GM Inks Deal With H-P and 4 Auto Stocks Making Headlines Now
Ford Motor Co. (NYSE:F): Ford Motor Co. is recalling more than 154,000 Fiesta subcompacts to fix a problem with the side air bags. The company said that if the front passenger seat is empty, the side air bag won’t inflate to protect rear-seat passengers in some crashes. Ford asserted that they do not know of any crashes or injuries linked to the problem. The recall affects Fiestas from the 2011-13 model years. They were built in Mexico from November 3, 2009 to September 21, 2012. Dealers will reprogram the computer that controls the side air bag so it inflates, even if no one is in the front passenger seat. The repair will be done for free.
General Motors Company (NYSE:GM): General Motors Company and Hewlett-Packard (NYSE:HPQ) announced new multi-year project services and software contracts that will accelerate GM’s ongoing Internet Technology transformation efforts. The agreements provide GM a cost-neutral solution in which 3,000 HP employees already working on GM’s business will transition to the auto company’s employment rolls. As previously announced, GM is moving from a highly out-sourced to a largely in-sourced business model, changing the mix so more employees are focused on innovation rather than operations. As part of this, GM has announced new IT innovation centers in Austin, Texas, and Warren, Michigan, with the locations of two more centers yet to be announced. GM also has purchased HP’s IT Performance Suite, Enterprise Security Suite, Vertica and Autonomy Software, all of which the company said will further accelerate the transformation of applications development, support, and high-performance operations computing capabilities.
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Toyota Motor Corporation (NYSE:TM): According to Reuters, Toyota Motor Corporation may cut their 2012 group-wide production plan by about 2% because of a drop in sales in China. Bloomberg reported that Lenovo Group (LNVGY) said the slowing demand in the PC market where they have passed Hewlett-Packard (NYSE:HPQ) to become the global leader last quarter, is a good reason for them to expand into smartphones.
Tesla Motors, Inc. (NASDAQ:TSLA): According to the San Francisco Chronicle, Tesla Motors, Inc. has launched a program for Roadster owners who want to trade in their old car for a new Model S.
A123 Systems, Inc. (NASDAQ:AONE): According to Bloomberg, the Chinese auto-parts maker Wanxiang Group, who once bailed out A123 Systems, Inc. which recently filed for bankruptcy protection, said that they remain interested in taking over the company. The automotive business asserted that A123 announced that they will sell to Johnson Controls (NYSE:JCI). This is separate from what Wanxiang had targeted.
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