employed carpenter with no employees. You cut your hand and are unable to work for eight months. As you have Personal Accident cover you receive a tax free benefit of €1,500 after one month and continue to receive this amount until you return to work.
• Although Personal Accident/Income Protection insurance is no substitute for full time earnings it will provide you with an income if you are unable to earn and it will reduce your financial worries at a time when your recovery should be your number one priority.
Machinery & Plant Insurance
Machinery & Plant Insurance is normally arranged on a case by case basis and provides Accidental Damage Fire & Theft Cover on Machinery. This policy is normally taken by contractors who wish to cover a specific number of items.
Health & Safety Executive
In Ireland the HSE [Health & Safety Executive] have the ultimate authority over Construction Sites and have the ability to close a site if they feel it is a safety hazard. Their primary initiative is the ‘Safe Pass’ – a one day site safety training programme.
Who needs to do Safe Pass awareness training?
Safe Pass is a one-day safety awareness programme aimed at general construction workers, craft workers and "on site" security personnel in the construction industry. The aims of the programme are to:
• raise the standard of safety awareness in the construction industry
• ensure that site personnel after completing the one day awareness programme can make a positive contribution to the prevention of accidents and ill health while working on the site
• maintain a register of personnel who have received training
• provide participants with a FAS Safe Pass registration card, indicating that the holder has attended a formal course in health and safety awareness
Under the Safety Health and Welfare at Work (Construction) Regulations 2006 Safe Pass / Safety Awareness Programmes applies to -
(a) craft and general construction workers,
(b) persons undertaking on-site security work, and
(c) persons or classes of persons as may be prescribed by the Minister.
For more information on Irish Site Safety please visit the website of the Health & Safety Authority www.hsa.ie while for more information relating to Irish Construction Insurance please visit the website of Keystone Insurance www.keystone.ie, Ireland’s premier supplier of Construction Insurance
Tuesday, October 7, 2008
Chrysler Hijacks "Volt" Keyword
Heh, I noticed a little bit of web advertising sneakiness on the part of Chrysler. On my own blog, no less. Take a look at the Google Adwords panel in this screen capture.
Sunday, October 5, 2008
The New eBay Motors Scam
There's a new scam going around, which is a slightly more sophisticated variation of a fake escrow trick.
Scammers post for sale ads in classified services such as Craigslist or AutoTrader, with a too-good-to-be-true price. Here is one example I found: 2005 Honda Accord.
If you respond, they send you a fake invoice from eBay Motors, along with a fake "Vehicle Purchase Protection" service email.
Here are examples, cick for larger view:
It isn't a perfect fake, but it may be convincing to someone who doesn't know much about eBay. The real eBay Motors does not operate an escrow service, and they explicitly don't allow MoneyGram payments! Also note the fake eBay email address, "ebay@support-center-vpp.net".
The scammers want you to send a non-traceable payment (MoneyGram, Western Union) to a "payment agent", who is probably some idiot who signed up for a "work at home" job "processing internet payments". That guy cashes the payment, and forwards it on to the scammers.
I tried to make contact with the scammer, but he was being very careful--he wouldn't give me a phone number. He stopped respoding to my emails after I pointed out that eBay doesn't allow Moneygram payments, and asked if he could take a PayPal payment instead.
Update: I am starting to see reports of this scam spreading out into Canada and the UK, using other services such as Moneybookers. The rules are the same. If the price is too good to be true (way below market) or the guy wants you to buy a car without being able to look at it, it's not real.
Scammers post for sale ads in classified services such as Craigslist or AutoTrader, with a too-good-to-be-true price. Here is one example I found: 2005 Honda Accord.
"Email me for more details : brendapharell@ymail.com .The car is in a perfect cosmetic and engine conditions, and meticulously maintained. No damage, no scratches or dents, no hidden defects, never been into accidents and it is as advertised. Email me for more pictures at : brendapharell@ymail.com . I cannot get in touch with you if you use the "Email this Seller" option because my email address on autotrader is full so please e-mail me directly at: brendapharell@ymail.com"The car is a real car--in the sense that they borrowed some photos and a VIN from somewhere, so if you run it through CarFax it will check out as a real vehicle.
If you respond, they send you a fake invoice from eBay Motors, along with a fake "Vehicle Purchase Protection" service email.
Here are examples, cick for larger view:
It isn't a perfect fake, but it may be convincing to someone who doesn't know much about eBay. The real eBay Motors does not operate an escrow service, and they explicitly don't allow MoneyGram payments! Also note the fake eBay email address, "ebay@support-center-vpp.net".The scammers want you to send a non-traceable payment (MoneyGram, Western Union) to a "payment agent", who is probably some idiot who signed up for a "work at home" job "processing internet payments". That guy cashes the payment, and forwards it on to the scammers.
I tried to make contact with the scammer, but he was being very careful--he wouldn't give me a phone number. He stopped respoding to my emails after I pointed out that eBay doesn't allow Moneygram payments, and asked if he could take a PayPal payment instead.
Update: I am starting to see reports of this scam spreading out into Canada and the UK, using other services such as Moneybookers. The rules are the same. If the price is too good to be true (way below market) or the guy wants you to buy a car without being able to look at it, it's not real.
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