China already gets the equivalent of 35.8 miles a gallon this year based on the American measurement system of corporate averages and will be required to get 42.2 miles a gallon in 2015.
China sets minimum standards for each of 16 weight categories and tests only urban fuel economy, not highway driving.
The current fuel-economy standards ban the production of any vehicle in China that does not meet the minimum requirement for its vehicle weight range. But imports are exempt
Chrysler is, in fact, hurtling through the process and appears on track to emerge soon as a new company, just one month after its Chapter 11 filing.
“We have to see the consumer supporting this company by buying their product, which hasn’t been happening,”
Mr. LaSorda said it was clear to him that the company would continue to spiral downward unless it could update its vehicle lineup.
Read the rest of the story by clicking on the following: Chrysler Cures a Bankruptcy, but Tests Loom - NYTimes.com
Governor Quinn indicated that nary a complaint from a suburban crowd regarding his tax increase plans and considers the public to be on his side in negotiating a balanced budget with lawmakers.
He also predicted that there would be a budget deal before the midnight Sunday deadline for action.
Read the rest of the story by clicking on the following: Daily Herald | Governor: 'Burbs OK with my tax increase
The move runs contradictory to city efforts to cut costs over in past months in response to a projected 3 percent decrease in revenues compared to last year and a reported 9 percent hike in expenses.
It's a two-year agreement with Service Employees International Union Local 73 that will increase the hourly pay of full-time and part-time public works, maintenance and clerical staff….however there's a wage re-opener at the end of the first year, and so this 2 percent is only for 2009."
Last November, the city announced it was eliminating as many as 54 positions throughout this year, which included the laying off of 16 employees late last year
the agreement allows for a renegotiation of wages at the end of 2009 that could possibly decrease workers' pay, depending on the city's economic condition at that time.
Members of the Boone County board tussled over procedure on filling the vacant District 2 board spot
This appointment comes with the consent of the board," she said. "I want to make an informed decision."
Those voting in support of the amendment were board members Ken Freeman, Glass, Kathy Hartwig, Peggy Malone, Mattison and Ward.
Read the rest of the story by clicking on the following: The Belvidere Daily Republican. - Board divided on best course to fill vacant spot
The ongoing debate over what is an appropriate level of security at the Public Safety Building continued this week as aldermen decided against moving up a special meeting
Perhaps even more interesting, are the remarks in the Comments section from Mr. Wise, an apparent Mayoral Candidate for 2013
Wise_for_Mayor2013
What can happen will happen. How right you are Ald. Racz. Regarding the incident at the courthouse, it was not until after it had occurred that, luckily, it was prevented from getting any worse than it did. The security measures that you seek for the PSB will not prevent an incident from occurring, it will merely record it as it is happening. There are serious security issues throughout the entire PSB but, these issues can wait for another time.
There are far more important issues for you and your fellow aldermen to tend to. The communities industrial base is crumbling, businesses are threatened with closure, tax revenues continue to decline and personal hardships abound.
I would ask that you and your fellow aldermen explain to your constituents why it is that camera's for the PSB, gifts for sister city officials and fireworks are more important to the council than doing something that would prevent a complete collapse of the local economy is.
Jim Wise
Click on the following for the rest of the story: Monday agenda includes Boone PSB - Rockford, IL - Rockford Register Star
Michigan-based supplier of engine/transmission modules and instrument panels for Chrysler LLC’s Belvidere assembly plant, will close its Belvidere operation Saturday,
The closing is not a surprise. The company notified its employees in late March that it planned to close the Belvidere plant on May 22 unless Chrysler could make assurances on production.
“To this point, Chrysler has been unwilling or unable to give us any assurance that it will be able to continue its business indefinitely.
A record 12 percent of homeowners with a mortgage are behind on their payments or in foreclosure as the housing crisis spreads to borrowers with good credit.
12 pct. are behind on mortgage or in foreclosure - Kansas City Star
Ford, from which Visteon was spun off in 2000, has committed to support such debtor-in-possession financing for Visteon’s restructuring efforts and to ensure long-term continuous supplies. Ford accounted for about 31 percent of the company’s first-quarter product sales.
Visteon Files for Chapter 11 Protection - DealBook Blog - NYTimes.com
Under the terms of the deal, G.M. would sell itself in Chapter 11 and bondholders would receive a 10 percent stake in the newly reorganized company in exchange for about $27 billion in bonds. They would also receive warrants to buy an additional 15 percent of a new G.M., exercisable if G.M.’s value rises to certain levels.
the proposal depends on the government getting enough bondholders to make statements of support backing the terms of the swap. Without those statements, which are due by Saturday, the amount of stock and warrants for bondholders would be “substantially reduced or eliminated.”
