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Canada bailed out GM, Chrysler without really knowing what they were getting into

The Auditor General of Canada recently issued a report that makes at least one thing clear: it doesn't know how effective Canadian government loans given to General Motors and Chrysler in 2009 were in ensuring the viability of both companies. That year, the Canadian and Ontario governments dished out $10.8 billion CAD ($9.6B US) to GM and $2.9 billion CAD ($2.6B US) to Chrysler, but hadn't yet sorted out precisely how the funds were to be used before disbursing them. This happened in spite of the fact that, according to a piece in Bloomberg, the loans weren't meant to be handed out until authorities were clear on the manufacturers' plans for reorganization. In fact, federal officials hadn't finished establishing the concessions made by all the involved parties, the pension liabilities, nor the long-term soundness of the automakers' financial positions. On top of that, apparently it didn't keep close tabs on the money after loaning it: the report says that $1B CAD should have been applied to GM Canada pension plans but was instead given to GM to use. Chrysler repaid $1.7 billion, while GM handed back $3.8 billion and Bloomberg believes the feds in Ottawa still own 110 million shares of The General, which, at the stock price as of writing, would be good for another $3.9 billion. Those were mad, bad days, though, and we're not sure what point the report serves, other than to say, "Oh, by the way...." News Source: BloombergImage Credit: Bill Pugliano / Getty Images Government/Legal Chrysler GM bailout

2018 Chrysler Pacifica Hybrid Long-Term Update | Nokian winter tires in a winter wonderland

Winter is technically over now, but the cold and snow are maintaining their grip here in Michigan. While much of the country is bouncing right along into a warm spring, we're happy to still be wearing our Nokian Hakkapeliitta winter tires on our long-term Chrysler Pacifica Hybrid. You can't count out another massive blizzard even into late April here. That said, we're hoping the worst is over, so it's time to take stock of how the winter tires performed on the front-wheel-drive minivan. Nokian produced the first winter tire ever in 1934, so one could say that they've had awhile to figure this out. The tire model we were provided for our van is the Hakkapeliitta R3 SUV. The Pacifica is obviously no SUV, but at almost 5,000 pounds it's perfect for this flavor of tire. Nokian says they're designed for high performance SUVs and are made with Aramid sidewalls to resist punctures or cuts. Chrysler fits the Pacifica Hybrid with all-season tires from the factory, but we were determined to make it a proper seven passenger sleigh. We got a fair amount of snow this year in Michigan, but I encountered the worst conditions on a road trip to Buffalo, N.Y. I was actually sort of hoping a lake-effect blizzard might present itself as a challenge, and my snow prayers were answered with authority. Inches of snow don't usually pile up on highways here easily with the amount of plows and salt typically employed, but it did in this storm. The Pacifica hardly flinched from the deep tracks of powder on the road. Near-whiteout conditions forced slow driving, but the Pacifica never felt like it was going to slip and slide out of its lane as I tracked around highway bends with increasing speed. Braking was impressive, as the tires managed to find grip in the snow that all-season tires just can't match. Thankfully, I never needed 100 percent lock in any emergency situations, but I tried it out in some empty parking lots to see how well it does at hauling everything to a stop. The Nokians performed admirably here, too. With ABS firing away, the winter rubber finds grip in places all-seasons would just slide on by. Starting wasn't much of an issue, either. We tested the tires in anything from dustings to snow that was about six inches deep and largely untouched by other vehicles. The front tires would scrabble for grip initially with greater throttle inputs in the deep stuff, but they'd hook and pull the van forward with authority after a quick second.

Feds investigating FCA sales fraud focusing on strange code word

The US government is currently investigating Fiat Chrysler Automobiles (FCA) over the possibility of sales fraud, and according to The Wall Street Journal, the investigation has revealed a strange phrase about a nonexistent "unnatural acts department." People knowledgeable about the term told The Wall Street Journal that this phrase was a "rallying cry." Basically, if it looked like the company, region, or dealer wasn't going to hit sales targets, this was a sign that some outside-the-box sales solutions were needed. People told the news outlet those solutions could include selling cars at a loss or having the dealer buy a fleet of customer test-drive cars. However, this could also be evidence of some less savory ways to boost sales. In addition to the investigation, the company is already facing at least one lawsuit from a dealer group that alleges it would bribe dealers to pad monthly sales figures. FCA had an incentive to maintain sales numbers as well, considering that it was claiming a long streak of increasing sales. Under scrutiny recently, the company changed its sales reporting practices and numbers for previous years. Under the old reporting methods, it was possible for dealers to sell cars, report the sales, and then cancel or "unwind" the sales later. This wouldn't count as a lost sale, but the car also couldn't be recorded as another sale later. As a result, an unscrupulous dealer could have hypothetically used it to "sell" a car one month and "unwind" it the next. If FCA knew about this, it's also possible the company could have pushed dealers to use the system for false sales, something the Feds theorize may be related to the "unnatural acts department" phrase. It's still entirely possible this "unnatural acts department" was just a corporate term for thinking of creative ways to meet sales goals. And selling cars at a loss is definitely unnatural for businesses that are trying to make money. Whatever the phrase truly meant to dealers, it certainly is bizarre. Related Video: News Source: The Wall Street JournalImage Credit: GIUSEPPE CACACE/AFP/Getty Images Government/Legal Chrysler Fiat FCA fiat chrysler automobiles fca us investigation