Palm Drops 15% After Hours on ‘Very Disappointing’ Results
Mar 18, 2010 Object
Palm reported revenue that beat Wall Street’s low expectations and a smaller loss than a year ago, but the smart-phone maker said its products are still struggling to catch on. The results are more evidence that the one-time mobile pioneer is lagging rivals and could become a takeover target.
Continue reading Palm Drops 15% After Hours on ‘Very Disappointing’ Results
Palm Drops 15% After Hours on ‘Very Disappointing’ Results originally appeared on DailyFinance on Thu, 18 Mar 2010 18:45:00.
Filed Under: Technology, Earnings, Motorola, Research In Motion, Apple, Palm
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Palm Drops 15% After Hours on ‘Very Disappointing’ Results
Tags: a-smaller-loss, a-year-ago, after-hours, apple, earnings, entry, motorola, research in motion, results, smaller-loss, smart, street, technology
Making a mockery of the new Chevrolet Camaro "Convertible"
Mar 18, 2010 Object
Filed under: Aftermarket, Convertible, Coupe, Performance, Etc., Chevrolet, Design/Style
That’s no Camaro Convertible. It’s a horror show. - Click above for image gallery
Autoblog reader Joe Lopez spied what looked to be a Chevrolet Camaro Convertible prototype out on the street. Jazzed about his sighting, he trailed the car as it pulled into a local Detroit-area Target store. Camera in hand, he moved in for pics. That’s likely when the sheer horror of the situation before him struck with the force of a Toyota Prius driven by Jim Sikes.
This was no Camaro Convertible.
Someone had done the unthinkable (and yet, at the same time, inevitable): They had fitted a 2010 Chevrolet Camaro LS with a fabric mock top. Joe’s no dummy. He took the photos anyway, and posted them on his blog, 5thGenCamaro. Then he emailed us, so here we are.
As we all know, tastes vary. That established, in our books, at least, mock tops are only moderately less revolting than the ill-advised landau roof. As you can see, this is one of the more super-classy installations, including false roof bows and a ring of tonneau snaps - because those really scream modernity. The shark fin roof antenna poking through the fabric is the proverbial cherry atop this turd sundae.
As you’ll see in the gallery below, there’s a real convertible - a Chrysler Sebring - parked to the Camaro’s right. We believe we can confidently say that this is the only time a Chrysler Sebring actually looks better to us than a new Chevy Camaro. And that, friends, is frightening. If it were a Buick Lacrosse - even the new one - we probably wouldn’t care. It’d almost… belong. But this? Who does this? Click on the gallery below, then avert your eyes. Thanks for the indigestion pics, Joe!
[Sources: 5thGenCamaro, MichiganClassics.com]
Making a mockery of the new Chevrolet Camaro “Convertible” originally appeared on Autoblog on Thu, 18 Mar 2010 11:02:00 EST. Please see our terms for use of feeds.
Tags: a-friend-via, aston-martin, auditt-rs, bmw x1, buick lacrosse, chevrolet-camaro, chevy camaro, convertible-, design-style, fabric, fabric top, mock top, street
FedEx Results Could Signal Economic Recovery
Mar 17, 2010 Object
FedEx is expected to easily top estimates Thursday morning as it announces its third quarter results. If FedEx serves as a U.S. economic indicator, as many on wall Street believe, the company’s results could signal the beginning of an economic turnaround.
Continue reading FedEx Results Could Signal Economic Recovery
FedEx Results Could Signal Economic Recovery originally appeared on DailyFinance on Wed, 17 Mar 2010 11:44:00.
Filed Under: Economy, Earnings, UPS, Federal Express
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FedEx Results Could Signal Economic Recovery
Tags: beginning, earnings, entry, fdx, federal express, filed-under, street, texas, tiger-woods, ups
GM May See Profit in 2010, Mulling Possible IPO
General Motors’ new Chief Financial Officer says there is a “reasonable chance” the company will show a profit by the end of the year. And although the slimmed down auto giant is in no rush, it could even do an IPO in 2010.
Continue reading GM May See Profit in 2010, Mulling Possible IPO
GM May See Profit in 2010, Mulling Possible IPO originally appeared on DailyFinance on Wed, 17 Mar 2010 11:33:00.
Filed Under: Company News, General Motors, Autos
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GM May See Profit in 2010, Mulling Possible IPO
Tags: autos, dai, earnings, entry, filed-under, general-motors, img-hspace, mulling, street, texas, tiger-woods, tm, dai
Rumormill: Is Harley-Davidson the target of a takeover bid?
Filed under: Earnings/Financials, Motorcycle, Rumormill
We’re not sure if this report should be filed in the Good News folder or the Bad. Harley-Davidson shares jumped an impressive six percent today to their highest level in more than four months. Why? Apparently, the increased activity was spurred by speculation of a possible takeover by private equity firm Kohlberg Kravis Roberts.
We’re anything but experts on the inner workings of Wall Street, but it seems that the hot action is on short-term March and April call options, which indicates that many traders are betting on a leveraged buyout of the historic American motorcycle manufacturer.
