Word: detroit
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...Chrysler have stopped revealing details of their related costs. However, GM vice chairman Robert Lutz recently noted that GM has spent more than $103 billion on health care in the past 15 years - one big reason the company is in its current predicament. (See TIME's photo-essay "Detroit's Beautiful, Horrible Decline...
...This wouldn't even be an issue at a nonunion company, because retirees wouldn't have health care," says Van Conway, a Detroit-based corporate turnaround specialist...
...best cars from the 2009 Detroit Auto Show...
...Although just half of GM's European businesses are located in Germany, Berlin has effectively grabbed control of efforts to save GM's Opel and Vauxhall operations, which GM's board in Detroit this week centralized under Opel's control. But Belgium and the U.K. are no longer willing to just follow Berlin's lead. Politicians and union leaders there fear that Chancellor Angela Merkel, facing re-election in September, is preparing a deal that would save GM jobs in Germany at the expense of plants in their countries. (See 10 milestones on the road to GM's bankruptcy...
...plan to impose itself as a kind of administrator over Opel's management. After the meeting, the Germans blamed the Americans for the lack of progress. "Once again we were confronted with surprises, especially from GM," said Germany's Economics Minister, Karl-Theodor zu Guttenberg. (See pictures of Detroit's decline...