Formerly owned by actor Steve McQueen, this rare 1915 Cyclone V-Twin board racer could bring up to $750,000 at the Mecum Auctions E.J. Cole collection sale. Get all the latest auto industry news in the Executive Briefing.
Today’s headlines:
+ Electric car battery maker A123 Systems has filed suit against Apple for allegedly poaching the company’s top engineers. More at Computer Business Review.
+ Korea-based Hyundai Motor will enter the U.S. commercial vehicle market as part of a $1.8 billion campaign to build global market share. More at Reuters.
+ General Motors has named Houston attorney Craig Glidden to serve as general counsel, replacing the retiring Michael Milliken, 66. More at the Houston Chronicle.
+ Sotheby’s has acquired a 25 percent ownership stake in collector car purveyor RM Auctions, which will now be known as RM Sotheby’s. More at Sports Car Digest.
+ Hendrick Motorsports drivers Dale Earnhardt Jr. and Jimmie Johnson swept their respective 150-mile qualifying races, setting the field for Sunday’s Daytona 500. More at ESPN.
+ Delphi Automotive has agreed to sell its automotive heating and air conditioning divisions to Mahle GmbH of Germany for $700 million. More at The Detroit News.
+ A second employee organization, the American Council of Employees (ACE), has been certified to represent workers at the Volkswagen assembly plant in Chattanooga, Tennessee. More at The Detroit Free Press.
+ The Airlander 10 airship, the world’s largest aircraft, has been repurposed as a mega-cargo carrier with a new £3.4 million grant from the UK government. More at The Verge.
+ Dan Akerson, retired chief executive officer of General Motors, has warned Apple, Inc. against entering the auto manufacturing business, citing its high costs and low margins. More at The Detroit News.
+ The Manor Formula One operation, which previously raced under the Marussia banner, has been been brought out of administration by its creditors. More at Yahoo! Sport UK.
+ The E.J. Cole Collection of more than 220 motorcycles will be offered in a stand-alone sale by Mecum Auctions in Las Vegas on. March 20-21. More at Hemmings Daily.
For the previous Executive Briefing from February 16, click here.
The UAW is not going to rest until it has destroyed VW like it has the Detroit automakers.
The UAW is the best thing that ever happened to the auto industry and can take much of the credit for creating the middle class. I would still be a member if I had not been promoted to management.