Word: gm
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Dates: during 1990-1999
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...billed as a kind of corporate nirvana where a folksy labor force and enlightened managers would happily work to produce some of the best darn American cars on the road. The plant represented a unified front against growing Japanese imports and offered the broader prospect of peace between GM and the United Auto Workers...
...last week the seething revolt that started at two GM parts plants in old-fashioned Flint, Mich., spread to this Southern paradise. The Flint strike shut off critical parts to the company, forcing the closure of 26 assembly plants and 100 component factories across North America and idling 186,000 workers. The strike is weighing on the economy too, contributing to a 0.6% drop in industrial output in June. The Saturn factory is the only GM plant in the U.S. still turning out cars. Leaders at Saturn's Local 1853, angry over a management decision to cut negotiated bonuses from...
Settling the strike--an arbitration hearing is scheduled for Wednesday over GM's claim that the walkouts in Flint are illegal--is to some extent the least of the company's problems. GM faces enormous challenges with its products, its market strategy, its international business and even its leadership. Many of GM's critics believe that the world's largest automaker needs another total makeover. That means dumping factories, jobs--even executives--not to mention junking some of the nameplates no longer needed in GM's shrinking empire...
...last time GM reorganized, in 1992, following a directors' revolt, chairman John F. (Jack) Smith Jr. was handed the wheel. Now the company that Smith heads is reeling. Profits fell 81% in the second quarter, to $389 million from $2.1 billion. Results would have been weak even without the strike...
...Saturn conflict is a case study in GM's mounting woes. Perhaps the company's most notable success in the 1990s, the mid-priced, compact Saturns were sold with a revolutionary no-pressure style of salesmanship. Saturn has won high praise for winning consumers away from the likes of popular Toyota and Honda. Trouble is, corporate infighting over resources has prevented GM from upgrading Saturn's basic design or adding a new model since the station wagon was introduced in 1992. Worse yet, other GM divisions pump out small cars to compete with Saturn...