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Johnston makes deal with auto dealers

JOHNSTON — The town has headed off a potential legal battle with two local auto dealers who had hoped to avoid paying property taxes on their Hartford Avenue buildings over the next 10 years, according to The Providence Journal.

After filing legal claims last year, the dealerships have agreed to forego the litigation and the town has agreed to permit the tax breaks over a five-year period, a town lawyer said yesterday.

Both Chris S. Hurd, of Hurd Hummer, and Michael Grieco Sr., of Metro Honda, had negotiated 10-year tax treaties with the administration of Mayor William R. Macera and the Town Council.

Posted by Peter C. T. Elsworth  at 1:07 PM to Local dealerships | Permalink | Comments 0

Back Seat Driver: GM’s Lutz wipes his shoes

I would like to give GM Vice Chairman Bob Lutz the benefit of doubt, but it’s hard to tally his apparent belief that global warming is a "total crock of s***" with that company’s efforts to create alternative fuel vehicles.

Lutz made the comment to reporters last month and yesterday said his beliefs are irrelevant to GM’s program to develop vehicles powered by ethanol-gas blends, and hybrid and fuel cell technology.

“It amazes me sometimes what kinds of things seem to “catch on” out there,” Lutz wrote on GM’s FastLane blog yesterday.

“An offhand comment I made recently about the concept of global warming seems to have a lot of people heated, and it’s spreading through the Internet like ragweed. But I think that the people making big deal out of it are missing the real point. My beliefs are mine and I have a right to them, just as you have a right to yours.”

Maybe. But it sure does not help GM’s reputation, especially after reporting whopping losses and losing its place as the biggest auto company to Toyota.

- Peter C. T. Elsworth

Posted by Peter C. T. Elsworth  at 11:08 AM to commentary | Permalink | Comments 0

Gas Prices Jump, but May Not Stay High

NEW YORK -- Gas prices jumped Friday to their highest level since June, a possible preview of what many analysts believe will be a record spike in pump prices this spring, according to the Associated Press.

But the current price surge could be short-lived. While gas prices have risen sharply in recent days in response to oil's dramatic climb to a new record above $101 a barrel, gasoline supplies have quietly grown to their highest level in 14 years.

At the pump, gas prices rose 2.9 cents overnight to a national average of $3.115 a gallon, according to AAA and the Oil Price Information Service.

Posted by Peter C. T. Elsworth  at 10:39 AM to Gas prices | Permalink | Comments 0

Ghosn Says US Auto Market in Recession

SEOUL, South Korea -- The head of Nissan said even if the United States is not in recession, its auto industry is, according to the Associated Press.

"We are very lucid on the situation of the industry that there is a recession in the United States, at least in the car market," CEO Carlos Ghosn told reporters, saying automakers face rising costs for iron ore, precious metals, aluminum and other materials.

Ghosn, who is also president and CEO of Renault SA of France, expressed optimism that the market will improve. Renault owns 44 percent of Nissan.

The American auto market "will not stay in recession for a long time," he said.

Posted by Peter C. T. Elsworth  at 10:31 AM to Auto industry | Permalink | Comments 0