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GM may have to fire 5,000 salaried workers soon. When the government loaned them $13 billion, GM was told that it would have to prove itself to be commercially viable. The cost cutting measure comes after GM’s sales for January dropped 49%.
GM, which saw its …

Through the “jobs bank” program created by the United Auto Workers, union members receive pay even when they are laid off (with no real cut off date).
Each automaker’s jobs bank varies, but at GM, laid-off workers could get 85 percent of their base pay, plus …

Just after noon eastern time, Barack Obama became the 44th President of the United States. He gave an inaugural speech that told Americans to be hopeful but hard times are still ahead.
Here is the text of the speech:
“My fellow citizens:
I stand here today humbled by …

Ford and GM really have a way or reminding us that they are still in trouble. With the Detroit Auto Show going on, both auto companies said today that they are going ahead with the sale of their luxury brands.
Ford Chief Executive Alan Mulally, speaking …

I’ve heard a lot of ideas about how the government is bailing out GM and the other U.S. automakers, but I believe that perhaps they have the ability to save themselves. How?
Here’s how:

And I escaped that with a bruised knee.
I believe if Chevy or GM …