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27 Apr 2009 09:11

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Biz: A lot of people will lose their jobs at GM very soon

  • 23,000 jobs will go away by 2011. Yikes. source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 22:33

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Biz, Politics: Expect GM’s decision to screw over all sorts of industries

  • There could be failures in lots of different industries as a result of this. One lost job at GM can result in up to 10 lost jobs elsewhere.
  • Mark Zandi • Chief economist at Moody’s Economy.com, on the potential mushroom effect this GM taking a break business could have on the freaking economy. We recommend that those 10 lost jobs elsewhere stock up on the Peanut Butter Crunch, because there’s gonna be a run on it because of all the middle aged men watching cartoons on a Tuesday afternoon. • source
Posted by Ernie Smith • 0 Comments • Permalink

22 Apr 2009 22:22

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Biz, U.S.: GM: What’s a good way to clear car inventory? Stop making cars.

  • 15 car plants will shut down for nine weeks later this summer. Wow, that just sucks. o_O source
Posted by Ernie Smith • 0 Comments • Permalink

21 Apr 2009 10:48

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Biz, U.S.: Chrysler, GM get a little help from their friends at the White House

  • $500 million Amount Chrysler will get to see through their merger with Fiat source
Posted by Ernie Smith • 0 Comments • Permalink

07 Apr 2009 08:21

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Biz, Tech: As if the Segway didn’t make people look stupid enough …

… GM and Segway have managed to create a two-person vehicle (the P.U.M.A. mobility pod) that looks even dumber! source
Posted by Ernie Smith • 2 Comments • Permalink

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 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. source
  • 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
 

05 Mar 2009 10:36

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Biz: General Motors sounds like they’re on their last legs

  • The failure to obtain sufficient funding from the U.S. government or governments outside the United States may require us to shrink or terminate operations or seek reorganization for certain subsidiaries outside the United States.
  • General Motors • In a filing to the federal government regarding the health of their company. The company says it may have to go into bankruptcy to stay afloat, which, considering their size, would probably not be healthy for the economy at all. Michigan is screwed. • source
Posted by Ernie Smith • 2 Comments • Permalink

26 Feb 2009 10:08

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Biz: How is it possible to lose this much money, GM?

  • $9.6 billion loss in the 4Q alone; WTF guys? That isn’t cool. source
Posted by Ernie Smith • 0 Comments • Permalink

18 Feb 2009 10:11

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Biz: But what does this mean for Hummer stretch limos?

Hummer is one of three GM brands on the chopping block. Wanna buy it? It’s going cheap. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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