Transportation

DETROIT and SICHUAN, Oct. 9, 2009 - General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain HUMMER brand.

Under the terms of the definitive agreement, the buyer will acquire the ownership of the HUMMER brand, trademark and tradenames, as well as specific IP license rights necessary for the manufacture of HUMMER vehicles. The buyer will also assume the existing dealer agreements relating to HUMMER's dealership network.    » read more »

Tracking Volatile Energy Prices

Energy prices are volatile. They change as market participants adjust their expectations to new information from physical energy markets and markets for energy-related financial derivatives. Futures and options markets are a valuable source of information regarding these changing expectations.    » read more »

October 7, 2009 -- Congresswoman Louise M. Slaughter (D-NY-28) today said the state’s $11.6 billion request for additional stimulus funds to improve high-speed rail service from Niagara Falls to New York City will help spark new economic growth.

“This application is an important step forward in building a better economic future for New York,” said Slaughter. “High-speed rail has the potential to expand our regional workforce, improve commerce, generate new tourism opportunities and spark revitalization in our region for years to come. Eventually I hope to connect the Empire Corridor to Toronto, Montreal and back down to Albany creating a large economic development center.”    » read more »

Bipartisan Initiative Creates Jobs and Enhances US Image Abroad

October 7, 2009 -- WASHINGTON, DC – Legislation championed by U.S. Rep. Bill Delahunt to promote international travel to the United States has cleared its final hurdle in the U.S. House of Representatives today.

“The Travel Promotion Act will not only boost travel and create jobs in the tourism industry, it will enhance America’s image around the world,” Delahunt said. “Over the past eight years, the United States’ share of the world travel market has decreased by nearly 20 percent, costing thousands of jobs and billions of dollars in revenue. We need to reverse that trend and create more jobs here at home.”    » read more »

State Seeking $11.6 Billion in Federal Economic Recovery Grants to Develop Empire Corridor

October 6, 2009 -- New York Governor David A. Paterson today announced that the New York State Department of Transportation (NYSDOT) has applied for $11.6 billion in American Recovery and Reinvestment Act (ARRA) funding to improve high-speed rail service along the Empire Corridor between New York City and Niagara Falls.    » read more »

October 7, 2009 -- TRENTON - New Jersey Governor Jon S. Corzine issued the following Executive Order to ensure transparency and accountability regarding the expenditure of public funds on the Mass Transit Tunnel project.

The full text of the Executive Order is below.

EXECUTIVE ORDER NO. 155

WHEREAS, the Mass Transit Tunnel project is the largest transit public works project in the United States, and includes the construction of two single-track rail tunnels under the Hudson River to service existing NJ Transit passenger rail lines, an expanded New York Penn Station and other key elements to address the pressing regional transportation needs; and    » read more »

Federal Recovery-funded projects help create jobs, improve infrastructure

October 6, 2009 -- DES MOINES – Iowa Governor Chet Culver has announced that nine highway infrastructure projects statewide, worth more than $5.7 million, have been let by the Iowa Department of Transportation (DOT).

These projects are funded in total or part through the American Recovery and Reinvestment Act of 2009 (Recovery Act). Acceptance of the low-bid proposals and awarding of contracts are contingent upon final approval by the respective city or county governments.    » read more »

BRENTWOOD, Essex, 6 October 2009 – Ford car sales were up by over 22 per cent in September, compared with the same month in 2008. This is twice the size of the market increase after a busy month of new "59" plate and "scrappage" registrations.

Over 54,500 new cars left Ford dealerships – 22.2 per cent more than during September 2008.

The market leader, Ford, took 14.8 per cent of all car sales and 15.7 per cent of the total UK vehicle market last month once commercial vehicle registrations are factored in. In either case, Ford's share is around a percentage point higher than a year ago.    » read more »

More competitive operating model and streamlined leadership structure in place

2009-10-07 -- DETROIT - General Motors today outlined progress it has made toward achieving commitments in its business plan, including implementing a leaner structure, building stronger brands, and driving a company culture that puts the customer at the center of everything it does.    » read more »

October 6, 2009 -- WASHINGTON, DC – Senator Frank R. Lautenberg (D-NJ) today announced that the U.S. Department of Transportation has awarded New Jersey more than $8 million in new federal funding to improve intermodal stations and expand local bus service throughout the state. The funds will provide for construction and the expansion of existing stations.    » read more »

October 1, 2009 -- Department of Homeland Security (DHS) Secretary Janet Napolitano today announced more than $355 million in funding for more than a dozen airport security projects funded by the American Recovery and Reinvestment Act (ARRA).

“These state-of-the-art technologies will bolster security and increase efficiency for both travelers and employees,” said Secretary Napolitano. “Investing Recovery Act funds in these critical airport projects will create jobs in local communities while strengthening our efforts to guard against terrorism.”    » read more »

October 1, 2009 -- WASHINGTON — With the purchase of five compressed natural gas buses and 35 hybrid buses, the U.S. General Services Administration has successfully completed one of the Administration’s key initiatives to green the federal fleet through the American Recovery and Reinvestment Act.

“We’re proud to have completed this program under such an aggressive schedule,” said GSA Acting Administrator Paul F. Prouty. “By investing in more fuel-efficient federal vehicles, we’re contributing to the nation’s economic recovery while realizing significant long-term savings for both the taxpayer and the environment.”    » read more »

FHWA, Oklahoma State University to Partner on Critical Research Endeavor

October 5, 2009 -- WASHINGTON, D.C. – FHWA will conduct an ambitious new study to better understand and prevent motorcycle crashes, Administrator Victor Mendez announced today.

Despite years of steadily improving highway safety and roadway fatalities at historic lows, motorcycle riders remain one of the highest-risk groups on America’s roads. Nearly 5,300 motorcycle riders died in roadway crashes in 2008, accounting for 14 percent of all traffic fatalities, and 96,000 were injured.    » read more »

October 5, 2009 -- Portland, OR – A preliminary study of the Pioneer Line needs to more fully explore key issues of cost and ridership before Congress can make a decision about restoring passenger rail service to Eastern Oregon, Senator Ron Wyden said in a letter to the president and CEO of Amtrak.

“It is apparent that the Pioneer has the potential to greatly benefit the State of Oregon by providing an alternative means of passenger transportation,” Wyden said in the letter to Joseph H. Boardman. “However, the current report does not fully explore several important issues, thus preventing Congress from making an educated decision about the line.”    » read more »

Schumer Calls On Congress To Quickly Pass His Legislation Banning Dangerous Practice

October 4, 2009 -- Today, U.S. Senator Charles E. Schumer released a new report showing the severe danger of texting while driving posed to New York City area teenagers. Schumer’s report found that nearly 100 teenagers were killed in the New York City area in just the last five years in accidents where the driver was found to be texting while they were driving.    » read more »