Word: gm
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Dates: during 2000-2009
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...acquiring existing, well-known brands. There is no reason that a Chinese car firm cannot use government money to bid for Chrysler's assets if it is forced into bankruptcy. In France, Citroen and Peugeot are facing financial problems that could get much worse if car sales remain anemic. GM's (GM) Opel unit in Europe needs immediate capital and may be sold at a loss for the No.1 U.S. car company. The Chinese could pick up brands, manufacturing assets, product-development personnel and dealer networks on both sides of the Atlantic...
...free-market system forced on Africa by the Western-controlled World Bank and IMF (that have devastated many African countries) are now being reversed in the U.S. Whereas poor, suffering Americans need to be protected from the full consequences of their free-market principles (which should allow AIG, GM and the rest of them to fail), Africans were afforded no such protection - presumably because they don't vote in U.S. elections. Alex Potter, CLAREMONT, SOUTH AFRICA...
...According to the Wall Street Journal, Rattner was the Administration official who told GM CEO Rick Wagoner that he would have to step down, then informing Wagoner's replacement, Frederick "Fritz" Henderson, that GM's top job was now his. (See the 50 Worst Cars of All Time...
...auto industry woes are being felt here too. Over the last two decades, Mississippi, South Carolina and Tennessee lured automakers with relatively inexpensive land and lax labor laws. Now, Tennessee is fighting the possible closure of a GM plant in Spring Hill, and Toyota has already postponed the start of production of the Prius at a new plant in Mississippi...
...foot dragging on Chrysler is affecting GM, too. In a Friday conference call with the media, GM chairman Fritz Henderson lamented that GM's own union negotiations are being slowed because the UAW won't move forward until the Chrysler/Fiat negotiations are resolved. That makes sense: Whatever terms Chrysler gets will be a precedent for GM, too. GM faces a June 1 deadline from the U.S. government to produce sufficient cuts to ensure viability...