False Rumor: The Corvette ZR1 is Not Dead... Rumors are "Not True"

Yesterday DigitalCorvettes started a rumor that GM had stopped production of the Corvette ZR1 and that the car had been killed. Well today those rumors have been put to rest by Terry Rhadigan ), Chevrolet’s manager for global communications.

Rhadigan recently told Autoblog that the rumors were "Not True." GM still has orders for the ZR1 and production is going to start up again next week.

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GM Halts Corvette Production Due to the Poor Economy

GM is going to halt production of the Chevy Corvette for a week starting Oct. 6th due to the economy and the ongoing automotive recession.

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White House Loan Deal For Not-So-Big Three Is "Bankruptcy Lite" [Carpocalypse Now]

The bailout loan's no longer just a $15 billion bridge loan for the not-so-Big Three to make it until the Obama administration, it's actually "bankruptcy lite." It's also a really good idea.

Take a look at the stakeholders in the $15 billion bridge loan legislation for the Detroit automakers and you'll see why there's no clear message coming from anyone on the not-a-bailout; the automakers no longer have clout in D.C., the House Democrats seem fixated on making the not-so-Big Three into "Big Green," House Republicans are busy offering an alternative non-"ass-backwards" plan in the House that would have the Feds provide insurance which would cover up to 50% of losses of new investment in case of a default or bankruptcy. Senate Republicans, led by Sen. Shelby (R-Foreign Autobama) on the other hand are just eager to find a way to kill the UAW with some cockamamie scheme similar to House Republicans.

We guess given every other stakeholder's got both hands tied behind their backs (mostly of their own doing) or is completely without a clue when it comes to economics (Sens. Shelby and Ensign, we're looking at you), we shouldn't be surprised it was the lame duck White House that would actually craft a realistic message on the proposed bill. In the span of one press conference, White House Deputy Chief of Staff for Policy Joel Kaplan changed the message of the bill being a bridge loan for the not-so-Big Three to make it to the waiting hands of the Obama administration into what it should have been all along — "bankruptcy lite."

What this "bankruptcy lite" bill would provide the short-term financing the Detroit automakers need to give them an opportunity to do what we've said they need to do, take a few months to work with all the parties — UAW, dealers, suppliers, etc. — and get a realistic cost structure put in place before March 31st, 2009. At that time the "car czar" appointed by the President would either accept the plan presented by GM and Chrysler, come up with his own plan, or say "screw you two" to both and call back the collateral put down for the loan.

The plan makes sense to us, and it probably makes sense to the American people.

Photo Credit: CHRIS KLEPONIS / AFP

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Chrysler won't suspend NASCAR program, will reduce funding

Filed under: Motorsports, Chrysler, LLC., Dodge, Ford, GM, Toyota

A rubber bullet has been dodged: NASCAR can still count on sponsorship dollars and involvement provided by the Detroit 3. Chrysler has stated that it will reduce the funds that flow from its taps into NASCAR, but won't leave the sport. As far as marketing and advertising goes, the "stock cars" still pay. Mike Acavitti, who runs the motorsports program at Dodge, said "We have to get our expenses in line with our revenues," but also said that "We're not going to pull out. We are going to throttle back. NASCAR is not exempt from anything else that we do to market and promote vehicles."

Chrysler is cutting back 30% on its NASCAR spend, but will still honor its current contracts. Ford has said it's reducing its NASCAR fund by 20%, and GM says that it, too, will be doling out a smaller NASCAR allowance and letting track sponsorships lapse to go along with its getting out of the Yankees business. Even Toyota plans to spend less on NASCAR. No matter what, though, NASCAR isn't going anywhere -- after all, even if all of the car companies and all of the other sponsors left, the guys in the overalls could always race, you know... stock cars.

[source: Reuters via Speedzzter]

Chrysler won't suspend NASCAR program, will reduce funding originally appeared on Autoblog on Thu, 18 Dec 2008 19:39:00 EST. Please see our terms for use of feeds.

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Twin-Black 2010 Chevy Camaros Caught in Tampa

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Shareholders blast Wagoner on huge salary and bonuses

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Would the Corvette be in your Top 10 of American Inventions?

A Top 10 list has been assembled to rate the ten quintessentially American Inventions by Askmen.com. There have been so many inventions to come from this most inventive land that narrowing out the Cotton Gin, Peanut Butter and Fantasy Football from the list would prove difficult. However the folks at Askmen succeeded on their own terms in creating a Top 10 and the Chevrolet Corvette just made it in at number 10.

The Corvette was a revolution for the car industry and since its introduction in 1953 there have been only 6 body styles released (labeled as C1-C6). The 7th design of the Corvette is scheduled to be introduced in 2010, which amazingly is not very far from now.

As inventions go the Corvette is truly as American as Baseball; which happens to be number 5 on the list of American Inventions. It is only fair since Baseball has been around twice as long as the Corvette.

Here are the Top 10 American Inventions as selected by Askmen.com

1.   The Presidency
2.   Jazz
3.   The Steamboat
4.   Blue Jeans
5.   The Airplane 
6.   Baseball
7.   The Western
8.   The Colt .45
9.   Bourbon Whiskey
10. Corvette

How would your Top 10 list of American Inventions differ?

Source[AskMen]

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