Word: gm
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Dates: during 2000-2009
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...GM: "Employment [has been] reduced 42% from 167,000 to 97,000 ... GM is immediately ceasing all corporate aircraft operations, unfortunately impacting approximately 50 hourly and salaried employees...
...GM: "GM must reluctantly, but necessarily, turn to the U.S. Government for assistance. Absent such assistance, the company will default in the near term, very likely precipitating a total collapse of the domestic industry and its extensive supply chain ... The cost of failure in this instance would be enormous for everyone ... Regionally a failure at GM would devastate Michigan and other Midwest states...
...acutely aware that our domestic competitors are, by their own reporting, at risk of running out of cash in a matter of weeks or months. Our industry is an interdependent one. We have 80 percent overlap in supplier networks. Nearly 25 percent of Ford's top dealers also own GM and Chrysler franchises. That is why the collapse of one or both of our domestic competitors would also threaten Ford...
...auto industry in trouble. You can tell how bad each company is doing just by looking at these hard copy reports. Ford, which seems best-equipped to ride out the economic storm, puts together a forward-looking document full of boxed-off pull quotes. The more dire GM ("Recent significant declines in dealer orders are now adversely affecting first-quarter production schedules and revenue forecasts") packs its statement with charts and graphs and lots of diverting graphics. And Chrysler? It's 14-page document, half the size of the others, looks like a college sophomore's final term paper...
...Read GM's full report...