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GM today set the final terms for a landmark initial public offering that could raise up to $22.7 billion after a surge of interest in the automaker.  The IPO could be the largest ever in the United States — and a major first step toward break-even for a $50 billion U.S. government bailout of the 102-year-old company.

GM now plans to sell 478 million common shares for $32 to $33 each and $4 billion worth of preferred shares, according to an amended filing with U.S. securities regulators on Wednesday.

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The automaker had initially filed to sell 365 million shares for $26 to $29 each and $3 billion worth of preferred shares, but upped the terms in the face of robust demand.

The U.S. Treasury owns 61 percent of GM and may reduce its stake to as low as 26 percent following the IPO. The decision to raise the offering was made late Tuesday afternoon. The U.S. Treasury, GM and underwriters felt recent stock market declines wouldn’t deter investors, a person familiar with the discussions told The Wall Street Journal. Underwriters say they are receiving excess demand for available shares.

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Hybrid-Like Fuel Economy Starts at $18,895; Goes on Sale in January

The official fuel economy numbers for the 2011 Chevrolet Cruze Eco are in and they’re good. Segment-leading good. It delivers an estimated 42 mpg on the highway (manual transmission models), with equally impressive city fuel economy of 28 mpg.

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Cruze Eco’s highway fuel economy beats non-hybrid segment competitors – including 23 percent greater highway fuel economy than the Honda Civic – as well as the Ford Fiesta subcompact and many hybrid models. In fact, it’s better than Ford Fusion Hybrid, Nissan Altima Hybrid and Toyota Camry Hybrid.

“Chevrolet Cruze continues to redefine the compact segment, offering class-leading standard safety features, upscale amenities – as well as hybrid-like fuel economy without the price,” said Chuck Russell, vehicle line director. “The Cruze Eco is in a league of its own and will challenge perceptions of the efficiency available in a more affordable non-hybrid.”

The Cruze Eco carries an MSRP of $18,895 (including destination charge). It goes on sale in January.

To achieve its segment-leading fuel economy, Cruze’s engineers focused on aerodynamic performance, mass optimization and powertrain enhancements. The refinements in each area paid big dividends towards the car’s overall efficiency, while providing engineers with valuable information to help enhance the efficiency of future Chevrolet models.

“We left no stone unturned or piece of sheet metal un-weighed,” said Russell. “Our engineers were comprehensive and thorough when it came to evaluating and modifying the aspects of the car’s performance that contribute to fuel economy.”

AERO ENHANCEMENTS

Aerodynamic improvements over non-Eco manual-transmission models contributed approximately 6 mpg to the Cruze’s EPA-estimated 42 mpg highway fuel economy. Many were developed and refined in more than 500 hours of wind-tunnel testing of the Chevy Volt, which shares a core architecture with the Cruze. Examples include the upper grille, which has more “closeouts” to improve aerodynamics, a lower front air dam extension, a rear spoiler, a lowered ride height and underbody panels that smooth airflow beneath the car.

The Eco model also features an all-new technology in the compact segment: a lower front grille air shutter that closes at higher speeds to reduce aerodynamic drag and opens at lower speeds to optimize engine-cooling airflow. Another contributor to reduced drag is the use of ultra-low rolling resistance 17-inch Goodyear tires (used with lightweight wheels), which are also used on the Volt.

As a result of the aero enhancements, aerodynamic drag was reduced by 10 percent over a non-Eco model, with a coefficient of drag of 0.298. That places Cruze at the top of the class for mainstream compact cars.

MASS OPTIMIZATION

More than 42 changes were made on the Eco to reduce weight. It weighs in at 3,009 pounds (1,365 kg), compared to the 3,223 pounds (1,462 kg) of the Cruze 1LT. The diet program for the Cruze challenged engineers to look at all aspects of the vehicle’s construction, including hundreds of weld flanges on the vehicle. They were reduced 1 mm to 2 mm in length, which saved several pounds, while the sheet metal gauge thickness was reduced by about 0.1 mm in select components. This saved weight while preserving structural integrity.

Lighter wheels and tires are used on the Eco. They’re stylish, polished 17-inch alloy units with Goodyear tires that weigh only 36.5 pounds (16.6 kg) apiece. That’s 5.3 pounds (2.4 kg) less than the 16-inch wheel/tires of the Cruze 1LT for a complete savings to the vehicle of 21.2 pounds (9.6 kg).

EFFICIENT POWERTRAIN

Chevy Cruze Eco is powered by power-dense Ecotec 1.4L turbocharged engine and a standard six-speed manual transmission. The transmission’s gearing is optimized for the model’s specific 17-inch wheel/tire combination and includes aggressive ratios for first and second gear coupled with a highly efficient, “taller” sixth-gear ratio for highway driving. That means engine rpm is reduced on the highway, which in turn reduces fuel consumption. A six-speed automatic transmission is available, with EPA-estimated fuel economy ratings of 26 city and 37 highway.

