Thursday, October 1, 2009
Toyota To Recall 3.8 Million Vehicles
Saturday, July 25, 2009
THE OFFICIAL CASH FOR CLUNKERS WEBSITE
As the official launch of the Cash for Clunkers program is rolled out, please be aware that potentially you could land on a website that may look official, it may be a site that is looking to extract identity information from you or extract money from you. That is why I want to provide you with the official U.S. Government site that will give you all of the info that you should need.
Or visit you local New Car Dealer, who should be well equipped to answer your questions.
Monday, July 13, 2009
Steve Rattner Is Resigning As The US Task Force Chief
Monday, June 22, 2009
Big Money Coming To A Dealer Near You, 'Cash For Guzzlers" Bill Passes The Senate
The program has been modeled after similar programs in Germany, France and China, which saw huge sales increases when the programs where released in those respective countries.
Tuesday, June 9, 2009
The Former Head Of AT&T is Poised To Become The Next Chairman Of General Motors
Monday, June 8, 2009
Hold On Wait A Minute, Supreme Court Issues A Stay, And Delays Chrysler/Fiat Deal...
Ruth Bader Ginsberg, interrupted the U.S. Government, the new Chrysler and Fiat S.p.A. plans to emerge from bankruptcy court with a fresh start.
The stay issued a few minutes before the deadline, has momentarily delayed the merging of the new Chrysler and Fiat and may derail the deal put together by the Obama Administration to bring new life to the ailing Chrysler.
The Indiana State Pension Fund and other parties requested that the U.S. Supreme Court to review the matter This Sunday and requested that the court rule to stop the sale while the group seeks to challenge the sale of the "old' Chrysler" as the pension group believes they are due far more that what they are receiving from the proceeds of the sale as it is currently structured.
Among the various challenges include, the use of federal bailout funds being used illegally, that the sale unlawfully rewards unsecured creditors ahead of secured creditors which amounts to an illegal reorganization plan.
More to come...
Enjoy Today!
Kevin Kimbrough
That Car Guy
Thursday, June 4, 2009
What Is Going On With GM Forcing Dealers To Sign Participation Agreements Or Face Termination... What's Next?
As the free enterprise system is turned upside down with the financial meltdown, mortgage crisis, bankruptcies by major corporations, including General Motors, companies across America are being forced into making major cut backs in employees, expenditures and deal with a less than stellar economic forecast in the foreseeable future.
Particularly as General Motors has gone to Washington D.C. with hat in hand and lawmakers and the current administration willfully opening up the taxpayers piggy banks, GM has taken the opportunity through the bankruptcy process to force the hand in it's favor away from many of it's stakeholders.
One of the principle stakeholders that the company has no investment in and cost the company virtually nothing as GM cost shifts at unprecedented rates, is it's dealer body. The remaining dealer body that has weathered tremendous economic conditions over the 100 years of GM existence and persevered through great adversity is now being forced to sign "Participation Agreements" or face franchise termination.
These "Participation Agreements" are requiring the remaining dealers to comply with company upgrade and program requirements that the company requires during the bankruptcy process. The remaining dealers who have received the letters have until mid-June to sign and return the agreements and if the dealers do not comply with the request, General Motors will terminate the existing franchise agreement.
To the outside world this may seem simply as a company requesting an authorized franchisee to do what is in the best interest of the company and compliance should not be questioned. However in the world of auto dealer and auto manufacturing relationships, this becomes a another tool in which a major corporation with the power and might of GM (now backed by the U.S. Government), has a new tool to impose it's will on an independent businessman or woman without regard to market conditions or an assessment of need in a particular dealerships sales area.
The heavy hand of GM dictates need, no questions asked, do this or else seems to be the new corporate by line towards factory and dealer relations. It truly is a sad day for dealers, the individuals, cities and towns that depend on these dealers now have to spend excess monies to fund projects for GM in another cost shifting move to comply with whatever the factory wants, now the independent dealer must do, or else.
The corporate position is firm, Mark LaNeve said in a company statement, "GM expects them (the dealers) to perform well on customer satisfaction scores and sales, have their facilities up to speed and not have any non-GM brands in their showrooms". Dealers should and will expect tough requirements moving forward through this process, I ask, individual markets have significantly different market expectations and no one is giving dealers any bailout or any monies at all. The remaining dealers, many of them are in perilous financial conditions currently and will get even worse if the sales climate does not improve soon.
The big twist in all of this, the biggest glaring clause in the agreement states that the dealer agrees that they will not sue the manufacturer before the dealers franchise agreement expires in 2010.
Our free market system, isn't it wonderful.
Enjoy Today!
That Car Guy
Monday, June 1, 2009
Clark Howard Is Wrong About Automobile Distribution Cost...

