Whether you are a GM employee or in the supply chain, if GM fails we will all pay. Backseat Driver Let’s Bail Out GM Jerry Flint 10.22.08, 6:00 PM ET Forbes Magazine dated November 10, 2008 Let’s stop kidding ourselves. If General Motors is going to survive in the U.S., it will need government-guaranteed loans. [...]
Friday, October 24, 2008 More buyouts will not help automakers shed more workers, Gettelfinger says Louis Aguilar / The Detroit News DETROIT — United Auto Workers President Ron Gettelfinger said he didn’t think another round of buyouts would help automakers shed more of their hourly work force but he deflected a question on whether the [...]
Friday, October 24, 2008 GM reverses plan to idle Flint assembly plant, extends shutdown in Delaware Robert Snell / The Detroit News General Motors Corp. has reversed plans to temporarily idle its Flint assembly plant for two weeks in December but has extended a shutdown at a plant in Wilmington, Del., citing slumping market demand. [...]
Friday, October 24, 2008 Rep. Miller wants immediate action on auto loans in wake of Chrysler job cuts David Shepardson / Detroit News Washington Bureau WASHINGTON — Rep. Candice Miller urged the Energy Department Friday to immediately make available $25 billion in low-cost direct government loans to automakers in the wake of news that Chrysler [...]
Friday, October 24, 2008 Cuts signal deepening woes at GM Mounting problems fueling possible deal with Chrysler, analysts say. Robert Snell, Christine Tierney and Alisa Priddle / The Detroit News General Motors Corp.’s move to force out white-collar employees for the first time in about 20 years and cut benefits underscores the deepening problems facing [...]
Forecast: October U.S. auto sales may plunge 29% queryvar=”forecast:,october,us,auto,sales,may,plunge,29%”; Lindsay Chappell Automotive News | October 23, 2008 – 4:36 pm EST General Motors, Ford Motor Co. and Chrysler LLC may drag U.S. auto sales for October to their lowest levels since 1992, a forecasting firm said. Overall industry volume will plunge 29 [...]
UAW head calls for more U.S. assistance queryvar=”uaw,head,calls,for,more,us,assistance”; Jesse Snyder Automotive News | October 24, 2008 – 12:21 pm EST UAW President Ron Gettelfinger DETROIT — UAW President Ron Gettelfinger today called for additional federal assistance to help the beleaguered U.S. auto industry. But he opposes changing the terms of the UAW’sdeal to [...]
Chrysler to cut 25% of salaried workers, 4,300 jobs Layoffs, early retirements and buyouts will begin in November queryvar=”chrysler,to,cut,25%,of,salaried,workers,4,300,jobs”; Chrissie Thompson and Philip Nussel Automotive News | October 24, 2008 – 11:07 am EST Chrysler LLC plans to cut its salaried workforce by 25 percent starting next month, the company said today. A [...]
GM-CHRYSLER MERGER TALKS Automotive News | October 24, 2008 – 11:15 am EST DETROIT (Reuters) — General Motors has intensified talks to buy Chrysler LLC’s auto operations from Cerberus Capital Management in a deal that would also involve a transfer of ownership of GMAC, people familiar with the talks said today. GM is concerned [...]
