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19 Nov 2009 10:43

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Biz, Tech: AOL’s looking to get rid of a lot of freaking people

  • 2,500 workers number of people wanted for voluntary buyouts; if they don’t get those buyouts, they turn into layoffs
  • $300 million the amount AOL expects to save with the restructuring; they’re in the midst of a split with Time Warner source
Posted by Ernie Smith • 0 Comments • Permalink

14 Jul 2009 19:49

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Biz, U.S.: Ex-GM CEO Rick Wagoner says “ka-ching!” during a bankruptcy

  • $10 million retirement package, while his old company restructures 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

23 May 2009 11:51

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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

14 Jan 2009 09:31

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Biz: Citi wants to play “good bank, bad bank”

  • The good bank. After years of attempting to be a “financial supermarket,” Citi’s looking to move back to its old ways. On Jan. 22, the corporation plans to shed its current approach and slim up. They will focus primarily on corporate, investment and retail banking. The company recently agreed to merge its Smith Barney brokerage with Morgan Stanley.
  • The bad bank. Nearly one-third of Citi’s assets, or $600 billion, would be separated from the rest of the company, to eventually be sold off. By segregating the bad assets, the company could find itself on stronger ground in the long run, some analysts say. Citi was one of the recipients of some federal bailout money. They got $25 billion in October and another $20 billion in November.
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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