When General Motors and Chrysler asked Washington for more money last week they took very different approaches. In exchange for an extra $17 billion from taxpayers \u00e2\u20ac\u201d on top of the $13 billion it had gotten since December \u00e2\u20ac\u201d G.M. said it would reduce costs by shuttering plants, cutting brands and slashing 47,000 jobs, about a fifth of its remaining work force.<\/p>\n
For its $5.3 billion \u00e2\u20ac\u201d on top of the $4.3 billion it has received since December \u00e2\u20ac\u201d Chrysler offered little more than an assurance that it has already cut costs and accomplished most of what it had to do to become a valuable, viable company. It offered to trim production by a paltry 100,000 units \u00e2\u20ac\u201d leaving it with capacity to make almost one million vehicles more than it will sell this year \u00e2\u20ac\u201d on the questionable assumption that demand, and its market share, will bounce back next year…\u00c2\u00a0 More info…\u00c2\u00a0<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" When General Motors and Chrysler asked Washington for more money last week they took very different approaches. In exchange for an extra $17 billion from taxpayers \u00e2\u20ac\u201d on top of the $13 billion it had gotten since December \u00e2\u20ac\u201d G.M. said it would reduce costs by shuttering plants, cutting brands and slashing 47,000 jobs, about […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,23],"tags":[],"class_list":["post-218","post","type-post","status-publish","format-standard","hentry","category-automobile","category-new-automobile-products-tests"],"_links":{"self":[{"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/posts\/218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=218"}],"version-history":[{"count":3,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/posts\/218\/revisions"}],"predecessor-version":[{"id":220,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=\/wp\/v2\/posts\/218\/revisions\/220"}],"wp:attachment":[{"href":"http:\/\/www.stokednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=218"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.stokednews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}