Friday, June 27, 2008
Chrysler welcomes a hero
Iacocca, 83, returns to rally employees and dealers
Eric Morath / The Detroit News
AUBURN HILLS — As Lee Iacocca stepped into the atrium of the Chrysler Technical Center for an employee rally Thursday, applause and whistles showered down from the more than 3,000 workers standing in the balconies above.
While introducing [...]

Friday, June 27, 2008
GM workers face more layoffs
Cuts in production have domino effect
Sharon Terlep / The Detroit News
Casualties of deep production cuts under way at General Motors Corp. will mount this summer, as reductions spread from major assembly plants to stamping and Powertrain factories throughout North America.
A GM stamping plant in Grand Rapids is warning [...]

Automotive News | June 26, 2008 - 9:30 am EST
 
 
 
DETROIT (Reuters) — Goldman Sachs downgraded General Motors to "sell" from "neutral," and added the stock to its "Americas Sell List," saying the main risks for the automaker included likely equity dilution, dividend cut and cash burn.
GM shares, which have lost 47 percent of their [...]