AUTO INDUSTRY - Tesla's Rocketing Stock

"How Tesla's 'story' is driving its skyrocketing stock value" PBS NewsHour 4/10/2017

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SUMMARY:  The market value of Tesla, the high-end electric car manufacturer, has surpassed that of American automotive giants like Ford and General Motors, both of which sell millions more cars than Tesla does.  James B. Stewart of The New York Times joins William Brangham to discuss Tesla's brand allure and the state of today's auto industry.

WILLIAM BRANGHAM (NewsHour):  Here are some head-scratching numbers to consider.

Tesla's market value is $50 billion, yet Tesla may lose nearly a billion dollars this year, whereas, combined, Ford and GM are expected to earn more than $15 billion.  Last year, Tesla sold just about 80,000 vehicles.  Ford and GM?  They sold nearly 17 million.

James Stewart is a business columnist for The New York Times and a staff writer for The New Yorker, and he's here to help us understand why Tesla's value is skyrocketing.

James Stewart, welcome to the NewsHour.

You know these numbers very, very well.  What is going on here?

JAMES STEWART, The New York Times:  Well, these numbers are pretty amazing.  They make no rational sense, really.

But Tesla is what I call the sort of ultimate story stock, which means investors care about the story.  They don't care about the numbers.  They do not care that it's losing.  They have lost over $500 million last year, may lose a billion this year.  And they don't really care that GM and Ford are making billions of dollars in profit.

The story with Tesla is that they are going to dominate the auto market, that they are going to create the world's safest car, that they are going to take over the battery market, and that they are going to dominate and reinvent the electric grid.

I mean, these are all huge markets, and they think Tesla is going to dominate every one of them.

TUNE UP - Auto Industry Boom?

"After a boom year, what’s down the road for the auto industry?" PBS NewsHour 1/6/2016

On a personal note; after I paid off my mortgage in March 2015, I replaced my 1999 Ford Mustang V6 with a new 2016 Ford Mustang V6 (manual transmission).

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SUMMARY:  In 2015, Americans spent roughly $570 billion dollars on more than 17 million cars and trucks, breaking a record set 15 years earlier.  But it was also a year of automaker scandal, including a probe into GM's defective ignition switch problems, faulty airbags found in more than 19 million vehicles and Volkswagen's emissions cheating.  Judy Woodruff talks with David Shepardson of Reuters.

JUDY WOODRUFF (NewsHour):  2015 turned out to be a boom year for the auto industry, despite some of the worst news about its practices in recent years.

Americans spent roughly $570 billion on 17.5 million cars and trucks last year, an almost 6 percent increase over the prior year, and breaking a record set 15 years earlier.

But, in the same 12 months, GM faced public congressional hearings and paid a $900 million settlement over its handling of a defective ignition switch.  U.S. regulators recalled more than 19 million vehicles over faulty air bags, and Volkswagen admitted to rigging diesel cars to pass emissions tests.

Some insight into this from David Shepardson of Reuters news service.  He covers the automotive industry, as well as other regulatory matters.

And welcome back to the program.

DAVID SHEPARDSON, Reuters:  Thanks, Judy.

JUDY WOODRUFF:  So, Dave, should we be surprise at this jump in auto sales last year?

DAVID SHEPARDSON:  No, I think it’s continuing a record-setting six-year trend, really the longest increase in auto sales since the 1920s.

But it says Americans, our cars in the garages are still pretty old, a record 11.5 years on average.  And there’s been a lot of pent-up demand.  Plus, you have got low gas prices, low interest rates, and a lot of good deals on — in showrooms.  And Americans are feeling more confident.  Unemployment has declined.  So, really, all the economic indicators that would help boost sales have been in the auto companies’ favor.

JUDY WOODRUFF:  And I want to ask you about some of those factors.

But this happened, as we just reported, despite all this bad news about the industry.  What does that say about consumers?

DAVID SHEPARDSON:  It’s pretty remarkable that consumers have shrugged off all the bad news.  And, really, it’s hard to keep it straight, from the air bags, to the fines to companies for not disclosing defects and handling recalls properly, not to mention Volkswagen, Takata and General Motors.

So, consumers have been able to separate some of those issues, especially because they’re older vehicles not in the showrooms, in part they need cars and trucks, and they’re not going to sort of wait for the industry to get all its practices back in a row.

