TOM WALSH: GM fights to stay afloat in sinking economy

 15.07.2008 14:19   freep.com

America's economy is in the toilet, and General Motors Corp.'s business is right there with it. Reacting to $4.25-per-gallon gasoline and turmoil in the housing and stock markets, GM rolled out a wave of new cost-cutting steps today and did some balance sheet juggling to pay retirees more pension dollars while slashing their health care, in order to keep the corporate boat afloat.

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