Word: gm
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Dates: during 2000-2009
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...survey of executives for industry suppliers said their companies would have to downsize if General Motors declared bankruptcy, while 12% said their businesses would likely close or would definitely do so. In the Midwest alone, some 275,000 jobs would be lost as a result of a GM bankruptcy. "If they go into bankruptcy, it's going to have a catastrophic effect on businesses across the board," says John W. Henke Jr., president of PPI, based in Birmingham, Mich. (See the Top 10 Bailout Measures...
Amid the economic downturn, Americans are buying fewer new cars and light- trucks, or even used cars. In recent weeks, GM announced a third- quarter loss of $2.5 billion. And the major automakers have stirred a vigorous debate over how much, if at all, the federal government should be involved in rescuing yet another ailing industry...
...Detroit Failure for general motors would be a national disaster, as Bill Saporito points out [Nov. 24]. What should GM do in the meantime? Get out and sell its vehicles. I have rented GM compact cars for the past 20 years and find them to be of excellent quality. GM salespeople need to get out of their cushy showrooms and offer to take people out for a demo ride and lunch at the deli. The company could win by a landslide. Perry Munson, Grosse Pointe, Michigan...
...assume GM must be saved in its present form? Why not merge it with another automaker? Toyota comes to mind. The two companies already jointly operate the NUMMI (New United Motor Manufacturing, Inc) facility in California, where both GM and Toyota autos are produced. Why not take that joint venture further? Stephen V. Gilmore, Charlotte, North Carolina...
...GM worth saving? Yes! With gas prices stabilizing, now is the time for the auto industry to shape up, and the government to help them. Otherwise, we all sink. C. R. Prabakaran, Sterling Heights, Michigan...