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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Ford Fusion demand outstripping supply

The attractive new 2013 Ford Fusion has done wonders for the brand in the highly competitive midsize sedan segment - the vehicle is up nearly 22 percent compared to last year. But that sales momentum may soon hold steady due to low inventory levels of the new Fusion across the United States.
According to a report in The Detroit News, citing automotive data and Ward's Auto, Ford currently has a 39-day supply of the Fusion. That might sound fine, but a normally healthy average is about a 60-day supply. If Ford were to stop production on the Fusion today, there would only be enough vehicles available to get through another five weeks of sales, according to the News.
Currently, Ford produces the Fusion at its three-shift assembly plant in Hermosillo, Mexico, and will add production at its facility in Flat Rock, MI later this year. A Ford spokesperson told The Detroit News that when Flat Rock production comes online, the automaker will need to rush new stock out to the regions with the most demand for the Fusion. Ford has doubled its coastal retail market share, with huge amounts of growth in areas like Los Angeles, San Francisco and Miami, the News reports.

All the details on Plug In 2014 electric vehicle conference you could ever want

One of the best parts of the Plug In 2014 Conference in San Jose, CA last week was getting to listen in on thoughts about the state of the plug-in vehicle industry from people who have been involved with it for ages. They bristle when you call them the "Old Guard" (learned that one the hard way), but these are the people who have been through a number of ups and downs with plug-in vehicles, so they've got what we call perspective. Their knowledge was on full display in the three plenary sessions, which the Plug In Conference organizers have given us permission to share with you. Each is at least 90 minutes long, so make sure to set some time aside to enjoy the discussions after you download them (any help with making them streamable would be appreciated). Follow us below to see what we've got to offer. Opening Plenary (audio link). "The Road Ahead – Delivering on a Vision for Sustainable Transportation." Moderated by Mark Duvall (director of energy utilization at EPRI, the Electric Power Research Institute, and a long-time EV advocate), this panel featured: Jack Broadbent, Executive Officer / APCO, Bay Area Air Quality Management District Pat Romano, President & Chief Executive Officer, ChargePoint, Inc. Aaron Johnson, Senior Director, Customer Programs, Pacific Gas and Electric Company Brendan Jones, Director, EV Sales Operations & Infrastructure Deployment, Nissan North America, Inc. David W. Cash, Commissioner, MassDEP Dan Sperling, Director, Institute of Transportation Studies, University of California, Davis Highlights: Educating drivers to "get over the gas station" is a key strategy, how Level 2 and DC Fast Charging are really "a new paradigm," that there have been well over 214,000 EVs sold in US as of July 2014 and where Nissan sees huge potential for more EV sales (Northeast US and medium-size cities like St. Louis and Pittsburgh). Wednesday Morning Plenary (audio link). "Getting to the Mass Market – A Discussion of Ideas for Widespread PEV Adoption." Moderated by John Gartner, research director for smart transportation at Navigant Research.