blog.mises.org - 12/10/2008
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It was a dead heat. General Motors sold 9.37 million vehicles worldwide in 2007 and lost $38.7 billion. Toyota sold 9.37 million vehicles in 2007 and made $17.1 billion.
That was the second best sales total in GM's 100-year history and the biggest loss ever for any automaker in the world.
...
online.wsj.com - 12/11/2008
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online.wsj.com —
DON BOUDREAUX The spectacle of corporate magnates from
Detroit pleading to be on Uncle Sam's dole is...
a sordid one. So why aren't more Americans appalled? One reason is widespread misunderstanding -- much of it sowed by these auto makers -- about the ...
(more)
Bankruptcy Doesn't Equal Death
heritage.org - 12/9/2008
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heritage.org —
Some observers argue that the $70/hour figure includes
the cost of benefits paid to current retirees as...
well as wages and benefits paid to current workers and that the actual hourly earnings of current UAW members are much lower. This is a mistaken ...
(more)
UAW Workers Actually Cost the Big Three Automakers $70 ...
bloomberg.com - 12/8/2008
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bloomberg.com —
Dec. 8 (Bloomberg) -- U.S. automakers’ pledges for
more payroll cuts to win federal aid may deepen...
the recession after they eliminated more than 100,000 jobs in the past 3 years. While the loans may spare General Motors Corp. , Ford Motor Co. and ...
(more)
U.S. Automaker Survival Plans May Deepen Recession on ...
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Cerberus Starting to Get Some Attention
QandO —
... is singularly unworthy of taxpayer funds. Chrysler has a bountiful source of funds available to it, so it simply has no need to go begging for our money. GM is unworthy for the following reason [HT: HAHL]: December 10, 2008 Stat of the Day In 2007, Toyota sold 9.37 million vehicles. In 2007, General Motors sold 9.37 million vehicles. In 2007, Toyota made $17.1 billion. In 2007, General Motors lost $38.7 billion. (Source: Mises Blog) That’s right. For the same volume of cars sold, ...
The Thursday Funny and Money Daily Links
MadeMan.com —
5 Interview Questions that means you're not getting hired and one that does
A lesson in cost control
This one the people are getting wrong. If you're company is taking on water and about to sink one of the first thing you lose are your good people. It is a very common occurrence to have to pay your best employees retention money to keep them from bailing. If you don't, why would they stay? Your average person will never understand though
Jerry Yang is weird. Take a look at his farewell letter
The ...
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Administration on GM, Chrysler
calculatedriskblog.com 3/30/2009 — Update2: From MarketWatch: Corrected: Chrysler, Cerberus agree to Fiat deal framework Update: The government is also backing warranties for GM and Chrysler. That is a key step towards bankruptcy. US backs warranties for GM, Chrysler (ht Stephen) The ...
GM Chief Heading for a Crash? —
The Big Money 12/8/2008
First the good news for General Motors CEO Rick Wagoner. After weeks of industry pleading, it looks likely that lawmakers will drive through a short-term $15 billion auto loan , writes the Detroit News . That will save GM and Chrysler from hitting ...
Congress, Will You Drive My Car? —
The Big Money 12/10/2008
Detroit can breathe a little easier today. The long-predicted bailout of the automotive industry now heads to the House of Representatives for a vote, possibly as early as today, The Washington Post and New York Times report this morning, after ...
Face value: Mr Detroit —
The Economist: Full print edition 12/11/2008
The survival of Rick Wagoner of General Motors hangs in the balance, like that of the industry he embodies IN THE end neither Congress nor the outgoing Bush administration had the stomach to allow two of Detroit’s Big Three carmakers to ...
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