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General Motors' spate of announcements this morning was bad news for enthusiasts (e.g. the shuttering of Pontiac) and even worse for GM's debt-for-equity swap (without a 90% take-rate the automaker is bound for CH 11). But for dealerships and workers, GM's re-revised restructuring plan is going to ...

To ensure long-term viability, General Motors has pledged an arm and a leg (and maybe an eye) to satisfy conditions imposed by the federal government after the automaker received billions in taxpayer-funded loans. In addition to reducing debt and condensing the number and type of vehicles it ...

Management bonuses will be slashed 10 percent at Toyota as a result of the global economic slowdown. About 5,000 managers will take cuts as the Japanese automaker reels from falling global sales that are hitting its local market hard. Toyota vehicle sales in Japan dropped 27 percent in November ...

GM CEO Rick Wagoner announced sweeping organizational challenges designed to cut costs by $15 billion by the end of 2009. The Detroit automaker is looking reduce costs in an increasingly difficult market that could drop to 14 million units per year with fewer SUVs and trucks leaving dealer lots. ...

Chrysler has looked deep into it soul and decided to join the General and FoMoCo in an attempt to reduce its reliance on fleet sales. Chrysler's Vice Chairman, Jim Press (that still doesn't sound right), alluded to the reduction during a conference call regarding December sales figures and said, ...

Mark "the Mullet" Fields dropped some small ordinance during an interview with the Wall Street Journal today, saying that if the slow U.S. economy puts the automaker at risk of not meeting its financial goals for the next two years, it may increase the rate at which it will cut costs.To quote ...

With the sales of the new GMT900 platform SUV's still strong, GM is looking ahead to assure that future inventory doesn't overrun demand as it has in the recent past. The company announced today that it will be reducing production in three plants that produce the GMC Yukon, Cadillac Escalade, and ...

According to the International Herald Tribune, Michigan physicians, hospitals and medical insurers have noted an increase in the number of elective surgery requests since last year. Replacements for knees, hips and shoulders were up by 20 percent at the Henry Ford Health System alone.A little super ...