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Originally Posted by irpq11
Well, considering the news of performance cars on indefinate hold coupled with the Pontiac cuts, I think the Firebird is dead.
GM just spread it's self too thin. Ford if I'm not mistaken, still hasn't asked for any money. Might change but you have to tip your hat to ford.
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You realize, the same thing that is happening to GM happened to ford a few years ago. Luckily for them, it was before the credit crunch, so they were able to get loans, loans that are no longer available to GM. looking back on it, if Ford had done better, they may have held off getting loans for a few more years, and would be right in the same position as GM. If that's not irony, I don't know what is.
Quote:
Originally Posted by camaro_corvette
Somethings gotto give. Either they take a cut in pay, or GM keeps hacking jobs. (wait, while they are restructuring people are going to get laid off anyways so it comes down to a cut in pay)
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Wagoner is obviously on $1/year. Other Execs had their pay cut 40%. All salaried workers got their pay cut 3-7%. So yes, they are cutting pay too. They've also been cutting benefits and raising fees on things like company vehicles for the last few years.