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REPORT: GM cutting executive pensions, ex-CEO Wagoner to get pinched the most
With General Motors in bankruptcy, it was only a matter of time before pensions came under scrutiny. The Detroit News is reporting that GM CEO Fritz Henderson has confirmed that executive pensions beyond $100,000 per year will be cut by two-thirds. Recently defenestrated boss Rick Wagoner will likely take the biggest hit of all – he was supposed to receive $22 million over five years as part of his retirement package, but that number will reportedly drop by up to $15 million. The move by GM mirrors closely that of Chrysler, which also ... Read more →
REPORT: If Chrysler liquidates, 38,500 jobs would be lost Michael Harley
A court filing by the legal firm Jones Day estimates that 38,500 Chrysler workers will lose their jobs if the bankrupt automaker fails to quickly form an alliance with Fiat SpA and is forced to ...
NYT: U.S. reportedly preparing Chrysler for bankruptcy... as early as next week Chris Paukert
According to a story from The New York Times, the Treasury Department and Chrysler are readying Chapter 11 bankruptcy documents for filing as early as next week. The report goes on to say that the ...
Big Three discussing joint healthcare fund Jonathon Ramsey
Recently, the UAW decided to look at the unusual step of taking over heathcare liabilities from the Big Three. The reason being that pension fund costs for future retirees is adding a terrific sum to ...
UAW to take on automaker healthcare burden? Jonathon Ramsey
As many of you know (and have commented prolifically on), the Big 3 carry an enormous burden that import competitors like Honda and Toyota don't: unionized retiree health care costs. GM, for example, ...
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Big Three executives meet with Washington lawmakers 3 years ago on Autoblog
The much ballyhooed meeting between domestic auto industry leaders and U.S. lawmakers came and went today, with the net-net being that the Capitol gang has pledged to work with the manufacturers 'as partners.' Rick Wagoner (General Motors Chair and CEO), Tom LaSorda (DaimlerChrysler President ...
Autoblog Podcast #156: Paukert comes back for more!
Chris, Dan, and Editor Paukert chat and give each other grief. Merriment ensues.
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Autoblog bloggers (30 days)
| # | Blogger | Posts | Cmts |
|---|---|---|---|
| 1 | Noah Joseph | 98 | 0 |
| 2 | Jonny Lieberman | 92 | 0 |
| 3 | Chris Shunk | 75 | 3 |
| 4 | Jonathon Ramsey | 72 | 0 |
| 5 | Sam Abuelsamid | 55 | 0 |
| 6 | Jeremy Korzeniewski | 46 | 1 |
| 7 | Damon Lavrinc | 40 | 0 |
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| 10 | Michael Harley | 26 | 12 |
| 11 | Chris Paukert | 19 | 0 |
| 12 | Dan Roth | 18 | 6 |
| 13 | Drew Phillips | 17 | 0 |
| 14 | John Neff | 16 | 0 |
| 15 | Alex Nunez | 10 | 6 |
| 16 | Tim Stevens | 2 | 1 |
| 17 | Domenick Yoney | 2 | 0 |
| 18 | John McElroy | 2 | 0 |
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