Today GM and Chrysler both submitted turnaround plans as part of their agreement with the government last year to provide them with the first of likely several loans.
GM plans to kill or sell Hummer, Saab, and Saturn by 2011. Pontiac will be a "focused" brand, meaning there may be one car called a Pontiac. Or something like that. They also want another $16B.
Chrysler has no plans to close its divisions, because all it has are Dodge, Jeep, and Chrysler. They want another $2B.
GM's plan is here.
Chrysler's is here.
Ford has not yet taken a loan, so they do not have to show that they are "viable" as it is assume that they are for the time being.
1 comment:
GM & Chysler are jokes and crooks. They deserve to go under.
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