General Motors Corp

The United Auto Workers authorized its second strike against General Motors Corp. in less than a month Friday, warning of a walkout at the Lansing body plant. The "five-day letter" was received by the leading auto maker at 10 a.m., notifying the company that the 4,200 members of Local 602 will strike Sept. 25 unless issues are worked out, GM spokeswoman Linda Cook said.

General Motors Corp. lowered its fourth-quarter production forecast for North America by 4% from the year-ago quarter, amid signs of a slowing sales pace. The world's largest auto maker expects to make 677,000 cars, an 11% decrease from a year ago, and 3% more trucks to 713,000. Ford Motor Co., which has recently cut back production of some models, said it plans to review inventory levels of all of its car and truck lines as it heads into 2001.

Rick Wagoner, the youngest chief executive at General Motors Corp. in more than half a century, will add the post of chairman next year, succeeding Jack Smith, who is retiring, the company said Tuesday. Throughout GM's history, the chairman of the company has often also been the CEO. Wagoner, 49, will give up the title of president. The world's biggest automaker did not name a successor.

General Motors Corp. said Monday that it is selling five parts manufacturing plants to American Axle & Manufacturing as part of a strategy to focus on its core components business. Sale of the axle, propeller shaft and forging businesses in Michigan and New York will be effective Feb. 28. Terms of the agreement, signed Monday, were not disclosed. Some 7,300 people are employed at the five plants. "It is anticipated they (AA&M) will retain all of the employees," GM spokeswoman Mary Irby said.

General Motors Corp., the world's largest automaker, said second-quarter profit plunged 30% as lower demand for cars forced it to cut production and raise rebates. Net income declined to $901 million, or $1.58 a share, for the Detroit-based company from $1.29 billion, or $2.43, in the same period last year. Sales were unchanged at $48.3 billion.

General Motors Corp., the world's largest automaker, reported a $425-million third-quarter profit Wednesday as the company earned about 19 times as much from its finance arm as from selling cars and trucks. Net income amounted to 79 cents a share. That contrasts with a net loss of $804 million, or $1.42 a share, a year earlier, when the company wrote down its investment in Fiat's auto unit. Sales rose 5.4% to $45.9 billion.