How to Reinvent GM on $1 a Year

Detroit – (BP) In a recent pitch to Congress, top executives at GM, Ford and Chrysler said they were willing to take only $1 in salary in 2009 if they ended up tapping into a much hoped-for infusion of federal monies. That idea, along with other job and cost cutting aimed at reinventing the “Big [...]

Auto Industry Appeal

December 3, 2008
Dear Secretary Paulson,
I am writing to you in my capacity as CEO of Joe’s Auto here in Baltimore. Our company may not be as big as Ford or GM, but times are tough for us too, and as part of the American auto industry, we could use your help.
Our operations are relatively small: [...]

In re: General Motors Corp.

Washington – (BP) This week, top executives from the “Big 3″ U.S. automakers are appearing before Congress once again, trying to make a case for a quick injection of billions of dollars in federal aid.
General Motors Corp. (GM) says that without an immediate bailout from  Washington of at least $4 billion, it may not [...]

The Case for GM in Chapter 11

Things are not well at General Motors. Its new sobriquet may well be “General Malaise”. Share prices are at historic lows and corporate leadership suggests rather urgently that if GM does not receive a chunk of a $25 billion proposed government bailout for the auto industry, it will run out of operating capital before [...]