Word: gm
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Dates: during 2000-2009
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Read about GM's, Ford's and Chrysler's bailout plans...
...debate waged in Washington. Just this week, executives from General Motors Corp., Chrysler LLC and Ford Motor were offering reporters sneak previews of vehicles due out in 2009 and 2010 despite huge uncertainty surrounding their future. "We've got to stay focused on what we do," notes Ed Welburn, GM vice president of design, who says his designers have no choice but to keep the creative energy high. "We know they're in Washington. We can't ignore it," Welburn said...
Susan Docherty, the GM marketing executive responsible for selling the company's Buick, Pontiac and GMC brands, also tried to strike a positive note: "If you look at the brands I'm responsible for, our business was up 10% the first five months of the year," Docherty said. "It's frustrating," notes Docherty, adding the recession is speeding up the shutdown of dealerships. "We've got 6,100 dealers and we're going to go down to 4,500," she says. (See pictures of autoworkers...
...Friday morning, though, GM chairman Rick Wagoner, was already envisioning a brighter future. "In many ways our restructuring plan [with the government] accelerates and expands the transformation that we've been driving in North America for the past several years. It's really a blueprint for a new General Motors - one for our next 100 years," he said...
...problem the incoming Obama administration will face is an uptick in union militancy. Blue-collar workers went into December fearing GM and Chrysler might collapse but left angry that Republican demands for wage concessions came at a time when bankers were using federal bailout money for bonuses. "I don't make $74 per hour," says Bryan Larkin, who is employed at GM's truck plant in Pontiac, Mich...