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Kurt Busch suspended indefinitely after losing appeal

NASCAR has officially suspended Kurt Busch indefinitely after he was found in violation of two specific clauses in the stock racing rulebook, specifically "Actions detrimental to stock car racing" and a "Behavioral Penalty." Earlier in the week, the State of Delaware issued an Order of Protection from Abuse against him after a case detailing alleged domestic violence committed by Busch against his girlfriend, Patricia Driscoll, reached its conclusion. Busch and his legal team have exhausted all of their appeals options, meaning the indefinite suspension is official and final. Busch will not take part in the Daytona 500, which kicks off the 2015 NASCAR season today. Regan Smith will drive the No. 41 Stewart-Haas Chevrolet today at Daytona. It's not yet clear if Busch will face criminal charges over the domestic abuse incident. A Commissioner for Kent County in Delaware found that a "preponderance of evidence" led him to conclude that Busch did indeed commit "an act of domestic violence" against Driscoll, but that is a separate matter from the police investigation into the incident that is now in the hands of the office of the attorney general. NASCAR INDEFINITELY SUSPENDS DRIVER KURT BUSCH Daytona Beach, Fla. (Feb. 20, 2015) -- NASCAR has indefinitely suspended driver Kurt Busch for actions detrimental to stock car racing following the release today of a supplemental disposition setting forth the findings and conclusions that formed the basis for the Family Court of the State of Delaware's decision on Monday to issue an Order of Protection from Abuse against him. Busch, driver of the No. 41 car, was found to be in violation of: • Section 12.1.a: Actions detrimental to stock car racing • Section 12.8: Behavioral Penalty "Given the serious nature of the findings and conclusions made by the Commissioner of the Family Court of the State of Delaware, NASCAR has indefinitely suspended driver Kurt Busch, effective immediately. He will not be allowed to race nor participate in any NASCAR activities until further notice. "Kurt Busch and his Stewart-Haas Racing team are fully aware of our position and why this decision was made. We will continue to respect the process and timetable of the authorities involved." News Source: NASCAR via Nascar.comImage Credit: Maddie Meyer/Getty Celebrities Government/Legal Motorsports Chevrolet Racing Vehicles stock car racing stewart-haas racing domestic violence patricia driscoll

GM to cut production at 5 plants in North America, kill several models

DETROIT/WASHINGTON — General Motors Co said on Monday it will cut production of slow-selling models and slash its North American workforce in the face of a stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles. The announcement is the biggest restructuring in North America for the U.S. No. 1 carmaker since its bankruptcy a decade ago. GM said it will take pre-tax charges of $3 billion to $3.8 billion to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6 billion by the end of 2020. GM plans to halt production next year at three assembly plants: Lordstown, Ohio, Hamtramck, Michigan, and Oshawa, Ontario. The company also plans to stop building several models now assembled at those plants, including the Chevrolet Cruze, the Cadillac CT6 and the Buick LaCrosse, the sources said. Sources said the Chevrolet Volt, Impala and Cadillac XTS would also be discontinued. Signs of the demise of six passenger-car models have been swirling since July. Plants in Baltimore, Maryland, and Warren, Michigan, that assemble powertrain components have no products assigned to them after 2019 and thus are at risk of closure, the company said. It will also close two factories outside North America, but did not identify those plants. The AP reported that 14,700 jobs would be affected. Some 8,100 of those would be white-collar jobs reduced through buyouts or layoffs. The No. 1 U.S. automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America. The company also said it will cut executive ranks by 25 per cent to "streamline decision making." Some 6,000 factory workers could lose their jobs or be transferred to other plants. Its shares were last up 6.2 percent at $38.16. Tariff 'headwinds' and cost-cutting GM Chief Executive Officer Mary Barra told reporters on Monday the company can reduce annual capital spending by $1.5 billion and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. Some 75 percent of its global sales will come from just five vehicle architectures by early in the 2020s. It plans to reduce annual capital spending to $7 billion by 2020 from an average of $8.5 billion a year during the 2017-2019 period.

Recharge Wrap-up: Chevy Volt class action suit proposed, Tesla stock could outperform in 2015

A class action suit has been proposed against General Motors for a steering problem in the Chevrolet Volt. The plaintiffs claim that a defect can cause the steering to freeze intermittently, and that General Motors either knows or should have known about the problem. The case, filed in New Jersey, also claims that defective parts are replaced with the same or similar parts, which are also defective. The plaintiffs say that claims for the 100-plus-member class exceed $5 million. Read more at Law360 or at BigClassAction. Tesla Motors stock (TSLA) has risen after weeks of losses. It gained 5.4 percent during the week ending December 19, when it closed at $219.29 per share. Since then, it rose slightly more, closing at $222.26 on December 24. Morgan Stanley lowered its target price on Tesla stock from $320 to $290, predicting lower sales on the upcoming Model III than expected before, but still called Tesla a good long-term investment. Analysts at CNBC predicted Tesla to be the best performing stock of 2015. Read more at ETF Daily News. Oslo- and New York-based architecture firm Snohetta has designed a zero-emissions house that also charges an electric car. The ZEB Pilot House, built in Larvik, Norway, uses a solar panel on the roof to power the house, which also provides enough excess energy to charge an EV. To make the most of energy most efficiently, the house uses smart technology to use as much energy as it can once it's harvested. This means one can turn on appliances like the washing machine remotely while the sun is at the optimum angle in the sky - perhaps during mid-day when the residents are at work. The house also uses organic materials and is designed to save as much energy as possible. Read more at Wired.