I wish I was making that up.
New York Times has a new story posted.
http://www.nytimes.com/2009/02/17/busin ... to.html?hp
From the article:
So who are these "executives knowledgeable about its contents" and are they right?
EDIT: Apparently Pontiac will live on as a niche line, with a reduced number of vehicles.
New York Times has a new story posted.
http://www.nytimes.com/2009/02/17/busin ... to.html?hp
From the article:
G.M. will file what is expected to be the largest restructuring plan of its 100-year history on Tuesday, a step it must take to justify its use of a $13.4 billion loan package from the federal government.
...
The plan will outline in considerable detail, over as many as 900 pages, how G.M. will further cut its work force, shutter more factories in North America and reduce its lineup of brands to just four, from eight, according to executives knowledgeable about its contents. The remaining core brands will be Chevrolet, Cadillac, GMC and Buick.
...
The plan will also probably include revisions in executive compensation and targets for cutting dealers and brands like Saturn and Pontiac.
...
The plan will outline in considerable detail, over as many as 900 pages, how G.M. will further cut its work force, shutter more factories in North America and reduce its lineup of brands to just four, from eight, according to executives knowledgeable about its contents. The remaining core brands will be Chevrolet, Cadillac, GMC and Buick.
...
The plan will also probably include revisions in executive compensation and targets for cutting dealers and brands like Saturn and Pontiac.
EDIT: Apparently Pontiac will live on as a niche line, with a reduced number of vehicles.
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