Transportation equipment industry
Automakers General Motors (GM) and Ford will share an equity stake worth $1.23 billion in Commerce One as part of its technology deal with Covisint, an internet vehicle parts exchange formed by several carmakers, including GM, Ford, DaimlerChrysler, Nissan, and Renault. The agreement will see Commerce One provide the
Transportation equipment industry
Mack-Cali Realty Corporation, a fully-integrated real estate investment trust, has announced the signing of six leases totaling over 260,000 square feet at its New Jersey office properties. The tenants include Ford Motor Company, Avaya, Inc., Aspen Technology, Inc., Allstate Insurance, Lucent Technologies, Inc., and GEAC Computers, Inc. These leases
Transportation equipment industry
The family of Trina Thurman Adams has reached an out-of-court settlement in their $60 million wrongful death lawsuit against Ford Motor Co. and Bridgestone/Firestone Inc. The lawsuit claimed that the 1994 Ford Explorer, which was equipped with Firestone tires, was defective and in an unreasonably dangerous condition when sold.
Transportation equipment industry
The American auto market experienced a slowdown in November, with US light vehicle sales falling to the slowest pace in 18 months. Land Rover and Jaguar, two import brands owned by Ford, reported a record November for US car sales, while their parent company, Ford, saw a sales slump of
Transportation equipment industry
Juergen Schrempp, the chairman of DaimlerChrysler AG, is facing a significant shareholder revolt led by Kirk Kerkorian, the company's third-largest shareholder, who filed a lawsuit demanding $9 billion in damages and the disentangling of the 1998 takeover. The lawsuit also names Hilmar Kopper, chairman of the supervisory boards
Transportation equipment industry
DaimlerChrysler AG's biggest shareholder, billionaire Kirk Kerkorian, has filed an $8 billion lawsuit against the company, seeking an end to the tumultuous merger between Daimler-Benz AG and Chrysler Corp. The lawsuit comes as the company struggles to buttress a sagging share price and mop up $512 million in
Transportation equipment industry
DaimlerChrysler continues to struggle with financial losses, prompting the departure of three top executives just four days after a new German management team took over. The latest departures include chief administrative officer Kathleen Oswald, who was the highest-ranking woman in the auto industry, executive vice president of global sales and
Transportation equipment industry
Thousands of nervous employees at DaimlerChrysler's Auburn Hills, Michigan headquarters were left wondering what the day would bring, but by lunchtime, they knew: the automaker's top officials had been asked to resign. Juergen Schrempp, the DaimlerChrysler AG Chairman, and Dieter Zetsche, the newly appointed Chrysler Group
Transportation equipment industry
Jeff Gordon secured the pole for the season-ending NAPA 500 at Atlanta Motor Speedway, but Scott Wimmer stole the show with his unexpected Cup debut qualifying 35th amongst 56 cars. Wimmer, a 24-year-old driver from American Speed Association, made a last-minute attempt to qualify for the Cup field after the
Transportation equipment industry
Tally Systems Corp., a pioneer in enterprise IT asset management solutions, has partnered with Ford Motor Company to automate hardware and software discovery and asset tracking for 100,000 desktops across Ford's global network. This partnership will enable Ford to make informed decisions about new technology investments and
Transportation equipment industry
A sluggish October for Ford's Premier Automotive Group led to weakening sales across its European and Asian brands, including Jaguar, Volvo, and Land Rover. While year-to-date figures show a different picture, with Jaguar and Land Rover experiencing significant sales growth, the month of October itself saw a decline
Transportation equipment industry
The Ford Explorer has been a bestseller for over a decade, but its popularity has been tainted by a series of rollover accidents, leading to the recall of 14.4 million Firestone tires. The NHTSA has linked the recalled tires to 119 American deaths and at least 50 fatalities in
