Two Cheers for GM’s Chevrolet Volt

Update 8-11-09:
DETROIT (CNNMoney.com) — The Chevrolet Volt, GM’s electric car that’s expected to go on sale in late 2010, is projected to get an estimated 230 miles per gallon, the automaker announced Tuesday.
The fuel efficiency rating is based on the EPA’s proposed methodology which GM used in its Volt tests and applies to city driving only. [...]

More Corporate Welfare for General Motors

As if the bailout from the Federal Government to General Motors wasn’t generous enough, and damaging enough to other companies such as Ford Motor which eschewed a tax-payer funded bailout, here comes more goodies for the former number one automaker, as reported in today’s Wall Street Journal:
As everyone else’s taxes rise, one favored outfit may [...]

GM to Furlough Salaried Employees

This from today’s Wall Street Journal:
General Motors Corp. confirmed Wednesday it will force salaried workers to take up to three months off each year with partial pay as part of an effort to reduce costs during its expected summer shutdown of its car-making plants.
The program, called Salaried Downtime Paid Absence Policy, states that salaried and [...]

Will Congress Now Run the Big Three Automakers?

On Monday, Senate Democrats introduced legislation that would set aside $25 billion to help the industry, drawing from the $700 billion fund created to stabilize financial markets. The legislation would allow the auto companies and parts suppliers to receive “bridge loans” of at least ten years with favorable interest rates. But there is resistance among [...]