These photographs by Yves Marchand and Romain Meffre were able to capture the beautiful, yet awful decline of the motor city.
French President Nicolas Sarkozy said on Thursday the state would put “a lot of money” into the struggling car industry.
“We are working with the car sector, car makers and their suppliers, to get out of this situation and to finalize a plan by the end of January,” Mr. Sarkozy said.
“That means that we will be ready to give the necessary support, in the form of loans or guarantees, to compensate for the blockage in the financing of companies…but we will clearly ask them for an end to offshoring, and even the reinforcement of their activities in France,” he said.
Unveiled at the Detroit Auto Show, the 2010 Toyota Prius is the first - and so far only - car in the US to get mileage greater than 50 miles per gallon. This third-generation model is even bigger and more powerful than its predecessors. Read more…
The big carmakers will be begging Congress for a $50B loan, this immediately after the Government takes over control of Fannie Mae and Freddie Mac, the two mortgage giants who account for about 9 mortgages out of 10 in the USA.
Read more about the carmakers plea:
Auto industry allies hope to secure up to $50 billion in government loans this month that would pay to modernize plants and help struggling car makers build more fuel-efficient vehicles.
With Congress returning this coming week from its summer break, the industry plans an aggressive lobbying campaign for the low-interest loans. The situation is growing dire after months of tumbling sales, high gasoline prices and consumers’ abandoning profitable trucks and sport utility vehicles.
Lawmakers authorized $25 billion in loans in last year’s energy bill to help the companies build fuel-efficient vehicles such as hybrids and electric vehicles. With credit tight, automakers and suppliers now want lawmakers to come up with the money for the program — and expand the pool of money available to $50 billion over three years.
TROY, Mich., Feb. 21 /PRNewswire-FirstCall/ — PPG Industries announced that Chrysler LLC named it the top-performing supplier of exterior systems in the automaker’s 2007 Supplier Pentastar Awards. PPG, a leading supplier of coatings and glass products to Chrysler, was honored for performance based on Chrysler’s External Balance Scorecard — a fact-based system that rates suppliers on quality, technology, cost and delivery.
Larry Walker, Chrysler director, exterior procurement, presented the Supplier Pentastar Award to Bill Wulfsohn, PPG senior vice president, coatings, during a ceremony at the Detroit Fire Department’s 1929 Firehouse. Also in attendance were: Frank Archinaco, PPG president, CEO, auto glass and services; Dennis Kovalsky, PPG vice president, automotive coatings; Joe Stas, PPG vice president, auto OEM glass; Tim Knavish, PPG general manager, Americas, automotive coatings; and Ron Nakamura, PPG global director, Chrysler team.
“PPG has differentiated itself from all other exterior systems competitors in 2007 in terms of quality, technology, cost and delivery,” Walker said. “PPG consistently provides world-class products and on-site support to all Chrysler assembly plants.”
Wulfsohn said, “We are proud to be recognized by Chrysler for our commitment to innovation, product quality and service excellence. PPG looks forward to continuing this partnership for years to come and hopes to play an important role in Chrysler’s ongoing success.”
PPG’s Automotive Coatings business unit provides a comprehensive line of coatings products and services to Chrysler, while PPG’s Automotive Glass business unit provides a wide array of glass products to the automaker.
On the forefront of innovation in decorative and protective coatings, environmental application concerns and advanced automotive glazing systems, PPG helps automakers enhance the exterior appearance and overall performance of vehicles for consumers.
About PPG
Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company has more than 150 manufacturing facilities and equity affiliates and operates in more than 60 countries. Sales in 2007 were US$11.2 billion. PPG shares are traded on the New York Stock Exchange (symbol: PPG). For more information, visit www.ppg.com.
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