GM to shutter Saab if no buyer is found by end of December
General Motors, having recently emerged from bankruptcy and reeling from the collapse of the Koenigsegg Group AB deal to buy Saab, its Swedish auto division, has drawn a line in the sand. In its announcement, GM stated if they did not have a suitable buyer for Saab by year end, they would “begin an orderly wind down of the global Saab business at that time.” Due to nondisclosure agreements, GM is not discussing any ongoing negotiations. Read more
How "Damage Points" affect your FICO credit score
Have you ever wondered how certain events affect your FICO credit score? Wonder no more! Thanks to some excellent investigative reporting by personal finance writer Liz Pulliam Weston, you will be able to find out this weekend.
If you look at the graphic on the left, there are a few examples on how your financial mistakes can have a negative impact on your credit score. If you have great credit, the impact will be greater for each scenario. Read more
Ford returns fire. New Mustang V6 to outperform Camaro
Ford announced a new V6 for their Mustang for the 2011 model year. Ever since its introduction, the new Chevrolet Camaro has been outselling the Mustang. Equipped with a 304 horsepower 3.6L engine, the Camaro’s V6 easily outpowers and squeezes more miles out of a gallon of gas than Mustang’s current 4.0L V6 offering. Read more
Proposed "war tax" being considered to end borrowing
What’s being called the “Share the Sacrifice Act”, is being proposed to end borrowing to pay for the war in Afghanistan.
House Representatives Dave Obey, the Chairman of the House Appropriations Committee, John Murtha, the Chairman of the Defense Appropriations Subcommittee, Congressman John Larson, the Chairman of the Democratic Caucus, and eight other Democratic Members introduced the legislation last week that would impose a war surtax beginning in 2011. Read more
GM announces 2011 Cadillac CTS Coupe
Cadillac announced plans to start producing the CTS Coupe this coming Spring. The new variation of the popular CTS sedan will be sold as a 2011 model. According to Bryan Nesbitt, Cadillac general manager, the 2011 CTS Coupe’s design is “virtually unchanged” from the concept version shown at the 2008 Detroit auto show. The coupe is four inches shorter in height than the sedan it is based on. Read more
