The head of the United Auto Workers union expressed hope that a bipartisan deal to help floundering auto makers can be reached Thursday, despite skepticism among some lawmakers that Senate leaders would agree to a pact.

UAW President Ron Gettelfinger revealed news of the proposed deal during a previously-arranged news conference in Detroit, sending shares of Ford Motor Co. and General Motors Corp. sharply higher.

The office of Sen. Carl Levin, D-Mich., said an agreement had been reached, with lawmakers due to brief reporters at 2:30 p.m. Eastern Thursday. …click here to read more

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Ford Motor Company is set to receive a $10 million grant from the United States Department of Energy to be spent on plug-in hybrid research and development. The government is funding half of Ford’s three-year plug-in development and demonstration program that currently has 20 plug-in hybrid vehicles on test.

According to the automaker, the three-year program is designed to demonstrate plug-in hybrids to consumers, as well as serve as a developmental test-bed for the untested technology. Ford has been working on a fleet of plug-ins with Southern California Edison, the Electric Power Research Institute, Johnson Controls-Saft and Michigan’s DTE Energy.

Ford is currently using the Edge and Escape SUVs as test-beds for plug-in hybrids. More details of the government’s grant are expected to be released tomorrow when an official announcement is made.

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Ford’s has released yet another teaser for the new Mustang and this time its a video! We’ve already seen some of the interior, now this video offers a few more details of how the outside will look. Click play and enjoy! …click here to read more

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Ford Motor Company continues to tease us with the latest image of the 2010 Ford Mustang. This time Ford shows us what is to come on the interior side of things highlighting the seats and center console. The new seats look very plush, with a nice amount of padding and side bolsters. The center console appears to be a little taller than the current Mustang, but we’ll have to wait until the production model is released to be for certain. …click here to read more

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FoMoCo’s Executive Chairman Bill Ford sold 1 million shares of his common stock holdings last week according to the SEC. Bill made $5.05 million on the sale according to a Form 4 filing. He still owns close 5 million shares along with 400,000 more through the company plan, voting trust and family trusts.

Ford spokesman Mark Truby said that the move was a completely personal financial planning decision on Mr. Fords part. Truby said that he sold the shares so he could get rid of debt that he incurred when he bought stock option shares outright in 2005 and 2006.

Last week was a week designated to officers and directors of Ford to buy and sell stock.

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