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Audi's R8 sports car top $100,000

Audi has priced its new R8 sportscar starting at $109,000, making it the brand's most expensive car ever sold in theU.S, according to thecarconnection.com
The R8 comes with a manual transmission, a 420-hp V-8 engine, 19-inch wheels, and Sirius satellite radio. A version with the six-speed R-tronic automatic has a base price of $118,000.
Audi promises a 0-60 mph time of 4.4 seconds for the new sportscar, and a top speed of 187 mph. Audi says its rear-biased setup for its quattro all-wheel-drive system gives the R8 the balance "expected of a mid-engine sports car."

Posted by   at 11:56 AM to Companies | Permalink | Comments 0

Oil prices on the rise

Crude oil prices passed the $64 a barrel level today due apprehension on the part of investors and slipping petroleum supplies. In morning trading on the New York Mercantile Exchange, crude climbed 56 cents, to $64.64, breaching levels not seen since September, according to Forbes.com.
The Web site cited mounting tension between Iran and the United Kingdom over the seizure of British naval personnel and the report by the Energy Department which showed that crude oil inventories slipped by 900,000 barrels last week to 328.4 million barrels. Stocks of gasoline and distillate fuel, which include heating oil and diesel fuel, also fell.

Posted by   at 11:51 AM to Oil | Permalink | Comments 0

UAW takes stand on health care and jobs bank

The contract talks between the United Automobile Workers union and Detroit’s automakers are months away but the union has already taken two issues off the bargaining table, according to the New York Times.
UAW president Ron Gettelfinger says he sees no reason to accept any deal that requires workers to pay more of their health care costs or that eliminates the jobs bank, which allows laid-off workers to continue collecting most of their pay and benefits.

Posted by   at 11:41 AM to Auto industry | Permalink | Comments 0

No bonuses for GM execs

General Motors says it will not be paying cash bonuses to its top executives for the second consecutive year, according to the New Yorks Times. The company boosted its financial performance in 2006 yet did not earn a profit.
The paper noted such bonuses would undoubtedly have rankled members of the United Automobile Workers union ahead of this summer’s contract talks, although a G.M. spokeswoman, Renee Rashid-Merem, declined to say whether the pending negotiations were a factor

Posted by   at 11:36 AM to Companies | Permalink | Comments 0