GREED FILES - Volkswagen SMOG Test Cheating (Updated)

"Volkswagen comes clean on emissions cheating" PBS NewsHour 9/22/2015

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SUMMARY:  German automaker Volkswagen has revealed that as many as 11 million of its diesel-powered cars worldwide could be affected by software designed to dupe emissions tests.  The software, which only switches on during emissions tests, leaves the cars emitting up to 40 times the legal pollution limits.  Judy Woodruff speaks to John Stoll of The Wall Street Journal.

JUDY WOODRUFF (NewsHour):  The scandal, and the fallout, over Volkswagen’s cheating of emissions standards grew today.  Just last week, the EPA alleged there was deceitful software in half-a-million cars.  Today, Volkswagen raised that number significantly and tried to restore customer trust.

Volkswagen revealed that as many as 11 million diesel-powered cars worldwide could be affected by software that was designed to cheat on emissions tests.  Most of those cars are thought to be in Europe, the automaker’s primary market.  The revelation caused Volkswagen stock to plummet for a second day.  The company lost almost 19 percent of its stock value, or $17 billion, Monday.  The price plunged another 20 percent during trading in Frankfurt today.

The CEO of Volkswagen America, Michael Horn, gave a frank apology last night at an event in Brooklyn.

MICHAEL HORN, CEO, Volkswagen America:  So, let’s be clear about this.  Our company was dishonest.  We have totally screwed up.

JUDY WOODRUFF:  A year-long investigation by the U.S. Environmental Protection Agency uncovered the software.  It switches on a car’s emissions controls when a smog test is taking place.  But the controls turn off again when the test is over, leaving cars emitting up to 40 times the legal pollution limits.

The software is installed in Volkswagen Jettas, Beetles, Golfs and Passats and Audi A3s sold in the U.S. since 2008.  The Justice Department has reportedly opened a criminal investigation of the automaker.  Investigations are also being launched in France, Germany and South Korea.

For more, we turn to John Stoll.  He is Detroit bureau and global automotive editor for The Wall Street Journal.  He has been following developments in this story closely.

John Stoll, welcome.

You have been covering this story closely.  And you have covered other auto industry problems.  Where does this one rank?

JOHN STOLL, The Wall Street Journal:  It’s up there.

I mean, this is one, because of the volume of vehicles we’re talking about and the sort of transatlantic implications — 11 million is not a small number when you talk about the U.S. car park.  About 85 million vehicles are sold a year.  So, yes, that’s spread over several years of production, but that’s a large sum of cars.  And Volkswagen right now is the biggest automaker in the world, as of the first half of 2015, huge aspiration, and obviously, in Germany, they’re a big employer.

JUDY WOODRUFF 9/23/2015:  ..... the head of the German automaker Volkswagen is out, amid a scandal over rigging diesel cars to pass pollution tests.  CEO Martin Winterkorn announced today he’s stepping down.

He denied any personal wrongdoing, but in a statement, said — quote — “Volkswagen needs a fresh start.  I am clearing the way for this fresh start with my resignation.”

Germany’s economy minister warned today against assuming the scandal will do lasting harm to V.W. or to the German economy.

"How Volkswagen got caught cheating" PBS NewsHour 9/29/2015

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SUMMARY:  How did Volkswagen get caught rigging the emissions software of its diesel vehicles?  William Brangham talks with John German of the International Council on Clean Transportation, one of the engineers who helped catch the automaker.

AUTOS - Response to Low Gas Prices

"How automakers and car buyers are responding to low gas prices" PBS NewsHour 1/12/2015

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SUMMARY:  Since last year’s Detroit Auto Show, gas prices have dropped by nearly a third.  With the new lower prices, demand has gone up for big new SUVs and sedans, but automakers have also switched gears to develop more fuel-efficient cars.  Gwen Ifill speaks with John Toll of The Wall Street Journal about the tension between the two trends and convincing car buyers to think long-term.

GWEN IFILL (NewsHour):  One year ago, when automakers held their big show in Detroit, a gallon of gas went for an average of $3.31.  Now, as the auto show gets under way again, it’s dropped by a third, all the way down to $2.13 a gallon.

And that presents some intriguing challenges this year.  On one hand, manufacturers like GM are creating more fuel-efficient cars, like the Volt, a new electric-powered concept car which is designed to get 200 miles from a single charge.

