Tag: closes

GM stock closes at $34.19 after first full day of trading

Filed under: Government/Legal, GM, Earnings/Financials

The first day of a new era for General Motors has ended. The automaker released its IPO this morning on the New York Stock Exchange, and after reaching a high of $35.85 around 10:45AM EST, the stock price slowly retreated back to earth and settled on $34.19 for a closing price. Sure, you might see a downward trending line on the above graph, but GM can celebrate the fact that its stock price still ended the day more than a dollar above the $33 at which the IPO was priced to kick things off, a respectable rise of 3.6%.

Now that the day ended, President Obama has planned a quick preference to talk about General Motors that’s starting as we speak. You can watch it live on the Whitehouse.gov website.

[Source: Daily Finance]

GM stock closes at $34.19 after first full day of trading originally appeared on Autoblog on Thu, 18 Nov 2010 16:16:00 EST. Please see our terms for use of feeds.

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IndyCar: Sparks fly as thrilling Indy 300 closes season [SPOILERS]

Filed under: Motorsports, Honda, Racing

Indy 300
2010 Cafes do Brasil Indy 300 – Click above for high-res image gallery

Heading into the final race of the 2010 IRL IZOD IndyCar Series Championship, early championship leader Will Power clung to a 12-point lead over the fast-closing Dario Franchitti. The two drivers had each been strong on ovals or road courses, but not both. Franchitti was crowned the oval champ, earning the A.J. Foyt trophy, while Power had won the road race crown, picking up the Mario Andretti trophy. Power had shown a level of dominance through the mid-season road and street races that made his title lead look insurmountable. But Franchitti racked up more points in the latest oval races as Power struggled to get good results.

That brought the title fight down to the last race of the season at the Miami-Homestead oval: The Cafes do Brasil Indy 300. Follow the jump to see who took the 2010 IndyCar Championship and how it came to be.

Gallery: IndyCar: 2010 Cafes do Brasil Indy 300

[Images: Chris Graythen, Nick Laham/Getty | Alan Diaz, Terry Renna/AP]

Continue reading IndyCar: Sparks fly as thrilling Indy 300 closes season [SPOILERS]

IndyCar: Sparks fly as thrilling Indy 300 closes season [SPOILERS] originally appeared on Autoblog on Sun, 03 Oct 2010 10:11:00 EST. Please see our terms for use of feeds.

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Report: NY Hydrogen station used by GM explodes, closes airport *UPDATE

Filed under: Etc., Safety, Technology, GM

YNN News coverage of NY hydrogen station explosion

Hydrogen faces a number of challenges when it comes to supplanting gasoline as the world’s transportation fuel of choice, one of the largest of which was underscored by two small explosions at a Rochester, New York refueling station yesterday. According to reports, two people were injured when a spark ignited the fuel during a tank exchange. Praxair driver Robert Scruggs was transported to Strong Hospital with second-degree burns to his hands and face as a result of the incident, and a female Burger King employee was treated for ear pain in connection with the explosions.

According to local news outlets, Praxair is a supplier for General Motors’ fleet of hydrogen vehicles, which refuel at the Rochester station. Autoblog has contacted GM to confirm that this is the same station that the company’s fuel-cell Sequel Equinox vehicles use, but we had not heard back as of publication time.

The Greater Rochester International Airport was closed for about 50 minutes due the explosions, and some flights were diverted mid-air while authorities sorted out the cause of the incident. Click on the YNN link below for local news video coverage, as well as on the Rochester Democrat and Chronicle for more information.

*Update: GM spokesperson Scott Fossgard said that the company’s fleet of hydrogen fuel-cell vehicles have logged over 1.6 million miles with over 16,000 hydrogen fill ups by over 800 drivers. In all of that time, the company has never had an incident like the one in Rochester. While the GM fleet uses the filling station to top off its vehicles this incident did not involve any of GM’s vehicles, personnel or customers.

[Sources: YNN, Rochester Democrat and Chronicle]

Report: NY Hydrogen station used by GM explodes, closes airport *UPDATE originally appeared on Autoblog on Fri, 27 Aug 2010 13:29:00 EST. Please see our terms for use of feeds.

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Volkswagen closes purchase of 90.1% of Italdesign Giugiaro

Filed under: Volkswagen, Design/Style

1974 Volkswagen Scirocco designed by Giorgetto Giugiaro

The Volkswagen Group has completed its takeover of Italdesign Giugiaro (IDG) with the purchase of a 90.1 percent stake in the design studio. The shares in the company were purchased by Lamborghini – “owned” by VW Group member Audi – and the remaining 9.9 stake is still in the hands of the Giugiaro family. The buyout was originally reported back in May of this year and the studio/small volume manufacturer are now part of the ever-expanding auto conglomerate. The top management of the company, including founder/chairman Giorgetto Giugiaro and his son and vice-president Fabrizio, remain in place.

Volkswagen and IDG have a relationship going back decades, when the elder Giugiaro penned the 1970 Volkswagen Porsche Tapiro Concept as well as the first generation Golf and Scirocco. It’s unclear if IDG will continue working with outside clients or will now dedicate itself to VW Group projects.

Gallery: Italdesign Volkswagen Concepts

[Source: Volkswagen]

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Volkswagen closes purchase of 90.1% of Italdesign Giugiaro originally appeared on Autoblog on Mon, 09 Aug 2010 14:32:00 EST. Please see our terms for use of feeds.

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