Investors who had challenged the bankruptcy sale, including the Indiana State Police Pension Trust, had argued that Treasury
Secretary Timothy Geithner violated the Constitution by using TARP money to finance the sale, and had their arguments overruled
in the appeals court.
Toyota Motor Corp. agreed Monday to pay a record $16.4 million fine for failing to properly notify federal authorities about
a dangerous accelerator pedal defect. The automaker still denies the government's
allegation that it violated the law.
Toyota Motor Corp. is expected to agree to a fine of more than $16 million on for failing to promptly report to the government
problems with sticking gas pedals on its vehicles, a Transportation Department official said.
The specialized vehicle can read license plates, sniff for weapons of mass destruction and see people and animals in
the dark.
The five-year tax break could help bring a new research-and-development program for electric vehicles to Kokomo, creating
118 jobs and saving 72.
BMW has won a contract from Indiana-based Carbon Motors Corp. worth more than $1.35 billion to supply engines for U.S. police
cars.
United Auto Workers local president Rich Boruff says 175 people returned to work at the Kokomo plants on Monday, with about
140 more scheduled to return on March 22.
GM executives said Friday that about 600 dealerships out of the 1,100 seeking to stay with GM will receive letters giving
them the option to remain with the automaker.
The Columbus-based company said Tuesday that the 194 layoffs will take place after Friday, cutting the plant’s employment
to about 400 and paring its two shifts to one.
Unless a last-minute buyer steps forward, General Motors Co.'s Hummer brand is fading into history.
Claims by Toyota in internal documents that it saved money by obtaining a limited recall from regulators in 2007 create an
even bigger challenge for the automaker's president when he testifies before U.S. lawmakers this week over quality and
safety lapses.
City will be among first to conduct demonstration of several plug-in electric vehicles prior to their market
launch next year.
Fort Wayne Foundry Corp. will shutter the auto parts factory for the second time in a year, as its jobs head to Mexico, according
to a union official.
Facing intense scrutiny from the federal government, Toyota is trying a salt-of-the-earth offensive, paying for a group of
its U.S. employees to talk with lawmakers. At least one is from Toyota’s plant in Princeton, Ind.
Indiana Gov. Mitch Daniels and three other governors of states with Toyota plants are calling on Congress to be fair to the
automaker in hearings concerning safety recalls.
The jobs can’t come soon enough for Connersville, where unemployment is at 13.8 percent.
Toyota said Sunday it will soon announce a plan for dealing with braking problems in its Prius hybrid amid reports that the
world’s largest automaker plans to issue a recall for the latest model of the vehicle in Japan.
Beyond the expected plunge for troubled Toyota, U.S. car sales sailed along nicely in January, including a 24 percent surge
for Ford and 14 percent gain for GM.
Recalled Toyotas have been yanked from used-vehicle auction blocks, but resale values should be protected if Toyota handles
the
recall with “transparency,” according to a local analyst.
Like most companies that make thousands of parts in automobiles, Elkhart-based CTS Corp. was virtually unknown to the average
car buyer. That was until its gas pedal was blamed for big problems with some very popular cars.
