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Hardships for GM, its employees and the communities it supports is about to begin in earnest :( (http://www.freep.com/article/20081023/BUSINESS01/81023051/1014)

http://www.cleanmpg.com/photos/data/501/gm_hq.JPGKatie Merx – Detroit Free Press – Oct. 23, 2008

GM Headquarters in downtown Detroit.

Please GM, survive another day to provide us with the vehicles we want to own and drive. -- Ed.

GM will begin involuntary layoffs of its salaried and contract workforce beginning late this year and will reduce the benefits available to those who remain, its top executives wrote in a note to its executives.

In a note to U.S.-based GM Executives signed by Chairman and CEO Rick Wagoner and President Fritz Henderson, the automaker said that it has had “good” response to its 2008 salaried retirement incentives, but will have to lay off some salaried workers because of the worsening global economy…

In addition, the company announced that it will:

Suspend its 401(k) match effective Nov. 1.
Cancel bonuses payable in 2009.
Cancel its salaried tuition assistance plans beginning Jan. 1.
Not accept new applicants to the GM adoption assistance program after December 2008.
Reduce the length of time it pays workers under its severance and mutual separation programs.
… http://www.freep.com/article/20081023/BUSINESS01/81023051/1014

Even with the cut backs... I doubt any of the CEOs and such higher Executives will choose to cut their salaries as well... I would not be surprised at all if they actually give themselves raises.

Even with the cut backs... I doubt any of the CEOs and such higher Executives will choose to cut their salaries as well... I would not be surprised at all if they actually give themselves raises.

But keeping the best talent in leadership has been a hallmark of GM!

These are the men who gave us military technology for civilians in the form of Hummer! The 3.3 second 0-60 Corvette! The North American Car of the year CTS! And the CTS V!!!!!

These are innovators and leaders! They have led GM down to road to leading the cutting edge of luxury, performance, and utility!

We NEED talent like this to stay inside the company. Benefits for these outstanding leaders is a top priority!
:flag: :flag: :flag: :flag: :flag: :flag: :flag: :flag: :flag:







hehe ;)

...and some of them left for AIG?

My current job depends on the success of GM to a great extent. I've had to start working on a plan B with a start up company in case my job disappears. I wish GM the best of luck but am very upset with many of the decisions they've made.

Some of their domestic decisions have confussed me for the last 8+ years.

Some Comments from Bob Lutz: In 2003, he described Toyota’s hybrid-electric Prius as a public relations stunt — although he admitted he wished General Motors had a similar model — and declared G.M.’s most important car to be the Chevrolet Corvette.

http://www.nytimes.com/2007/05/19/business/19auto.html

GM currently offers 22 diesel engine variants in 36 vehicle lines around the world. GM sells more than 1 million diesel engines annually, ranging from the 1.3-liter four-cylinder diesel engine sold in the Opel Agila and Corsa, up to the 6.6-liter V-8 Duramax diesel sold in full-size vans, heavy-duty pickups and medium-duty trucks in the US.

http://www.greencarcongress.com/2008/08/gm-investing-44.html

Why don't we have any 1.3-liter cars in the US?

Why don't we have any 1.3-liter cars in the US?

I don't know, but I hear rumors of a new 6.6L HP diesel Corvet that is under a maximum development cycle....should be designed, tested, and ready to sell in the next few weeks ;)

Even with the cut backs... I doubt any of the CEOs and such higher Executives will choose to cut their salaries as well... I would not be surprised at all if they actually give themselves raises.

What they'll do is sayy "Wow! We just laid off another 5,000 workers. How about we divide the unspent payroll as a bonus for us!"