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GM, Ford report sales gains as economy perks up
The Detroit News Share    
General Motors Co. reported its first monthly sales increase in nearly two years on Tuesday and Ford Motor Co. also racked up gains in October, providing further evidence that the U.S. economy appears to be on the mend. Overall vehicle sales were level with last October's totals, ending a streak of year-over-year declines as the market continued its slow climb out of the steep downturn that began in 2008. MORE
New jobless claims drop to 512K, lowest since January
Yahoo! News
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The number of newly laid-off workers filing claims for
unemployment benefits last week fell to the lowest level in 10 months, evidence that job cuts are easing as the economy slowly heals.
Still, companies are reluctant to hire and economists expect the unemployment rate will tick up to 9.9 percent when October's figure is reported Friday. The jobless rate hit a 26-year high of 9.8 percent in September.
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Chrysler's urgent agenda
the Detroit Free
Press
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A parade of executives outlined the urgent changes under way and ahead the day after the company reported a 30 percent sales drop in October. Design chief and Dodge car President Ralph Gilles said Wednesday as the company unveiled its post-bankruptcy plan that an immediate objective is to replace bland interiors with brighter and richer-looking upgrades on Dodge Nitro, Caliber and Journey.
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Fed again holds interest rate at record low
Transport Topics
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Federal Reserve governors voted for an eighth consecutive time Wednesday to keep a key U.S. interest rate at a record low "target range" of zero to 0.25
percent.
The Fed first lowered the key federal funds interest rate to that range last December.
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Electric Ford Transit Connect due in 2010
Automotive Fleet
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Ford Motor Co. announced it is collaborating with Azure Dynamics Corp. to deliver a pure battery electric Ford
Transit Connect van for the United States and Canadian markets in 2010.
Azure will integrate its Force Drive battery electric drive train in the Transit Connect van for commercial fleet and retail use.
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Class 8 heavy truck orders up sharply in October
Trailer Body Builders
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FTR Associates has
released preliminary data showing Class 8 net orders for all major North American OEMs totaled 21,792 units in October, reflecting a definite upsurge in order activity. October's order volume is a 104 percent increase over September and a 117 percent year-over-year increase. For the last three months, Class 8 orders were received at an annualized rate of 172,300, significantly better than early 2009. The figure includes orders for the U.S., Canada, Mexico and Exports.
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Construction spending rises in September
Transport Topics
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U.S. construction spending rose 0.8 percent in September, the largest increase since September 2008, the
Commerce Department said.
The increase followed a revised 0.1 percent drop in August, which was originally reported as a 0.8 percent gain. Spending was forecast to drop 0.2 percent from August, Bloomberg reported.
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Truck fleets prioritize fuel savings, high-tech features
the Environmental Leader
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Fleet owner demands for fuel savings, environmental benefits and high-tech features now outweigh brand names as companies make buying decisions, according to a global IBM study. The study shows trucks will become more fuel efficient, environmentally sound and safer due to the adoption of new technologies throughout the vehicle, which will
also help truck manufacturers differentiate their vehicles as brand names become less important.
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Recovery Act road spending hits $20 billion
eTrucker
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The Federal Highway Administration crossed the $20 billion mark in approved obligations for highway, road and
bridge projects, the U.S. Department of Transportation announced. Of the $26.6 billion available for federal highway and bridge projects under the American Recovery and Reinvestment Act, more than 75 percent now has been obligated.
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