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180,000 new vehicles are sitting, derailed by lack of transport trains

If you're planning on buying a new car in the next month or so, you might want to pick from what's on the lot, because there could be a long wait for new vehicles from the factory. Locomotives continue to be in short supply in North America, and that's causing major delays for automakers trying to move assembled cars.
According to The Detroit News, there are about 180,000 new vehicles waiting to be transported by rail in North America at the moment. In a normal year, it would be about 69,000. The complications have been industry-wide. Toyota, General Motors, Honda and Ford all reported experiencing some delays, and Chrysler recently had hundreds of minivans sitting on the Detroit waterfront waiting to be shipped out.
The problem is twofold for automakers. First, the fracking boom in the Bakken oil field in the Plains and Canada is monopolizing many locomotives. Second, the long, harsh winter is still causing major delays in freight train travel. The bad weather forced trains to slow down and carry less weight, which caused a backup of goods to transport. The auto companies resorted to moving some vehicles by truck, which was a less efficient but necessary option.

Detroit automakers mulling helping DIA avoid bankruptcy looting

It's not really a secret that the city of Detroit is in lots and lots of trouble. Even with an emergency manager working to guide it through bankruptcy, a number of the city's institutions remain in very serious danger. One of the most notable is the Detroit Institute of Arts, a 658,000-square-foot behemoth of art that counts works from Van Gogh, Picasso, Gauguin and Rembrandt (not to mention a version of Rodin's iconic "The Thinker," shown above) as part of its permanent collection.
Throughout the bankruptcy, the DIA has been under threat, with art enthusiasts, historians and fans of the museum concerned that its expansive collection - valued between $454 and $867 million by Christie's - could be sold by the city to help square its $18.5-billion debt.
Now, though, Detroit's hometown automakers could be set to step up and help save the renowned museum. According to a report from The Detroit News, the charitable arms of General Motors, Ford and Chrysler could be set to donate $25 million as part of a DIA-initiated campaign, called the "grand bargain." As part of the deal, the DIA would seek $100 million in corporate donations as part of a larger attempt at putting together an $816-million package that would be paid to city pension funds over 20 years. Such a move would protect the city's art collection from being sold off.

DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.