In our garage: 2009 Ford Mustang Bullitt

A new test car magically showed up in our garage. This suave looking guy in a tweed jacket and blue turtleneck tossed us the keys to his green mustang and asked us to keep an eye on it. He said he had to go take care of some baddies in a black Dodge Charger.

So in case you missed our reference to the 1968 movie Bullitt staring the king of cool Steve McQueen. We're fortunate enough to have landed one of the absolute LAST 2009 Bullitt edition Mustang GTs left in the country.

Checking out the window sticker we have an order code 140A Premium GT Coupe in Highland Green Metallic. Standard fare includes the interior upgrad package, Sirius sat radio, ambient lighting, 18 inch gunmetal Bullitt Wheels, the rear spoiler delete option, GT security package, HID headlights, the Bullitt package which includes the interior upgrade machine finish, 3.73 ratio limited slip rear axle, the 18 inch Bullitt wheels, packed exhaust tips, and a foglightless and ponyless grille. Our car also comes equipped with the Shaker 1000 stereo system.

What isn't mentioned on the window sticker is the performance upgrades to the Bullitt. This includes a Ford Racing strut tower brace with a special Bullitt number plate bearing the logo, VIN, and serial number of the car. Ours is 6045. A Ford Racing cold air intake, exhaust system, lowered suspension, beefed up front brakes and Shelby rear brakes round out the mechanicals.

Moving inside we find a stunning machine turned finish to the aluminum dash accents, an aluminum short throw shifter, supple charcol leather seats with power adjustment for the driver with lumbar control, aluminum pedal covers, and a leather wrapped steering wheel direct from the Shelby GT500.

Turn the key and the 4.6 liter V8 roars to life sounding much like its 1968 movie counterpart. The V8 is rated at 325 HP, which is 10 more than a stock GTs 315HP. With the 3.73 rear end, the Bullitt can really get up and go and catch any fleeing bad guys in short time. We still haven't emptied the tank on it to see where we're averaging for miles per gallon. The on board computer is saying 16 so that's a little better than the 15 City / 23 Highway on the sticker.

Having driven the car for a week now, and having driven a stock 09 GT, a 2010 GT(more later), and a handful of other Mustangs including Shelby, Roush, and Saleen. I will say that the Bullitt offers the best bang for the buck. Our Bullitt tops out at $34,675 with the big ticket item being the Shaker 1000 at $1,295. You get a lot of performance goodies as standard equipment. Stay tuned for more updtates.

As official as it is going to get. General Motors files for bankruptcy

We're experiencing history folks. General Motors, the largest auto manufacturer and one of the worlds largest corporations has officially filed for bankruptcy in the United States Bankruptcy Court.

We are awaiting a press conference from President Barak Obama regarding GM, and we will bring updates as they become available.

We do know that Chairman Fritz Henderson WILL continue to lead GM through bankruptcy. The fate of Saturn, Hummer and Saab is still up in the air at this point. Going through bankruptcy, GM will carry Chevrolet, Cadillac, Buick, GMC Truck. Hummer, Saturn, Saab and Pontiac will be either phased out or sold.

The New York Stock Exchange was showing GM stock valued at $.75 cents late last night with morning trading showin $.70, though it has steadily gone back up all morning. Currently it is trading at $.98 cents per share.

General Motors to declare bankruptcy tomorrow

Tomorrow will be a truly sad day for the automobile industry. General Motors, the largest automobile manufacturer in the world, bankrupt. It just doesn't make sense saying it, even though we've been talking about it for months now.

General Motors was once THE company to watch in the industry. You could have said, what General Motors wants is what America wants. Unfortunately that isn't the case any more. Poor management decissions and the inability to keep up with market trends led to yearly losses in the billions of dollars. Couple that with legacy costs, the UAW, and the failure to restructure after government loans to the tune of $20 billion and we're left with the smoldering pile of goo that was once General Motors.

The saddest part is the loss of some great GM brands. We lost Oldsmobile in 2004. Hummer and Saab had been up in the air for the last 6 or so months, Saturn was poisoned by GM management over the last 15 + years. Opel is being divided up. And the biggest blow, Pontiac. Finally when Pontiac is making some great, fun cars they get the rug pulled out from under them.

