By Doron Levin, contributorFebruary 18, 2011: 1:38 PM ET FORTUNE — Don’t feel too sorry for automotive mogul Roger Penske, who this week threw in the towel on the exclusive U.S. distribution rights for the Smart line of small cars. Investors were cheering his decision Wednesday, along with the financial results of Penske Automotive Group (PAG, Fortune 500), bidding shares nearly to a three-year high.
The Smart ForTwo, a diminutive two-seater built by Daimler AG, simply never met sales expectations, reaching about 45,000 cars sold over a three-year period, but at a declining rate. “It had a rip-roaring start,” said [...] Continue Reading…

From a report by bankrate.com, auto With cold temperatures as well as snow and icy conditions blanketing much of the country, many drivers who are not familiar with winter car maintenance can find themselves with some costly repairs. Here are four items to keep in mind as you brace for the next winter storm.
Fill up your fluids properly. Not maintaining your fluid levels or doing so with the incorrect mixture can lead to numerous expensive repairs. Keep your windshield-washer fluid reservoir full using an antifreeze version in the winter to ensure your reservoir doesn’t freeze and crack and your [...] Continue Reading…

Retail Stocks Weak On January Sales
NEW YORK (TheStreet) — Retail stocks remained muted Tuesday following lackluster January sales. While sales edged up 0.3% for the month, it wasn’t enough to meet consensus estimates of 0.6% increase. Much of the gain also came from higher gasoline prices. Excluding auto and gas sales, retail sales rose just 0.2%. …
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Teens charged in auto break-ins
Greenville police have arrested four teenagers for a string of auto burglaries.
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Healthspring fourth quarter revenues increase 29.4% to .9 million
HealthSpring, Inc. today announced its results for the fourth quarter and year [...] Continue Reading…

From a report by bankrate.com, 6.19% (60-month, new car)
7.18% (36-month, used car)
Here’s a look at the state of auto loan rates from Bankrate.com’s weekly national survey of large banks and thrifts conducted Feb. 16, 2011.
Auto loan rates mostly idled in place this week. The average rates for 48-month new-car loan and 60-month new-car loan stayed put at 6.14 percent and 6.19 percent, respectively.
Used-car loan rates were up by small margins. The average rate… Read more from Bankrate.com
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Assembly in the Ohira, Japan Toyota factory By Bertel Schmitt, contributorFebruary 17, 2011: 12:38 PM ET FORTUNE/The Truth About Cars — Today, I saw a new, and so far the finest specimen of Japan’s new export products: A car factory. Recall the press about a new Toyota factory in the Miyagi Prefecture with a U-shaped assembly line where the assembly time is cut down to a third? Not only did they get it wrong. They missed the best part of the story: Budget car factories, ready for export.
Ohira is a little village near Sendai. Sendai is a town two [...] Continue Reading…

Allstate lawsuit says J.P. Morgan Chase sold it ‘toxic loans’
(Crain’s) — Allstate Corp. has sued J.P. Morgan Chase & Co. for alleged fraud and negligent misrepresentation of millions in mortgage-backed securities the financial giant sold to the insurer.
Read more on Crain’s Chicago Business

Man jailed after fraudulent spree
A Durham man was in jail Monday under a $ 1 million bond on charges he was part of an elaborate identity-theft operation that included a shopping spree on Greenville Boulevard.
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GM to pay more than 0 million in worker bonuses
Less than two years after entering bankruptcy, General [...] Continue Reading…

Farewell, Family Truckster, farewell By Alex Taylor III, senior editor at largeFebruary 15, 2011: 1:12 PM ET FORTUNE — The news came like a blow to the gut for this child of 1950s suburbia:
Volvo, the company most associated with station wagons for the last 20 years, will stop selling wagons in the U.S. The market is drying up. The Volvo wagon had been on life support for months. After dropping the larger V70 Volvo in 2010, Doug Speck, CEO of Volvo Cars of North America, told Automotive News he was giving the V50 another year because there “is a [...] Continue Reading…

Biz Buzz: Gish to speak at Hanford chamber luncheon
HANFORD – The Hanford Chamber of Commerce will hold the second luncheon in its new lunch series Feb. 18. The speaker will be KMPH Channel 26 financial commentator Mike Gish.
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Bank lending rose 8.9% in 2010 – BSP
 MANILA, Philippines – Bank lending grew at a slower rate in 2010 at 8.9 percent compared to end-2009’s 10 percent expansion in total loan releases.   “There is a slowing in bank lending but we see this improving (this year),” said Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco [...] Continue Reading…

Not surprisingly, the Suzuki Kizashi is considerably better to drive than this. The Kizashi, however, does not come with chips. By Peter Valdes-Dapena, senior writerFebruary 11, 2011: 5:22 PM ET NEW YORK (CNNMoney) — It’s big, comfortable and gets great fuel economy but it’s kind of slow, doesn’t drive very well and the braking stinks. That shouldn’t be too surprising, considering that this is an Archie Bunker-era couch.
The drivable sofa with a one-cylinder engine, on display in the American Suzuki booth at the Chicago Auto Show, is the punchline to an ad touting Suzuki’s new Kizashi sports sedan’s ride, [...] Continue Reading…

Teacher leaders starting strong
A cohort of teachers piloting a new teacher leader program for Pitt County Schools is off to a strong start improving instruction for students and paving the way for more teacher leaders at additional schools, supervisors say.
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Lotus on track for turnaround despite £12m losses
Sports car brand and engineering consultancy Lotus has reported a £12m loss last year despite an uplift in sales.
Read more on EDP24 – Eastern Daily Press