Editor's Note: Dear readers, today is special (wait - what am I saying?! - every day is special here at Autoextremist!) - very special - because today we are re-running a true highlight from the AE archives. Yes, that's right, this is the famous April Fool's Rant from 2009 - the column that did indeed have many of you fooled, right until the very end. It was a crazy time in the industry (and that's really saying something!) - Chrysler would go on to file for Chapter 11 on April 30, followed by GM on June 1 of that year. Tensions were high, the mode was full-on chaos, and the mood beyond grim. Our April 1st announcement was quite the bombshell that only added to the insanity (and this is one of our Top Three of Peter's columns, all-time). We have included links throughout the Rant below, which provide some historical perspective and updates. WordGirl recommends, however, that you slip into 2009 mode and read the following in its entirety for full effect, saving the links for your second … [Read more...] about NEW AUTO CONGLOMERATE BASED IN CHINA SET TO REDEFINE THE GLOBAL AUTOMOTIVE INDUSTRY; SECRET NEGOTIATIONS RESULT IN STUNNING DEAL TO BUY BOTH GENERAL MOTORS AND CHRYSLER.
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Jordan Blum, Houston Chronicle Updated 9:53 am, Monday, June 18, 2018 Photo: Martin L Vargas, Energy XXI Image 1of/1 CaptionClose Image 1 of 1 Energy XXI, 2015 spending down 14 percent to between $670 million and $690 million Energy XXI, 2015 spending down 14 percent to between $670 million and $690 million Photo: Martin L Vargas, Energy XXI Struggling Energy XXI sold for $322 million 1 / 1 Back to Gallery Houston offshore driller Energy XXI Gulf Coast agreed Monday to be bought by a privately held Dallas company, Cox Oil, for $322 million. Energy XXI emerged from bankruptcy more than a year ago, but continued to struggle financially. The new deal would cancel an agreement reached just a month ago for Virginia-based Orinoco Natural Resources to buy a 35 percent stake in Energy XXI. Energy XXI, which is focused … [Read more...] about Struggling Energy XXI sold for $322 million
James Malaro Jr. bought electricity from a company other than his utility for the first time last fall. The deal quickly went bad.The Centreville man hadn't realized it, but the money-saving rate he'd been quoted was variable, not fixed. It more than doubled during the winter.As more customers and companies jump into Maryland's electricity-purchase market, reports of problems and outright scams are mounting. Maryland's Public Service Commission has seen a more than 50 percent spike in complaints about energy suppliers this year compared with all of last year, including so many about Starion Energy — the company that increased Malaro's rate — that it launched an investigation into the Connecticut firm.But the options for getting a good deal on power are rising, too. Malaro stuck with it: State regulators got him a refund, and he switched to a supplier with a two-year rate guarantee that's saving him some money."I think deregulation's a good idea," said Malaro, a retired … [Read more...] about Electricity market brings choices, deals — and scams
CONCORD, N.C. – Three primary sponsors of Roush Fenway Racing and driver Ricky Stenhouse Jr. have extended their sponsorship agreements through the 2021 season. Fastenal will continue to serve as the anchor partner of the No. 17 Ford driven by Stenhouse and will increase its number of primary races with Stenhouse and the team. SunnyD and Fifth Third Bank will each continue to play a major role with the team, serving as primary partners with the No. 17 in multiple events over the next four seasons. “We are pleased to announce that each of our three primary partners on the No. 17 have signed on with the program through the 2021 season, with Fastenal continuing as the anchor and increasing their number of races,” said Roush Fenway president Steve Newmark. “We’re extremely proud of our relationships with Fastenal, Fifth Third Bank and SunnyD, both personally and professionally, and we’ve been fortunate to work with each to provide on-track performance … [Read more...] about Three Sponsors Renew Deals With Roush & Stenhouse
Baltimore Gas and Electric Co. owner Exelon Corp. closed its merger with Washington-area utility Pepco Holdings on Wednesday, hours after District of Columbia regulators reversed course and voted 2-1 to approve the union.The resolution comes seven months after the Public Service Commission initially rejected the deal and two years after the companies unveiled the proposed $6.9 billion merger. It joins millions of Marylanders under the umbrella of what is now the nation's largest utility, connecting Pepco and subsidiary Delmarva Power with BGE and utilities in Chicago, Philadelphia and New Jersey.The commission approved the deal on conditions that included a $73 million customer investment fund to ensure that it benefits D.C. utility customers.Given that the companies accepted those terms, Exelon might have to sweeten offers of similar bill credits and other investments in Maryland, New Jersey and Delaware, a consumer advocate said. Regulators in those states had already approved the … [Read more...] about BGE owner Exelon closes $6.9 billion deal to buy Pepco