Articles tagged with: GM
The United States of Unemployment
One of the few things that both Democrats and Republicans can agree upon is that the current number of unemployed workers in this country is painfully high. Although the official “unemployment rate” is hovering around 10%, the actual unemployment rate is probably closer to 20%. The reason for this wide disparity is that the official rate only takes into consideration those …
GM: The $60.0 Billion Gamble
Today it came as no surprise to bondholders, shareholders and suppliers that General Motors was declaring Chapter 11 bankruptcy. At one time, not so long ago, General Motors was the largest auto maker in the world, and considered as the epitome of American technological know-how and industrial might. Somewhere along the way, however, GM lost its focus on building …
GM Must Regain Market Share to Stay Viable
To no-one’s surprise, General Motors revealed last Thursday that they had recorded a mind-numbing loss of $30.9 billion for 2008. The largest of the U.S. auto makers also announced that the cutting of 50,000 jobs, the closing of eleven factories and the injection of $13.4 billion in government money have failed to stem the tide of red ink. Largely due to GM’s overly bloated size relative …
Continuing Troubles in Detroit
It was not so long ago (i.e. December 2008) when the Big Three U.S. auto makers appeared before Congress with their tails between their legs, pleading for enough working capital to stave off bankruptcy before year-end. At that time Congress reluctantly doled out $9.4 billion to GM and $4.0 billion to Chrysler. Congress also promised GM an additional $4.0 billion …
Big Three Automakers – The Taxpayers Next Bane
Despite the pervasive pessimism on Wall Street about the U.S. economy, and regardless of a nearly 300 point loss in the Dow Industrial Average, General Motors shares rose by almost 8% in today’s trading. The rise in the value of GM shares has everything to do with investor’s confidence that the Federal Government will pump billions of dollars into the ailing …
