Word: demanding
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Ford: "We have taken painful but necessary downsizing actions to match capacity to real demand, including closing 17 plants over the past five years and downsizing by 12,000 salaried employees and 45,000 hourly employees in North America in the past three years...
...them? So Tim, do us all a favor. Make two long, sober speeches: one explaining systemic risk, and one explaining, conceptually, what you will be up to once you take over at Treasury. The chuckleheads of American pop culture and political journalism be damned; these times - alas - demand seriousness. And you, thank God, are up to that...
...fair, the circumstances are unusual ones," said GM's Chairman Rick Wagoner. "It's been a terrible for the industry. These are pretty bad numbers," he said, adding that the company is stretching its cost-cutting targets in response to collapsing consumer demand. "We hope our case is compelling. We believe it is," Wagoner said...
...good idea, to take $25 billion and give it to the three major car companies, which I think have a business plan that's doomed to fail," Senator Lindsey Graham, a South Carolina Republican, told Fox News Sunday, adding that Republican members are not wild about the Democrats' demand that the Big Three present their plans to Congress. "The idea that you would take three failed car companies, bring [a plan] to 535 members of Congress and let us pass judgment on it doesn't make a lot of sense to me. I don't know...
...plunging consumer demand - new-car sales across Europe dropped 14.5% in October - France's two major automakers, Renault and Peugeot-Citroen, have temporarily shut down production at several plants. Peugeot is expected to present a plan Tuesday to cut 2,700 jobs. In Germany, Chancellor Angela Merkel has been more cautious in response to the crisis, and warned against precipitate state intervention. Still, Berlin is expected to approve up to $1.26 billion in loan guarantees for Opel if parent company GM goes under...