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Junkyard Gem: 1962 Buick Electra 225 4-Door Sedan

Buick built its first Electras as 1959 models, with Electra production continuing unabated through 1990 (after which the Park Avenue trim level took over as the model name, much as the Malibu trim level designation had shoved aside the Chevelle model name in 1978). Some of the handsomest Electras were the second-generation models, built for the 1961-1964 model years, and today's Junkyard Gem is one of those cars. I'd always assumed that the Buick Electra took its name from the daughter of Clytemnestra and Agamemnon in Greek mythology, because the people who named cars back then were forced to read Euripides and Sophocles as undergrads. In fact, the car was named after Electra Waggoner Bowman Biggs, a Texas heiress and sculptor who married the brother-in-law of Harlow Curtice, who ran the Buick Division before being promoted to president of General Motors in 1953. How did she feel when the last Electra rolled off the assembly line in 1990? The junkyard is full of history, if you know where to look. The 1959-1960 Electra had enormous tailfins, angled something like the ones seen on the same-year Chevrolet Impalas. This Electra generation ditched the fins but kept much of the general Space Age spirit of its predecessor. The Electra lived on the same platform as the Cadillac DeVille and Oldsmobile 98 from start to finish, and it was the most expensive Buick available in 1962. The MSRP of this one was $4,051, or about $41,462 in 2023 dollars. The engine in this one was present when it arrived at U-Pull-&-Pay, but a junkyard shopper grabbed it within a couple of days of arrival. It would have been a 401-cubic-inch (6.5-liter) "Nailhead" V8, rated at 325 horsepower and a whopping 445 pound-feet of torque (keep in mind that these are gross, not net, power numbers). The Nailhead's small valves meant that it wasn't much good for high-rpm use, but its big torque was perfect for moving two-ton land yachts. The final Nailheads were installed in 1966 Buicks. Every production Electra ever built came with an automatic transmission, and the 1959-1963 models received the extremely smooth and alarmingly inefficient Dynaflow (known as the Dual-Path Turbine Drive for 1962). Originally developed for use in the 1943 M18 Hellcat tank destroyer, the Dynaflow was considered a two-speed automatic but drove more like a CVT with two selectable drive ranges.

General Motors posts record earnings, but global sales fall

General Motors started the year with record success. The automaker's $2.7 billion in adjusted earnings before interest and taxes was its highest ever in in the first quarter of 2016, up from $2.1 billion in from the same time period a year earlier. Net income grew to $1.95 billion, which was more than double the $953 million in the same period last year. The company's figures also beat analysts' predictions, according to the Detroit Free Press. Despite the financial growth, global sales actually decreased by 2.5 percent to 2.36 million vehicles. "We're growing where it counts, gaining retail share in the US, outpacing the industry in Europe and capitalizing on robust growth in SUV and luxury segments in China," CEO Mary Barra said in the company's financial announcement. GM did well in North America with an adjusted EBIT of $2.3 billion, up from $2.2 billion last year. Sales in the region also grew 1.2 percent to 800,000 vehicles. According to The Detroit Free Press, the company has been especially successful at selling more expensive models in the US. The company's average vehicle was $34,600 in Q1, about $3,000 more than the industry average. Elsewhere in the world, GM also showed improvement. Europe practically broke even after losing about $200 million last year, and Opel and Vauxhall sales grew 8.4 percent to more than 300,000 vehicles for the quarter. South America only lost $100 million, which was half as much as Q1 2015's $200 million loss. China remained flat at $500 million of income. Cadillac volume jumped 6.1 percent there, and Buick's deliveries increased 22 percent, thanks to the Envision crossover's success. GM Reports First-Quarter Net Income of $2.0 Billion 2016-04-21 EPS diluted of $1.24; First-quarter record EPS diluted-adjusted of $1.26 First-quarter record EBIT-adjusted of $2.7 billion GM Europe posts break-even performance DETROIT – General Motors Co. (NYSE: GM) today announced first-quarter net income to common stockholders of $2.0 billion or $1.24 per diluted share, compared to $0.9 billion or $0.56 per diluted share a year ago. Earnings per share diluted-adjusted for special items was a first-quarter record at $1.26, up 47 percent compared to the first quarter of 2015. The company set first-quarter records for earnings and margin, with earnings before interest and tax (EBIT) adjusted of $2.7 billion and EBIT-adjusted margin of 7.1 percent.

Mysterious white powder discovered at GM Orion Assembly

Workers at General Motors Orion Assembly Plant in Orion Township, MI uncovered a mysterious white powder in two different parts of the factory earlier this week, raising concerns about worker safety. "We can confirm that an unknown substance (white powder) was found on the floor outside of Gate 6 at Orion Assembly on Monday, August 29. On Tuesday, August 30, we had a second report of a bottle containing a similar substance found inside the plant," GM spokesperson Dayna Hart told The Oakland Press via email. GM stressed that incident didn't disrupt operations at the plant, and that the company was taking steps to ensure the safety of the sprawling factory's workers. That did include, an anonymous worker told The Oakland Press, closing off parts of the factory for two full days, as drug-sniffing dogs and crews in haz-mat suits descended on the area. "A sample of the substance has been sent to a laboratory for identification and results are expected later this week," Hart said. "All findings and actions have been shared with our employees." Orion Assembly currently builds the Chevrolet Sonic and Buick Verano, and will eventually be responsible for production of the new, all-electric Chevy Bolt early next year. Related Video: