populist rage
The huge salaries and bonuses paid to executives of banks and other firms that received government
bailout funds have been the subject of a lot of taxpayer rage. The Obama administration listened, and will order
pay cuts.
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cars
The Washington Post notes that although
Saturn dealerships have until this time next year to close, many will be saying goodbye sooner due to low inventory, and that's partly why
now is a good time to buy a Saturn. That is, if you don't plan on reselling it in a couple of years.
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hummer
So long, Hummer. Sort of. GM and Chinese company Tengzhong are closer to their deal to sell the Hummer brand.
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automobiles
Saturn will not have a new life as part of Penske, the company that, among other things, distributes Smart
cars in the U.S. Talks between Penske and GM fell apart today, and so did any chance for a deal.
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credit limits
Paul Smith, who lives in San Diego and has a credit score of 751, had his HSBC credit card limit lowered from $7,000 to $1,400 recently for mysterious reasons.
He called HSBC to find out why.
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Carpocalypse
A new report by the Congressional Oversight Panel — an independent, yet totally powerless, group appointed by the Senate to review the results of the recent government bailouts — states that we'll get a few bucks back from the automakers, but shouldn't count on it to cover our car payments:
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Carpocalypse
The Pontiac G8, from what we can tell, is considered the only Pontiac worth saving — and so it has been saved. It'll now be known as the Chevrolet Caprice, according to USAToday.
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partnerships
General Motors is considering a partnership with eBay to make it easier for consumers to impulse-buy new vehicles, the recently solvent car maker announced yesterday. Though the deal isn't yet finalized,
General Motors would like to sell their vehicles both through traditional auctions and with a "Buy It Now" option.
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government motors
Cupcakes all around!
Government General Motors emerged from bankruptcy today, and the shiny new version of GM is now leaner, in charge, and ready to manufacture cars that people actually want to buy. Maybe.
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poll
Up until its recent plunge into bankruptcy, GM had been our nation's second-largest advertiser — behind only Procter & Gamble. The company spent $2 billion dollars annually for the past few years — and though they've recently cut back and fallen into third place behind Verizon, the company apparently plans to continue to spend their pre-bankruptcy budget of $40-50 million a month on ads.
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gm
With the future uncertain, or at the very least, pretty different from normal, for
Chrysler and GM, does it make sense to buy a car from one of these companies? How doe s the restructuring affect you as a potential new car owner?
Consumer Reports Online Auto Crisis Center has the answers to six questions every Chrysler and GM car owner will want to know before signing on the line which is dotted.
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Carpocalypse
Good news for
Saturn-lovers, the brand is close to being saved by
Roger Penske, a Detroit businessman who runs the Penske Automotive Group (PAG) chain of dealers, and distributes the Smart line of mini-cars in the US. The
Detroit Free Press says that the deal will have GM manufacturing Saturns for two years, after which Penske will be looking for a new manufacturer.
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