GM preparing cuts in contract workforce queryvar=”gm,preparing,cuts,in,contract,workforce”; Amy Wilson and Robert Sherefkin Automotive News | September 30, 2008 – 12:01 am EST DETROIT — General Motors will begin cutting U.S. contract workers as early as next week. The reduction in GM’s contract staffing is part of a bigger effort to reduce the [...]
Heard lawyer: Dealer is ‘out of money’ Court approves funding for liquidation and other expenses queryvar=”heard,lawyer:,dealer,is,‘out,of,money’”; April Wortham and Chrissie Thompson Automotive News | September 29, 2008 – 12:01 am EST ENLARGE A Bill Heard Enterprises employee locks the gate at the flagship Chevrolet store in Columbus, Ga. Photo credit: SHANNON SZWARC/LEDGER-ENQUIRER A [...]
Tuesday, September 30, 2008 Auto briefs Bush nominates new highway safety chief WASHINGTON — The Bush administration has nominated David Kelly to lead the federal agency that regulates the auto industry. President Bush nominated Kelly on Monday to be the administrator of the National Highway Traffic Safety Administration. Kelly has served as acting administrator since [...]
Tuesday, September 30, 2008 Carmakers wince as bailout fails Worries spread that if credit markets stay tight, fewer buyers will get car loans and sales will dive. David Shepardson / Detroit News Washington Bureau WASHINGTON — Automakers and legislators warned Monday that the auto financing market was in danger of collapsing after a $700 billion [...]
Monday, September 29, 2008 GM stock hits 54-year-low on bailout vote David Shepardson / The Detroit News General Motors Corp. stock plunged to a 54-year-low Wednesday on the House vote to reject a $700 billion Wall Street bailout, while other auto sector stocks also were hammered. GM stock fell 12.8 percent to $8.51, losing $1.25 [...]