The Ecotec 1.4L turbo’s power ratings are 138 horsepower (103 kW) and 148 lb.-ft. of torque (200 Nm) between 1,850 rpm and 4,900 rpm. The wide rpm range for the maximum torque – a specific trait of turbocharged engines – helps the engine deliver a better driving experience and performance. The turbocharger is integrated within the exhaust manifold, for reduced weight and greater packaging flexibility.

The engine also features premium design elements that give it world-class smoothness and durability while also contributing to the Cruze Eco’s lower curb weight. They include a cast iron block with a hollow frame structure, hollow-cast camshafts and a plastic intake manifold.

COMPARING THE COMPETITORS

As a result of aerodynamic improvements, mass reduction and powertrain optimization, the Cruze Eco offers the best fuel economy in the compact segment, while delivering hybrid-like fuel economy without the hybrid price. The following charts show how it compares with primary competitors and popular hybrids.

The 21st century rebirth of the Chevrolet Camaro opens a new chapter when the 2011 Camaro Convertible premieres at the Los Angeles International Auto Show on Nov. 17.

The Camaro Convertible will arrive in Chevrolet showrooms in February 2011. Starting price will be $30,000, including $850 destination. (Full details will be released later this year.)

“The Convertible will make the all-new Camaro, already a smash-hit, even more desirable to a greater range of drivers,” says Chris Perry, vice president of Chevrolet Marketing.

The Convertible model will be available in the same basic model offering as the Camaro Coupe. The standard model will have a 312-hp Direct Injection V6 engine featuring 29 miles per gallon on the highway. The SS model will feature the 6.2-liter V8 engine producing 426 hp. A six-speed manual transmission will be standard, with an optional six-speed automatic.

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Staff from CarePro/A Avenue Pharmacy will be at Pat McGrath Chevyland on Thursday, November 18th from 9:30am to 10:30am to give flu shots. This is the seasonal flu shot which does contain H1N1 and other commonly seen strains this year. The cost to employees will only be $12.50 payroll deducted as the Company will be paying the other half of the cost.

Please sign up on one of the sign-up sheets around the company by November 12^th so CarePro knows how much vaccine to bring.

Myth: “The flue isn’t a serious disease.”

Facts: Influenza (flu) is a serious disease of the nose, throat and lungs, and it can lead to pneumonia. Each year about 200,000 people in the U.S. are hospitalized and about 36,000 people die because of the flu.

Myth: “The flu shot can cause the flu.”

Facts: The flue shot cannot cause the flue. Some people get a little soreness or redness where they get the shot. It goes away in a day or two. Serious problems from the shot are very rare.

Myth: “The flu shoe does not work.”

Facts: Most of the time the flu shot will prevent the flu. In scientific studies, the effectiveness of the flu shot ranged from 70% to 90% when there is a good match between circulating viruses and those in the vaccine. Getting the vaccine is your best protection against the disease.

Myth: “The side effects are worse than the flu.”

Facts: The worst side effect you’re likely to get from a shot is a sore arm. The risk of a severe allergic reaction is less than 1 in 4 million.

For more information regarding the Influenza vaccine, ask your health care provider.

Flu vaccine is already in stock at A Avenue Pharmacy, you will not need to worry about a shortage issue this season.

Chevyland helps raise over $200K in 14th Annual KHAK Radiothon

On Friday, September 9th, and Saturday, September 10th, 98.1 KHAK of Cedar Rapids, Iowa conducted a live broadcast for its 14th Annual Radiothon from the University of Iowa Hospital and Clinics. The proceeds of the event went to help benefit the University of Iowa Children’s Hospital through the Children’s Miracle Network. The Brain and Steele Show shared the stories of patients, families and UI Children’s Hospital staff throughout the broadcast.

“Our staff is dedicated to spreading the word about University of Iowa Children’s Hospital,” said Bob James, KHAK program director. “Our listeners understand how important this hospital is to all of us, and their dedicated support is the key to the success of our efforts.”

Pat McGrath Chevyland was honored to be a part of this year’s event and helped to raise $207,795! In its 14 year history, the KHAK Radiothon has raised $1.8 million for UI Children’s Hospital. Thank you to all who participated!

This is the third time that Pat McGrath Chevyland has been chosen for this highly sought after award.  Only a handful of dealerships across the country are awarded with this prestigious honor each year. Pat McGrath Chevyland is honored and humbled to win it for the third time. We would like to thank all of our customers for choosing Pat McGrath Chevyland for your new and used automotive needs.