GENERAL MOTORS RECALL - GM RECALL effects 1.4 Million cars

GENERAL MOTORS RECALL
GM is recalling 1.4 million vehicles because of a problem with an oil drip in the engine that could lead to a fire.

GENERAL MOTORS says the engines in the vehicles can drip oil into the wrong place and start a fire in the engine compartment. The GM cars included in the GENERAL MOTORS RECALL are:

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1997 - 2003 Buick Recal
2000 - 2003 Chevy Impala
1998 - 1999 Chevy Lumina
1998 - 2003 Chevy Monte Carlo
1998 - 2000 Oldsmobile Intrigue
1997 - 2003 Pontiac Grand Prix

If you own one of the listed GM vehicles, you're advised to take it to the dealer so it can be repaired.



General Motors Corp. is recalling 1.5 million vehicles in the U.S. to fix a glitch in an engine component that may cause oil to leak and lead to a fire.

The move includes certain Buick, Chevrolet, Oldsmobile and Pontiac cars from model years 1997 to 2003, the National Highway Traffic Safety Administration said on its Web site.

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Oil could drop on the exhaust manifold, posing a risk of engine fire. The recall for Detroit-based GM will begin in May, the agency said.

The recall affects Buick Regals from model years 1997 to 2003; Chevrolet vehicles including 1998 and 1999 Luminas, 1998- to-2003 Monte Carlos and Impalas from model years 2000 to 2003; the 1998 and 1999 Oldsmobile Intrigue; and some Pontiac Grand Prix cars from model years 1997 to 2003.

2010 Camaro SS

At first glance, the 2010 Camaro SS makes us feel like we’ve stepped back in time to a more innocent era when gas was cheap. Yet the 2010 muscle car is more than just a retro-mobile.

It’s the long-awaited revival of General Motors’ classic American pony car. First seen in 1967, the iconic design that GM designers have liberally borrowed from debuted two years later.

Sure, it’s got the bones of the most popular Camaro in the brand’s long history, with its egg-crate grille, Coke-bottle silhouette and the muscular kick-up of its rear shoulders. But this is a decidedly modern interpretation, taking advantage of state-of-the-art engineering and technology. The long side aperture, for example, running front fender to rear, is stamped from a single piece of steel, a task impossible during the classic muscle car era.

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The “halo rings” around the headlights add a decidedly contemporary touch as well.

The 2010 SS is the most powerful version of the new Camaro and the only one with a V-8, in this case, turning out a solid 426-horsepower and 420 pound-feet of torque with the manual transmission.

With the new 6-speed automatic, the engine had to be detuned slightly to 400 horsepower and 410 pound-feet. But with the auto box you get cylinder deactivation, which shuts off four cylinders during low power demand, improving highway mileage to 16 city/25 highway, from 16/24 for the stick.

If you’re willing to sacrifice performance for fuel economy, the still sporty Camaro LS and RS models get 30 mpg on the highway out of their V-6s.

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The new Camaro SS will turn 0 to 60 times in 4.7 seconds, despite its 3,800-pound heft, which is notably quicker than domestic competitors like the Dodge Challenger and Ford Mustang GT, as well as the new Nissan 370Z. But the Chevy coupe delivers more than just straight-line performance, in part because of its new, independent rear suspension.

The 2010 Camaro SS is arguably the best version of the pony car in more than 40 years, and it will give challenge to just about anything in its class. Sadly, the planned convertible version has been delayed and the even more powerful Z28 model has been cancelled. But expect to see the SS burning rubber as it flies out of dealer showrooms.

2010 CHEVROLET CAMARO SS
Miles per gallon: 16 city/24 highway with six-speed manual, 16/25 with six-speed automatic.

Engine options: 6.2-liter LS3 V-8, 426 hp/420 pound-feet, with manual; 400/410 with automatic.

Manufacturer’s suggested retail price (base): $30,995.

Cost fully loaded: $35,000.

SWEDISH AUTOMAKER SAAB FILING FOR BANKRUPTCY

STOCKHOLM (AP) Saab has filed for bankruptcy protection and intends to split from its troubled parent company, General Motors.

GM had asked Sweden for government help for Saab but had to take 'no' for an answer.

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With no help forthcoming from Sweden's government, Saab has filed for bankruptcy protection. The goal is to split from its parent company, General Motors. GM says its exploring all options.
General Motors' subsidiary has filed for reorganization, a step taken to stave off bankruptcy protection.

General Motors' Swedish subsidiary, Saab, confirmed on Friday that it has filed for reorganization, a step to avoid bankruptcy protection, as the company seeks to pay down pending debt and return to profitability.

"I can confirm that Saab has filed for reorganization. It is not a bankruptcy situation. The aim is to have Saab as a freestanding entity," a spokesman for the firm told Forbes.

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SAAB is seeking funds from both public and private sources but will operate as usual with government funding during the reorganization process.

Under Swedish law, when a company files for reorganization, it means that it is looking for ways to raise capital to pay off debt. One of the solutions a company might consider is seeking a buyer to could acquire an equity stake.

The legal process will be headed by an independent administrator appointed by court as the company seeks funds from both private and public sources, TradeTheNews.com reported. Saab will operate as usual, with the central government providing assistance during the process, which will be executed over a 90-day period.

The Swedish government has categorically denied the possibility of buying equity in its struggling carmakers. "The Swedish state and taxpayers in Sweden will not own car factories," Industry Minister Maud Olofsson said on Wednesday. "Sometimes you get the feeling that [GM] is a small, small company, but it is the world's biggest automaker, so we have a right to make demands."

Saab builds fewer than 1 million vehicles per year, in contrast to Renault or Volkswagen, whose capacity ranges between 2 million and 3 million cars per year.