Word: hummers
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...Should GM go into bankruptcy, the plan would involve forming one company around bad assets, such as Hummer and Saturn, and dumping the retiree health-care liabilities into it. That company could be sold off or wound down. A second company would comprise the better performing Chevrolet, Buick, Cadillac, Pontiac and GMC brands. That ongoing firm could be partly owned by the bondholders, the UAW and other creditors...
...billion in further emergency loans, bringing the total amount that the Detroit automakers have requested to $39 billion. GM says it needs $12 billion more to avoid bankruptcy and announced plans to lay off 47,000 employees and sell or phase out three of its marques--Saturn, Hummer and Saab--and reduce Pontiac to a "highly focused niche brand." Chrysler has asked for $5 billion and plans to cut 3,000 jobs...
...HUMMER...
...HUMMER INTRODUCED...
...parts of the GM restructuring the the company can claim are firm are the closing of some brands including Saturn and Hummer, the shutdown of several factories, and the firing of 47,000 people. (See pictures of autoworkers...