But on the other end of the spectrum, big new SUVs and sedans are rolling off production lines for buyers now less worried about gas prices.

John Toll is the global auto editor for The Wall Street Journal, and he joins me from Detroit.

After all the bright, shiny things at the auto show, John, what are the trends you’re seeing?

JOHN TOLL, The Wall Street Journal:  Well, the trend is definitely back toward big trucks and SUVs, in terms of the conversation right now that we’re having about the immediate environment.

The economy is doing well.  Gas prices, as you mentioned, are down to $2 a gallon or less, and there is a lot of what a lot of automakers think is a natural progression toward the SUV and truck body style in most of America.  So they’re catering to that right now.

At the same time, you have this tension.  While dealers want more and more trucks and SUVs, regulators want more vehicles like the Chevrolet Volt or the Nissan Leaf, or the Tesla Model S, vehicles that can run on electricity or batteries and — or can get significantly better fuel economy.

CAUTION:  Gas prices are NOT going to stay low.

AUTO SAFETY - What We Need to Know, Takata Airbags

"What consumers should know about the Takata airbag recalls" PBS NewsHour 10/24/2014

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JUDY WOODRUFF (NewsHour):  It’s been the worst year ever for auto recalls, and this week provided more disturbing news, the latest concerns, just how many vehicles have air bags that could be dangerous and should be recalled.  The air bags made by the Japanese company Takata can rupture, causing metal fragments to fly out and injure someone.

At least four deaths are connected with those ruptures.  Federal regulators said this week that roughly eight million vehicles from nearly a dozen manufacturers should have repairs done or the bags replaced.  That’s on top of 14 million already recalled worldwide.

Moreover, lawmakers said this week that as many as 30 million vehicles could be equipped with those air bags.

Overall, this year, nationwide, more than 50 million cars and trucks have been recalled for a variety of problems.  That is one in five on U.S. roads.

Micheline Maynard has been covering this for Forbes.  She is a professor of business journalism at Arizona State University’s Walter Cronkite School of Journalism and Mass Communication.

Micki Maynard, welcome back to the “NewsHour.”

So, the most recalls ever.  How big a deal are these — this air bag problem?

MICHELINE MAYNARD, Arizona State University:  I think a lot of your listeners probably heard about the General Motors issues with ignition switches.

I actually think this is a bigger problem because it affects far more companies.  It affects 11 different car companies, and it affects vehicles that were built from 2000 to 2008.  And there are still a lot of those vehicles on the road.

AUTOMAKERS - Recall of 14 Milion for Exploding Airbags

"Automakers recall 14 million cars for exploding airbags" PBS NewsHour 9/12/2014

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JEFFREY BROWN (NewsHour):  As with GM, the problems may date back a decade or more.  In this case, it’s the rupturing or explosion of air bags that injured drivers and are linked with two deaths.  The air bags are supplied by Takata Corporation.  Which makes them for automakers around the world.

Honda first began recalling a few thousand as early as 2009.  This year, recalls related to the air bags have grown dramatically and now exceed 14 million overall, six million of them by Honda, while Toyota, BMW, and Nissan have also recalled large numbers of cars.

David Shepardson of The Detroit News joins us once again.

Welcome back, David.

First, remind us what the problem is with the air bags.

DAVID SHEPARDSON, The Detroit News:  Sure.

These are air bags that are deploying in a frontal crash . And rather than just getting the pillow you see in a standard air bag, they are rupturing because of the high force, and in some cases sending shrapnel or pieces of metal, and causing serious injuries and, as you said, reports of two deaths.

JEFFREY BROWN:  As we reported here, it was found first a long time ago.  It has taken a long time to get to this number of recalls.  What’s — kind of quickly bring us up to date.  What’s been happening in that area?

DAVID SHEPARDSON:  Well, it’s been a real puzzle both for Honda and for regulators, in part because you had two different plants, one in Mexico, one in Washington State, that had two different issues with these air bag inflators that prompted, you know, starting with Honda to recall these vehicles.

Then it grew to almost a dozen worldwide.  In fact, the government is still deciding whether the recalls that have been done so far are enough.  And there may — still may be more vehicles to be recalled.  And that goes to the issue of, is — it’s hard to figure out exactly how many vehicles and which specific air bags should be covered by this.

