THE AUTO INDUSTRY BAILOUT - $11.6 Million Awarded to Alvaro de Molina - the CEO of GMAC

It's time I expressed my opinion about these CEO's and their compensation plans.

Who else thinks that if a company loses billions, the CEO should get NOTHING!!!

This makes me sick.


Auto financier GMAC LLC, the recipient of a $6 billion federal bailout in December, today said CEO Alvaro de Molina was awarded $11.62 million of compensation in 2008 -- which doubled his total compensation from 2007.

Package included $2.3 million in use of corporate jet.



De Molina was awarded a $1.2 million salary, $5.81 million of stock awards and $4.8 million of other compensation, offset by option awards of negative $194,000, reflecting the application of an accounting standard.

GMAC said de Molina's compensation was $4.93 million in 2007. He became CEO on Sept. 5 of that year.

GMAC has in recent quarters suffered operating losses in its auto and mortgage units, but in December won its government bailout, as well as bank holding company status that allows it to tap lower-cost funding.

GMAC reported de Molina's compensation in a summary table included in its annual report filed with the U.S. Securities and Exchange Commission.

Differing calculations:

Some pay consultants and governance experts tabulate executive pay differently, saying the summary total may be imperfect because it counts options and stock as part of pay when they vest rather than when they are awarded.

About $2.26 million of de Molina's compensation came from the use of corporate aircraft. GMAC said it no longer provides aircraft for business or personal use.

The bailout required private equity firm Cerberus Capital Management LP and General Motors to slash their respective 51 percent and 49 percent stakes in the Detroit-based lender.


AFI's take on this:

A MONKEY could come in as the CEO and cause a company to lose billions of dollars. What do we need these people for?

Actually, I am glad that the public is becomming more aware of this insanity. Maybe if we makes enough noise, things could change for the future.

Oh well, Obama is the President. The waters will recede and all will be made whole.


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A Thing Of Beauty.

When Hugh Hefner first asked out singer Barbi Benton, she supposedly said, "I've never been out with anyone over 24." "Neither have I," Hef replied.

We should all be so lucky...

When it comes to cars, however, it's easier to get fired up over mature's curves. Contemporary rides are obviously miles ahead in terms of power, handling, gas mileage, and technology. But they lack the intangible mojo that made these landmark vehicles timeless. Here are 10 classic American cars that left a permanent mark on the automotive industry.

AWESOME!

1953 Chevrolet Corvette - 1953 Chevrolet Corvette



The only sports car worth owning.

What began in 1953 as a slow performer in the showrooms and on the street soon gained momentum and V8 power, and it evolved into an American icon. To desire a 'Vette is only human. To own one is to belong to a family as passionate for their cars as any you'll find. Each generation of Corvette has been better than the last, and all represent passion molded in fiberglass.

Cool Fact: Red is the color we usually associate with the 'Vette, but in 1953, white was the only color offered.




Is she really all that? Post a coment:

Flying Car the 'Ultimate Hybrid' Goes to Market

Prepare for Takeoff

A Boston-area company plans to begin flight tests this year of a two-seater airplane that moonlights as a car.



The aptly named "Transition" takes a stab at bridging the gap between automobiles and airplanes. Some people call it a flying car. The company designing and selling the vehicle prefers the term "roadable aircraft."

Either way, it boils down to this: You sit down behind the steering wheel, drive to the runway, unfold two wings and take off. You can fly 500 miles on a tank of gas -- regular unleaded -- and when you land, you simply fold up the wings and drive where you want to go. At the end of the day, you fly back, drive home and park inside your garage.

Terrafugia, of Woburn, Mass., is not the first firm to attempt what may be the ultimate hybrid.


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Announcing the 2010 Ford Taurus

My first new car (and negative car buying experience) was a 1989 Ford Taurus. I loved that car.

Oh well,

More convincing is needed to get me to switch from Infiniti.

AFI

By REX ROY | AOL AUTOS
See 2010 Ford Taurus Photos:



The lines are crisp, the roofline looks sleek, and the wide stance of the wheels gives the car a performance-oriented feeling. If you weren't standing inside the Ford booth at the Detroit Auto Show, you'd think you were looking a new luxury car -- probably an import -- not the all-new, full-size 2010 Ford Taurus.

No Taurus in recent memory ever looked this good, and the transformation is welcomed because 2008-2009 Taurus isn't a great looking car. Knowing this truth, Ford decided to do something drastic.

The all-new design is decidedly upscale. There's not a hint of the dowdy old style to be found. The exterior style is dominated by a sculpted hood, pronounced front fenders, and character line that runs front to back ending at the tall trailing edge of the rear fenders.

