Flying Pink Unicorns

GM gets serious

Well, I ripped Ford a new one in my earlier post, and I don't apologize. Ford should have gone further than it judged necessary, just to make crystal clear to wavering lawmakers that it was serious. GM IS serious, and apparently will run out of money by the end of the year if it doesn't receive a big infusion, quickly. GM, in contrast to Ford, which came to Congress with nothing, promised deep cuts, the elimination of divisions, namely Saturn (ouch, a good small car), Saab, Hummer (what, no political tin ear?) and Pontiac. GM said it would cut more than 20% of its remaining jobs, shut nine factories, seek to renegotiate the terms of its $66 billion in debt and push to reopen talks with the UAW to cut its labor costs.

http://www.nytimes.com/2008/12/03/business/03auto.html?_r=1&th&emc=th

Now that's more like it!!