Nov 08, 2007

Further to the rumours about deals for Renault to get Fernando Alonso in at Renault, it seems that the man who may be involved is Mexican businessman Carlos Slim. The 67-year-old is rumoured to be one of the richest people in the world and has widespread interests in the telecommunications industry in Mexico and Latin America. He controls Telmex and Telcel. In August Forbes magazine reported that Slim is now richer than Bill Gates with a fortune estimated at $59bn, based on the stock market value of his holdings at the time. He controls 90% of the telephone fixed telephone lines in Mexico and 80% of all the country’s cellphones. His America Movil controls cellphone companies across Latin America and now has more than 100m subscribers.

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Source: Mexican money for Renault?

Sebastian Blanco
Filed under: Hybrid, GM, Green Daily

We thought a week or so ago that GM's new hybrid SUVs would start around $45,000. That information came from a GM spokesman, who said the hybrid version would cost about the same price as the conventional 5.3L model with similar equipment. A price like that would have meant virtually no price premium for the hybrid. Following that post, GM's website confirmed the news, and showed the costs of the Chevy Tahoe 4-Door two-wheel drive hybrid ($47,915), the Tahoe four-wheel drive ($50,720), and the GMC Yukon two-wheel drive hybrid ($48,370).

Whoops.

The Detroit News reports that GM will reveal the "real prices of hybrids" next week, and the numbers will be higher. How high? No one is saying, but GM spokesman Terry Rhadigan said this week that the website prices "weren't right when they were up there and we're not sure how they got up there." Looks like the hybrid premium is alive and well at GM. Stay tuned.

[Source: David Shepardson / Detroit News Washington Bureau]

Source: GM's hybrid SUV prices will be "corrected" upwards next week

After GM racked-up a $39b third quarter deficit, BusinessWeek (BW) wants to know if GM CEO Rick Wagoner is finally ready to unfurl his golden, bankruptcy-proof parachute. Their answer: maybe. Clocking the "muted" reaction to GM's latest losses, they attribute Rick's survival to the loyalty of GM's employees and board of bystanders directors. However, BW also notes the status may no longer be quo should the fourth quarter reveal "any more nasty surprises." Perhaps they should also question the longevity of CFO Fritz Henderson. Fritz reacted to GM's arterial spray by dropping such bon mots as "the economic pace and the market are certainly … something we need to be cognizant of." Up with this insight stockholders should put? What of "we're not signaling [their seasonally adjusted selling rate is] worsening or anything, but today it's certainly below trend"? This after GM missed their mark by about a million vehicles in October. In any case, it looks like the mainstream media is– once again– beginning to smell blood in the water. 

BusinessWeek »

Source: BusinessWeek: GM CEO Wagoner is on Borrowed Time