Wednesday, July 16, 2008
NASCAR, marketing may get 2nd look
Analyst says GM must consider everything, but some cuts could be risky.
Bryce G. Hoffman and Eric Morath / The Detroit News
The cuts announced by General Motors Corp. Tuesday are not limited to jobs and factories — they also will extend to marketing, event sponsorships and, potentially, even [...]

Wednesday, July 16, 2008
VW spurns Mich. for Tenn. auto plant
Bill Poovey / Associated Press
CHATTANOOGA, Tenn. — Volkswagen picked Chattanooga for its U.S. assembly plant that will employ about 2,000 workers and make a new midsize sedan as part of a plan to triple sales in the U.S. by 2018.
Sites in Alabama and Michigan were also [...]

 
Bankers eye next big GM sale: $4 billion in assets
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Automotive News | July 16, 2008 - 9:38 am EST
 
 
DETROIT (Reuters) — As General Motors struggles to sell cars in a deeply depressed U.S. market, a more important sale is shaping up for its bankers: finding buyers for up to $4 billion in assets.
GM is already [...]

Wednesday, July 16, 2008
GM moves to secure $15 billion cushion
Deep cuts, new financing needed to ensure liquidity, restore confidence in firm’s future

"Our plan is not a plan to survive," General Motors Corp. Chairman Rick Wagoner said Tuesday. "It is a plan to win."
Except that GM, beset by skyrocketing oil prices, slumping consumer confidence and a [...]

 
Q&A: Young says room for more cuts if market declines
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Jamie LaReau
Automotive News | July 15, 2008 - 4:14 pm EST

GM CFO Ray Young

 
General Motors announced a plan today that would save the automaker about $10 billion in cash it would have spent [...]