OTTAWA, Canada - Economic Development and Trade Minister Joseph Cordiano has announced a new $500 million repayable loan program. Ontario's Advanced Manufacturing Investment Strategy will work with industry partners to develop and put in place leading technologies and innovations to keep them globally competitive. "We value our manufacturing sector in Ontario, and know that it
DETROIT - China is more of a threat than an opportunity to the global auto industry, says Graeme Maxton, automotive economist with the Economist Group and Managing Director of Autopolis in Asia. Maxton, speaking in an exclusive GlobalAutoTV video interview for GlobalAutoIndustry.com, says that there are three major challenges facing foreign firms in China. To
DETROIT - Could Ford Motor Co. end up as the last of the Detroit's Big Three left standing as a solely U.S.-based company if General Motors Corp. forms an alliance with Japan?s Nissan Motor Co. and France?s Renault. Friday's stunning news of a potential GM-Nissan-Renault alliance raised the possibility that American independence could soon end
DETROIT - Any immigration law that eventually emerges from Congress is likely to contain more employer responsibilities and sanctions. It?s anybody?s guess what the ultimate configuration of immigration reform will be once the political dust settles. But it is safe to assume that the days of minimal liability for hiring undocumented workers will start to
TROY - GlobalAutoIndustry.com, on Tuesday announced the launch of an online directory of more than 1,000 Global Experts covering business and operational solutions for automotive industry executives worldwide. The GlobalAutoExperts Directory gives automotive suppliers access to over 1,000 global experts in 14 categories and 104 subcategories. Global Experts are located in 25 different countries, including
TROY - A labor shortage has pay soaring in China, which is sure to send ripples around the globe. For years, Yongjin Group has earned a decent profit selling lamps and furniture to the likes of Wal-Mart, Home Depot, Target, and Pottery Barn. But lately the company has seen its margins shrink to 5 percent
DETROIT ? General Motors CEO Rick Wagoner believes the sale of controlling interest in GMAC to a group of investors led by Cerberus Capital Management will be good for both GM and its financing arm. As a result of the agreement that was announced April 3rd, Wagoner said the automaker will receive $14 billion in
DETROIT - The U.S. auto industry has been much in the news lately, but the focus has been on layoffs, plant closings and financial woes. Yet it is wrong to paint the domestic manufacturers with the same brush. Let's start with American Chrysler. Yes, it's owned by German DaimlerChrysler, but it's still Detroit. The way
DETROIT - It is often assumed by automotive corporations investing in China that the explosive economic growth is being accompanied by the requisite increase in talented, well educated and mobile managers and senior executives who can readily and willingly take up important and critical positions relatively quickly. This unfortunately is not the situation, although it
DETROIT - Every day, countless commentators prophesize the ascendance of the world's next superpowers, China and India, the two "Asian giants" shaking off their ancient slumber and rising to the call of the 21st century. According to popular punditry, their place in the firmament of globalization's success stories is already guaranteed. Yet economist Pranab Bardhan