Word: gm
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Dates: during 1990-1999
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General Motors announced that it earned $1.6 billion in the fourth quarter, bringing annual earnings to $4.9 billion, twice what the company made in 1993. TIME Detroit reporter Joe Szczesny notes that while the earnings are very good news, they are not quite what GM insiders had expected. "GM is now making an average profit of $100 a car in North America, " he says. "Chrysler is making ten times as much. GM still has a long way to go in matching the competition for efficiency...
...some of the company's hottest products. The walkout has idled 30,900 workers. Plants in Pontiac, Lansing, Orion Township, Auburn Hills, and Buick City, Mich., as well as Doraville, Georgia, Janesville, Wisconsin, Ste. Therese, Quebec and Oshawa, Ontario were closed or crippled. The plants assemble cars on which GM is banking heavily, such as the Chevy Lumina and Pontiac Firebird, as well as the popular Chevy Suburban and Blazer sports utility vehicles, says TIME Detroit bureau chief William McWhirter. If the strike continues into next week, the slowdown will spread to Chrysler and Ford -- further putting pressure on GM...
Striking General Motors workers in Flint, Michigan scored a small victory today, as their walkout at an AC Delco plant forced the temporary closing of a nearby truck plant that was running short of components. GM furloughed 3,100 workers at the truck factory. The Delco plant produces spark plugs, filters, cruise controls and other parts for the industry's Big Three. "Today's automobile factory is living off day-to-day, shift-to-shift inventories," says TIME Detroit bureau chief William McWhirter. "One walkout can shut down everyone else." Negotiations between the two sides continued today. The United Auto...
Workers in a General Motors auto parts plant in Flint, Michigan went on strike this morning, after making no progress in a 25-hour negotiating session that lasted all night Tuesday. More than 6,800 union workers took to the picket lines, calling for GM to reduce overtime and hire more permanent employees.TIME Detroit bureau chief Bill McWhirterdescribes the latest walkout as a "virtual replay" of last October's strike at another Flint plant, when GM reluctantly gave in to the strikers' demands for a staff increase. McWhirter says that GM's current hard stance is surprising. "By giving...
...abrupt reversal from its stance just two months back, the Clinton Administration today announced a deal with General Motors that frees the auto maker from recalling five million pickup trucks alleged to be unsafe in some collisions. In return GM agreed to spend about $50 million in safety and research programs. The move is a 180-degree switch by the government: On October 17, Transportation Secretary Federico Pena issued a scathing attack on GM, saying that the trucks -- made between 1973 and 1987 -- present an unreasonable risk of fire in side-impact collisions since their fuel tanks are mounted outside...