Word: gm
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Dates: during 2000-2009
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...DiGiovanni said GM's number crunchers estimated new vehicle sales, on per capita basis, had dropped to the lowest level since the recession of 1958. "2008 will go down as unlike any other year in the industry, and thus, comparisons to 2007 sales have become irrelevant," said Jim Press, Chrysler chairman...
...Wagoner's travel plans are still secret but he won't be traveling via corporate aircraft. Wagoner also said he was reducing his salary to one dollar and four other top GM executives agreed to reduce their cash compensation by 50 percent. Both Ford and GM also announced they plan sell their corporate aircraft...
...expected to give up the controversial jobs bank and approve a change in funding the VEBA trust that is supposed to take over paying for health-care of blue-collar retirees in January, 2010. The $7 billion contribution GM owes its VEBA could be postponed indefinitely, according to Sean McAlinden, vice president of the Center For Automotive Research in Ann Arbor...
Some analysts have been heartened by GM's November sales results and believe they offer a glimmer of hope for the future - if the government can help the automaker overcome its current cash crunch with a $12 billion loan...
After all, while GM was down 41.3% for the month, Ford Motor, Toyota and Honda - healthier companies all - also reported U.S. sales drops of 30% or more. (Read "Why the Big Three Should Fly Corporate Jets...