The Center for Media and Democracy (CMD) has identified 77 television stations that aired Video News Releases, over a period of ten months, without informing their viewers that the reports were actually sponsored content. The identified 77 stations reach more than half of the U.S. population. At least one-third of the time, it has been [...]
There has been a steep decline in showroom vehicle sales as General Motors and DaimlerChrysler put brakes across auto sales across canada in July. According to the industry statistics released yesterday, the sales and leases of new cars and light trucks registered a spike of more than 13,000 units to 141,649 in July as compared [...]
US carmaker Ford has admitted that it plans to borrow $18 billion to get back on its feet from its rapidly worsening financial condition. What’s more, Ford has also admitted that it was pawning its US plants as collateral for the latest loans. Ford said that it needed the money to help pay for the [...]
The striking workers at General Motors’ Opel plant, Antwerp are to decide through a referendum on Thursday whether to agree to an offer to terminate their strike. Workers stopped production after GM Europe, the subsidiary of the US based GM had announced not to construct the next-generation model of Astra, presently the top car of [...]
General Motors Corp. discloses its new joint venture agreement with Penske Corp. in which it’s acquiring 50 percent stake in VM Motori, an Italian maker of diesel engines. GM asserts that the joint venture will develop a new 2.9 liter, V-6 turbo diesel engine that will launch in the Cadillac CTS in Europe in 2009 [...]
General Motors reported a quarterly profit that conquered Wall Street estimates as it benefited from cost-cutting and growing sales overseas. In the quarter, GM earned $891 million, or $1.56 a share, compared to the massive loss of $3.4 billion, or $5.98 a year before. Detroit-based GM almost broke even in North America, but profit boosted [...]
Renowned carmaker BMW announced Friday that it is planning to discharge thousands of workers as a step to combat increasing costs and rivalry from its competitors such as Mercedes. This action would mark the company’s first noteworthy layoff in a span of 10 years. BMW spokesman, Bill McAndrews declined to disclose the number of jobs [...]