Naturally, neither KKR nor Harley-Davidson is commenting on the matter, though neither party has declined the rumors outright. We’ll keep our virtual ears to the ground, and if we hear anything more, you’ll all be the first to know.
[Source: Reuters]
Rumormill: Is Harley-Davidson the target of a takeover bid? originally appeared on Autoblog on Tue, 16 Mar 2010 17:31:00 EST. Please see our terms for use of feeds.
Tags: a-friend-via, a-takeover-bid, automoblox, entry, folder-or-the, harley-davidson, hog, impressive-six, kohlberg kravis roberts, news, private equity, street, their-highest, though-neither
Toyota being sued for full refund of recalled vehicles
Mar 16, 2010 Object
Filed under: Government/Legal, Recalls, Safety, Toyota
“When we talked with Toyota owners, they all voiced the same desire - to drive the car back to the lot, hand them the keys and pick up a check.” So says Steve Berman, a lawyer from Seattle who has filed a class action lawsuit against Toyota on behalf of “dozens” of owners in Arizona and Washington. Fat chance, right?
Not so fast, answers Berman. “Fortunately, we think the law allows for exactly that solution, and we are asking the courts to make it happen.” While this isn’t nearly the first class action suit filed against Toyota since revelations of the car’s possible tendency to accelerate out of control, it is the first such case that seeks a full refund for each car sold.
According to The San Francisco Chronicle, most such suits are only seeking to get back around $500 per owner, or roughly the amount Kelley Blue Book believes the average Toyota has lost in resale value due to allegations the vehicles are unsafe. That would equal more than $3 billion. Berman’s suit, though, could add up to many times that amount if successful.
Even if Berman’s would-be class action suit fails, Toyota may be in for more rough times courtesy of the Attorneys Toyota Action Consortium (ATAC), which is adding racketeering claims to a number of its lawsuits. Northeastern University law professor Tim Howard, who is coordinating the ATAC, says, “It’s become increasingly apparent that Toyota profits were not built on quality products, but on a willful pattern of deception, fraud and racketeering.”
In any case, a group of federal judges in San Diego will meet in one week to determine whether the 110 or so class action suits against Toyota should be combined into one single case and whether that case should proceed to trial. We’ll be watching.
[Source: San Francisco Chronicle via Inside Line | Image: Justin Sullivan/Getty]
Toyota being sued for full refund of recalled vehicles originally appeared on Autoblog on Tue, 16 Mar 2010 16:57:00 EST. Please see our terms for use of feeds.
Tags: class action lawsuits, classaction, entry, make-it-happen, recalls-tsbs, safety, seattle, street
Report: U.S. market Fiat 500 to get upgraded platform
Mar 16, 2010 Object
Filed under: Budget, Plants/Manufacturing, Hatchback, Chrysler, Fiat
European-spec Fiat 500 - Click above for high-res image gallery
We’re all very excited that the cute little Fiat 500 will be making its way Stateside next year, and if new reports are to be believed, it turns out that the U.S.-spec 500 will actually be better than the one already on sale in Europe. Inside Line reports that when the Americanized 500 starts production in Mexico this December, it will be built on the automaker’s new baby car A platform, which will also underpin the 2011 Fiat Panda and Lancia Ypsilon.
So, how is this an improvement? The new platform will provide improved crash protection (meeting the strict U.S. standards), along with reductions in noise, vibration and harshness over the current 500. Other markets will not get this update, however, because the cost of switching platforms simply isn’t feasible for a car that isn’t receiving a complete overhaul (sorry, Europe).
Additionally, Fiat is still deciding what the official name of the U.S.-spec 500 will be when it goes on sale next year. The obvious decision is to leave the numeric 500 name in place, though the automaker is considering using the Italian spelling, Cinquecento, instead. Honestly, we don’t care what they call it - we’re just glad the little guy is coming our way soon.
Gallery: Fiat 500
[Source: Inside Line]
Report: U.S. market Fiat 500 to get upgraded platform originally appeared on Autoblog on Tue, 16 Mar 2010 16:30:00 EST. Please see our terms for use of feeds.
Tags: europe, fiat 500, inside-line, lancia-ypsilon-, make-it-happen, mexico, recalls-tsbs, safety, street
Video: Dodge Viper ACR-X V10 glows red hot on the dyno
Filed under: Motorsports, Coupe, Videos, Dodge, Racing
2010 Dodge Viper ACR-X on the dyno - Click above to watch the video after the jump
There’s something about glowing hot metal that gets our hearts racing here at Autoblog. Whether it’s disc brakes on a racing prototype during an endurance night race or an exhaust manifold at redline during dyno testing, there’s something about metal resisting the forces of incredible heat that appeals to the gearhead in us. That’s why we took particular interest in this video of the new 2010 Viper ACR-X that shows Dodge’s engineers going through final testing of its 8.4-liter V10.
Because it’s built for the track and not the street, the ACR-X gets a few tweaks compared to the stock Viper V10. Gone are the catalytic converters and in go forged pistons, a modified calibration and long tube headers good for 640 horsepower and 605 lb-ft torque. Those headers not only look fantastic when the engine is off, they glow bright orange when the V10 is strapped to the engine dyno and revved to redline for sustained periods. You can see both the Viper ACR-X in action and the dyno tests in the video after the jump.
