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Stores feel GM plant shutdown

Article Abstract:

General Motors' (GM) decision to close its assembly plant located just outside Wilmington, DE, affected pizzerias, convenience stores and other businesses in the Wilmington area. The closure of the plant not only resulted in losses, but also unemployment and lower sales results. According to Steve Kalogiros, he was forced to lay off two part-time workers at Party Pizza in early July 1998 due to the decline in the number of customers that was prompted by the closure of the GM plant. However, the plant closing was not felt by the city government for it is outside the city limits and the lost in revenue was not that significant to warrant attention, said Thomas Noyes, special assistant to the Wilmington mayor.

Comment:

Decision to close assembly plant located just outside Wilmington, DE, has affected Wilmington pizzerias & convenience stores

Plant shutdown, Public affairs, Delaware

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Ominous times for GM and autoworkers in Flint

Article Abstract:

General Motors is entering a critical period in its history which may also affect its automobile assembly labor force in Flint, MI, after surviving two labor strikes which resulted in closure of 27 North American manufacturing facilities. General Motors veteran employee Craig Layman noted that the strikes may have caused more damage than resolved problems or produced gains. General Motors indicated that it absorbed a $1.65 billion loss in profits due to the work stoppage. That labor action left 192,000 people without any work.

Comment:

Indicates that it absorbed a $1.65 billion loss in profits due to the work stoppage

Strategy & planning, Sales, profits & dividends, Michigan

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Automaker faces wrath of its holders

Article Abstract:

Germany's DaimlerChrysler AG has been confronted by irate shareholders who are angry over the troubled 1998 merger between Daimler Benz and Chrysler Corp. The automaker's annual meeting in Berlin, Germany will include a showdown between management and shareholders over huge losses and massive layoffs.

Germany, Financial management, Motor Vehicles and Equipment, DCX, Daimler AG

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