Word: gm
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Dates: during 2000-2009
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...interest rates offered for industrial companies with shabby credit ratings have soared over the summer, making the federal option even more crucial. All three of Detroit's carmakers have had their credit ratings downgraded; GM has had to fight off rumors of an impending bankruptcy; and Cerberus, Chrysler's principal owner, has been hammered by a new round of cutbacks. Ellen Hughes Cromwick, Ford's chief economist, said this week that the unfolding credit crunch has a had a palpable impact on the carmakers. "The credit crunch could persist for some time," she said. "That's a situation that adds...
...automakers say they have a commitment from the Democratic Party's Congressional leadership to take up the enabling legislation when both the House and Senate reconvenes on Sept. 9. "I wouid be loathe to put a timetable to this," says GM's Martin. "But we would like to see it in place by the end of the session. We are attaching a large sense of urgency to it." The Democratic leadership is considering attaching the loan guarantees to either a new economic stimulus package that Congress is expected to take up this month or even to the appropriation bill need...
...future of the civilian Hummer does not look as bright. GM stopped producing the H1 in 2006 and said in June it plans to scale back, sell off or shut down the division. These days, consumers prefer their Jeeps on a diet...
...advantage over its competitors: The company is one of two finalists being considered by General Motors to produce the lithium-ion battery for the Chevy Volt, which is widely expected to be the first commercially available plug-in hybrid in the U.S. when it goes on sale in 2010. (GM says the Volt will be able to travel up to 40 miles in all-electric mode before switching over to its gas or ethanol-powered engine.) But there are at least half a dozen other companies that sell conversion kits for the Prius, Ford Escape and other hybrid models...
...military personnel are dying in foreign wars, McCain dares to raise Paris Hilton and Britney Spears to the level of a national political debate. With the U.S. facing an energy emergency, McCain jokes about tire inflation. When your 85-year-old mother loses her General Motors health benefits because GM can't sell cars, you want health-care solutions, not McCain's juvenile critique of Obama's European trip. Voters must demand solutions from those running for office - not fifth-grade political campaigns with playground sound bites. As a retired U.S. Air Force veteran, I find it disturbing that McCain...