Gallery: 2010 Dodge Viper ACR-X
[Source: Dodge via YouTube]
Continue reading Video: Dodge Viper ACR-X V10 glows red hot on the dyno
Video: Dodge Viper ACR-X V10 glows red hot on the dyno originally appeared on Autoblog on Tue, 16 Mar 2010 12:30:00 EST. Please see our terms for use of feeds.
Tags: 2010 dodge viper acr, catalytic, dodge, dodge viper acr-x, dodgeviperacr, dodgeviperacr-xdyno, street, united-states, yoshiinaba
Official investigation of runaway Prius begins to answer questions
Filed under: Hybrid, Government/Legal, Recalls, Hatchback, Toyota
A joint investigation by the National Highway Traffic Safety Administration and Toyota into the highly publicized incident last week of a runaway 2008 Toyota Prius near San Diego, CA may begin to answer questions raised after the owner’s credibility was challenged. In particular, the brakes reportedly exhibit a pattern of wear that’s inconsistent with the story told by the vehicle’s owner, James Sikes. According to a draft memo written for the Committee on Oversight and Government Reform, the condition of the brakes suggests that they “weren’t applied at full force over a sustained period at high speeds” reports the Wall Street Journal, but rather “the driver may have intermittently applied moderate pressure on the brakes.”
Representatives from NHTSA and Toyota also couldn’t duplicate the sudden unintended acceleration in testing that was allegedly experienced in the same car last week, though Sikes’ lawyer claims these findings are not surprising: “I don’t think that is surprising insofar as NHTSA has never been able to recreate these events and Toyota has denied that they even occur.”
Finally, Sikes said after the incident that his accelerator pedal was stuck to the floor and he was braking hard at the same time. His particular Prius, however, is fitted with a brake override system that cuts engine power if the accelerator pedal and brake are applied at the same time. Investigators from both NHTSA and Toyota reportedly tried to recreate the same scenario with the vehicle in question and failed due to the brake override system performing as it was intended.
Toyota has announced a press conference for later today to share more of the investigation’s results, which will likely further erode confidence in Sikes and his story. Some experts have questioned why Sikes didn’t follow the advice of a 911 operator and shift his Prius into Neutral, as well as his explanation later of being afraid that the car would flip if he took it out of Drive. Also, Jalopnik.com reported last week that Sikes is some $700,000 in debt as well as behind on lease payments for the Prius in question. Puzzling behavior and circumstantial evidence aside, this investigation appears to offer the first hard evidence that what happened on Interstate 8 last week may not have been Toyota’s fault.
[Source: Wall Street Journal, CNN, Jalopnik | Image: Toyota]]
Official investigation of runaway Prius begins to answer questions originally appeared on Autoblog on Mon, 15 Mar 2010 09:58:00 EST. Please see our terms for use of feeds.
Tags: a-has-announced, edition-emerges, lfa, runawayprius, sandiegoprius, sports, story, street, street-journal, toyota, vehicle
WSJ speculates about Renault-Nissan taking stake in GM
Mar 12, 2010 Object
Filed under: GM, Nissan, Earnings/Financials, Renault, Rumormill
Rumors that Renault-Nissan may be interested in taking on a third head have popped once again, with the would-be merger candidate this time being General Motors. Huh, sounds familiar, doesn’t it? In actuality, The Wall Street Journal is really just speculating on the possible effects of such a deal, and it’s done so with all kinds of number crunching and colorful pie charts.
The lone quote from Renault-Nissan head Carlos Ghosn that seems to have sparked the article: “The name of the game is scale and co-investments and sharing technologies.” That’s a common thread from Ghosn and most recently stated at the Geneva Motor Show earlier this month.
After reading through the article, it seems possible that such a merger could make sound business sense for the Franco-Japanese automaker for a couple of reasons. First is Ghosn’s seemingly insatiable appetite for large-scale synergies. Second, the two automaker’s sales footprints appear to be rather complimentary. Finally, Renault-Nissan has enough cash reserves and holdings on hand that it could afford to purchase a 10-percent stake in the American automaker when it hopefully goes public again in early 2011.
So, does any of this have an actual chance of happening? We have absolutely no idea, but that hardly seems to matter - we’re always up for a little speculation when it comes to our favorite topic of conversation. As always, questions, comments and snide remarks can be left in “Comments.” What say you? Does Renault-Nissan-General Motors have a nice ring to it?
[Source: The Wall Street Journal | Image: Raveendran/AFP/Getty]
WSJ speculates about Renault-Nissan taking stake in GM originally appeared on Autoblog on Fri, 12 Mar 2010 19:01:00 EST. Please see our terms for use of feeds.
Tags: a-common-thread, a-friend-via, a-third-head, article, carlos-ghosn, generalmotors, nissan gm alliance, renault, renault nissan, renault nissan alliance, renault-nissan-gm, renaultnissanalliance, street, street-journal, time