GENERAL MOTORS - Payout Plan to Victims

"Exploring GM’s payout plan for ignition switch victims" PBS NewsHour 6/30/2014

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JUDY WOODRUFF (NewsHour):  General Motors announced far more safety recalls today, this time an additional 8.4 million vehicles worldwide.  The automaker said it is aware of seven crashes, eight injuries and three fatalities related to the recalled vehicles.  GM said it knows of problems with the ignition key’s rotation.

The models, which include Cadillacs, Chevy Malibus and Impalas, among others, were sold between 1996 and 2014.  That news came just hours after terms for a victims compensation fund were announced.  That fund will have no cap, and the fund’s administrator said he will do whatever it takes to resolve each and every claim.

Jeffrey Brown has our coverage.

JEFFREY BROWN (NewsHour):  More than 250 million cars are on American roads, and six months ago, General Motors recalled 2.6 million of them for potentially deadly ignition switch problems.

The automaker had known about the problem for more than a decade, and ultimately acknowledged its role in at least 13 deaths.  Today came the details on a compensation fund for victims.

AMERICA - BMW Offers Jobs AND Apprenticeship Program to U.S. Workers

"BMW apprenticeship program trains workers to rise through the ranks without 4-year degree" PBS NewsHour 6/4/2014

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JUDY WOODRUFF (NewsHour):  On Friday, we’re going to get the latest snapshot from the federal government about the state of the job market.  A separate payroll report issued today found private companies created almost 180,000 jobs in May, fewer than in April.  The unemployment rate remains very high for those under the age of 25 — it’s in the double digits — and at higher rates for teens without degrees.

The NewsHour’s economics correspondent, Paul Solman, has a report about one program from an auto manufacturer that offers possibilities for some of those workers.

It’s part of his reporting on Making Sense of financial news.

PAUL SOLMAN (NewsHour):  The BMW factory in Spartanburg, South Carolina, BMW’s only U.S. auto plant, built 20 years ago, mainly for access to the American market, it’s now the sole production facility for their popular X model line of luxury crossover SUVs, 1,200 vehicles a day.

But BMWs, and the occasional Teutonic executive, aren’t the only German imports around here.  There are also apprenticeships.

WERNER EIKENBUSCH, Head of Work Force Development, Americas, BMW:  I actually grew up in Germany in a little village, and my daddy and my mom were of a blue-collar background, so for them college wasn’t something that they had really envisioned for me.

PAUL SOLMAN:  And so Werner Eikenbusch, BMW’s head of workforce development for the Americas, left high school in 10th grade for an apprenticeship, combining on-the-job training with vocational school.

WERNER EIKENBUSCH:  This German dual system has a long history in Europe.  It goes back hundreds of years, so it’s really very much embedded and it is actually a recognized, you could call it educational pathway that, for whatever reason, didn’t make it over into the U.S.

GENERAL MOTORS - Can They Survive 14 Million Recalls?

"Growing list of recalls may be more than a bump in the road for GM’s reputation" PBS NewsHour 5/21/2014

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JEFFREY BROWN (NewsHour):  The latest addition to GM’s ever-growing list: 218,000 Chevrolet Aveos recalled just this morning.  They have a dashboard lighting module that could overheat and catch fire.

A day earlier, the company told customers to bring in nearly 2.5 million vehicles for seat belt, gear shifter, and other mechanical problems.  It all started in January, with nearly 2.6 million vehicles recalled, for ignition switch defects going back a decade, and linked to 13 deaths.

GM’s new CEO, Mary Barra, faced senators in April.

MARY BARRA, CEO, General Motors:  Sitting here today, I cannot tell you why it took years for a safety defect to be announced for this program, but I can tell you we will find out.

JEFFREY BROWN:  By now, GM has called back nearly 14 million vehicles, the most ever in a single year.  The 29 separate actions include last Thursday’s recall of 2.7 million Chevrolet, Saturn and Cadillac models for taillight and other malfunctions, the March 13 recall of 1.7 million Buick, GMC and Chevrolet vehicles for brake and air bag problems, and the March 31 recall of 1.3 million Chevrolets, Saturns and Pontiacs for power steering issues.

Last Friday, the government fined GM $35 million for concealing the ignition switch problem.