Inside, a forward-leaning center control cluster clearly makes the new Taurus a five-seater. New production techniques have yielded better looking and richer feeling dash and door coverings. As evidenced in recently introduced models, Ford knows how to craft high-quality and visually pleasing interiors. Panel gaps and materials appear on par with luxury cars.

See 2010 Ford Taurus Photos:

Even though the Taurus is a full-size car, the amount of passenger room still surprised us. The adjective "huge" comes to mind. The trunk, thanks to the high profile of the rear fenders and the tall deck, is likewise enormous. Back in the days of drive-in movies, it would have been easy to fit three stow-aways back there with room for soda and chips.

The 2010 Ford Taurus should have the moves to match its trimmer more athletic looks. The mechanicals are based on the Lincoln MKS, a capable performance sedan. The standard engine is a refined 3.5-liter V-6 (also used in the Lincoln), generating an estimated 263 horsepower. Along with earning ULEV-II emissions certification front-wheel-drive Taurus (all-wheel drive is optional) is expected to deliver unsurpassed highway fuel economy in the class, but Ford hasn't yet released mpg estimates.

Every Taurus will be equipped with a six-speed automatic. On SEL and Limited models (the SE is the base model), the transmission will feature paddle shifters on the steering wheel, a manual shift mode, and rev-matching downshifts deliver a sportier driving experience.

Compared to the outgoing model, the chassis components under the 2010 Taurus should provide sportier ride dynamics. Ford engineers promise more roll stiffness and more responsive steering. Like the MKS, the new Ford uses struts up front and multi-link, fully-independent arrangement in the rear.

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Hyundai: If You Can't Make The Payments? Just Return It

by Dan Strumph

Can't make the payments on that new car you just bought? No problem -- just return it free of charge.

At least that's the deal being offered by Hyundai Motor America. In a bid to woo skittish consumers, the South Korea-based automaker will cover the depreciation on any returned leased or financed vehicle for the first 12 months to those who find themselves unable to make their car payments.


An excellent promotion. It is as exciting as Hyundai's 10 year / 100,000 mile warranty.

"We're seeing people who are stuck," said Joel Ewanick, vice president marketing for Hyundai Motor America, in an interview. "Really they have a mental fatigue and they're really nervous about their long-term financial situation, so we started working on that side of it."

Deadbeats need not apply, however. The "Hyundai Assurance Program" only applies to customers stricken by misfortune outside of their control, such as losing their job, becoming disabled or losing their driver's license for medical reasons.

Customers must also have made at least two payments on the car already. In addition, Hyundai will only refund the depreciation on the returned car up to $7,500.

"For the normal person, this should cover any normal depreciation in the first year," Ewanick said.

After the first 12 months, customers have the option of extending the program for a fee through their dealership. Customers who pay cash for their car don't qualify for the program, Hyundai said.

Hyundai, which launched the program on Friday, said the program is aimed at consumers too nervous to spring for a new car in the difficult economy. The slump in consumer confidence has been one of the biggest factors behind the collapse in new vehicle sales in 2008.

For this reason, traditional incentive tactics, like low-interest financing or cash bonuses, have been much less effective in boosting sales recently, Ewanick said. Economic anxiety -- rather than cost -- has been the biggest factor holding consumers back from big-ticket purchases.

"This is a recession of fear, a recession of confidence," he said. "It's much more severe than what we saw in the early '90s."

Hyundai said Monday its December sales in the U.S. fell 48 percent to 24,037 from 46,487. Sales for all of 2008 declined 14 percent.

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Ford - The Fusion Hybrid Tops Toyota’s Camry Hybrid

2010 Ford Fusion Hybrid

Ford Fusion Hybrid to get 41 city m.p.g.

Ford Motor Co.’s much ballyhooed 2010 Fusion Hybrid will get 41 city miles per gallon and 36 m.p.g. on highways, based on final certification figures from the U.S. Environmental Protection Agency, the company said Monday.

The move is one of the final steps in getting the vehicle to dealerships next spring. Certification of the vehicle was recently completed at the company’s testing laboratories in Allen Park.

Ford said that the Fusion Hybrid tops Toyota’s Camry hybrid -- its main competitor -- mileage by 8 m.p.g. in the city and 2 m.p.g. on the highway.

The Fusion can travel up to 47 miles per hour using only battery power. After 47 miles, the car’s four-cylinder engine turns on to power the car and recharge the battery.

The Fusion’s nickel-metal hydride battery is lighter and produces 20% more power than the Ford Escape hybrid. It also devised a way to get 28% more power out of the battery cells, said Praveen Cherian, program leader for the Fusion Hybrid.

