The automaker's revised business plan would also leave the government owning at least half of the company. GM's Hummer, Saturn and Saab will cease production by year's end if not sold off. In a desperate bid to avoid bankruptcy, General Motors Corp. today launched a restructuring plan that would eliminate 2,600 dealers, 21,000 workers, $44 billion in debt and four brands, including Pontiac -- while leaving the U.S. government owning at least half of the troubled automaker.
GM faces leaner, government-owned future
General Motors, once the colossus of American capitalism, will become a leaner, government-owned company if the Obama administration goes along with the automaker's plan to slash jobs, close plants and eliminate the legendary Pontiac brand.
Should you scrap your old car?
People rarely make rational decisions, an observation that applies to car ownership as much to marriage. Despite the soaring cost of owning a car, we are loath to give them up. Some of that might be down to such factors as convenience and safety â€" I’d rather be in my own car at 11pm than fidgeting nervously at a bus stop â€" but some of us can’t even bear to scrap cars that we no longer drive. Even the lure of the £1,000 bounty being offered on disused motors might not be enough to tempt richer drivers to ditch them.
Tata Motors launches new Starbus range of buses in Maharashtra
Tata group company, Tata Motors, today announced the launch of an all-new Starbus range of buses in Maharashtra.
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