GM to cut 21,000 US factory jobs, shed Pontiac
DETROIT (AP) -- General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take stock in exchange for half GM's government debt as part of a major restructuring effort that would leave current shareholders holding just 1 percent of the company.
Source: http://finance.yahoo.com/news/GM-to...038678.html;_ylt=AtCeROz7Fsmy.o1CfgNweyDyKIkA
Goodbye, Pontiac. I shall miss you and the wonderful cars you've made over the years. No words can express how sad I am at the fact that I can never have the option of buying a new GTO, Firebird Trans Am, Solstice, G8 or Starchief from you in the future. Things shouldn't have turned out this way for you. However, that terrible form of Socialism that has been Detroit's bane for decades (the UAW) just can't help but act like a cancer.
Rest in Peace, Old Friend. I will always remember to "put a tiger in my tank" and that "Wider is Better."
- Matt
DETROIT (AP) -- General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take stock in exchange for half GM's government debt as part of a major restructuring effort that would leave current shareholders holding just 1 percent of the company.
Source: http://finance.yahoo.com/news/GM-to...038678.html;_ylt=AtCeROz7Fsmy.o1CfgNweyDyKIkA
Goodbye, Pontiac. I shall miss you and the wonderful cars you've made over the years. No words can express how sad I am at the fact that I can never have the option of buying a new GTO, Firebird Trans Am, Solstice, G8 or Starchief from you in the future. Things shouldn't have turned out this way for you. However, that terrible form of Socialism that has been Detroit's bane for decades (the UAW) just can't help but act like a cancer.
Rest in Peace, Old Friend. I will always remember to "put a tiger in my tank" and that "Wider is Better."
- Matt