Word: gm
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...White House chief of staff Josh Bolten and Vice President Dick Cheney. The GOP leaders emerged from the lunch only to acknowledge that they were far from having the necessary votes. Not only are many strongly opposed to a plan they believe will only postpone the inevitable bankruptcy of GM and Chrysler, they feel that the President has a much easier alternative that would provide them political cover; allow the money instead to be taken from the Wall Street bailout funds without a vote, as Democrats had previously pushed for but the Administration has steadfastly resisted...
...Detroit With an entire region depending on the automobile industry, it is almost impossible for politicians to vote against another financial bailout [Nov. 24]. There is just too much at stake. Yet this is a crucial moment for car manufacturing, and governments have to ensure that auto giants like GM are aware they have to radically change their ways. Carmakers must be obliged to commit to developing greener technology, while U.S. carmakers in general have to finally realize that the big cars they have been building for decades are no longer what people want. Sebastian Sommer, GREUSSENHEIM, GERMANY...
...Chrysler, General Motors or Ford - were to file for Chapter 11, it would have a potentially crippling cascade effect on the economy. The automakers and their suppliers employ more than 2.5 million American workers - nearly one in 10 U.S. jobs. The $15 billion is intended to see Chrysler and GM in particular - Ford is in better financial shape and is not asking for any short-term help - through the first quarter next year and to give the incoming Obama Administration time to work out a more long-term solution...
...Meanwhile, the UAW has allowed new employees to be hired at lower wages. Under the 2007 contracts it signed with GM, Ford and Chrysler, new blue collar workers start at $14 per hour, rather than the $28 per hour paid senior employees. New workers also get a 401(k), instead of a defined-benefit pension plan, and a restricted menu of health-care plans...
...contracts the union signed and ratified with GM, Ford Motor Co. and Chrysler last year, over significant internal opposition, also represent a 5% cut in real wages because money from the automatic cost-of-living escalator that has been a feature of UAW contracts for more than half a century was diverted to cover health-care expenses, says Amy Bronson, who recently retired from Chrysler LLC and is now working on a Ph.D. at Wayne State University in Detroit. Union members also paid more for health care and gave ground on work rules, which critics claim drive up operating costs...