Morning in Detroit.(financial problems of General Motors)
Economist (US), The, April, 1996
GM's core automobile industry is showing disappointing profits due to labor relations problems and a need for innovative models. GM's first quarter profits for 1996 will have a $900 million charge for a two-week strike over outsourcing. The company hopes for success from its new U-Vans.
DETROIT
THERE is something about General Motors that prevents it from being judged as if it were just another car maker. A quarter of a century ago, when it made half of America's cars, it was looked upon as a bellwether stock. In the early 1990s, as its share of the market slid towards a third and it recorded enormous losses (more than $23 billion in 1992 alone), its miseries were pounced upon by those prophesying that America was on the way to becoming a Japanese colony. ...
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