Results tagged “generalmotors”

Flush with socialist bailout money, General Motors is now trying to destroy the oil industry with a car that will get 230 miles per gallon in city driving! GM calls it the Chevy Volt and classifies it as an "extended-range vehicle" powered by an electric motor and a battery pack with a 40-mile range. (After that, a small internal combustion engine takes over to generate electricity for a total range of 300 miles.) Toyota’s Prius, the most fuel-efficient hybrid sold in the U.S., gets 48 miles per gallon and looks like a Hummer 3 by comparison. GM CEO Fritz Henderson promises that at the U.S. average cost of electricity (approximately 11 cents per kWh), a typical Volt driver would pay about $2.75 for electricity to travel 100 miles, or less than 3 cents per mile. Of course, big oil still has some time to assassinate Henderson and burn down GM's R&D labs—the first-generation Volt is expected to cost about $40,000, which most consumers might not swallow even if gasoline returns to $4 per gallon. And the E.P.A. still has run its own tests to confirm GM's assertions, but the company says Volt is on schedule to reach showrooms late next year. But whatever happened to the P.U.M.A.!?

General Motors, an "icon of American business," has filed for Chapter 11 bankruptcy this morning at US Bankrutpcy Court in New York's Southern District. The NY Times reports, "The company was forced into the filing by President Obama, who is betting that by temporarily nationalizing the onetime icon of American capitalism, he can save at least a diminished automaker that is competitive."

More Trouble for NBC’s Dateline

The chairman of General Motors headed up to Harlem to open the first car dealership there in 40 years on 127th Street, between Second and Third Avenues. Rick Wagoner was joined by Mayor Bloomberg, Representative Charles Rangel, and the Reverend Jesse Jackson for the opening of a Chevrolet-Saturn of Harlem dealership and the Potamkin Cadillac-HUMMER dealership, making them the only car dealerships above 57th Street. GM and the Department of Transportation will also be offering free child safety seat inspections to Harlem families. The city is especially proud of the dealership, as it was created in part by $17 million in Empowerment Zone bonds.

AppleInsider reports that Apple is building a giant glass structure reminiscent of the discontinued G4 Cube as the entrance to its new store at the GM building: