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 [...]
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 [...]
Toyota cuts 800 contract jobs in Japan queryvar=”toyota,cuts,800,contract,jobs,in,japan”; 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 [...]
Rights to legendary Packard up for sale queryvar=”rights,to,legendary,packard,up,for,sale”; 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 [...]
