Word: careful
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Dates: during 2000-2009
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...market, with 20% of the market, down from more than 40% in the late 1970s and just ahead of Toyota and Ford. In addition, the new labor contracts with the United Auto Workers have helped GM trim costs by $5,000 per vehicle with changes in health care benefits and work rules. The work rules have been whittled down, giving GM's managers more flexibility and control than they've had in two generations. GM could become profitable very quickly if demand for new vehicles recovers, he says. Indeed GM has said in filings with the Federal Government that...
...Europe and Australia. Despite the bankruptcy, GM also owes $17 billion to governments in the U.S., Canada and Europe that supported the company during the crisis last winter. The $17 billion debt does not include $3.2 billion in notes or preferred stock that GM also owes to employees' health care trusts, or VEBAs, in the U.S. and Canada. GM expects to repay the notes to U.S. and Canadian VEBAs with money from the eventual sale of new stock - an IPO that will be successful only if GM returns to sustainable profitability...
...January, joined six other state attorneys general in suing the Bush Administration to block the "conscience clause," which allows health care providers to refuse to take part in medical procedures they object to on moral or religious grounds. (The Obama Administration is expected to lift or revise the Bush policy.) (See TIME's White House photo blog...
...Supports the inclusion of a public care insurance option in the health care overhaul...
...government's ability to pay its $12 trillion debt is tenuous, and Obama has yet to take any clear steps, beyond rhetoric, to reassure investors. His 2010 budget, announced last February, projected medium-term deficits that even Obama's aides agree are unsustainable. And by most accounts, his health care reform package, if it passes, is unlikely to yield the clear long-term savings that Obama once suggested...