WALL STREET - Going More Deeply Into Max GM Fine

"Federal government hits General Motors with $35 million fine" PBS NewsHour 5/17/2014

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SUMMARY:  The federal government issued a record $35 million fine against General Motors on Friday for to the automakers slow response reporting faulty ignition switches -- a defect that has been linked to 13 deaths.  What’s the latest on the massive recall?  Hari Sreenivasan speaks with Micheline Maynard, who has covered the auto industry for many years, about the fine and this developing story.

AUTO MAKERS - What Toyota's Billion Dollar Settlement Means

"What Toyota’s $1.2 billion settlement means for the auto industry" PBS NewsHour 3/19/2014

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GWEN IFILL (NewsHour):  Four years after launching a criminal investigation of Toyota, the government wrapped up its case today by announcing a major settlement, in which the company admitted criminal wrongdoing for concealing safety concerns.

ERIC HOLDER, Attorney General:  Today, we can say for certain that Toyota intentionally concealed information and misled the public about the safety issues behind these recalls.

GWEN IFILL:  In a toughly worded statement, Attorney General Eric Holder announced the record $1.2 billion settlement this morning.  Toyota, the federal investigators said, purposely concealed what it knew about the full scope of unintended acceleration issues, linking them to faulty brakes, sticking gas pedals and tangled floor mats.

ERIC HOLDER:  Toyota confronted a public safety emergency as if it were simply a public relations problem.  Put simply, Toyota’s conduct was shameful.  It showed a blatant disregard for systems and laws designed to look after the safety of consumers.  By the company’s own admissions, it protected its brand ahead of its own customers.

GWEN IFILL:  Recalls began in 2009, and ultimately spread to more than 10 million Toyota vehicles.  Company sales plunged, but have since rebounded.

In a news release today, Toyota USA’s chief legal officer, Christopher Reynolds, insisted the auto giant has become more responsive since 2009.

He said, “This agreement, while difficult, is a major step toward putting this unfortunate chapter behind us.”

But Holder said the case also serves as a warning to others in the auto industry.

ERIC HOLDER:  Other car companies shouldn’t repeat Toyota’s mistake.  A recall may damage a company’s reputation, but deceiving your customers makes that damage far more lasting.

GM - Questions Over 10 Year Delay in Recall

What!?  A big corporation ignoring the safety of their customers while salivating over profits?  All that drool must have ruined documentation.

"Safety advocates question delay in recall by General Motors" PBS NewsHour 3/10/2014

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GWEN IFILL (NewsHour):  The nation’s largest auto company and the watchdog agency in charge of vehicle safety are under fire tonight, as critics raise new questions about last month’s delayed recall of 1.6 million cars.

Drivers began complaining nearly 10 years ago of ignition problems in some vehicles, including several older models of the Chevy Cobalt and Saturn Ion.  The cars would stall, even shut down, and air bags sometimes failed to inflate.  The problem has been linked with 13 deaths and 31 crashes.

David Shepardson of The Detroit News covers the auto industry.  And he joins me now.

AUTOMAKERS - Consider Making Automatic Safety Features the Standard

"‘Talking cars’ could prevent accidents before they happen" PBS Newshour 2/3/2014

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GWEN IFILL (Newshour):  For years, carmakers have been adding advanced automated safety features to their increasingly high-tech vehicles.  Now the federal government is considering turning some of those options into industry standards.

ACTOR:  This is unreal.

LAURENCE FISHBURNE, actor:  No, it’s very real.

GWEN IFILL:  In a Super Bowl broadcast packed with car commercials, this Hyundai ad focused not on speed or style, but on how to avoid an accident.  In it, an ever-attentive dad does his best to protect his son from a collision, including the perils of mixing teenaged hormones with learner’s permits.

NARRATOR:  Remember when only dad could save the day?  Auto emergency braking on the all new Genesis.

GWEN IFILL:  In fact, automatic braking is becoming an option on models around the world.  The vehicles use radar, video and sensors to monitor their surroundings, give early warnings to drivers and even engage the brakes.

NARRATOR:  The technology may be hard to imagine, but why you would want it is not.

GWEN IFILL:  Now Transportation Secretary Anthony Foxx wants similar enhancements on all new vehicles.

