Bring Out The Axe: GM Announcing Major Changes This Friday

General Motors Corp. is expected to announce "important changes" to its automotive operations Friday when the automaker releases third-quarter financial results, according to an internal e-mail obtained by The Detroit News.

According to the e-mail sent to company executives Monday, CEO Rick Wagoner and President and Chief Operating Officer Fritz Henderson will announce changes to employees at 11 a.m. Friday that address challenges "brought on by the volatile global economic situation."

"Clearly given the challenges the industry is facing, we're probably going to have to make additional adjustments," GM spokesman Tom Wilkinson said today. "It's a very challenging time right now."

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sold2early - 11/5/2008 2:33:51 PM

+1 Boost

This could be disastrous to the liquor stores and fast food restaurants in the area.

rocker - 11/5/2008 3:00:23 PM

+3 Boost

Actually liquor sales will probably spike for the weekend.

Threepoint1415926 - 11/5/2008 4:56:14 PM

+2 Boost

I was going to say, liquor sales in general have been steadily increasing. Good time to be in the liquor business.

woood - 11/5/2008 10:35:38 PM

-1 Boost

Axe, Axe, axe! Bring your manufacturing and dealer size down to a Kia's and maybe GM will be profitable again by 2020.