MCG Executive Briefing for August 8, 2014

Ferrari 250 EuropaThis 1953 Ferari 250 Europa Pinin Farina punctured the million-dollar mark at the Auctions America Burbank sale with a winning bid of $1,017,500. Get all the latest car industry news in the Executive Briefing.    -photo courtesy Auctions America  



Links open in new windows

+   General Motors will introduce a new Chevy Volt with greater range and a lower price next January at the North American International Auto Show in Detroit. More at MLive.

+   Toyota will donate $1 million to a $100 million fund to protect the Detroit Institute of Art’s precious art collection as the city negotiates the bankruptcy process. More at USA Today.

+   The National Guard has announced it will end its sponsorship of Dale Earnhardt Jr. in NASCAR and Graham Rahal in IndyCar at the end of 2014. More at NBC Sports.

+   Principals of the M1 Concourse auto enthusiast development have purchased an 87-acre site in Pontiac, Michigan where a GM plant once stood. More at The Detroit News. 

+   German labor unions have forced out McKinsey & Company, the consulting firm executing a $6.7 billion cost-savings program at Volkswagen AG. More at Reuters.

+   Formula One supremo Bernie Ecclestone has ended his three-month bribery trial in Munich, Germany with a $100 million cash settlement. More at the UK Daily Mail.

+   Facing multiple recalls and legal challenges, airbag maker Takata Corp. of Japan has forecast a $235 million annual loss for 2014. More at

+   Top sellers at the Auctions America Burbank sale last weekend included a 1946 Mercury Sportsman and a 1958 Porsche 356A Speedster. More at Hemmings Daily.

For the previous Executive Briefing from August 4, click here.

Have you joined Motor City Garage on Facebook? It’s big fun with rare photos, car lore, trivia, and great discussions! Click here to go the page and join MCG!

2 thoughts on “MCG Executive Briefing for August 8, 2014

  1. Interesting that VW is having issues with the union’s in Germany, yet was determined to get the UAW involved in Tennessee. Strange days.

  2. In Europe, unions are actual stakeholders in the business. They are expected to have their own independent views and to represent the interests of the employees. What a horrible concept.

    Which reminds me…anyone heard from our middle class lately?

Comments are closed.