Suppliers Brace for GM Shutdown
from The Detroit Free Press
 The nation's struggling auto-parts industry is bracing itself for a new wave of financial distress as General Motors Corp. prepares for an extended summer shutdown at 13 assembly plants, as well as associated stamping and powertrain factories. The move slams suppliers that already have been forced to drain their cash reserves after an extended winter shutdown that lasted through much of January. More 
Timken Company 1Q Sales Fall 33 Percent
from Modern Distribution Management
The Timken Company, Canton, OH, reported sales of $960.4 million for first quarter of 2009, a decrease of 33 percent over the same period a year ago. First-quarter profit was $0.9 million, compares with profit of $84.5 million for first quarter 2008. "It's now clear that the impact of the recession on the demand for our products will be deeper and longer lasting than we anticipated. In the short term, we are managing the company with a heightened emphasis on cash flow," said James W. Griffith, president and CEO. More
Fiat Makes Bid to Buy Opel
from AutoWeek
The proposed partnership between Fiat and Chrysler has been thrown into a tailspin with revelations that the Italian carmaker has made a secret offer to purchase a majority stake in Opel. Klaus Franz, chairman of Opel's works council, confirmed Fiat's interest in a takeover of General Motors' European subsidiary, suggesting that officials have cleared the way for the signing of a letter of intent as early as today. More
U.S. Army ARH Program Undergoes Major Shift
from AviationWeek
The U.S. Army's revived Armed Reconnaissance Helicopter (ARH) program may not end up being a helicopter at all, depending on the results of the service’s analysis of alternatives (AOA) on its aircraft fleet. "The key performance parameters (KPP) are validated [for ARH]," Brig. Gen. William Crosby, the Army’s program executive officer for aviation, said last week on Capitol Hill. But with criticisms that the service was living in the past, "we decided we needed to take an appetite suppressant…Let’s objectively do an AOA that goes through and studies what is the right mix [of aircraft]." More
Chrysler Lenders Said to Offer to Reduce Loans by 46 Percent
from Bloomberg
Chrysler LLC’s lenders, holding $6.9 billion in debt, have offered to reduce their loan amounts by 46 percent to $3.75 billion, people familiar with the negotiations said. They also would agree to drop a condition that Fiat SpA contribute cash to a proposed Chrysler alliance, said the people, who declined to comment because the talks are private. An earlier request for a 40 percent stake in Chrysler after the debt is lowered would remain, the people said. More
GM to Cut 21,000 U.S. Factory Jobs, Shed Pontiac
from The Detroit News
General Motors says it will cut 21,000 U.S. factory jobs by next year and phase out its storied Pontiac brand as part of a major restructuring effort needed to get more government aid. General Motors Corp. launched its bond exchange offer this morning to its holders of $28 billion in unsecured debt, offering them 10 percent of the equity in the company and accrued interest -- in an effort to avoid a bankruptcy filing before the end of May. More
Society of Automotive Engineers Tackles Governmental 35 MPG Standard
from Popular Mechanics
At this year's SAE World Congress there is a sense of urgency and excitement in the air as the gathered automotive engineers begin to tackle what may be the toughest challenge yet: Dramatically increasing fuel economy in the U.S. Kiss the four-speed automatic goodbye. The coming trend will be more gears to obtain a larger ratio spread. More speeds means the engine doesn't have to work as hard, saving fuel. Double-clutch automated transmissions will become much more common. More
Ford Targets Rivals as Loss Eases
from The Wall Street Journal
Ford Motor Co. said it likely wouldn't need a government bailout in reporting a smaller-than-expected loss for the first quarter. But it warned that an uncontrolled bankruptcy reorganization of General Motors Corp. or Chrysler LLC could change that by taking down their shared networks of suppliers and dealers. Chief Executive Alan Mulally said, "We do not expect to require a bridge loan from the U.S. government." More (Subscription Required)
Massive Interest Opening Up in Business Scale Wind Turbines
from New Energy Focus
As wind turbine manufacturers strive to build ever bigger machines for the power generation market, they appear to have left behind a significant demand for smaller turbines for businesses and community use. More
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