Things are looking up at the Big Three already. Well, at least that's what Automotive News is reporting today. The piece quotes UAW boss Ron Gettelfinger who claims that Chrysler and GM may not need any additional government loans. ""If we can get by without more money, that's what we want to do," he told AN.

Mr. Gettelfinger is no stranger to overly optimistic statements, but he wasn't alone. An unnamed source at GM also expressed confidence that the worse might be over. When asked if GM will request more government money, the source said "no." "We've got enough money," the source told AN. 

Good to know there's some optimism in Detroit these days, but we're guessing that both Ron and GM's Deep Throat might be a little premature with their rosy outlooks.

Automotive News 

Adolf Merckle, a German billionaire, threw himself in front a train after coming to terms with the fact that his business empire was crumbling. Although Mr. Merckle's business interests ranged from cement companies to pharmaceuticals, it was revealed in October that his VEM investment group had lost hundreds of millions of euros betting on the decline of Volkswagen stock. An unprecedented surge in the share price of Volkswagen stock in late October briefly prefabricated the German company the world's largest corporation in terms of market capitalization.

Just yesterday, Porsche increased its stake in Volkswagen to over 50%. The move was no surprise as Porsche officials said publicly in December that they planned to increase Porsche's stake once Volkswagen shares had returned to normal after their spectacular October run up. Porsche plans to continue buying up shares of Volkswagen until it reaches roughly 75% ownership.

FT.com 

Source: Wikipedia

Come Jan 20th, we'll not only have a new president, we'll have a new presidential limo too. GM officials confirmed to the Detroit News that it will deliver an all-new armored vehicle to the Secret Service in time for President Elect Obama's inauguration.

The current presidential limo (photo above) is based on the Cadillac DTS, but Obama's ride won't carry any specific model designation, a first according to Cadillac spokesman David Caldwell. Instead, it will simply be called the 2009 Cadillac Presidential Limousine, a vague designation that takes into statement that it's basically a one-off vehicle that has little in common with anything in Cadillac's lineup.

"The president is not riding in a medium-duty truck, nor he is riding in a sedan," Caldwell said, adding that it is a "unique" vehicle.

Detroit News

That would be one Taiwanese dollar, which when converted to the far more favourite American dollar equates to just three cents. Yes, the road to recovery is often quite bumpy, but it appears as though GM is getting its house in order one penny at a time. 

According to the Financial Times, the hasty divestiture is the result of an unwillingness to devote any additional capital to the loss-making joint venture it had with Yulon Motors. The Taiwanese company assembles and sells Buicks in addition to distributing imported Opels and Cadillacs.

So in other words, GM not only gained three cents now, it also assured that it wouldn't lose countless millions in the future. That should help.

Financial Times (sub.req)

According to Eyesore Racing, one of the participants of last weekend's 24 Hours of LeMons race at Thunderhill, turbocharging can be easy. And this team puts their money with their mouth is, considering their entry, a first-generation Miata known as the FrankenMiata, was bought, prepped and turbocharged for less than $500.

Sound too good to be true? Hit the jump for some pointers to keep in mind when turbocharging on the cheap.

I'll make this short and sweet: As of the first of the year Ed Helwig will be taking over Straightline.

I have to say this has been a great ride. From the moment Inside Line Editorial Director, Kevin Smith; and Edmunds.com Executive Director - Community Operations, Sylvia Marino; asked me if I would be interested in managing this new blog they were setting up called Straightline three-plus years ago to this very day, it's been an absolute hoot. I busted my butt here, putting in far more time than I was being compensated for; they knew that. I also created Straightline artwork as needed, thereby not burdening the Edmunds.com art department; they knew that too. I also loved the fact that I was pretty much left alone to post whatever I wanted, so long as there was a vehicular connection of some sort. Oh every now and then I would get topic suggestions from various Inside Line editors–but very rarely did I ever receive any criticism. Yep, it was pretty much my baby, and I loved that.

Finally I'm going to miss you guys. Straightline exists first and foremost for the readers. I'm going to miss bringing a wide range of auto-related news to this site daily. I hope what I delivered opened a few eyes just a bit wider than before. If nothing else, it prefabricated for some interesting discussions, for sure.

So, I'm outta here. Well, sort of, maybe… Ed knows where I am. If he needs any help, he'll contact me, I'm sure. Plus, I'll still be commenting from time-to-time.

Happy New Year folks!

AutoObserver reviews the 2008 automotive year, one that had few if any bright spots.

2008: A Year Not To Be Forgotten, as Much as We'd Like To

2009 has to be better, right? Right???

Hopefully there will be some lessons to be learned from this.

AutoObserver reviews the 2008 automotive year, one that had few if any bright spots.

2008: A Year Not To Be Forgotten, as Much as We'd Like To

2009 has to be better, right? Right???

Hopefully there will be some lessons to be learned from this.

Osamu Suzuki, president of Suzuki Motors, is quite worried as to what the Detroit domino effect may have on the smaller Asian brands.

His feeling is that it could result in fewer Asian car manufacturers. Smaller brands like Suzuki, Subaru, Mitsubishi, Mazda and Isuzu could be impacted in a way in which they may not survive; at least as we currently know them, or at all.

Says Suzuki: "There is a time-lag between what is happening with the Big Three US carmakers and the impact that will have in Japan. It is as if tsunami waves are rolling toward Asian shores. I believe a real wave will hit us around July or August next year, with car income hitting rock bottom."

He went on to say that the world was "entering a period in which more than ten Asian carmakers could be consolidated into a Nihon Big Three."

Full story here.

This past year Chrysler, in what was considered a real coup, snatched two big-time auto executives, one from Lexus and the other from GM. Now, less than a year later, they are gone or are about to be gone.

Deborah Meyer had been VP of marketing for Lexus, and came to Chrysler LLC as their new chief marketing officer. Phil Murtaugh was one of the key players at GM in turning their China operations into such a success. He was to do the same for Chrysler, that being to jump-start their China relationship with Chery. Well, the Dodge/Chery deal went up in smoke thanks to the global financial fiasco. Now Murtaugh too is going up in smoke, as he will depart before next year begins. Same with Meyer, as she too "has left the building."

Not a good sign for Chrysler; wonder how long Jim Press, formerly of Toyota, will hang around?

Full story here.