Some Of The Worst People In Sports Are Trying To Buy Out Formula One

Strange as it may seem to read it, flop-haired sinister Andy Warhol impersonator Bernie Ecclestone doesn’t actually own Formula One. The group with the biggest stake in the biggest spectacle of motorsports actually belongs to private equity firm CVC Capital Partners. And word on the street is they want out – and… » 6/24/15 12:41pm 6/24/15 12:41pm

Spyker Might Be Getting Evicted, But Everything's Just Fine, CEO Says

Spyker, the Dutch car company that arguably builds some of the prettiest automobiles in the world today, is not going bankrupt, according to company CEO Victor Muller. That comes on the heels of a Dutch court order to either pay the company's landlord, or get evicted from the factory. Yeesh. » 11/05/14 12:24pm 11/05/14 12:24pm

Tesla Nixes Battery Deal, to Focus on Not Building Cars

Tesla Motors' plans to sell battery packs to Norwegian company Think Global has been put on hold as the company plans to focus on shipping cars to the 600 people who paid a lot of money and still have nothing to drive (except a fleet of other cars, presuming they're very wealthy). It was hoped this deal would help… » 11/01/07 1:00pm 11/01/07 1:00pm

Porsche's "Geyser 'o Cash" Continues Unabated

At current rates of return, Porsche will own the auto industry by 2112 — just in time for President Geddy Lee's Cryogenically Frozen Head to rename Detroit "Stuttgart West." Led by strong sales of the 911 range, though bolstered by excellent showings from the new Cayman and Boxster, Porsche's after-tax profits hit… » 12/06/06 9:28am 12/06/06 9:28am

Kiss and Say Sayonara: GM, Toyota Tech Alliance to End

Edmunds Inside Line is reporting a technology alliance beween Toyota and GM is set to end next week, and that the two will indeed part as rivals for the position of #1 automaker. The deal, which was struck in 1999, has produced... wait for it... nothing. Toyota reportedly couldn't deal with GM's constant whining,… » 2/24/06 7:20am 2/24/06 7:20am

GM Losses top $8.6 Billion for 2005, Not the Worst Year Ever

Despite losses totaling (please sit down, Mr. Wagoner) $8.6 billion, 2005 still wasn't GM's worst year on record. In 1992, GM took a $23.5 billion hit brought on primarily by a change in accounting procedures that forced the company to include retiree health-care costs in earnings. At the time, Rick Wagoner, then the… » 1/27/06 8:28am 1/27/06 8:28am

Consumers on GM's Total Value Promise, "WTF?"

Exactly. We also were wondering what GM means by its "Total Value Promise," a bit of marketing detritus likely left flaccid by an epic journey through a labyrinthine corporate approval path. According to GM execs, it's supposed to signify a holistic approach to selling GM cars that involves irresistible new vehicles… » 12/02/05 9:17am 12/02/05 9:17am

It Could Have Been Worse: Fleet Sales Made October Less Bleak for…

According to AutoWeek, fleet sales appeared to fill in some of the empty, plague-infested spaces for domestic carmakers during October's sales meltdown. Among the Big Three, sales to commercial fleets increased that month — rising to one-third of sales for GM and Ford (40% for Chrysler) from around a quarter in the… » 11/15/05 8:38am 11/15/05 8:38am