Word: gm
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...However, the heads of other firms, such as GM, have dismissed the possibility of similar deals. Moreover, the longer negotiations drag out between the union and automakers, the greater the danger of bankruptcy becomes. The answer, it seems, is some form of employee buyout. As Bloom himself has said, worker ownership is an ideal way to bring unions and management into a more constructive relationship. “Companies would come and ask unions to modify agreements in one way or another,” Bloom told The American Prospect’s Tim Fernholz...
...Tilford calls it, would be enormously difficult. Brussels "is worried that this system is not yet fully perfect," says Egenhofer of the Centre for European Policy Studies, "that if you get diffuse sources, such as households and cars, it gets very complex, and potentially expensive." (Read: "The Chevy Volt: GM's Huge Bet on the Electric...
...Roxboro, N.C., makes a 3-in. gadget called a lash adjuster that keeps pressure constant on engine valves, increasing fuel efficiency. Last year Brian Whitfield, a supply-chain analyst at the factory, had plenty of work scheduling orders for raw materials, components and packaging. But with the collapse of GM and Chrysler, business ground to a halt, and when Whitfield arrived at his cubicle on Jan. 20, he found an e-mail from management announcing layoffs. He looked around and saw people leaving, carrying boxes. Then his boss called him into the conference room. "Basically it was, 'Sorry...
...Roxboro Baptist, the Whitfields try to listen to the sermon, but Brian's mind wanders. Last autumn, Debbie warned Brian that the ax might fall. She grew up in Flint, Mich., the granddaughter of a man who participated in the landmark 1936-37 sit-down strike at GM's Fisher body plant that established industrial-labor-organizing rights in America. But she saw her father and uncle go down with the automakers. "When they shut down the Fisher plant [in 1987], everything within a two-to-three-block radius closed down: bars, restaurants, gas stations, banks. Because I lived through...
...bigger picture, though, consider a GM dealership that was run by three brothers and closed down in November 2008, taking with it 26 jobs. One brother, John Boyette, moved out of town in search of work, while another, Norman, is selling used cars for a dealer in Cary, 50 miles away. "We're getting along the best we can now," says Norman. It's axiomatic that if the local dealership can't sell cars, then GM doesn't need as many parts from Eaton, which then doesn't need as many Brian Whitfields...