Ohio Wins I-Bowl
Ohio I-Bowl News 12-
Sandy Hook Tribute
ULM: I-Bowl Dec.28
Whit Graves 26thJDC
Swaine: $250K Grant
James Burton Guitar Festival
Haynesville Shale Landowners...
Chesapeake Energy Corp.
S-B I-20 DOTD Traffic Camera...
Robinson Film Center-S'port,...
Travelhost Magazine: Shrevep...
Reed Dickens: Outside Eyes
The FORUM News Magazine
ShreveportNorth.org - Agurs ...
Judge Frances Pitman
Sci-Port Discovery Center: S...
Tom Pace Photography
Strand Theatre, Shreveport
National Weather Service
2009 AdvoCare I-Bowl
Jim Brown's Common Sense
LOGA: Haynesville Shale Info...
Horseshoe Casino-Hotel, Boss...
Judge Scott Crichton
View News Update
BREAKING: 7-15-08 G.M. Announces More Layoffs; Production Cuts: What About S'port Hummer?
Chief Operating Officer Fritz Henderson said GM wants to reduce its total salaried costs in the U.S. and Canada by 20 percent.
A large chunk of the reduction, he said, would come from cutting health care benefits for salaried retirees. Those people would get a pension increase from the company's overfunded pension fund to help compensate for Medicare and supplemental insurance, the company said.
Several thousand jobs will be cut through normal attrition and retirements, and through early retirement and buyout offers, Henderson said. The company could resort to involuntary layoffs but does not want to, he said.
GM has 40,000 salaried employees in the U.S. and Canada.
Henderson said the company intends to reduce its truck production capacity by 300,000 units, 150,000 more than it announced at its annual meeting in June.
The company will speed up closures of its truck and sport utility vehicle factories in Janesville, Wis.; Oshawa, Ontario; Silao, Mexico; and Moraine, Ohio, and it will make thousands of job cuts at other truck assembly and parts factories, Henderson said.
He would not say if further plants will be closed, and said the company still must negotiate further cuts with the United Auto Workers.
GM said it will suspend its $1 annual dividend immediately, which will improve liquidity by $800 million through 2009. It's the first time the company has suspended its dividend since 1922.
Majicko 1.1.0! (C) 2007 Majicko.com
Web Hosting donated by Bandwise, LLC