A2: Auto Industry

By

Bloomberg News reports on buyouts and changes that GM and Chrysler are making in their labor contracts in order to retain federal loans. The article quotes Dennis Virag of the Ann Arbor-based Automotive Consulting Group: ”With everything that has happened over the past 24 hours it’s almost desperation pace. When you offer all of your hourly workers a buyout, that’s certainly a sign of a troubled organization.” [Source]