This leaves GM with just Chevrolet, Cadillac, Buick, and GMC truck. I doubt we'll see the giant of GM that once was in the 1950s and 60s.

Stay tuned for more info as it becomes available.

Chrysler names C. Robert Kidder as Chairman of Chrysler LLC

Bob "The Builder" Nardelli will be stepping down from his post as Chairman of Chrysler LLC when a new leaner Chrysler emerges. We won't be too critical of Mr. Nardelli in the fact that he really didn't grow Chrysler all that much, as that would take an entire blog all to itself.

Rather we'll focus on the new Chairman of Chrysler LLC, C. Robert Kidder formerly of the Borden Chemical Inc. and Duracell Batteries. Mr. Kidder has a very impressive resume and will be a welcome face to the new Detroit Michigan when its all said and done.

Source: Chrysler LLC

Press Release:

C. Robert Kidder to Become Chairman of Chrysler Group LLC

Auburn Hills, Mich., May 20, 2009 -

Chrysler LLC today announced that C. Robert Kidder, former Chairman of Borden Chemical Inc. and of Duracell International Inc., will become Chairman of Chrysler Group LLC, once it completes its acquisition of the operating assets of Chrysler LLC and completes a global alliance with Fiat SpA. He will succeed Robert L. Nardelli.

"We are most fortunate that Bob Kidder will lead the new company through its transformation," said Nardelli. "My number one priority has been to preserve Chrysler and the livelihoods of thousands of people who depend on its success. With his broad expertise serving on numerous world-class boards and his accomplished business background, Bob will provide the leadership and strategic counsel that will help to create a strong global competitor moving forward." With more than 40 years of experience, Kidder currently serves on the boards of Morgan Stanley, where he is the lead director, Schering-Plough Corporation, and Microvi Biotech Inc. He previously has served as Chairman and Chief Executive Officer of both Duracell International Inc. and Borden Chemical Inc. and as director of such companies as Electronic Data Systems Corporation and General Signal Corporation. During his tenure with McKinsey and Co. Inc., Bob worked with a major OEM client in the automotive industry. Bob currently is Chairman and CEO of 3Stone Advisors LLC, an investment firm that focuses on clean-tech companies. He holds an M.S., Industrial Economics from Iowa State University and a B.S., Industrial Engineering from the University of Michigan. He resides with his family in Columbus, Ohio.

“I am pleased to join Chrysler at a time when Chrysler is poised to launch an exciting new era,” said Kidder. "I am confident that Chrysler will emerge from Chapter 11 a lean and powerful competitor, combining its own rich history of innovation with Fiat's technology and expertise to invigorate the American car market and to challenge other car companies around the globe." Chrysler LLC announced on April 30, 2009, that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it had reached an agreement in principle to establish a global strategic alliance with Fiat to form a vibrant new company. On the same day, Chrysler LLC and 24 of its wholly-owned U.S. subsidiaries also filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy Code in U.S. Bankruptcy Court for the Southern District of New York. Chrysler also filed a motion under Section 363 of the Bankruptcy Code requesting the swift approval by the Court of the agreement with Fiat and the sale of Chrysler's principal assets to the new company. The benefit of this type of filing is speed. It will allow a leaner new company to emerge in less than 60 days from the time of filing, well positioned for long-term viability.

Nardelli, Chrysler's Chairman and CEO since August 2007, announced on April 30 his plan to leave the company following the completion of the transactions. He will return to Cerberus Capital Management LP as an advisor. He said that it was "an appropriate time to let others take the lead in the transformation of Chrysler with Fiat, and I will work closely with all of our stakeholders to see that this new company swiftly emerges with a successful closing of the alliance." As stated in the terms of agreement, upon successful completion of the alliance, a board of directors for the new company will be appointed. The majority of the directors will be independent (not employees of Chrysler or Fiat). The board will select a CEO with Fiat's concurrence. A complete biography of C. Robert Kidder is available at: http://www.media.chrysler.com/.

NADA responds to GM dealer announcement

The National Automobile Dealers Association won't go quietly into the night. They are continuing to fight for the Chrysler dealers who were cut yesterday, and the announcement earlier regarding General Motors announment with the reduction of some 1100 GM dealers by the end of 2010.

