U.S. Senator Rand Paul, a potential 2016 Republican presidential candidate, called for expanded school choice for poor and minority children while visiting President Barack Obama’s Democrat-dominated hometown of Chicago.
General Motors Co. replaced the head of its global vehicle engineering unit in a reorganization that includes more than doubling the number of product investigators after a small-car recall linked to at least 13 deaths raised concerns about vehicle safety at the automaker.
Ford Motor Co. Chief Executive Officer Alan Mulally is lining up a substantial corporate position for his next act, probably as a board director or chairman, according to people with knowledge of his plans.
A lawsuit against General Motors Co. in California over ignition-switch defects linked to 13 deaths was put on hold until a bankruptcy judge in New York rules on whether some compensation claims can be brought without violating a court order in the company’s 2009 reorganization.
Richard Ravitch, who helped New York weather its fiscal crisis in the 1970s, was named by the judge overseeing Detroit’s record municipal bankruptcy as a court adviser to help evaluate that city’s debt-cutting plan.
General Motors Co., which is fighting at least 37 lawsuits over faulty ignition switches, asked a bankruptcy judge to reaffirm a 2009 order freeing the automaker from most of its predecessor’s liabilities.
Volkswagen AG forecast its sales in China will increase 10 percent or more in 2014, signaling the German automaker will outsell General Motors Co. in the world’s biggest auto market for a second-straight year.
In Detroit, 45 percent of the population rents and the remaining 55 percent are homeowners. And in the past year the Detroit real estate market has seen an 4.3 percent increase in value, with a median sales price of $26,500, according to Zillow.