Lunes, Hunyo 29, 2020

Court backs president's right to fire CFPB director

The court in a 5-4 ruling said the current structure of the federal watchdog is "unconstitutional" without oversight from the executive branch. Previously, the CFPB director could only be removed by the president for "inefficiency, neglect of duty, or malfeasance in office."



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Ex-UAW President Dennis Williams returns $55,000 in travel expenses

Williams returned the money after an internal UAW investigation found the expenditures were "not appropriate." UAW President Rory Gamble is set to meet with U.S. Attorney Matthew Schneider on Tuesday to discuss reform efforts amid a federal corruption probe.



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Woodward Dream Cruise canceled over COVID-19 concerns

DETROIT -- The 26th annual Woodward Dream Cruise has been canceled, officially, due to public health concerns caused by the COVID-19 pandemic.

Organizers posted the news on the cruise website Monday morning: "Notice: Due to public health concerns caused by COVID-19, all community events planned for the 26th Annual Woodward Dream Cruise have been canceled. Stay safe. Be responsible."

This year's event was set for Aug. 15, but already communities along the 16-mile route in Oakland County had called off all special events associated with the cruise, including "Mustang Alley" in Ferndale, and various sponsored events.

The Woodward Dream Cruise typically attracts around 1 million people and 40,000 cars to the stretch of the M-1 highway from the Detroit border to Pontiac, Mich.

Just last year, projections for the event were optimistic as the cruise brought in more backers, totaling 35 sponsors. The increase brought 2019's sponsorship dollars to $500,000, up from $483,000 the previous year. The funds typically went toward a range of event expenses, such as tent set-ups and live music, while residual funds were given to the nine participating cities.

The Dream Cruise has been run officially every year since 1995 when it started as a local fundraiser and has grown to include automaker and supplier sponsorships, massive displays, car shows as well as watch parties, parades and celebrity meet-and-greets.



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John Mooney, the force behind catalytic converters, dies at 90

Mooney, who died June 16 at home in Wyckoff, N.J., is credited with a big breakthrough, while working at supplier Engelhard, in advancing one of the most important anti-pollution devices since the creation of the car.



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U.S. appeals court stays order requiring GM, FCA CEOs to meet

The Sixth U.S. Circuit Court of Appeals said in a filing: "In order to provide sufficient time to consider the matters raised in GM’s petition, and having considered the relevant factors, we conclude that a temporary stay is appropriate."



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Online used-vehicle seller Shift to go public through reverse merger

Shift will merge with a special purpose acquisition company, valuing the combined entity at $730 million on a pro forma basis.



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GM Defense lands $214 million Army contract

The vehicle is based on the 2020 Chevrolet Colorado ZR2 architecture. The Army authorized the purchase of 649 units of the infantry support vehicle and can increase that to 1,070.



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