If you thought the decline in subscribers posted by Sirius XM Radio in its first quarter was ugly, you ain’t seen nothing yet. With the souring economy weighing heavy on the auto industry–a mainstay of Sirius’s business–and partner Chrysler navigating bankruptcy, the struggling company is bracing itself for continued subscriber losses in its second quarter.
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While $25 billion in low-cost federal loans keeps General Motors, Ford and Chrysler churning out SUVs through the econalypse, the wheels are coming off cleantech car company Tesla Motors. Without access to the same sorts of loans given its Detroit colleagues, the country’s leading electric car maker is delaying production of its Model S sedan, sacking an unspecified number of employees and shuttering two offices.
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So General Motors Chairman and CEO Rick Wagoner says the company expects to have driverless cars on the road by 2018.
Now, I know the autonomous Chevrolet Tahoe SUV that GM developed with Carnegie Mellon University (pictured above) did win the Urban Challenge competition held last fall by the U.S. Defense Department’s research agency. And I [...]
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