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10 Jul 2009 17:37

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Biz, Tech: GM takes a cue from Beanie Babies, plans to hawk stuff on eBay

OK, we kid, we kid, it is a viable business plan, but it is, pardon our pun, kind of a left turn for the company. 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

10 Jul 2009 09:53

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Biz, U.S.: This car chase is a great metaphor for GM’s bankruptcy emergence

  • Imagine the car Mark Hamill is driving is GM. Imagine the cloud of bankruptcy is the black car. And imagine Annie Potts as the government, yawing its way through the whole emergence from bankruptcy. And keep in mind that this 1978 movie is called “Corvette Summer.” And that this morning, GM finally got rid of the jerk tailing them and got Annie Potts home. source
Posted by Ernie Smith • 3 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

26 Jun 2009 13:13

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Biz, U.S.: Michigan begins its abusive relationship with General Motors anew

  • General Motors decides to make a car in Michigan again. You know the story: State hosts corporation, state becomes dependent on corporation, corporation decides to offsource most of its work, state goes into economic seizure, corporation goes bankrupt. Sounds sweet, doesn’t it? Well, Michigan – 14.5% unemployment and all – plans to go back to its mistress and let them make cars in Michigan again. The Spark, unlike most of GM’s recent hogs, is small and compact – and it’s gonna be made in Michigan. Maybe this could be the start of a brand new relationship where GM screws them over again. source
Posted by Ernie Smith • 3 Comments • Permalink

16 Jun 2009 11:10

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Biz: With the Saab sale, Konenigsegg is about to get much bigger

  • 45 number of employees the luxury sports-car maker currently has
  • 3,400 number of employees the Swedish unit of bankrupt GM has 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

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  • 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
 

12 Jun 2009 16:16

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Sports: Latest byproduct of GM’s bankruptcy: Cuts to NASCAR racing

  • They’re not going away completely, but they are cutting back. One of the most obvious public exponents of General Motors may be its role in the hugely popular NASCAR. GM, largely represented by Chevy, will take a step back, cutting funds from some big stars’ teams (Dale Jr. and Kevin Harvick) and overall doing less. NASCAR’s already been hit hard by the global crisis, with many job losses in the last year. This is just another chink in the Armor-All. source
Posted by Ernie Smith • 0 Comments • Permalink

12 Jun 2009 11:38

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Biz: The dealers are on board for GM’s massive restructuring

  • 95+% of eligible dealers have signed on for GM’s upcoming reconfiguration as a new company
  • 90% of dealers losing contracts with the car company have agreed to their wind-down terms source
Posted by Ernie Smith • 0 Comments • Permalink

10 Jun 2009 18:37

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Biz, Tech: CHARGE! Bankrupt GM spends a ton of money on batteries

GM is so focused on trying to reinvent itself that it built this giant frickin’ $25 million lab to make giant batteries for electric cars source
Posted by Ernie Smith • 0 Comments • Permalink
 
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