Tom Breckenridge
Plain Dealer Reporter
The region’s aerospace supply chain is an under-recognized but important driver of the region’s economy, a business-attraction group says.
Team NEO is spotlighting the multibillion-dollar aerospace sector in its latest quarterly review. The reviews aim to detail positive aspects of our struggling economy, as a tool to draw new business to the area.
Team NEO reports today that industries whose business includes supplying parts and components to the aerospace industry grew 59 percent in the last 16 years. That’s more than twice the growth rate for the 16-county economy.
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Posted by: Frederik Balfour
GM’s iconic Hummer brand has been acquired by a Chinese heavy construction equipment maker for about $150 million, marking another step in the long march by China to develop a world class local automobile industry. The deal, which was announced on the General Motors website, stipulates the manufacture of all Hummer brand vehicles will continue at its U.S. plants until 2011, ensuring 3,000 workers will keep their jobs. Sichuan Tengzhong Heavy Industrial Machinery Co. will take 80% and a Chinese entrepreneur from Sichuan province in China’s interior, Suolang Duoji will take 20%.
Tengzhong was an obscure private company until it made headlines in June announcing it was in talks with GM to buy Hummer. Initially the official Chinese press conveyed Beijing’s displeasure over such a deal, claiming that the purchase of the gas guzzling Hummer brand was not in keeping with the country’s goal of cleaning up its environment. However insiders said that what really rankled the authorities was that Tengzhong did not seek approval from the central government before making the bid. All overseas investments require the government’s blessing, and Beijing is particularly sensitive to how attempted overseas purchases would be perceived by a world that is increasingly wary of the country’s growing economic might.
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By Star-Ledger Wire Services
Forget ObamaCare and the federal deficit. Let’s even put aside the mess in the Middle East for a minute. We’ve got real controversy here. The editors at Cars.com have compiled a list of the worst cars of the decade.
For the record, we agree with most of them. We had to paraphrase the editor’s comments, but the rankings — in descending order — are:
1. Smart ForTwo (2008-present): The ForTwo may look cute, but you won’t be smiling after you drive it.
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NEW YORK, /PRNewswire/ — When the government’s Cash For Clunkers program ended on August 24th, dealerships that experienced high sales with the program, went through a huge withdrawal. Participating dealers in the privately funded Automotive Stimulus Program, which is ongoing, have been able to maintain this surge.
Some of the largest automotive retailers in the country created a privately funded stimulus program this July to provide additional incentives for consumers to make it easier for them to get a newer more fuel efficient vehicle. The dealer funded Automotive Stimulus Plan was designed to complement the government’s program and to compensate for some of the gaps that don’t allow consumers to purchase pre-owned vehicles or chose a short term lease.
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