CARMAKERS - 2014 Detroit Auto Show

"At Detroit Auto Show, carmakers unveil new high-performance models" (Part-1) PBS Newshour 1/16/2014

GWEN IFILL (Newshour):  Five years ago, two of the largest auto manufacturers, GM and Chrysler, were on the brink.  The Bush and Obama administrations offered them critical lifelines of cash, tens of billions of dollars, most of which has since been repaid.

In the wake of the crisis, carmakers said they would change the kinds of vehicles they were selling, reducing their size and increasing fuel-efficiency.  And, to some extent, that is happening.

But, in Detroit this week, the industry also returned to some of its old high-powered old form.

Hari is back with that story.

MAN:  Ladies and gentlemen, introducing the big nasty, the 2015 Corvette Z06.

HARI SREENIVASAN (Newshour):  Detroit puts its best new offerings on stage each year at the North American International Auto Show, previewing concept cars that may never be made, alongside those that car-lovers can expect to see in showrooms in the coming years.

Vice President Joe Biden was among the enthusiasts today as Chevrolet rolled out the new Corvette.

VICE PRESIDENT JOE BIDEN:  Now, you know, that old Corvette, that rear end, it wasn't what you would call stable, right?

(LAUGHTER)

JOE BIDEN:  But they tell me this new one, man, can take the Porsche.  I'm counting on it.

HARI SREENIVASAN:  And automakers seem to be counting on a new yearning for high-performance cars, after focusing more on smaller sedans and electric vehicles in recent years.

RAJ NAIR, Ford Group:  There you have it.

HARI SREENIVASAN:  Trucks are also moving off dealers' lots.  And at the auto show, manufacturers tried to spotlight redesigned models like Ford's F-150, which are lighter and more fuel-efficient.

RAJ NAIR:  Overall, as much as 700 pounds of weight have been saved, helping the F-150 tow more, haul more, accelerate quicker, stop shorter, all with better gas mileage.

HARI SREENIVASAN:  Ford and its competitors are racing to meet a surging demand for trucks, fueled partly by contractors buying more as them, as the housing industry picks up.

The new CEO of General Motors, Mary Barra, unveiled her company's new midsize pickup, the GMC Canyon, on Sunday.

MARY BARRA, General Motors:  At today's GM, our products are the result of putting the customer at the center of everything we do.

HARI SREENIVASAN:  Overall, the industry racked up strong sales gains in 2013, with more than 15 million vehicles sold.  It's hoping to build on that performance in 2014.

"Big trucks lose weight, gain greater efficiency for Detroit Auto Show" (Part-2) PBS Newshour 1/16/2014

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SUMMARY:  At the 2014 North American International Auto Show, the spotlight shines on sports cars and trucks, rather than alternative fuel vehicles.  Hari Sreenivasan talks to Dan Neil of The Wall Street Journal and Karl Brauer of Kelley Blue Book about the state of the industry and how gas mileage improvements are shaping trends.

AMERICA - The Stingray is BACK!

"2014 Chevrolet Corvette Stingray: Everything there is to know [w/video]" by Chris Paukert, AutoBlog 1/13/2013

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2013 is shaping up to be a frantic year for Chevrolet, with over a dozen reveals and launches on its calendar. New iterations of the most financially and emotionally important vehicles to the brand are launching little more than a few weeks apart – the 2014 Silverado (financially) and the 2014 Corvette (emotionally). Better than any other models, these two lines form the bedrock for the Bowtie's identity and bookend its portfolio. The pickup is the backbone of the brand's profits (and indeed, those of General Motors) and the Corvette is its spiritual core and flagship.

It's fair to say that upon first impression, the new Silverado didn't exactly bowl over the assembled media – or the Autoblog commenteriat – with what many see as largely incremental improvements. (This, at a time when rivals are rewriting the book on what it means to be a full-size pickup). By contrast, the 2014 Corvette Stingray will slay a few sacred cows along the way to what is its arguably its biggest model-over-model change in decades. And at least at first glance, the Vette appears all the better for it.

We'll get to the specifics of its genetic makeup and appearance in a minute, but for now, you'll want to focus on these key bits: The all-new LT1 small-block V8 holds on to the same 6.2-liter displacement as the C6, here producing 450 horsepower and 450 pound-feet of torque backed by either a seven-speed manual or a six-speed paddleshift automatic. And although GM has yet to release the car's weight (we only know it won't be under 3,000 pounds as previously rumored), it's promising a better power-to-weight ratio than the Porsche 911 Carrera and Audi R8. In fact, Chevy pledges the C7 will run from 0-60 in less than four seconds and Z51 Performance Package examples will achieve cornering grip of over one g right out of the box. Further, 60-0 braking distances are said to be consistent with that of the outgoing Grand Sport and so are its lap times – impressive for a standard model.

