The GM Bailout – New & Used Cars
General Motors, the biggest of the troubled car companies, is expected to propose a significant shrinking of its North American operations, including shutting more factories and streamlining its sprawling brand line-up. Another idea would have GM buy out dealers that sell new and used cars that exclusively sell Saturns. They would market the cars through its Buick-Pontiac-GMC dealerships. GM is also likely to propose moves that would require cooperation from the United Automobile Workers union, including delaying the company’s $7 billion payment to the union’s retiree health care fund.
