Word: gm
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Dates: during 2000-2009
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Toyota's (TM) share of the U.S. light vehicle market is 18% and Honda's (HMC) is 10%. GM's (GM) share of its home market is about 22%. Fifty-five years ago, the No.1 U.S. car company had 54% of the U.S. market. By this time next year, GM's piece of the American car pie could drop another 50%, bringing it closer to Honda...
...stock market has been pointing to an improved economic picture. There has to be a lot of optimism built into a 20% stock market rise that takes less than half a month. But, news that GM (GM) or Chrysler might go bankrupt and that large American banks may need more government money pushed stocks down again. In a very short period of time, investors have begun to doubt whether there is a good chance that the recession will lose steam before the end of this year. The month which began with optimism is not closing out that way. (See pictures...
...have been slightly better than expected, but less awful is still awful. Several large U.S. companies, lead by utilities giant American Electric Power (AEP), said that the year would be worse than expected. It probably is a sign of severe trouble when the electric company is cutting costs. Whether GM goes into bankruptcy or not, it is still shrinking its workforce. Last week 7,600 salaried workers took buyouts. Chrysler has employee buyout offers pending. Several large auto parts suppliers are still cutting people. In other words, industries which were in trouble six months ago are in as much...
...seems improbable that GM could lose that many customers so fast. But, Rick Wagoner, recently departed CEO of the company told Congress last December that consumers won't buy vehicles from a bankrupt company. Some of the people at the hearings figured Wagoner was bluffing, trying to convince Washington that a Chapter 11 filing would bring an end to the firm's ability to market its products because customers could turn to cars made by competitors which were in reasonably good financial shape. But, most research done recently indicates that Wagoner was probably right, at least right enough that GM...
...vehicle they wanted came from an automaker that went bankrupt. A third survey, this one from Rasmussen, showed that 51% of consumer said they would not buy a car from a manufacturer in Chapter 11. While the poll results are not the same, they point to a similar conclusion. GM and Chrysler will lose a tremendous amount of business if they are operating in bankruptcy...