Word: gm
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Dates: during 1980-1989
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...boost slumping sales, Ford and GM have offered a 2.9% rate for two-year loans, 5.9% for three-year terms and 6.9% on four-year deals on most 1988 and - '89 models. Chrysler offered the same rates on the three- and four-year plans. The automakers have also increased their rebates to as much as $2,000 on slower-selling vehicles. The Big Three are suffering a painful sales slowdown, partly because of rising interest rates. Sales of U.S.-made cars and trucks fell 12.6% in March, compared with the same month...
...battle began as a simple lawsuit filed by one black employee who had been passed over for a promotion at General Motors. But by the time GM agreed to a settlement last week, the complaint had grown into a class-action suit representing some 10,000 workers, mostly clerical and managerial, who will reap millions of dollars in pay adjustments. The accusation: that GM's system for judging worker performance discriminated against blacks. "Evaluators were allowed to indulge their biases, conscious or unconscious," said Dennis James, lawyer for the plaintiffs...
While admitting no guilt, GM has agreed to pay more than $3 million in damages to 3,800 past and present employees, along with $13 million in pay raises for black workers whose salaries are most out of line with those of their white counterparts. The automaker has promised that future raises and promotions for blacks will keep pace with those for whites, a pledge that could cost $20 million to $40 million over the next few years...
Sleep Walker: June 18, 1986. The horseshoe returns to lottery action under new Knick GM Scotty Stirling. The Knicks receive only the fifth pick, costing them the chance to draft Chris Washburn or William Bedford, both now in drug rehabilitation, or Len Bias, who died the next day of a drug overdose. The Knicks choose Kenny "Sky" Walker, a terrible lottery pick, but at least a decent reserve...
...Knick GM Al Bianchi hires Providence Coach Rick Pitino that summer to coach the Knicks. The Knicks finally make the playoffs...