Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

27 May 2009 22:18

tags

Biz: If you work for GM and got paid early, that was no accident

  • Let’s pretend everything’s OK, guys! General Motors is trying to calm rattling nerves of workers by assuring them they’ll still get paid in a bankruptcy. So they decided to pay their employees early this week. “This was purely psychological,” said GM spokesman Tom Wilkinson. “Everybody is just very anxious.” We’re sure this will make up for the forthcoming factory shutdowns. source
Posted by Ernie Smith • 6 Comments • Permalink

27 May 2009 11:02

tags

Biz, U.S.: The near-bankrupt General Motors is generally screwed

  • They failed to convince bondholders to convert their claims to stock. General Motors is a huge company and it’s the kind of company that should just not fail, ever, but unfortunately they may be past the point of no return. The corporation needed to convince 90% of bondholders that their valuable GM bonds could convert to valuable GM stock. Now, running low on options, they will probably run into the June 1 deadline head-first, like a car crashing into a building on purpose. Don’t you love this country? source
Posted by Ernie Smith • 0 Comments • Permalink

23 May 2009 19:10

tags

Biz, U.S.: GM keeps needing money and the U.S. Treasury keeps giving it

  • $4 billion more in another bandage prior to bankruptcy source
Posted by Ernie Smith • 0 Comments • Permalink

23 May 2009 11:51

tags

Biz, U.S.: Obama thinks GM will come back strong after reorganization

  • Ultimately, I think that GM is going to be a strong company and we are going to be pulling out as soon as the economy recovers and they’ve completed their restructuring.
  • President Barack Obama • Who did not refer to the likely bankruptcy the company faced to complete that restructuring in his comments on the automaker. *Sigh* he wouldn’t care so much if the company hadn’t been so essential to the last 100 years of our country’s growth. • source
Posted by Ernie Smith • 0 Comments • Permalink

22 May 2009 19:10

tags

Biz: General Motors is between a rock and a bankrupt place

  • $27 billion Amount of debt the company, heading towards bankruptcy, owes its bondholders source
Posted by Ernie Smith • 0 Comments • Permalink

15 May 2009 20:47

tags

Biz, Politics: So, what’s next for GM’s laid-off dealers?

  • Good question. Maybe I’ll become a newspaper guy. I’ve been very fortunate. My kids are grown, college is done, weddings are done. I worry about my employees, though.
  • Chevy dealership owner Frank Videon • Who found out today that, after 53 years in the auto industry, GM was pulling the plug on his dealership. Regarding the newspaper thing: Haha, nice answer … jerk. (But we admit, we deserve it.) • source
Posted by Ernie Smith • 0 Comments • Permalink

15 May 2009 12:57

tags

Biz: GM begins its long, crazy trip to screwing over its dealers

  • 1,100 dealers learned today that GM’s not working with them anymore source
Posted by Ernie Smith • 4 Comments • Permalink
 

14 May 2009 21:20

tags

Biz: Thought the Chrysler dealer cuts were bad? Check out GM’s.

  • 2,500 dealers will get no deals anymore; that’s 42% source
Posted by Ernie Smith • 0 Comments • Permalink

07 May 2009 08:32

tags

Biz, U.S.: GM lost a cartoon-eye-poppin’ amount of money in Q1

  • $6 billion in losses for the broken dreams manufacturer source
Posted by Ernie Smith • 0 Comments • Permalink

27 Apr 2009 11:02

tags

Biz, Politics: Peace out, Pontiac: You will be missed, old friend

  • It wasn’t only the muscle cars, the GTO or the ’67 Firebird or the beastly Trans-Am, that made Pontiac something special.
  • “The Swamp” blogger Mark Silva • Reminiscing about the death of the Pontiac brand, which was announced today along with all those job cuts by GM. The Pontiac brand slowly but surely evolved away from those muscle cars that defined it early on, but they still define the brand to many. • source
Posted by Ernie Smith • 2 Comments • Permalink
 
<< newer 
top tags
older >>