JPMorgan Chase to Buy Washington Mutual

After a long struggle and seeking for a buyer Washington Mutual was sold yesterday to JPMorgan, when it was announced that the nation's largest savings and loan would be bought by an even larger rival, JPMorgan Chase .WaMu customers are not expected to see any disruption in service. The deal, brokered by federal regulators, resolves the largest bank failure in U.S. history. WaMu had $310 billion in assets. Are we entering an era that only the strongest can survive?


http://www.businessweek.com/bwdaily/dnflash/content/sep2008/db20080925_760466.htm?chan=top+news_top+news+index+-+temp_news+%2B+analysis

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GM to double production of fuel-efficient engines

GM announced that the production will be doubled for the fuel efficient cars . Most of the production will be made in north America because GM has faced a serious drop in demand for its gasoline guzzling trucks and sport vehicles. In my opinion this process should have happened 20 years ago. Instead, GM is very enthusiastic about its new Chevrolet Volt and already doubling the production before they got a feedback from the market, probably another mistake.

General Motors putting Hummer brand and French factory up for sale

GM decided to put the hummer brand on sale. The Hummer began to be more and more expansive for the consumers because of the gas, Which creates a decrease on the Hummer sales. I believe that this will be a smart move for GM, I assume GM is starting to change its face.
URL:http://canadianpress.google.com/article/ALeqM5iURSxo9rT8-la1KwVVQHCwi35RkQ

GM punting on Super Bowl

After losing to the San Francisco 49ers Sunday, the Detroit Lions are 0-3 and look to be a lock to miss the Super Bowl for the XLIIIth time.
General Motors, another dented Motor City icon, won’t be playing in the big game either come February.
The world’s largest automaker said today that it would take a pass on the world’s biggest advertising venue in yet another move aimed at saving money. GM, an "official sponsor" of the NFL and one of the big game’s biggest advertisers, said it would confine its promotional spending to the considerably less expensive -- and less viewed -- pre- and post-game shows. It looks like GM is waking up and try to focus its promotion more efficiently.

Volt may not be 100% American

General Motors CEO Rick Wagoner last week offered no guarantee that the auto giant would use American-made batteries in its new electric-powered car, the Chevrolet Volt, even as Detroit automakers pressed for $25 billion in U.S. government loans to support the development of advanced-technology vehicles in this country. Most of the products are brought from china, from GM's side it is legitimate to do that, but since the batteries will not be produced in U.S.A it will affect the U.S economy.

The good oil: GM turns 100

US automotive analysts counting down to General Motors' 100th birthday next month say there's one thing certain about the next 100 years: the company's very existence could depend on the Chevrolet Volt, its new electric car. GM trotted out a prototype Volt in Detroit the other day, describing it as "more than 95 per cent" representative of what the company hopes to start selling in 2010. It says the Volt is an "extended-range electric vehicle" that uses a small petrol- or ethanol-powered engine to back up its lithium-ion batteries. I think that GM must develop their prototype even more to extend the electric range for more than 40 miles.