Word: keeping
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...through another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and supplier price cuts, to prove to Congress that it can operate at break-even. That would give it additional government funds to keep it afloat while it restructures. To reach part of its goal, the company is offering incentives which it believes will get 10,000 union members off its payroll. Bloomberg has reported that it may fire another 5,000 white collar workers...
...give up market share because it cannot replace its old plants and labor infrastructure fast enough to take advantage of a modest but rapid sales recovery. At a 20% market share, GM will only have to produce 2.2 million vehicles in the U.S. this year. If it wants to keep that share when sales get back to where they were the year before the economy dropped into recession, the company will have to build 3.2 million vehicles. GM's annual output capacity would need to be somewhere near 3.5 million, if it is to have any chance of recovering...
...effect, labor and credit costs, along with the costs of the parts needed to keep Detroit running, will rob the U.S. car companies of any chance at all that they can take advantages of a better market when it returns. The auto firms are in the process of completely undermining their future, and may end up destroying themselves in order to remain in business...
...hits keep on coming for Major League Baseball. On Saturday, Sports Illustrated broke the story that perennial all-star Alex Rodriguez of the New York Yankees tested positive for performance-enhancing drugs during the 2003 season. Faced with these allegations, A-Rod quickly took the path of former Yankees Jason Giambi and Andy Pettitte by admitting to his use of steroids. In explaining the doping, Rodriguez cited the pressures of his peers and the new $250 million contract he had inked that year with the Texas Rangers—which at that point was the largest deal in the history...
...always described his wife as his “rock”: the one who insists staunchly that, in the midst of roaring crowds and political logrolling, he remain focused the principles he’s been fighting for. At the same time, she works hard to keep the rock-star-in-chief’s feet on the ground. After the startling loss in New Hampshire during the primaries, she reportedly remarked to the campaign team, “We need to send a message to all our supporters to not take a single thing for granted...