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Updates from March, 2011

  • Car-sharing company Zipcar Inc. plans to list 8.3 million shares at $14 to $16 per share when it makes its initial public stock offering, according to a filing Wednesdaywith the Securities and Exchange Commission. No date has been set for the IPO.
    4:35 pm on March 31, 2011
     

  • Toyota and lawyers suing the automaker over unintended sudden acceleration have reached an agreement on how to handle evidence related to the source code used on its vehicles, a lawyer said.
    4:19 pm on March 31, 2011
     

  • The U.S. Department of Energy lacks the engineering expertise to properly oversee $8.5 billion in loans to Ford Motor Co., Nissan North America, Fisker Automotive and Tesla Motors to build more fuel-efficient vehicles, a congressional watchdog said.
    4:14 pm on March 31, 2011
     

  • The UAW's membership ranks rose 6 percent to 376,612 last year, the first gain in six years as U.S. automakers began hiring amid a recovery in sales.
    3:56 pm on March 31, 2011
     

  • Meritor Inc., the commercial-truck, trailer, defense and automotive aftermarket supplier, said today it was fined $100,000 earlier this month by the U.S. Department of Commerce's Bureau of Industry and Security for 14 export violations.
    3:42 pm on March 31, 2011
     

  • CarMax Inc. reported increases in net earnings and revenues in its fourth quarter and fiscal year that ended Feb. 28. The automotive retailer today reported net earnings in the latest quarter rose 19 percent from the year-earlier period to $89.
    3:19 pm on March 31, 2011
     

  • New driver Brandi Eadie, 16, looks down at her cell phone to read a text message as she drives through a course in Seattle designed to demonstrate the dangers of phone use while driving. Safety measures for distracted driving have been enacted in a number of states. Some say the plans do not go far enough; others are skeptical.


    1:59 pm on March 31, 2011
     

  • Tesla Motors Inc. shares rose the most in more than four months after a Morgan Stanley analyst said the unprofitable electric-car maker will benefit from a shift away from internal-combustion engines. Tesla surged $4.
    1:19 pm on March 31, 2011
     

  • Peter Schreyer, the German design chief of South Korea's Kia Motors Corp., normally steers clear of 'Koreanesque' styling in his cars, as a matter of principle.
    1:18 pm on March 31, 2011
     

  • Ally Financial Inc. filed for an initial public offering of the U.S. government's majority stake as part of the auto and home lender's plan to regain its independence.
    12:49 pm on March 31, 2011
     

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