Wednesday, April 01, 2009

General Motors Sold to Consortium of Transit Agencies

Big news today: As published in today's Wall Street Journal, as part of the recently announced federal bailout package for automakers, control of General Motors has been transferred via receivership to a group of government agencies with expertise in transportation management:

"The once-titan manufacturer's well-known brands and lesser-known operating units will eventually be divided into component parts, but for the time being are held as a single entity designated National Car Lines. Not limited to just GM, government officials briefed on the plan state that NCL is structured as a holding company for the express purpose of acquiring automakers throughout the United States."

What this means for carsharing you can find here.

Thanks to Portland transportation activist and blogger Chris Smith and Portland Transport for this wonderful idea.