Word: gm
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...development, spending more than $9 billion in 2009, "with emphasis on safety and on the environment." Nevertheless, Toyota faces significant challenges from both Volkswagen AG and a re-emergent General Motors Corp. as it struggles to keep its standing as the world's top automaker. Both Volkswagen and GM are in a better position to cash in on growth in key emerging markets such as Brazil, Russia, India and China, according to a new study by the Boston Consulting Group. (See pictures of American muscle cars in movies...
...writing from a parallel universe, not quite our own. Kennedy's imagined world of stifled corporations and voiceless labor unions bears no resemblance to the America we live in, where the government pumps tens of billions of dollars into an auto-industry bailout skewed in favor of GM, Fiat and the United Auto Workers. At the same time, Stevens' picture of corporate fat cats oppressing the little guy ignores the revolution in campaign finance and communications that is being wrought by the Internet. Viable candidacies can now be launched overnight by the enthusiasm of small donors. Times have never been...
...like to drive away quick [from traffic lights]," says Slym. "They don't like anyone to get in front of them so your transmission has to allow you to move away from the lights quickly, but also has to allow you to drive in traffic in second gear." (See GM's great hopes...
...previous year's crash. Unemployment rose to 10.2%--the highest rate in 26 years--despite the Obama Administration's stimulus efforts, which pumped billions into the economy. Detroit was hit especially hard: Ford saw a steep drop in sales, Chrysler was taken over by Italian firm Fiat, and GM briefly entered bankruptcy. One bright spot was Wall Street, where stocks reversed much of 2008's decline. The economy showed encouraging growth in the third quarter, but with jobs still scarce, the impact of the Great Recession lingers...
...union pensions at GM, Chrysler and Ford appear safe. But starting in January 2010, the union will become partially responsible for the VEBA, which now oversees and funds retiree health care. The resources devoted to the VEBA have been badly depleted by the bankruptcies at GM and Chrysler, creating doubts about how long they can sustain current benefit levels. The danger is that with thousand of union members retiring early in the past three years, the $21 billion in VEBA assets could be drained before the retirees qualify for Medicare...