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Hummer sale agreed

GM has a Memorandum of Understanding in place to sell Hummer to a 'Mystery' buyer GM are reporting that they have reached a ‘Memorandum of Understanding’  with an unnamed buyer to take Hummer of their hands later in the year. MOUs are not the strongest tool in the arsenal when a sale is being arranged, which tends to indicate that either the buyer likes the idea but won’t commit yet, or they are still in ‘Fund-Raising’ mode. So who are the likely buyers?

Magazine names Ford's Alan Mulally top CEO

Ford Motor Co. CEO Alan Mulally has been named CEO of the Year by Chief Executive magazine. What set Mulally apart, according to the selection committee, was not only leading the turnaround of an American icon without the government bailout funds given to its competitors, but also a mix of other behaviors and accomplishments.

Hyundai PassoCorto coming to Geneva

Hot on the tailpipes of the Kia GT4 Stinger's debut in Detroit comes word of an even racier-looking two-seater from parent company Hyundai – the PassoCorto. Built by and for Gen Y car enthusiasts, the PassoCorto was styled by 16 students in the Master's program of transportation design at the Istituto Europeo Design (IED) in Turin. The students were tasked by Hyundai Design Center Europe with making “…the car that would be on top of their list for buying and driving.” We don't know any Gen Ys who could fork over close to $60,000 for a car, the cost of the similarly-sized Alfa 4C, but we know plenty who would like to have one.