February 3, 2009 |
Honda Motor Co. said Monday that managers' salaries would be slashed 5% starting next month to cope with sliding sales. The cut comes on top of the 10% pay reduction for directors announced last month. The move affects about 4,800 managers at Honda group companies in Japan, but not those hired by Honda's overseas units, the company said. The reduction continues through May, and what happens after that is still undecided, it said. Japan's No.
December 31, 2008 |
It didn't take long for the government bailout of GMAC to filter down to the car lot. General Motors Corp., which has long relied on GMAC to make loans to many of its customers, said Tuesday that it was offering no-interest financing on some vehicles and below-market interest rates for several other models. The deals last through Monday.
December 30, 2008 |
In a move that could free up badly needed financing for car buyers, the federal government said Monday that it would provide $5 billion in assistance to automotive lender GMAC as part of the ongoing effort to prop up the nation's faltering auto industry. The Treasury Department said it also agreed to lend as much as $1 billion to General Motors Corp.
December 13, 2008 |
The anti-bailout camp in Congress now has tried twice to halt the use of tax dollars to rescue the private sector. They're batting 0 for 2. This can only be encouraging for everyone else who's wondering, "Hey Uncle, where's my bailout?" Home builders, for example. Millions more struggling homeowners. The state of California. Maybe the newspaper industry?
CALIFORNIA | LOCAL
December 7, 2008 |
Willie Rodriguez had two choice tickets to the USC-UCLA football game Saturday, but he passed on it to join scores of union workers at a rally to voice support for a government bailout plan to keep the auto industry afloat. About 200 people, many of them union members, marched in front of the federal courthouse in downtown Los Angeles in an effort to keep pressure on congressional leaders to approve an emergency aid package for General Motors Corp., Ford Motor Co. and Chrysler.
December 7, 2008 |
The president of the United Automobile Workers union, Ron Gettelfinger, cut right to the chase when he announced last week that autoworkers were prepared to sacrifice job security, funding for retiree healthcare and other contract provisions to help salvage their fast-sinking industry. "Concessions -- I cringe at that word," he said. "But now, why hide it? That's what we did."