“It’s not just one thing, but thousands,” he said of the improved mileage numbers. “We’ve optimized the heck out of that vehicle, it’s individual components.”

The battery also can tolerate higher temperatures, and Ford has eliminated its battery cooling system in the Fusion, allowing the battery to cool using regular cabin air.

The company also has improved its regenerative braking system, which captures energy lost through brake friction and stores it for battery usage. Ford said 94% of brake friction energy is recovered in the new model.

The Fusion also includes SmartGauge technology, which helps drivers adjust their driving to get more mileage out of the car.

Ford unveiled the Fusion Hybrid at the Los Angeles Auto Show last month, along with the Mercury Milan hybrid.

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A World Without Gas Part 1

It's going to happen, maybe not today, tomorrow or possibly not for a century. But one day, fossil fuels will run out. What then?

By Erik Sofge of MSN autos

It's not a call to arms, or a doomsday prophecy. It's a simple truth: Someday the planet will run out of oil. Whether the endgame comes within decades or a century, and despite whatever attempts are made to restrict global consumption and dramatically increase fuel efficiency, even the most optimistic experts admit it's only a matter of time.

For now, major automakers continue to roll out hybrid cars while teasing the public with more revolutionary models, such as GM's plug-in hybrid, the Chevy Volt, and the hydrogen-powered FCX Clarity from Honda. These might be glimpses of a brighter, more energy-independent automotive future. Or they might be marketing disasters in the making, and yet more reasons to defer the coming crisis for another few years. These are short-term concerns. In the long run, what will it take to achieve an entirely petroleum-free fleet of automobiles? What will the road look like when the gas runs out?

A Complicated Problem

"This question is likely to be a real concern in a 20- or 30-year time frame," says John Heywood, a professor of mechanical engineering at the Massachusetts Institute of Technology. "We have to start looking for alternatives immediately, but that's when it will really become critical." The problem, however, could hardly be more complicated.

Despite decades of research in battery technology and fuel cells, there is no clear-cut successor to petroleum-based fuels. Gas and diesel offer an irresistible combination of energy density and stability. The only drawbacks are the inevitable release of all those converted hydrocarbons as carbon dioxide and other emissions, as well as the fact they are made from oil. Despite all of the political and environmental collateral damage, petroleum is a tough act to follow.

Over the past decade, there has been no shortage of contenders in the race to replace gas and diesel, including cars powered by compressed air or recycled vegetable oil. For now, though, the world of alternative fuel research is essentially a two-party system, with the most high-profile projects falling under the umbrella of vehicles powered either by batteries or hydrogen fuel cells.

Both camps have their champions, decidedly flawed heroes like the Tesla Roadster electric sport car, which could reinvent the public image of electric vehicles (EVs), provided the fledgling automaker can survive long enough to deliver the first batch. Honda's hydrogen-powered FCX Clarity, which can be refilled at only a limited number of stations throughout the country, has a waiting list that's so restrictive the car seems more like a public relations stunt for eco-conscious celebrities than a step toward oil independence.

Awkward as they might seem, these are baby steps, some experts say, and only the opening round in a war between EVs and hydrogen for post-oil market supremacy. "It's unlikely we'll do both," says Heywood, who remains tentatively optimistic about battery-powered vehicles. "Electric vehicles can evolve in a grass-roots fashion. It grows bit by bit. There aren't real barriers to getting started."

EVs: Available Now, Infrastructure Issues


EV devotees can buy small, limited-range models right now, such as the $14,000 Xebra from California-based ZAP,a three-wheeler that can travel up to 40 miles on a charge.


I just can't stop thinking of those VERY windy days...

According to ZAP, sales are up — the company sold roughly three times as many Xebras in the third quarter as it did during the same period in 2007. When it comes to mainstream adoption, though, battery-powered EVs face significant barriers, such as the price and capacity of present-day batteries.

Norwegian EV maker Th!nk, which hopes to start selling its battery-powered two-seater City in the United States sometime next year, has unveiled its design for a more mainstream-friendly sedan.


Th!nk Ox - Kinda cool

The Ox would have five seats, and as much as 50 percent more range than the City — up to 155 miles per charge — but according to Th!nk Chief Executive Richard Canny, "The Ox is a vision of where industry might be in 2012 or 2014. With today's batteries, it would be prohibitively expensive."


Th!nk Ox - Looks like something out of a video game.


Th!nk Ox - Ok, these graphics aren't foolin' me - it really is out of a video game. Call me when the car is built.

Continue Reading A World Without Gas - Part 2:


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