General Motors – News Stories About General Motors - Page 27

Aug 12, 2008 7:30 PM CDT

America's Fastest-Dying Cities

Ohio and Michigan feel the worst of nation's woes

(Newser) - America’s Rust Belt continues to corrode a little more each day, reports Forbes in its analysis of the nation’s fastest-dying cities. Cities in Ohio and Michigan take 6 of the top 10 spots in the survey, which is based on population flight and unemployment:

Canton, Ohio
Youngstown, Ohio

...

Chrysler Looks to Team With Nissan on Midsized Cars

Aug 7, 2008 7:41 AM CDT

Chrysler Looks to Team With Nissan on Midsized Cars

US automaker plans to expand outsourcing deals as it searches for profitable course

(Newser) - Chrysler is in talks to team up with Nissan to produce midsized cars, the Wall Street Journal reports, following an earlier deal to jointly produce pickup trucks and subcompact cars. The move could represent what the Journal calls a "radical new business model," in which Chrysler becomes a...

Jobs, Earnings Spur Losses

MARKETS

Aug 1, 2008 3:25 PM CDT

Jobs, Earnings Spur Losses

Downbeat session kicks off August

(Newser) - Stocks fell today as investors absorbed a slate of poor earnings reports and glum but not awful economic reports. Crude rose $1.02 a barrel, and shares in every sector other than energy fell, MarketWatch reports. The Dow dropped 51.70 to 11,326.32, the Nasdaq shed 14.59...

GM Loses $15.5B, Stuns Street

Earnings

Aug 1, 2008 8:20 AM CDT

GM Loses $15.5B, Stuns Street

$27.33 per-share loss much worse than analysts predicted

(Newser) - General Motors stunned Wall Street today, reporting a $15.5-billion second-quarter loss—a figure far worse than anything analysts had predicted—as sales collapsed on the company's most profitable products, trucks and SUVs. Prognosticators had estimated the automaker would lose $2.62 per share, excluding items; instead the loss came...

Media Companies Brace as Advertising Slump Worsens

Jul 28, 2008 10:32 AM CDT

Media Companies Brace as Advertising Slump Worsens

A slowing economy has prompted a sharp reduction in spending

(Newser) - A major slump in advertising is moving beyond newspapers and radio and is now starting to hurt TV and the entire media industry, reports the Financial Times. Major advertisers—especially car dealers, airlines, and banks—are cutting back on marketing as the economy slows. And, analysts say, even the windfalls...

Haters, Gas Fail to
Crush Hummer Pride

Jul 27, 2008 11:37 AM CDT

Haters, Gas Fail to Crush Hummer Pride

Soaring fuel may be stunting sales, but owners won't surrender

(Newser) - Sure, the Hummer may be going the way of the dinosaur: Sales are down 40% this year on soaring gas and an eco-image problem, and GM is looking to ditch its troubled brand. But for owners, the AP reports, outsized pride remains part of the package. "It definitely sparks...

On Mixed News, Modest Gains

MARKETS

Jul 25, 2008 3:33 PM CDT

On Mixed News, Modest Gains

Crude falls, durable goods rise, but foreclosures also climb

(Newser) - The Dow and S&P 500 seesawed to minor gains today amid mixed economic reports, MarketWatch reports. The Dow rose 21.41 to 11,370.69, the S&P 500 5.22 to 1,257.76. Bolstered by the relative insulation from the economic slump enjoyed by tech stocks , the...

GM, Utilities Join
to Speed Plug-Ins

Jul 22, 2008 11:49 AM CDT

GM, Utilities Join to Speed Plug-Ins

Three-dozen utilities agree to help integrate electric cars with their grids

(Newser) - General Motors and three dozen electric utilities in nearly 40 states have agreed to work together on the transition to plug-in electric vehicles that are expected to begin rolling out within 2 years, the Wall Street Journal reports. With GM’s Chevy Volt and Saturn Vue expected to hit the...

McCain Flips
on Emissions Standards

Jul 18, 2008 3:37 PM CDT

McCain Flips on Emissions Standards

After favoring a national norm, candidate says states should decide

(Newser) - John McCain seemed to flip-flop on auto-emissions standards today, telling a group of General Motors engineers he supported states’ rights to set their own levels, the Detroit News reports. McCain told the newspaper last month he supported a nationwide standard. Automakers support a national standard because they fear the expense...

GM Developing
Futuristic Windshield

Jul 17, 2008 5:45 PM CDT

GM Developing Futuristic Windshield

Looking forward to an aging driver, tech would compensate for poor eyesight

(Newser) - America’s driving population is aging, and GM aims to do something to help older motorists: develop a high-tech windshield that compensates for declining eyesight, the AP reports. The system, now in the research phase, uses lasers and infrared sensors to identify hazards in the road—or perhaps the edge...

