United Auto Workers and GM Reach Tentative Agreement
Would cover 48,500 union workers.
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Would cover 48,500 union workers.
Rick Perry thinks private-sector acquisitions would have absorbed job loss if the government allowed GM to go under.
The company expects to raise between $10 billion and $15 billion.
With the sale of its good assets to a government-controlled group, the auto giant exits Chapter 11.
It's not fashionable to say anything nice about the American car companies, but Hugo Lindgren does not like the alternative.
As opposed to the normal two-week production break, sources at GM say the company may take up to nine weeks off in order to reduce inventory.
The president pushes out the CEO of GM and gives it, and Chrysler, some firm deadlines.
Today's editorial pages are full of opinions on the Detroit mess.
Sure, the markets are tanking, but the Noels are still lunching, and a bank in New York is actually HIRING. And other things to feel hopeful about, in our semi-regular digest of good economic news.
The president's new plan puts responsibility in the lap of President-elect Obama.
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