

Chrysler's "sales bank," the loathed program in which the automaker continues to manufacture and stock cars regardless of demand, is supposedly back through the end of the year. Chrysler LLC co-President Jim Press delivered the news to dealers on Friday during a nationally telecast conference call when he mentioned that district managers will be calling dealers trying to offload 12,000 units of unassigned inventory.
Dealers left the call gasping for air, recalled the summer of 2006, when Chrysler had nearly 650,000 units in the sales bank. At the time, there was a 91-day supply of vehicles. Today, with about 400,000 units in inventory, the automaker is sitting on a 117-day supply. While Chrysler claims repeatedly that they only make cars that dealers order, and have reduced production to match market share and plunging sales -- down nearly 28 percent this year -- stocks are still up. Why? According to a second report by Automotive News, Press clarifies his statements to the trade pub, saying that the vehicles being hoisted onto retailers were all ordered by dealers and later canceled due to dealerships that have closed, unsold vehicles from sales promotions, fleet customers that backed out or buyers that weren't able to secure financing. Despite the fact that dealers supposedly ordered these vehicles with the intention of selling them, we fail to see how pushing 12k in unsold product doesn't constitute a "sales bank" program.
General Motors seems pretty anxious to see its HUMMER division go away. In fact, it's called the sale "urgent," and recent actions appear to bolster that claim. James E. Taylor, the man who had formerly been helping lead Cadillac back to its "standard of the world" past-glory, has just been appointed the new CEO of the HUMMER brand. GM says that this upper-management move "marks a progression in the ongoing strategic review process." We read that to mean Taylor will help ready the brand for a quick sale. It also sounds like HUMMER's general manager, Martin Walsh, will attempt to smooth over any issues that the brand's sale will have with its current dealerships. Mark McNabb will oversee Taylor on his new assignment and will also shoulder the burden that's left at Caddy now that the brand has lost the man who had been at the helm. We've pasted the press release after the break if you'd like to try and decipher it for yourself.





The formula racing world is rife with the offspring of long-retired F1 drivers making a name for themselves: Rosberg and Piquet are already in F1, Jacques Villeneuve has already come and gone, and the Mansell brothers are working their way up, to name just a few. But since both the Schumacher brothers have retired, Formula One has been lacking that sibling rivalry. (Mind you, with Michael having won more championships than Ralf did races, it wasn't much of a competition).
However, we might get to see some serious brother-on-brother, wheel-to-wheel action in the near future. With his older sibling Kazuki (pictured at right) already racing for Williams-Toyota, 18-year-old Daisuki Nakajima is competing in the Japanese Formula 3 championship. Their father Satoru, who raced in about 80 grands prix in the late 80's and early 90's, says that Daisuki could be even faster than Kazuki. If that's the case, the younger Nakajima could find his way into F1 within the next couple of years, and then it'll be on.

