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30 Mar 2009 21:29

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Biz, U.S.: Now that Rick Wagoner’s resigning, he’s retiring like a bandit

  • $20 million size of the bailout, a.k.a. retirement, that Rick Wagoner’s getting
  • $1 a year amount Wagoner was making before Obama kicked the bum out source
Posted by Ernie Smith • 0 Comments • Permalink

30 Mar 2009 10:43

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Biz, U.S.: Stocks are down! Time for a photo of a fretting investor!

As you might imagine, they really didn’t like the GM/Chrysler auto bailout news. So, now they’re fretting. source
Posted by Ernie Smith • 0 Comments • Permalink

29 Mar 2009 20:29

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Biz, U.S.: GM’s head guy, Rick Wagoner, is apparently gonna step down.

  • Why now? GM wants help General Motors’ top man is leaving now in part because the White House made strong hints that they wanted new leadership if the automaker wanted more bailout money. Wagoner has been with the company for over three decades and has been CEO for almost a decade. There’s no word yet as to who the new CEO’s going to be, but we’ll probably learn more later this week.
  • A cruddy legacy Wagoner has led GM through some of the more questionable periods of the company’s history – between the fumbled response to Japanese carmakers, the legacy payments to union employees, the over-leaning on SUV’s to save the company’s fortunes and the utter lack of creativity in the company’s vehicles, it’s kind of tough to say what was the one thing that made GM fall so far. source
Posted by Ernie Smith • 0 Comments • Permalink

10 Feb 2009 09:57

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Biz: GM is planning deep, deep layoffs

  • 10,000 salaried employees will get cut by General Motors. That’s 14% of its salaried work force.
  • 3,400 laid-off GM workers will be from the U.S. That’s 12% of the automaker’s domestic salaried work force. source
Posted by Ernie Smith • 0 Comments • Permalink

09 Feb 2009 11:04

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Biz: U.S. automakers aren’t alone: Nissan announces massive layoffs

  • 20,000 jobs will go away into the ether source
Posted by Ernie Smith • 0 Comments • Permalink

21 Jan 2009 11:10

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Biz: How long was GM on top of the auto sales heap?

  • 77 years. That’s a really long time. source
Posted by Ernie Smith • 0 Comments • Permalink

21 Jan 2009 11:06

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Biz: GM “cautiously optimistic” even after losing sales crown

  • We feel we’ve weathered one hell of a storm, and we’re cautiously optimistic as we move into ’09 that we can stabilize and grow again.
  • Mike DiGiovanni • General Motors sales analyst, on sales prospects for 2009. GM recently lost the title of top automaker to Toyota, although, considering the economy and bailout-tinged circumstances, neither are all that excited about that. • source
Posted by Ernie Smith • 0 Comments • Permalink
 

20 Jan 2009 08:21

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Biz: Chrysler gets an infusion of foreign blood

  • 35% Fiat’s newly agreed-upon stake in Chrysler source
Posted by Ernie Smith • 0 Comments • Permalink
 
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