Archive for the ‘General Motors’ Category

The Treasury Department made headlines last week when it announced that bigwigs at bailed-out companies would be taking some sizable pay cuts. From banks to auto companies, many of those affected by the plan have remained silent, but General Motors' Fritz Henderson has now admitted that it's the right thing to do: "tough", but ultimately "fair". Of course, he's one of the lucky ones who's managed to avoid the feds' $500,000 salary cap. In fact, even with the reduction, Fritz will still make $950,000 a year, which sounds slightly more than "fair" -- though losing $310,000 worth of salary is slightly more than "tough", too. [DetNews]

General Motors’ new global small car, the 2011 Chevrolet Cruze, already has the weight of the company's hopes on its shoulders, but news that GM is planning to delay the North American launch of the car threatens to weaken anticipation for the highly-efficient small sedan before it even hits the streets.

According to a new report, GM has delayed the launch of the Cruze by three months until the third quarter of 2010. Rising development costs are creating serious liquidity problems at GM but the automaker insists the delay is to ensure a perfect launch.

One benefit is that the extra three months will allow GM to produce all variations...

Saturn fans are an exceptional bunch. Despite recent surveys showing brand loyalty to be a thing of the past, Saturn owners' passion for their rides is the stuff of legend -- so the fact that slowly dying Saturn recently sent "Dear John" letters to its customers seems oddly appropriate. The one-page missive has all the hallmarks of a breakup note, including the requisite "It'll be tough, but I'm sure you'll struggle through" lingo. Ordinarily, we'd write this off as GM's desperate, schmaltzy attempt to retain customers, but the tone is so right, so fitting for Saturn, it seems on-point -- possibly even poignant. Cynics, enlarge that image...