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A $50,000 retirement incentive. The agreement also will allow GM employees at certain plants a chance to transfer to either the battery plants or electric vehicle plants when there is an opening ...
Likewise, the Free Press reported on Jan. 23 that UAW-represented workers at Ford also began receiving $50,000 buyout offers. The window for eligible employees to sign up for that program was ...
On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
Rebates, employee pricing, and 0% financing boosted sales but drained the automaker's cash reserves. The subprime mortgage crisis and high oil prices of 2008 caused the popularity of once best-selling trucks and SUVs to plummet. Automakers were forced to continue offering heavy incentives to help clear excess inventory.
Employee pricing. Employee pricing is a selling strategy launched in 2005 by the auto industry to attract customers by using the discounted prices that auto industry employees pay for new cars rather than the sticker price MSRP. The program was first offered that year by General Motors, and later followed by Ford, Chrysler, and some local ...
GM union members had until Thursday at 4 p.m. ET to vote on ratifying the tentative deal. As for the other members of the Big Three, per the UAW Ford’s ( F) union workers have thus far approved ...
During the Great Recession, we all know how much the Detroit Three suffered. General Motors and Chrysler took government bailouts, and Ford added massive amounts of debt on its own to avoid the ...
SIMPLE – Savings Incentive Match Plan for Employees; SIOP – Sales Inventory and Operations Plan; SIR – Stores Issuance Requisition; SIV – Structured investment vehicle; SKU – Stock keeping unit; SLA – Service Level Agreement; SMA – Separately Managed Account; SME – Small and Medium Enterprises; SOHO – Small office/home office