Source: NADA

WASHINGTON (May 15, 2009) -- General Motors’ plans to cut its dealer network are drastic and far-reaching and will impact more than 63,000 dealership employees and thousands of their sales and service customers.

We view GM’s action with a profound sense of sadness and disappointment.
GM’s decision comes through no fault of the dealers, who are, in many cases, family-run businesses that have been loyal partners with GM – through good times and bad – for multiple generations.

NADA fully expects GM to honor all its obligations to the affected dealers, whether or not they decide to wind down their operations. It’s critical for GM to treat each affected dealer fairly and equitably.

NADA will work aggressively on all fronts with regard to assisting these dealers during these historically challenging times.

GM dealer network update

General Motors is going a different route than Chrysler LLC in regards to their dealer network. Rather than just say adios, you're done. GM is electing to not renew sales and service agreements with 1100 dealers when they come available for renewal in the 4th quarter of 2010.

Dealers targeted were stores that have poor annual sales 35 units or less per year. That makes up 400-500 of the dealers. The rest are not meeting their required sales and service performance, CSI, etc. that are performing below average. These 1100 dealers make up 7% of GMs yearly sales.

There are about 500 dealers who are dedicated to Hummer, Saab & Saturn brands. There will be a further update regarding these brands and those dealers in the next week or so. General Motors North America Vice President Vehicle Sales, Service and Marketing, Mark LaNeve did make it clear that dealers of these three brands "will exist outside of General Motors next year".

It was made clear that without GM filing bankruptcy, that these letters will be hard to enforce. This is why GM is putting the options into the dealers hands to enforce whether to wind down business and close, or find another brand to carry.

GM's intentions are to land somewhere in the neighborhood of 3600-4000 dealerships.

"This is one of the most difficult decissions we have as part of our restructuring" LaNeve said.

Press Release:

In conjunction with conversations General Motors started with its U.S. dealers today, GM issued the following statement -->

GM Statement Regarding Dealer Network Communications

As noted in our recent S-4 filing and updated Viability Plan, General Motors plans to reduce its dealer network from 5,969 stores today to approximately 3,600 by the end of 2010.

This process starts today, as GM begins contacting dealers regarding its long term planning. Approximately 1,100 underperforming and very small sales volume U.S. dealers will be advised that GM does not see them as part of its dealer network on a long-term basis. In most cases, existing franchise agreements run through October of 2010.

In addition, we will be updating about 470 Saturn, HUMMER and Saab dealers on the status of those brands and we will be discussing how the remaining dealers will support our retail plans going forward. While additional cuts will be made, we believe the vast majority, over 90 percent, of the remaining dealers will be offered a chance to remain with GM. However, specific dealer issues, further attrition and additional possible dealer network actions are expected to bring the number of future GM dealers to around 3,600 by the end of 2010, as described in the Plan. The actual number could vary given levels of attrition, etc. outside of GM’s control.

“We have said from the beginning that our dealers are not a problem but an asset for General Motors,” said Mark LaNeve, GM Vice President of Sales Service and Marketing. “However it is imperative that a healthy, viable GM have a healthy, viable dealer body that can not only survive but prosper during cyclical downturns. It is obvious that almost all parts of GM, including the dealer body, must get smaller and more efficient.”

“In response, we are letting them know about our long term plans. GM’s viability plan calls for fewer, stronger brands as well as fewer, stronger dealers. We have taken a very difficult step by identifying those dealerships we’d like to keep in the GM dealer network and those with whom we will have to wind down our business relationships,” LaNeve said.

As independently owned businesses, dealer owners will make their own decisions if and when they want to make this information public. GM is not releasing the names of any dealers.

“We are not terminating any dealerships today,” LaNeve clarified, “We will be talking to all of our dealers over the next few weeks, letting them know now in the spirit of open communication, so they are advised well in advance, about our long-term plans and their role in them. Long term, GM should have fewer, healthier dealers, maintaining GM’s current high customer satisfaction ratings, with more sales per outlet.”

GM to cut 1100 dealers today

Following in the steps of Chrysler LLC yesterday, General Motors is planning to announce the closure of 1100 GM dealerships this afternoon. A press conference call is scheduled for 12 noon. We will update you with further details as they become available.