General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints» Read More
DETROIT— General Motors waited years to recall nearly 335,000 Saturn Ions for power steering failures despite getting thousands of consumer complaints and more than 30,000 warranty repair claims, according to government documents released Saturday.
DETROIT— Mazda is recalling 109,000 Tribute SUVs in cold-weather states to fix rusting frame parts. The recall covers SUVs from the 2001 through 2004 model years. The SUVs were originally sold or registered in 20 states and Washington, D.C., where salt is used to clear snow and ice from roads.
LANSING, Mich.— Michigan could receive nearly $2 million in federal block grants for specialty crops as a result of the U.S. farm bill. The U.S. Department of Agriculture says $66 million is available nationwide to state departments of agriculture for specialty crops.
NEW YORK— A federal judge on Thursday declined to toss out decade-old lawsuits that accuse IBM Corp. and Ford Motor Co. of supporting apartheid by letting their subsidiaries sell computers and cars to the South African government.
DETROIT, April 17- The federal judge overseeing Detroit's historic bankruptcy case has revived the idea of a regional water authority and also suggested the city may need court oversight after it emerges from bankruptcy.
That means some of Wall Street's largest hedge funds and private equity firms are largely escaping close scrutiny by the IRS, said Sen. "Auditing less than 1% of large partnership tax returns means the IRS is failing to audit the big money," said Levin, who chairs the Senate subcommittee on investigations.
FLINT, Mich.— An attorney representing the family of a 77- year-old Flint- area woman killed when her 2005 Toyota Camry slammed into a tree after alleged sudden acceleration confirms that a deal has been reached in a lawsuit against the carmaker.
DETROIT— General Motors says it sold 2.42 million cars and trucks in the first three months of the year, keeping it slightly ahead of Volkswagen in the global sales race. Sales leader Toyota has yet to release first quarter numbers but says it's on the way to selling 10.1 million vehicles this year.
DETROIT— A Texas federal judge has denied an emergency motion that would have forced General Motors to tell owners of more than 2 million recalled cars to stop driving them until the ignition switches are replaced. District Judge Nelva Gonzales Ramos issued her order Thursday in Corpus Christi.
The order by Judge Steven Rhodes comes after Detroit said in a court filing earlier this week that it had dropped the concept of a Great Lakes Water Authority from its plan to adjust $18 billion of debt and other obligations and exit from the biggest municipal bankruptcy in U.S. history.
WASHINGTON— Applications for U.S. unemployment benefits increased slightly last week to a seasonally adjusted 304,000. The four-week average for claims dipped to its lowest level since October 2007, two months before the Great Recession began. California: Down 13,982, due to fewer layoffs in services. Iowa: Down 1,266, due to fewer layoffs in manufacturing.
FORT LAUDERDALE, Fla.— A late-March surge in car and truck buying helped dealership group AutoNation Inc. overcome subzero temperatures and waves of winter storms earlier in the year to post nearly a 15 percent increase in first-quarter net income.
BEIJING, April 17- Ford Motor Co's premium brand Lincoln may be late to China's luxury boom, but its top executives say the upscale car market still has plenty of steam left for growth to make its debut later this year worthwhile.
DETROIT— Looking years ahead, the judge overseeing Detroit's bankruptcy said Thursday he wants assurances from the mayor and other elected leaders that they'll follow a final plan that likely cuts pensions, sheds debt and plows millions into better services.
April 17- The U.S. Treasury Department is forming a new unit to monitor the municipal bond market, the Wall Street Journal reported, citing a Treasury official.
April 16- General Motors Co said on Wednesday that it has set up a new fast-track ordering system to accelerate the shipment of parts needed to fix an ignition switch defect that has forced the automaker to recall 2.6 million of its compact cars.
MONROE, Mich.— La-Z-Boy Inc. is closing two facilities and eliminating 100 jobs in North Carolina as part of a larger restructuring of its business. It will move warehouse and repair functions from those sites to another North Carolina plant, in Hudson.
April 16- The board of Detroit's General Retirement System on Wednesday approved economic terms of a settlement with the city that include cuts to pension benefits, putting in place another key component of Detroit's effort to exit bankruptcy by October.
TOYOTA CITY, Japan/ IRVINE, Calif., April 17- In 1997, Toyota caught its competitors by surprise with the revolutionary Prius, the first commercially successful gasoline-electric hybrid car. Toyota Motor Corp will next year launch a hydrogen-powered car in the United States, Japan and Europe.
BEIJING, April 17- Japanese carmaker Nissan Motor Co is going for a facelift to stand out from the crowd. In an increasingly competitive global market- in China alone there are some 80 automakers battling for sales- Nissan plans to put a V-shaped front grille design on most of its models to give itself a "distinct, unified face", says global design chief Shiro Nakamura.