This year's auto show in Detroit could set the stage for a shake-up in the fiercely competitive â€” and hugely profitable â€” luxury car scene. That's because there's a new kid on the block, and its name is Cadillac.
The General Motors company says its new small, high-performance ATS will allow it to compete for the first time with Audi, Mercedes-Benz and BMW. But getting a brand-new luxury car like the ATS ready for market can be a grueling process.
Originally published on Wed January 11, 2012 7:47 am
Michael J. Williams said he is stepping down as chief executive of the quasi-governmental mortgage giant Fannie Mae. The company made the announcement late last night, saying Williams will wait to step down until the board of directors names a successor.
"I decided the time is right to turn over the reins to a new leader," Williams said in a statement.
Twinkies maker Hostess Brands Inc., is again seeking protection from its creditors, filing for Chapter 11 bankruptcy as the company tries to cope with high debt and rising costs of labor and raw materials.
Hostess, which also makes Ho Hos, Sno Balls, and Wonder Bread, is a privately held company based in Irving, Tex. It owes millions to suppliers and labor unions. The company has reportedly found some financing to keep it running during bankruptcy proceedings.
Between 1960 and 1976, the Dodge Dart was one of the best-selling cars in America, with its affordable price and rugged styling. More than 3.5 million Darts were sold.
Though the car was never known for being especially stylish or pretty, Chrysler is now reviving the name as the company continues its own revitalization. On Monday, it unveiled the new Dart at the 2012 North American Auto Show in Detroit.