May 16, 2009 |
The painful reshaping of the American auto industry hit home this week, delivered overnight by FedEx and UPS. Over the last two days, General Motors Corp. and Chrysler moved to cull nearly 2,000 of their dealers, with at least 1,000 more to come. And Chrysler indicated that it was likely to break its contracts with hundreds of parts suppliers, setting the stage for yet another blow to American manufacturing. The sweeping cuts were a reminder that the decades-long decline of the U.S.
May 15, 2009 |
With thousands of Chrysler and General Motors Corp. dealerships closing, customers could be confronted with problems over warranty coverage, trade-ins or other matters. Both automakers pledge to make the contraction as painless as possible, but that doesn't mean there won't be problems. "When all of these relationships are disrupted, you can't help but have some elements of chaos, and some practical problems occur," said Aaron H. Jacoby, a Los Angeles lawyer who represents car dealers.
May 15, 2009 |
Detroit's woes are hitting Main Street with a vengeance. Chrysler moved Thursday to eliminate 789 of its dealers, using its bankruptcy status to break their franchise contracts. And as many as 1,200 General Motors Corp. dealers are expected to receive termination notices as soon as today, with an additional 1,400 coming as GM works to meet a June 1 restructuring deadline.
April 24, 2009 |
Yahoo Inc. said Thursday that it would shut down its GeoCities free Web-hosting service after paying about $3 billion for the unit in 1999. GeoCities isn't accepting new accounts and will close later this year, Yahoo said. GeoCities, Yahoo's second-biggest acquisition behind Broadcast.com Inc., lets users design personal websites to show off photos, promote local clubs or publicize business services.
April 13, 2009 |
Car dealers -- sponsors of Little League, fixtures of Main Street, vibrant symbols of the American entrepreneurial dream -- could now prove to be the biggest threat to the future of the very industry they built. For much of the last century, in exchange for selling Detroit's new models and providing a public face to distant industrial giants, dealers were richly rewarded with a steady, lucrative business and received community respect.
April 4, 2009 |
Going-out-of-business sales start today at 38 Ritz Camera Centers Inc. stores in California, part of the retailer's plan to shut 300 stores nationwide in a last-ditch bid to keep the company afloat. Like many in the retail business, Beltsville, Md.-based Ritz has been slammed by the sharp slowdown in consumer spending. Among the companies that have scaled back or been wiped from the retail landscape recently are Circuit City, Mervyn's, Linens N Things and KB Toys.
March 20, 2009 |
The first passenger-vehicle ferry between major Hawaiian islands says it will lay off more than 200 employees after suspending its service. The Hawaii Superferry is ceasing operations because the state Supreme Court rejected a state law allowing the company to operate while an environmental study was conducted. The Superferry, a car and passenger service that linked Oahu and Maui, has been under fire from critics who argued the use of its 350-foot ship could harm whales and damage the area's fragile ecology.
March 17, 2009 |
The Seattle Post-Intelligencer, whose giant globe has been a fixture on the city's skyline for much of the newspaper's 146-year history, will print its last edition today and become the largest metropolitan daily to switch to an online-only publication. The announcement was delivered Monday morning by Publisher Roger Oglesby to a shattered newsroom that -- in classic P-I style -- wiped back tears, broke out the whiskey and then went back to work.
March 14, 2009 |
In an apparent gambit to head off a legal challenge, the charity that operates a nursing home for entertainment industry workers said it has "no plans" to issue eviction notices to more than 100 residents. On the face of it, the announcement makes it seem as though the Motion Picture & Television Fund, operator of the Woodland Hills facility, is backpedaling from its decision to close the nursing home.