General Motors

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General Motors' latest shocker: $38 million loss in 2007

How’s it possible to loss $38.7 million in a year? Not even General Motors is like sure exactly how it happened. But the world’s largest automaker has annnounced that’s the amount it lost in 2007. As a result, GM will again offer a new round of buyback offers to 74,000 hourly workers, all of whom are represented by the United Auto Workers. GM said the loss largely was due to a third-quarter charge related to unused tax credits. The 2007 loss topped GM’s previous record in 1992, when the company lost $23.4 billion because of a change in health care accounting, according to Standard & Poor’s Compustat. Excluding the tax charge and other special items, GM lost $23 million, or

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The Future Is Near: GM Talks Driverless Cars

Have car, no driver required. General Motors Corp., has announced cars that drive and park themselves could be ready for sale within 10 years. According to an Associated Press article, much of the technology already exists that will allow the vehicles to operate using radar-based cruise control to lane-changing warning devices. Rick Wagoneer, GM’s chief executive, discussed driverless cars as part of his speech at the Consumer Electronics Show in Las Vegas. In a recent interview with AP, Larry Burns, GM’s vice president for research and development, said “This is not science fiction.” The most significant obstacles facing the vehicles could be human rather than technical: government regulation, liability laws, privacy concerns and people’s passion for the automobile and the

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Car Gadgets: All I Want Is My OnStar And XM Radio

I’ve been reviewing cars for about five years. And if I’ve learned anything after driving more than 200 vehicles, it’s that every manufacturer has a terminology “spin” for what it believes is its revolutionary automotive technology. Some of the parlance is clever and represents great innovation; Other descriptions are shameless, meaningless hype. Regardless, with the admission that I’m a minimalist, I think it’s fair to say some manufacturers’ equipment offerings have reached critical mass or perhaps exceeded it. In short, some cars have too much stuff, some of which just doesn’t work well. Hypersensitive electronic sensors, rear view navigation systems with blurry visual quality and inefficient braking systems all come to mind. Yet, two items stand out among as the

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Mercury Milan, 2006: The Weekly Driver Car Review

With midsize monoliths like the Honda Accord and Toyota Camry dominating the market for years, what do other manufacturers view as success with their respective offerings in the same class? It’s a crowded segment of the car market, for sure. Fourteen manufacturers are represented in the midsize class and an additional 10 are featured in the premium midsize category. Mercury hasn’t been a serious major player in either category. But like the Hyundai Sonata‘s genesis a few years ago, the Milan and its close relative, the Ford Fusion, have a lot to offer against the dominating duo at a substantially lower price. The Milan replaced the Sable in 2006 and it gives Mercury its first modern stylish sedan. It’s a

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