Chevy 2014 Corvette Stingray home site

HEALTH - Can Medical Centers Learn From Auto Manufacturer?

"Rooting Out Waste in Health Care by Taking Cue From Toyota Assembly Lines" PBS Newshour 10/24/2012

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SUMMARY: When the Virginia Mason Medical Center in Seattle was losing money for the first time in its history, CEO Dr. Gary Kaplan turned to an unlikely place for help: giant automaker Toyota. Health correspondent Betty Ann Bowser reports on the hospital's success in lowering costs and improving health outcomes.

JEFFREY BROWN (Newshour): And now a question you might not have pondered before: What can a medical center learn from an auto manufacturer?

NewsHour health correspondent Betty Ann Bowser has the answer.

AMERICA - Auto Sales Surge

"Why Auto Sales Surge Even as Gas Prices Rise" PBS Newshour 4/3/2012

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GWEN IFILL (Newshour): And we turn to what's behind the continuing surge in sales as the American auto industry turns in its best quarter in years.

The auto industry continued its rebound today on news that sales jumped 6 percent in March, with almost 1.4 million new cars and trucks sold. That's the highest monthly number since 2008.

ECONOMY - Auto Industry Turnaround, How?

"How the U.S. Auto Industry Picked Up Speed in 2011" PBS Newshour 1/5/2011

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MARGARET WARNER (Newshour): 2011 turned out to be the strongest year for Detroit's major automakers since the financial crisis hit in 2008. Nearly 13 million vehicles were sold here last year, 10 percent more than the 11.5 million in 2010 and far more than the 10.4 million sold in 2009, which had marked a quarter-century low.

What's more, the three major U.S. automakers captured 47 percent of the total market in 2011, up from 45 percent in 2010. The two automakers bailed out in 2009 showed a healthy jump in sales, Chrysler up 26 percent and GM up 13 percent. Ford's sales were up 11 percent.

For more on Detroit's steps toward recovery, we turn to David Shepardson. He covers the auto business for Detroit News.

UNIONS - Very Changed Auto Industry

"UAW President Bob King on New Contracts: Top Priority Was Creating Jobs" PBS Newshour 10/26/2011

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JEFFREY BROWN (Newshour): Now, a new contract for autoworkers, but a continuing struggle for the future.

Today, Chrysler's workers became the last of the big three companies to ratify a new four-year labor contract. These are the first new contracts since Chrysler and GM nearly went under two years ago, and they reflect a very changed industry.

Among the common elements: giving up annual pay raises in favor of bonuses and profit-sharing for workers; some new jobs added and the opening of several plants by the automakers, and new caps on the percentage of entry-level workers. In the industry's growing two-tiered salary system, such workers are paid lower hourly wages, similar to foreign automakers.

Officials of the United Auto Workers fought hard to get members to ratify the contracts after several major plants voted against the deals.

ON THE LITE SIDE - Better Driver? Robot or People?

"Google Engineer Worse Driver Than Google's Robot Car, Apparently" by Andrew Dalton, SFist.com 8/5/2011

Today in things that Google computers are better at than you, simple human: Driving. An incident involving a Google driverless Prius was originally reported by Jalopnik this morning as the first traffic accident for Google's fleet of robot cars. Which could have been terrible PR for the Google autonomous vehicle program that's been quietly logging hundreds of thousands of miles on the streets of California and Nevada. As it turns out, the incident in which a gPrius rear-ended another Prius near the company's headquarters in Mountain View occurred while the vehicle was in manual mode. So, the robot car wasn't trying to mate with another hybrid vehicle, then?

In a statement to Business Insider, a Google spokesperson said, "Safety is our top priority. One of our goals is to prevent fender-benders like this one, which occurred while a person was manually driving the car." Of course, Google could just be trying to cover their ass here by pinning their blame on the poor engineer who was in the driver's seat at the time. But if human error is to blame then we suppose we've finally arrived at the new and exciting future where human drivers are obsolete. Now if you'll excuse us, we'll be napping on cruise control.