Re: GM leaving town

They were crippled by making lousy cars for the last 30 years. They would
have been helped out if they had let Clinton come up with a national health
plan. They got theirs.


"Philip" <1chip-state1@xxxxxxxxxxxxx> wrote in message
news:f1lgf.1647$aA2.387@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
> Thank you Bob. Here's a snip from your article ... the most telling:
>
> "GM has been crippled by high labor, pension, health care and materials
> costs as well as by sagging demand for sport utility vehicles, its
> longtime cash cows, and by bloated plant capacity. Its market share has
> been eroded by competition from Asian automakers led by Toyota Motor
> Corp."
>
> -Philip
>
>
>>"Bob Bitch'n" <Bob@RobertBitch'n.com> wrote in message
>>news:sZkgf.4213$pF.3186@xxxxxxxxxxxxx
>>
>> More info at:
>>
>> http://www.detnews.com/2005/autosinsider/0511/21/0auto-389019.htm
>>
>>
>> Bob
>>
>>
>> "Philip" <1chip-state1@xxxxxxxxxxxxx> wrote in message
>> news:TKkgf.3667$N45.3331@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
>>>
>>> NEW YORK (MarketWatch) -- General Motors (GM) Monday said it now plans
>>> to eliminate 30,000 manufacturing positions from 2005 through 2008 as
>>> part of an effort to reduce its assembly capacity in North America. It
>>> expects the staff reduction to come mostly through attrition and early
>>> retirees. The figure represents an increase of 5,000 jobs from its
>>> previous plan to cut 25,000 positions in the three-year period. The
>>> company expects to reduce capacity by an additional 1 million units by
>>> the end of 2008, bringing its target down to 4.2 million units, a level
>>> that would represent a 30% decrease from 2002 levels. The Dow component
>>> expects to record a "significant" restructuring charge in relation to
>>> this effort. GM lifted its target for structural cost reductions to $6
>>> billion by the end of 2006 from a previously indicated level of $5
>>> billion. It also is targeting an additional $1 billion in net material
>>> cost savings.
>>>
>>
>>
>
>


.

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