Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

GM’s Wagoner Weathering the Storm

Despite $39B loss, he's earned respect, making progress

By Jim O'Neill, Newser User

Posted Nov 8, 2007 9:31 AM CST

(Newser) – CEO heads are rolling on Wall Street as third quarter red ink stains their reps and boards act to soothe shareholder worries with new management, cost cutting, and reorganization. But it's business as usual in Detroit, where GM CEO Rick Wagoner just announced a staggering... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

BusinessWeek (Source Grid »)

A new deal with the UAW for GM
Associated Press

GM eyes research
Associated Press

Money

United Auto Workers • General Motors • Detroit • auto industry • Rick Wagoner

More Newser Stories

GM Offering Buyouts to 5,200 Workers

New round aims to slash labor costs

(NEWSER) - General Motors is offering to buy out another 5,200 hourly workers, the Detroit News reports. The automaker, worried that the slowdown in auto sales will carry into next year, is keen to get veteran workers out the door and lower-paid new workers in. Over 34,000 blue-collar workers left the company last year in a similar deal. More»

GM: Give Us More Money or We'll Go Bankrupt

GM, Chrysler working to prepare turnaround plans before Tuesday deadline

(NEWSER) - General Motors will put Congress between a rock and a hard place when it presents its turnaround plan next week, reports the Wall Street Journal. Insiders say the automaker will ask for at least another $5 billion in loans on top of the $13.4 billion already received to keep it going beyond the first quarter, and will tell lawmakers its only other option is reorganization through bankruptcy. More»

Dark Day for Detroit

Bailout collapse leaves state fretting over future

(NEWSER) - Detroit's bailout has crashed and burned, casting a pall on Michigan's future, the Detroit Free Press writes. The state knows the pain that comes with tough times in the auto industry all too well, and it's "incredible" that any American lawmaker "could want to watch these hard times turn so much harder for so many people," notes a Press editorial. More»

GM Shrinks Fleet of Corporate Jets

Automaker, pilloried on Capitol Hill, is retiring two of five planes

(NEWSER) - After facing turbulence on Capitol Hill over its corporate jets, General Motors is cutting two aircraft from the ranks, the Detroit News reports. “This is strictly the result of drastic cutbacks in travel around the globe,” said a spokesman. The automaker, which began this year with seven jets, also turned in two in September. GM spent $256,793 on flight costs for its top execs last year. More»

Bailout Wait 'Nerve-Wracking'

Hearings 'more hostile than expected,' says Wagoner

(NEWSER) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to hand over billions in aid. Legislators are requiring plans from each of the Big Three automakers before they'll agree to a rescue package. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

GM’s Wagoner Weathering the Storm

Despite $39B loss, he's earned respect, making progress

United Auto Workers • General Motors • Detroit • auto industry • Rick Wagoner

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

GM Offering Buyouts to 5,200 Workers

New round aims to slash labor costs

GM: Give Us More Money or We'll Go Bankrupt

GM, Chrysler working to prepare turnaround plans before Tuesday deadline

Dark Day for Detroit

Bailout collapse leaves state fretting over future

GM Shrinks Fleet of Corporate Jets

Automaker, pilloried on Capitol Hill, is retiring two of five planes

Bailout Wait 'Nerve-Wracking'

Hearings 'more hostile than expected,' says Wagoner

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?