Word: gm
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Dates: during 2000-2009
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...question is whether any U.S. automobile manufacturer will live long enough to enjoy it. President Barack Obama would rather bridge General Motors to the future than see it collapse, but he has now made it clear that the GM we know and don't really love is finished. So is GM CEO Rick Wagoner, who was told to hit the road, his three decades of service to GM - and strong support within the industry - now considered a liability. "This is not meant as a condemnation of Mr. Wagoner, who has devoted his life to this company," Obama said in condemning...
...much, and taking a car to an unauthorized repair center can effectively negate the warranty. "None of this is clear," said one dealer, referring to the many nuances of warranty work that are yet to be defined in the government's plan. He also noted that if GM is forced into bankruptcy, dozens of dealerships could close and consumers would be left guessing as to where to take their vehicles...
Indeed, if bankruptcy occurs, many existing GM and Chrysler owners still under warranty face an as-yet-undefined level of support. So if you're sitting in your 2008 Chevy Tahoe and wondering where all this talk of bankruptcy and government-backed warranties leaves you, the answer is, nobody's quite sure. And that may not be the best place to leave a loyal GM customer who bought when few would...
...graduated from the Business School in 1977, stepped down on Monday at the request of the Obama administration, which has sought to force more rapid changes within the three beleaguered American automobile manufacturers that have received assistance from the administration’s multi-billion dollar bailout fund. GM lost $30.9 billion last year, and its share price has fallen to as low as $1.27 from a high of $35 three years ago. The company has been criticized for failing to anticipate plummeting demand for gas-guzzling SUVs and neglecting to explore energy-efficient technology, causing it to cede...
...GM and Chrysler Ordered Out of NASCAR Caranddriver.com "In a move sure to spark outrage, the White House announced today that GM and Chrysler must cease participation in NASCAR at the end of the 2009 season if they hope to receive any additional financial aid from the government. Companies around the globe - Honda and Audi, to name two - have drawn down racing operations, and NASCAR itself has already felt the pinch in the form of reduced team spending. A complete withdrawal from America's premier racing series is expected to save more than $250 million between GM and Chrysler...