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18 Dec 2009 09:31

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Biz: Saab story: GM plans to shut the Swedish automaker down

  • 3,000 people will likely lose their jobs source
Posted by Ernie Smith • 0 Comments • Permalink

23 Jul 2009 08:59

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Biz: Ford managed to find its way to big profits minus bankruptcy

  • $2.3 billion in 2Q profits for the Detroit automaker source
Posted by Ernie Smith • 0 Comments • Permalink

10 Jul 2009 14:15

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Biz: Among the victims of the GM restructuring: Plants, workers, execs

  • ten plants will be closed by the end of next year, bringing them down to 37
  • 35% of executives will be cut, along with 27,000 other employees source
Posted by Ernie Smith • 0 Comments • Permalink

06 Jul 2009 10:10

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Biz, U.S.: General Motors plows through bankruptcy like an off-road SUV

  • 40 days from bankruptcy to government ownership – a blazing fast speed for this sorta thing
  • 850 objections to the decision were filed – all of which were pushed aside by a bankruptcy judge source
Posted by Ernie Smith • 0 Comments • Permalink

16 Jun 2009 11:07

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Biz: Full speed ahead: GM sells off Saab to European group

saab0616
  • General Motors ditched the Swedish arm the company and handed it off to a group led by sports-car maker Konenigsegg. Sounds vaguely European. source
Posted by Ernie Smith • 0 Comments • Permalink

03 Jun 2009 10:20

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Biz, U.S.: GM’s bankruptcy is not going to help Michigan’s economy one bit

  • 780,000 number of jobs lost in Michigan in the last decade; that’s a LOT
  • 12.9% Michigan’s unemployment rate in April, the highest in the country source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 10:39

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Biz, U.S.: How did General Motors go from pioneering to bankrupt?

General Motors circa 1906
  • There’s a long, winding story of how GM got from hand-crank to Hummer to handouts. For a company this essential to our country – especially the Midwest, but really everywhere – it’s a sad, bastardized legacy. source
Posted by Ernie Smith • 0 Comments • Permalink
 

01 Jun 2009 10:08

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U.S.: When GM entered – and will leave – the Dow Jones index

  • 1925 The year the historic company perched its sturdy, reliable roost on the Dow Jones industrial average
  • June 8 The day the bankrupt company will leave the index, which it must leave because it’s bankrupt source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 08:31

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Biz, U.S.: Big auto news #1: Judge approves Chrysler’s Fiat sale

  • A speedy bankruptcy Chrysler, which has been trying to breeze through its bankruptcy as quickly as possible so it doesn’t lose its value in the meantime, got federal bankruptcy Judge Arthur Gonzalez to approve the sale of most assets to Fiat.
  • A needed merger In case you’re wondering why this sale happened so quickly, it’s because the Obama administration is putting its muscle behind it. They made it the centerpiece of the automotive task force’s recommended reconstruction plan.
  • Sticking pointsNot everyone’s behind this merger – among the scorned lovers include a number of auto dealerships about to lose their franchises, some pension funds in Indiana with a $42.5 million stake, suppliers and ex-employees. source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 20:47

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Biz, U.S.: General Motors may soon be as American as socialist pie

  • 72.5% of GM could be owned by taxpayers. Hooray! source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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