Word: corpe
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Faced with a combination of falling sales, an increasingly unstable U.S. economy and rising gasoline prices, General Motors Corp. has unleashed another huge wave of budget and financial cuts that the company's top executives described as a "self-help" plan designed to stave off any potential "liquidity crisis." The cutbacks appear to involve every level of GM's operations, including shedding the Hummer and decreasing its support for NASCAR. Said GM's chairman and chief executive officer Richard Wagoner: "Conditions are extremely unsettled. We're trying to protect the enterprise long-term. We're going to have to ride...
Toyota Motor Corp. has worked hard to demonstrate how American a car company it can be. The company bought naming rights to the Toyota Arena in Houston (and the connected Toyota Tundra garage), built a truck plant deep in the heart of Texas and even joined NASCAR. Now Toyota is really behaving like its Detroit cousins: it's shedding production because of slow sales...
...Toyota, which is No. 2 in vehicle sales after General Motors Corp., plans to suspend temporarily its production of Tundra pickup trucks and the Sequoia sport utility vehicle, starting August 8. Suburban cowboys are dumping their trucks and SUVs in the face of higher gas prices, and Toyota is not immune. "They're facing the same structural problems as everybody else," said David Cole, chairman of the Center For Automotive Research in Ann Arbor. The names Tundra and Sequoia just scream "more...
...Washington really wants to help Pakistan, its policies must move beyond Musharraf and the military and give the people a higher priority. Seth Jones, a terrorism expert at the Rand Corp., says that Pakistan has become the neglected stepchild, only third or fourth in a list of U.S. strategic interests that start with Iraq and Afghanistan. "Pakistan should be No. 1," says Jones. "The most serious homeland threat to the United States from abroad comes from militant groups operating in Pakistan...
...ballooned into the nation's seventh largest metro, while southwest Florida - Naples, Cape Coral, Fort Myers - became the fastest-growing metro. Last year 82.4 million visitors found their way to this lost paradise. And last month Governor Charlie Crist unveiled a $1.75 billion deal to buy the U.S. Sugar Corp. and its 187,000 acres of farmland, a move that would help restore the Everglades. It's the state's best eco-news in decades...