Word: quarterly
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Google's new CFO, Patrick Pichette, is leading the company's belt-tightening. A former executive at Bell Canada, his impact was already evident in the firm's third-quarter results, which it announced in October. Although the company's revenue was slightly lower than analyst estimates, earnings were higher due to cost-cutting measures spearheaded by Pichette, such as decreasing the number of new hires. "Google has certainly gotten religion on expenses, and that is due largely to the new CFO," says Sanford Bernstein's Lindsay...
...Detroit Three, in fact, may have to shrink to two. Chrysler, which burned through $3 billion in cash in its last quarter and has $6.1 billion left, is looking for more partners like Nissan, which is already contracted to build a small car for the company. Chrysler's owner - Cerberus Capital Management, a New York City private-equity firm - got a lemon when it bought 80% of the company from Daimler for $7.2 billion last year. A merger could...
...lately, the wait for the café's signature Packer breakfast sandwich, which is two eggs and sausage covered in gravy on a biscuit, has been shorter than usual. On a recent Tuesday morning at 7 a.m., the restaurant was only a quarter full. "One of the drilling crews just got laid off," says waitress Theresa Steffen. "It's slowed down a little...
...While there are plenty of wasteful defense projects to consider excising as a part of this plan, Obama would be wise to focus on one that has plagued U.S. policymakers and taxpayers both for a quarter century: ballistic missile defense...
...help they need, though that may not satisfy critics who claim the companies need entirely new management. More significantly, GM has pledged to consolidate its sprawling number of brands (focusing on Chevrolet, Cadillac, Buick and GMC), cut more than 20% of its remaining jobs, shutter almost a quarter of its factories and try to reduce crippling labor costs by reopening negotiations with the United Auto Workers. Ford, in its plan, stated that it would roll out all-electric models within two years...