General Motors Bankrupt! U.S. Government Expected To Take A 60 Percent Ownership Stake
As expected GM filed for federal bankruptcy protection today, in what most analyst agree will be an organized structured bankruptcy process. The federal government is to take a 60 percent ownership stake while the Canadian Government takes a 12.5 percent stake, the UAW has a 17.5 percent stake and bondholders will have a 10 percent ownership stake.
What should be the largest industrial bankruptcy in U.S. history should pave the way for a new GM if the Obama administration plan moves through federal court smoothly as expected.
A Chief Restructuring Officer has been appointed, Al Koch Managing Director of AlixPartners, who steered Kmart through it's Chapter 11 reorganization. Mr. Koch is expected to be the point person in dismantling the "Old" GM (parts, assets, etc.) into the "New" GM, he is also expected to steer the management team assembled to close the "Old" GM when the company emerges from bankruptcy.
The bankruptcy will effect many constituents, including auto warranties (the federal government is currently backing the warranties), retirees pensions, auto suppliers, auto dealerships, shareholders (expect nothing), employee 401k plans and others.
The company should emerge much leaner which should include Chevrolet, Buick, Cadillac and GMC, the companies other brands are expected to be sold off and if buyers can't be found they will be shuttered.
Once the icon of American Industry and the world, GM is far from it's glory days, can it survive and thrive once again, I believe it will, to survive in this current economic crisis, it had to become smaller and leaner and this bankruptcy filing was the only way to get all of it's stakeholders to agree on the restructuring necessary, which includes the Federal government assistance. It would have never survived without the U.S. Government intervening on it's behalf and many more companies would have been brought down with it, including Ford Motor Company.
Enjoy Today!
That Car Guy
Thursday, May 21, 2009
Company Says That It Can Produce A 100 mpg Hummer H3, Reality Or Fiction?
The Auto Dealers Are Not The Problem! The Aftermath Of Chrysler and GM closing Dealerships Across America...

Monday, May 4, 2009
A Question For That Car Guy...
ANSWER- The issue behind natural gas (CNG) is the infrastructure, much like electricity and matching the refueling with demands when people are traveling or general commuting. The money, time and effort that it cost to build the necessary infrastructure is enormous and no one has been able to accurately amortize the timeline when it will be profitable based on the current low demand and lack of real interest. South America clearly has resolved the infrastructure issue and demand for CNG and biofuels as the governments adapted policies quite some time ago.
That Car Guy
Thursday, April 30, 2009
BANKRUPT! CHRYSLER CORPORATION IS FILING FOR BANKRUPTCY PROTECTION!
That Car Guy
Wednesday, April 1, 2009
Loose your job, GM and Ford say no problem, we’ll make your car payment...

Hyundai Motor Company has had a similar program since January, 2009 and states that its sales have risen 4.9%, its program initially stated that customers could return the vehicle without damaging the customer’s credit. It has since made a temporary change that states that Hyundai will make up to three months of car payments (leases and loans).
General Motors program called GM Total Confidence Program will provide payment protection for two years. The program will make nine vehicle payments of up to $500.00 a month for its new vehicle purchasers on vehicles purchased by April 30, 2009.
Ford Motor Company announced its Ford Advantage Plan that will make vehicle payments up to 12 months with a maximum payment amount of $700.00. Customers must purchase a vehicle by June 1, 2009 and the program will accept claims until December 31, 2009.
General Motors made an additional announcement regarding Trade-In protection to customers who sometimes end up owing more on a vehicle than its current value. GM said that it would provide limited trade-in protection on GM vehicles purchased with a finance contract up to six years and would further require that customer to be midway through the contract before the trade takes place. In a further major move GM began touting its 5 year/100,000 mile powertrain warranty as the “best coverage in the industry”.
General Motors is not stating that the government recently announced that it would back the warranties of its vehicles, should the company go into bankruptcy. Mark LaNeve, GM vice president of North America vehicles sales, service and marketing stated, “We’re not using the word government or using that level of detail” were just stating that the warranties are “fully backed”.
Ford is confident that the new program along with its current line of 0% financing offers on most of its vehicle line up will shrink sales declines in recent months as stated by John Felice, General Manager of Ford, Lincoln and Mercury. He went on to say that the current offer is low risk by Ford, which is buying insurance to cover potential payouts, he would not disclose the cost of the program but described it as nominal.
These programs are anticipated to bring confidence back into dealers’ showrooms and resuscitate life back into the ailing auto industry. GM and Chrysler have 60 and 30 days respectively to provide the Federal Government satisfactory plans to turn around its companies or face bankruptcy. The lifeline that they have lived on for the last few months has tightened considerably and is near being completely cut off.
The automakers immediately began touting the programs online and consumers should start to seem them in print and radio in the next couple of days. For complete details of these programs check the company websites and ask dealers for a complete copy of these programs so that consumers maintain any compliance issue.
Monday, March 30, 2009
Rick Wagoner Is Ushered Out The Door At General Motors... Gone, Outta Here, No More...
General Motors Chairman and CEO Rick Wagoner stepped down over the weekend as the United States Government mounted unprecedented pressure on the CEO and automaker that it's proposed turnaround plan did not go far enough in it's bid to restructure the automaker.
In what many view as a forced departure of the CEO by the Obama administration many view it as what may come of top CEO's who have received federal monies and who appear to not have clear ideas and plans on how the taxpayers will get a return on the Billions of dollars that have been provided to keep these failed companies afloat.
Rick Wagoner, 56 , who has run the company since 2000 and has worked for GM for 32 years issued a statement that he is stepping down immediately and Fritz Henderson will be come CEO. Fritz Henderson had been the company's Vice Chairman and COO. It is being reported that many of the GM board members will step down and new board members are expected to join the company board soon.
The Obama administration is showing some seriousness in making sweeping statements that it wants fundamental changes at many of these companies who have received federal bailout dollars. The American public has been quite vocal and angry about the continued flow of monies to troubled company's and are saying loudly enough is enough.
Wagoner gets credit for steering the company through some very troubled times and closed Oldsmobile and reduces GM's workforce from 177,000 people when he arrived to 92,000 today and among other cost cutting measures, However clearly the efforts were not enough, as the company has lost over $82 Billion dollars since 2005.
Enjoy Today!
That Car Guy
Tuesday, February 17, 2009
General Motors And Chrysler Are Back To Begging For More Money...






