Dow Sinks Below 11K

MARKETS

Jul 15, 2008 3:34 PM CDT

Dow Sinks Below 11K

Fannie, Freddie continue to sink; regional banks hit hard

(Newser) - The markets ended mixed today after a seesaw session. An $8 decline in crude encouraged investors, but concerns about the fate of the mortgage GSEs and regional banks persisted, MarketWatch reports. The Dow ended down 93.39 at 10,961.80, the first time in over 2 years the average...

GM Will Cut Salaried Jobs, Benefits to Survive Slump

Jul 15, 2008 9:42 AM CDT

GM Will Cut Salaried Jobs, Benefits to Survive Slump

Company aims to cut costs to boost liquidity, cope with lower sales

(Newser) - General Motors will cut salaried jobs, accelerate factory closings, and eliminate health care coverage for many salaried retirees in order to raise $15 billion to survive the industry's deep downturn, the Wall Street Journal reports. GM will also suspend dividends, sell some assets, lower capital spending, and cut production of...

GM to Announce New Round
of Major Cuts

Jul 15, 2008 2:37 AM CDT

GM to Announce New Round of Major Cuts

$4 gas threatens workforce, car and truck production

(Newser) - General Motors is expected to announce another big round of cost-cutting measures today, Bloomberg reports. Insiders say the ailing automaker, hit hard as consumers leave gas-guzzlers standing in car lots, is likely to slash thousands of jobs and reduce production of trucks and SUVs for the second time in two...

Rental Biz Sees
Small-Car Shortage

Jul 14, 2008 6:43 AM CDT

Rental Biz Sees Small-Car Shortage

Demand for small cars on rise, as is anger at 'upgrades'

(Newser) - Rental car companies can't meet the soaring demand for more fuel-efficient small cars and are forcing irritated customers to take "upgrades" to gas-guzzlers. Rocketing gas prices are putting pressure on Hertz, Avis, and other companies to sell their luxury cars and SUVs to pay for fuel-efficient models. Bookings for...

Keep the Hummer:
Save America's Soul

OPINION

Jul 12, 2008 2:00 PM CDT

Keep the Hummer: Save America's Soul

Yes, it's obnoxious; that's why we need it

(Newser) - Sure, the Hummer is more of a "cartoon" than a vehicle, a ridiculously over-the-top gas-guzzling monstrosity. But the unbridled optimism it takes to manufacture it—and to fill up the tank—is what makes it uniquely American, writes Matthew DeBord in the Washington Post. If GM axes it, or,...

Pensions, Benefits Have GM Stalled

OPINION

Jul 10, 2008 9:28 AM CDT

Pensions, Benefits Have GM Stalled

Automaker hamstrung by 1950s promises to unions—maybe fatally

(Newser) - General Motors is suffering as oil prices surge and consumer spending wanes, Roger Lowenstein writes in the New York Times. But the biggest, and perhaps fatal, culprit of its recent troubles—with stock prices near a 50-year low—are the generous health care and pension benefits it agreed to lavish...

GM May Cut More
Jobs, Brands

Jul 7, 2008 9:01 AM CDT

GM May Cut More Jobs, Brands

Only Cadillac, Chevy deemed safe as automaker struggles to return to profitability

(Newser) - GM is considering slashing thousands of white collar jobs, while simultaneously selling off or discontinuing even more brands, the Wall Street Journal reports, in a furious attempt to return to profitability. For years GM has resisted shrinking its large stable of brands, even as rivals Ford and Chrysler committed to...

Markets Mixed in Light Trading

MARKETS

Jul 3, 2008 12:42 PM CDT

Markets Mixed in Light Trading

Perked-up GM helps send Dow into holiday weekend on gain

(Newser) - The markets ended mixed today amid flat economic news, MarketWatch reports. With volume light ahead of the holiday, General Motors enjoyed a rebound after a sharp fall yesterday helped push the market into bear territory. The Dow gained 73.03 to close at 11,288.54. The S&P 500...

Dow Enters Bear Market

Jul 2, 2008 3:33 PM CDT

Dow Enters Bear Market

Nasdaq also falls more than 20% from its high

(Newser) - Skidding stocks sent the Dow and Nasdaq into bear territory as oil hit a record near $144 a barrel, the Wall Street Journal reports. Besides oil, bad news from GM and weak jobs data darkened the street’s mood. The Dow fell 166.75 points to 11,215.51, down...

Volt Could Spark GM Bailout

OPINION

Jul 2, 2008 8:32 AM CDT

Volt Could Spark GM Bailout

Electric car may be speedy route to green image—and help

(Newser) - GM is about as likely to turn a profit with the Chevy Volt as the Edsel is to make a comeback, Holman W. Jenkins Jr. writes in the Wall Street Journal. But the ailing automaker may be aiming to improve its image rather than sell cars. With the automaker's image...