Word: gm
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...government has gone so far as to say that it will guarantee warranties on GM and Chrysler cars. To quote the President directly "Let me say this as plainly as I can. If you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired just like always. Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty." Unfortunately, many people don't understand what it means for the government to back a warranty...
...After years of poor management or bad luck, GM and Chrysler have reached the point where they are not viable as independent companies. They need U.S. aid whether they remain "solvent" or have to get court protection. Almost every American has seen that news on TV or read about it in the paper. It will be hard to imagine what consumers will think when they find out that a company which was the largest corporation in the U.S. for years is bankrupt. It is like finding out that the telephone company has gone out of business. (Perhaps people actually...
...played well. It made better cars than U.S. companies. It kept labor costs low. It built a reputation for durable and dependable products. The Japanese car company is being hurt by the global car sales downturn, but it never had the labor cost or corporate debt problems that plagued GM. It has the balance sheet to make it through the crisis. Maybe Toyota has been lucky for decades or maybe Toyota was just smart. (Vote for the 2009 TIME 100 Finalists...
...capital or labor. And in a way that happens more frequently in literature than in life, Rattner and Bloom are neatly drawn avatars for the opposing sides of that argument. As such, they make a complementary team to resuscitate the moribund automakers. Out of money and out of options, GM and Chrysler can be saved from complete dissolution only by a government effort to reconcile management, workers and creditors to a much-diminished future. If Rattner and Bloom can find common ground, perhaps those dueling interests...
...Whatever their goals, the two men are well positioned to restructure the auto industry. Rattner can tell management and bondholders what they have to live with. Over the course of the past three months, he has come to believe that the bondholders, who have thus far balked at taking GM stock for much of their debt, made a bad investment and should lose all their money, says one person familiar with the President's auto task force. Rattner also took the point in ousting GM chief Rick Wagoner over the weekend. Bloom, for his part, has taken...