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Filed under: Government/Legal, GM, Earnings/Financials

Now that General Motors has submitted the necessary paperwork for its IPO to the SEC, Forbes read through the entire 734 page filing and found this curious tidbit: “We have determined that our disclosure controls and procedures and our internal control over financial reporting are currently not effective.” And yes, that means exactly what you think it means.

In case you think it’s only cautious puffery, the document goes on to say, “Until we have been able to test the operating effectiveness of remediated internal controls and ensure the effectiveness of our disclosure controls and procedures, any material weaknesses may materially adversely affect our ability to report accurately our financial condition and results of operations in the future in a timely and reliable manner.”

Filed under: Misc. Auto Shows

There’s no doubt that classic cars make up the bulk of what keeps us coming to Detroit to cover the Woodward Dream Cruise year after year. But what makes a car a classic?

That question is as debatable as ever, but for the purposes of our coverage this weekend, we’re calling a classic anything built before 1964 or so. That’s around the first year you could buy a Pontiac GTO – what many consider to be the first true muscle car – and the end of what we’re calling our classic car era.

Filed under: Marketing/Advertising, Videos, Dodge, Humor

Ah yes. People for the Ethical Treatment of Animals. We here at Autoblog happen to be all for the ethical treatment of animals. And we’re people… allegedly. But we’re certainly not all fully in tune with the fine men and women that make up PETA. And we also happen to think that PETA sometimes goes a wee bit too far in their efforts to make man equal to beast… or is that the other way around?

Filed under: Hirings/Firings/Layoffs, GM

The announcement today that General Motors will soon be welcoming its fourth CEO in just 14 months was startling news, but the real unanswered question is just who is Dan Akerson? We’ve already told you what his business chops are and it’s clear the man can run a lemonade stand, but there’s virtually no other information available out there besides his resume. And as for pics, the entirety of the internet has but one to offer, which is Akerson’s glamor shot as a member of GM’s board of directors. Flattering? No. Looks like a high school principal’s year book picture.

Filed under: Concept Cars, Coupe, Performance, Ferrari, Design/Style, Racing

Brace yourself for big ol’ dose of sexy. Ferrari hasn’t exactly made a secret that this is the last year for the F430 GT in the American Le Mans Series. With its days numbered, more than a few souls have begun meditating on what will come next for the Prancing Horse’s ALMS teams. Most have settled on the notion that the new 458 Italia will make its way to the paddock in race guise, resulting in a 458 GT. Fortunately for us, one of those contemplative souls just happens to be the design guru Jon Sibal.

Filed under: Coupe, Videos, Porsche

We didn’t make it out to this year’s Spectre 341 Challenge as time just wasn’t on our side. Fortunately, we can live vicariously through a few of the participants, including Automobile scribe Ezra Dyer.

If you’re not familiar with the event, it has roots dating back to the early seventies, when then-president of the Ferrari Owners Club of Southern California, Hans Tanner, organized a hill climb up Nevada Highway 341.

Filed under: Car Buying, Coupe, Performance, Marketing/Advertising, Chevrolet, GM

Edmunds is honoring the top new vehicles of 2010 with its first annual Launch Breakthrough Award, and the online research site gives the winning nod to the 2010 Chevrolet Camaro. The award is given based on 18 different factors, including “pricing, sales, market share, dealer profit margins, incentives, consumer consideration, consumer ratings, inventory levels and residual values.” Senior Analyst Ray Zhou says the award “recognizes the vehicle that had the most successful introduction of the past year.” The Camaro captured the top prize with consistently strong demand from the minute it hit the showroom floor.

Filed under: Sedan, Chevrolet, GM, Police/Emergency

A new generation of police cruisers is afoot. We’ve already seen the likes of Ford‘s Taurus-based Police Interceptor up close, and we’ve even seen General Motors opens the floodgates with a full raft of images of its Caprice PPV. While Ford has opted to use its EcoBoost twin-turbo V6 for high-powered police action, Chevrolet has taken a more traditional approach, fitting the Caprice with a 6.0-liter V8 cranking out 355 horsepower and 384 pound-feet of torque, mated to a six-speed automatic transmission.

Filed under: Wagon, Government/Legal, Recalls, Safety, Hatchback, Toyota

Back in February, The National Highway Traffic Safety Administration initiated an investigation of 749,685 2009 and 2010 model year Corolla and Matrix vehicles for a potential steering issue. And while we haven’t heard much from the government agency regarding this issue, the Detroit Free Press reports that Toyota has indicated that the problem is not a safety defect and thus doesn’t warrant a recall. Instead, the automaker will provide a free fix to customers who claim to have an issue.

Filed under: SUV, First Drive, Luxury, Off-Road

The Porsche Cayenne wears many hats. It masquerades as both the automaker’s entry-level vehicle and as its flagship turbocharged SUV. Broad-shouldered in stature, one variant can blast to 60 mph in less than five seconds and top 170 mph, while another may be propelled quietly under the emissions-free power of electricity. Regardless of where they rank in the hierarchy, multi-talented Cayenne models are capable of traversing deep streams, towing 7,700-pound trailers and carrying five passengers and their luggage into the hands of waiting luxury hotel valets.