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Latest Kirk Kerkorian Stories

2006-01-10 14:38:14

DETROIT (Reuters) - General Motors Corp. Chief Financial Officer Fritz Henderson said on Tuesday that the automaker is operating in a "crisis mode" and shares the sense of urgency of Jerome York, a close aide to billionaire investor Kirk Kerkorian. York, in a speech in Detroit, called for GM to step up efforts to stanch its mounting financial losses. "This is one of our largest shareholders who is articulating his vision for what we need to do and frankly there is a lot that he had...

2005-11-21 14:44:25

By Tom Brown DETROIT (Reuters) - General Motors Corp. said on Monday it would cut 30,000 North American manufacturing jobs and close a dozen plants as it struggles to compete with fast-growing rivals led by Toyota Motor Corp. The cuts affect about a quarter of the North American factory work force at GM and are the deepest since it eliminated 21 plants and 74,000 jobs over four years beginning in December 1991. The latest plan, which affects factories in the United States and...

2005-11-21 11:05:26

DETROIT (Reuters) - General Motors Corp. said on Monday it will cut more than a quarter of its North American manufacturing jobs and slash the number of vehicles it produces as the world's No. 1 automaker struggles for survival. The 30,000 job cuts represent 27 percent of the company's total North American manufacturing work force, using GM data from the end of last year. It is the largest GM cut since December 1991, when it said it would close 21 plants and eliminate 74,000 jobs....

2005-10-17 16:17:37

(Please read in 20th paragraph ... Kerkorian, who may demand a seat on the company's board ... instead of ... Kerkorian, who has criticized GM management and is demanding a seat ... .) By Poornima Gupta DETROIT (Reuters) - General Motors Corp. on Monday announced a deal with the United Auto Workers union to slash its multibillion-dollar health-care costs, sending its shares up as much as 13 percent even as it posted a fourth straight quarterly loss. The cash-strapped automaker said...

2005-10-17 11:24:45

By Poornima Gupta DETROIT (Reuters) - General Motors Corp. on Monday announced a deal with the United Auto Workers union to slash its multibillion-dollar health-care costs, sending its shares up as much as 13 percent even as it posted a fourth straight quarterly loss. The cash-strapped automaker said the pact would reduce its employee health-care expenses by $3 billion annually before taxes. "This is a huge move," said GM Chairman and Chief Executive Rick Wagoner, who has been...

2005-10-17 09:47:17

By Poornima Gupta DETROIT (Reuters) - General Motors Corp. on Monday announced a deal with the United Auto Workers union to slash its health-care costs, sending its shares up as much as 13 percent even as it posted a fourth straight quarterly loss. The cash-strapped automaker said the pact would reduce its employee health-care expenses by $3 billion annually before taxes. Cash savings are estimated at $1 billion a year. GM also said it was exploring the sale of a controlling...

2005-10-17 09:30:07

By Poornima Gupta DETROIT (Reuters) - General Motors Corp. on Monday announced a deal with the United Auto Workers union to slash its health-care costs, sending its shares up as much as 13 percent even as it posted a fourth straight quarterly loss. The cash-strapped automaker said the pact would reduce its employee health-care expenses by $3 billion annually before taxes. Cash savings are estimated at $1 billion a year. GM also said it was exploring the sale of a controlling...


Word of the Day
abrosia
  • Wasting away as a result of abstinence from food.
The word 'abrosia' comes from a Greek roots meaning 'not' and 'eating'.