Daniel Howes
No easy, cheap fix for GM woes
Losing a numbing $15.5 billion in one quarter, as General Motors Corp. confirmed Friday, is a sure-fire way to restart the wailing.
Kill Buick and Pontiac.
Euthanize Saab.
Sue the directors.
Dump Rick Wagoner, GM chairman through some of the most transformative (and bleak) times in the company’s 100-year history.
Blame the United [...]
Wednesday, August 6, 2008
Wagoner still has GM’s support
Despite huge losses, backing for CEO ‘has not changed,’ says spokesman
Robert Snell and Christine Tierney / The Detroit News
General Motors Corp. said its board continues to support Chairman and CEO Rick Wagoner despite the company’s deteriorating performance in the second quarter, when it lost a staggering $15.5 billion.
The [...]
Toyota cuts 800 contract jobs in Japan
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Craig Trudell
Automotive News | August 5, 2008 - 11:43 am EST
Toyota has laid off 800 contract workers at a plant in southwestern Japan in response to slumping sales in North America, according to media reports today.
The layoffs represent about 10 percent of the plant work force at a [...]
Rights to legendary Packard up for sale
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Automotive News | August 5, 2008 - 2:01 pm EST
PHOENIX (Reuters) — A Canadian couple is seeking to sell the rights to the defunct luxury auto-maker Packard along with a high-end prototype car, with the hopes of resurrecting the legendary brand.
Former Phoenix residents Roy and Barbara Gullickson are looking [...]
