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Article: Strings attached to aid would force big changes at GM.(General Motors Corp.)
- Article from:
- Crain's Detroit Business
- Article date:
- November 17, 2008
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: JAMIE LAREAU
Even if General Motors Corp. gets a congressional bailout to survive the next year an outcome very much in doubt the company will emerge in 2010 looking very different from the one that exists today.
For starters, it will be a lot smaller. According to some estimates, GM must slash North American production as much as 700,000 units the equivalent of two-and-a-half assembly plants.
It will be partially owned by taxpayers; it will produce smaller, fuel-efficient vehicles; sales incentives will drop; and departing executives won't get golden parachutes.
Let's assume, for the moment, that Congress gives GM the $12 ...