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The economy may be in recovery mode, and the automotive industry may be waiting for a jump start, but according to the Chicago Tribune, auctions of classic cars are drawing record crowds across the nation. "We simply refuse to participate in the recession," said Dana Mecum, chief executive officer of Mecum Auto Auction. Entering the weekend, 63 percent of the vehicles were sold, according to Tom Christmann, Mecum's marketing manager...

There are rumblings that GM might move its headquarters out of Detroit. When Fritz Henderson was asked about the possibility, his answers were less than confidence-building. “We’re looking at, frankly, everything within our business, but it’s not like we have that queued up at the top of our list,” he said...

The Northern California city of Tracy is taking economic stimulus into its own hands. On Tuesday, the city council passed a resolution that will give buyers of new cars from dealers within the city a $500 gift card that can be redeemed at local merchants participating in the program. Would a gift card like that be enough to get you into a new car at this point?..

Our next contestant on The Price Isn't Right is UAW vice-president Bob King, come on down! You're playing for the autoworker jobs that are going to be a part of the restructured GM. The game is simple...

Facing a June 1 restructuring deadline to avoid bankruptcy, GM will begin notifying outlets the automaker plans to eliminate by May 11, the company told dealers in a video conference call. They're looking at up to 1200 underperforming  outlets and more than 450 stores will be cut with the ending of the Pontiac, Saturn, Hummer and Saab brands. Some serious fat trimming going on...

While doing some information gathering for financial planning for my Mom, I came across a curious letter. She was a GM shareholder and got a letter from Rick Wagoner last July that I thought I would share with the class. July 15, 2008 Dear Stockholder, I am writing to you to tell you about significant actions announced today in response to the worsening economic and automotive market conditions we are experiencing in the U.S...

With the deadline for Chrysler to get a deal done with Fiat just around the corner, things aren't exactly looking favorable for getting that deal done. Fiat has enough wayward offspring to support without Chief Executive Sergio Marchionne trying to persuade investors Thursday that he can add Chrysler LLC to the brood by an April 30 deadline set by the U.S. government...

It's always a good idea to have an alternate route in mind, just in case you run into some unexpected construction or traffic. You always want to be making progress towards your goal. GM, which has received $13.4 billion in government loans, is working on parallel strategies: one that would restructure the automaker outside of bankruptcy court and another that would reorganize it inside...

General Motors is studying whether to drop both the Pontiac and the GMC truck brands in an effort to improve its financial position and avoid looming bankruptcy, according to published reports and industry experts. Desperate times at GM call for desperate measures. Whether GM can avoid bankruptcy or not really seems to be an irrelevant question at this point...

Chrylser is definitely in dire straights Fiat is putting on the pressure if what I found on MarketWatch this morning is any indication. LONDON (MarketWatch) -- Italian carmaker Fiat will walk away from Chrysler unless the U.S. carmaker Canadian and American unions agree to significantly reduce labor costs by the end of the month, Fiat Chief Executive Sergio Marchionne told Canadian newspaper the Globe and Mail in a interview published on Wednesday...