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Automotive

  • April 10, 2014

    UAW Subpoenas Tenn. Pols In VW Union Vote Fight

    The United Auto Workers issued subpoenas Wednesday to a slew of Tennessee politicians, including Republican U.S. Sen. Bob Corker and Gov. Bill Haslam, in its effort to get the National Labor Relations Board to order a new representation vote at Volkswagen AG's Chattanooga plant.

  • April 10, 2014

    Treasury Nets $2.4B In Ally Financial IPO

    The U.S. Department of the Treasury on Thursday said it sold 95 million shares of auto lender Ally Financial Inc. at $25 a share, netting $2.4 billion from the company’s initial public offering in the latest development in the agency’s unwinding of the Troubled Asset Relief Program.

  • April 10, 2014

    GM Ups Recall Costs To $1.3B, Cites New Defect In 2.2M Cars

    General Motors Co. said Thursday that it is expanding its recall of some 2.2 million cars to cover the replacement of ignition lock cylinders, citing a new defect that can allow the key to slip out while the engine is running, which will bring up the automaker's expected first-quarter charge to $1.3 billion.

  • April 10, 2014

    Ford, Mazda Push For Sanctions Against Rydex In Patent Suit

    Ford Motor Co. and Mazda Motor of America Inc. on Wednesday asked the Federal Circuit to sanction Rydex Ltd. in its infringement suit over a fuel delivery patent, claiming Rydex is playing a “shell game” with its arguments before the court.

  • April 10, 2014

    Chrysler Hit With Suit Over Dodge Ram 'Death Wobble'

    Chrysler Group LLC was hit Wednesday with a proposed class action lawsuit alleging the company covered up a defect in some of its Dodge Ram pickup trucks that could cause them to lose steering control and shimmy excessively.

  • April 10, 2014

    USA Truck Board Drops Poison Pill After Stock Boost

    USA Truck Inc.’s board of directors unanimously agreed to end a shareholder rights agreement adopted in November 2012 to ward off unsolicited takeover bids as the struggling company focused on a turnaround, the Arizona-based trucking service said Thursday.

  • April 10, 2014

    US, Japan Still Split On Ag, Autos As Obama Visit Looms

    U.S. Trade Representative Michael Froman said on Thursday that the U.S. still faces “considerable differences” with Japan on resolving issues related to market access for agricultural products and cars in the Trans-Pacific Partnership talks just weeks ahead of a state visit from President Barack Obama.

  • April 10, 2014

    Payroll Processor ADP To Spin Off Dealer Services Business

    New Jersey-based payroll processing company Automatic Data Processing Inc. said Thursday that it will split off its dealer services unit, which serves the automotive industry, into an independent publicly traded company so that it can focus on growing its core employer-focused business.

  • April 9, 2014

    5 Things GM Needs To Do Right Now

    As litigation mounts in response to General Motors’ deadly ignition-switch defect, the automaker needs to weigh its options on how to address a potential return to bankruptcy, how to work with its insurance carriers and how to quell its public relations fiasco, experts say.

  • April 9, 2014

    Revstone Unsecured Creditors Want PBGC Off Committee

    Unsecured creditors in auto parts conglomerate Revstone Industries LLC's case told the Delaware bankruptcy court Wednesday that they want the Pension Benefit Guaranty Corp. kicked off the creditors committee over a settlement the agency struck with the debtor to resolve $95 million in pension-related claims.

  • April 9, 2014

    Taxi App Cos. Must Cover Drivers, Insurance Watchdog Says

    Mobile applications like Uber and Lyft that connect passengers seeking rides to paid drivers using personal vehicles are creating a risk of uninsured accident losses and should be forced to carry additional coverage, California’s insurance regulator said Wednesday.

  • April 9, 2014

    AutoNation Workers' Wage Suit Forced Into Arbitration

    A California federal judge on Tuesday approved car dealership owner AutoNation Inc.’s request to force arbitration with a putative class of service technicians, ruling that the plaintiffs had not shown AutoNation’s arbitration agreements were unconscionable enough to warrant their invalidation.

  • April 9, 2014

    VW Stops Sale Of 4 Models As NHTSA OKs Separate Recall

    Volkswagen Group of America Inc. confirmed Wednesday that it is stopping the sale of approximately 25,000 Jetta, Beetle, Beetle Convertible and Passat vehicles due to a possible transmission oil cooler leak, shortly after the National Highway Traffic Safety Administration acknowledged its separate recall of 150,000 Passats.

  • April 9, 2014

    Chrysler Faces Suit Over Dodge Durango Fuel Tank Defect

    Chrysler Group LLC was hit with a suit Wednesday in Texas federal court alleging its Dodge Durango line of SUVs do not have skid plates or other methods to protect the fuel tank from undercarriage strikes, which can cause injury to drivers.

  • April 9, 2014

    Sonic Automotive Denied Coverage For Hidden Fee Suits

    An Ohio federal judge on Tuesday let two insurers off the hook in automobile retailer Sonic Automotive Inc.'s suit seeking coverage for underlying actions alleging it misled customers into paying additional fees, finding that Sonic's deception was intentional.

  • April 9, 2014

    Toyota Calls Back 6M Vehicles For Airbag, Seat Dangers

    Toyota Motor Corp. on Wednesday issued two recalls covering 6.4 million vehicles worldwide over cable assemblies that can deactivate driver’s side airbags and weak rail springs that can allow seats to shift.

  • April 8, 2014

    1st Purported Lemon-Law Suit Against Tesla Filed In Wis.

    A Milwaukee man filed the first-ever lemon law case against Tesla Motors Inc., alleging Monday that his Model S is defective and has spent more than a month in the shop, according to a video posted on YouTube by attorney Vince Megna.

  • April 8, 2014

    GM Faces Another Suit Over Bad Ignition Switch In Texas

    General Motors LLC was slapped with a suit in Texas state court Wednesday by a woman who says she sustained massive injuries in a car accident caused by an ignition switch defect the automaker allegedly concealed.

  • April 8, 2014

    Detroit Retirees, Berkshire Hathaway Buck Bankruptcy Plan

    Detroit retirees, union members, a Berkshire Hathaway Inc. unit and at least a dozen others objected to the city’s plan to exit from bankruptcy, with several objections sliding in just under the April 7 deadline, according to court records on Tuesday.

  • April 8, 2014

    GM Hit With Daily Fines For Not Answering Recall Questions

    Federal regulators are hitting General Motors LLC with a $7,000 daily fine for not providing enough information over a deadly ignition switch problem that recently resulted in recalls of 2.4 million vehicles, the U.S. Department of Transportation said Tuesday.