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Best of the Blogs, Transportation: Automakers Brace for Euro Crisis Impact

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Plus, SAAB sold, Navistar loses court ruling, and fuel efficiency less "important" to consumers.

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MINYANVILLE ORIGINAL This column highlights the most interesting and useful financial commentary on transportation from around the Web every Thursday.
The Detroit News: Autos
Link: Europe crisis worries Big 3; car sales could suffer
"With Greeks headed to the polls Sunday to cast their ballots in an election that could determine the fate of the euro, Detroit's automakers are growing more concerned about the economic crisis on the other side of the Atlantic.

"The prevailing uncertainty about the future of the European Union and its common currency has undermined automobile sales in the region, leaving General Motors Co. (GM), Ford Motor Co. (F) and Chrysler Group LLC's parent, Fiat SpA (F.MI), with far too much capacity. But strong national sentiments and the desire of left-leaning governments to protect prized auto jobs continue to prevent the sort of restructuring that happened in the United States."

The Wall Street Journal: Driver's Seat
Link: Car Shoppers Seem Less Concerned About Fuel Economy
"The average fuel economy of new vehicles sold in May increased compared with a year earlier but fell compared with the last two months. New cars sold last month averaged 23.2 miles per gallon according to a report from automotive research and forecasting company TrueCar."

NationalJournal: Transportation Experts Blog
Link: Cutting Highways Is Not So Popular
"It was a pretty poor showing last Friday for an idea touted by House Republican leaders just a year and a half ago. On Friday, only about one-third of the House Republicans cast their votes in favor of a nonbinding, message to legislators that they should keep infrastructure spending within the limits of the highway trust fund, which would have the practical effect of cutting highway funding by about one-third."

Reuters
Link: Judge blocks union election at American Airlines
"A judge on Wednesday temporarily halted a union organizing drive for 10,000 passenger service agents at bankrupt American Airlines (AAMRQ) that had been cleared by federal mediators."

The New York Times: Global Business
Link: Consortium Buys Saab Automobile and Plans Electric Cars
"More than a year after it last made a car, Saab Automobile of Sweden was sold on Wednesday to a group of Chinese, Japanese and Swedish investors who plan to convert the company into a manufacturer of electric vehicles.

"Saab's bankruptcy administrators, Anne-Marie Pouteaux and Hans L. Bergqvist, said in a statement that the company was being acquired by National Electric Vehicle Sweden, a company set up for buying Saab assets. The price was not disclosed."

Bloomberg
Link: Navistar Falls After Court Throws Out EPA Engine Rule
"Navistar International Corp. (NAV), the third-biggest U.S. and Canadian maker of truck engines, fell 5.5% after a US appeals court ruled it can no longer pay fines to sell engines that don't comply with 2010 environmental standards.

The US Court of Appeals in Washington threw out an interim rule by the Environmental Protection Agency designed to let Navistar sell the noncompliant engines if it paid a fine. The court found the agency violated the Administrative Procedures Act by issuing the interim final rule, or IFR, without opportunity for comment or formal notice.
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