Jul 15th, 08, 06:50 AM
Join Date: Oct 2004
Location: Hudson, MA
What are the chances the new Camaro WON'T be released in the spring??
Do you think GM will hold off on releasing the new Camaro? Or do you think they see it as a bright spot for revitalization?
MSNBC News Services
updated 15 minutes ago 7/15/08
DETROIT - General Motors Corp said on Tuesday it would cut white-collar employment costs by 20 percent, sell up to $4 billion of assets, and borrow at least $2 billion in a bid to bolster its liquidity by $15 billion through 2009.
GM also said it would suspend its common stock dividend in a restructuring driven by high fuel prices, a shift away from trucks and SUVs, and the lowest U.S. industrywide auto sales in a decade.
GM said it expects to generate $10 billion in cash savings from operations through 2009. It said it expects to capture those savings through steps that include cutting white-collar jobs and some retiree health-care coverage, eliminating executive bonuses for 2008, and reducing capital spending by $1.5 billion.
'67 Marina Blue Convertible. L30, PG. All numbers match, 41k original miles.
"The only time you have too much fuel, is when you're on fire"