FLINT-AREA BUSINESS

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So Chrysler has identified General Motors as its next possible parent. On the surface, it would seem to make more sense for Chrysler than for GM.

Since Cerberus Capital Management bought 80.1 percent of Chrysler from Daimler in 2007, the private equity firm has had a quick lesson in the costs of running an automaker. Global competition, new regulations being introduced all the time and the whims of consumers conspire to make it an industry suited only for those with strong constitutions and deep pockets. Throw in the recent runup in fuel prices, and all three of the domestic automakers are facing significant trouble.

Continue reading "It's tough to see how merger would bolster General Motors" »

GENESEE COUNTY, Michigan -- Two powerhouses in retail car sales both saw the news in Saturday morning's newspaper and both had a similar first- blush reaction:

General Motors and Chrysler talking merger now? You've got to be kidding.

Continue reading "Two top Genesee County GM dealers - Serra and Williamson - wonder about benefits of GM merger with Chrysler" »

How many times have you done this?:

You see a gas price that's 10 cents cheaper than all the neighboring gas stations, so you pull in excited that you're going to get a great deal (that's relatively speaking, of course).

But once you're in the station you look a bit closer at the fine print on the sign and see the dreaded words "with car wash".

It took me a couple times (OK, about eight times), but I've caught on and now don't go in any gas station that's 10 cents cheaper than all the other stations around it. That'll teach 'em.

But I do have a couple stations that I will use when I actually need a car wash.

Continue reading "Pain at the pump; Flint Journal business writer Matt Bach dislikes gas stations that give discounts tied to car washes and paying cash; What do you think?" »

Flint Journal feedback: Should a merger between GM and Chrysler take place. Vote in our poll and tell us your view in the comments area below.

The New York Times is reporting that General Motors is in preliminary talks about a possible merger with Chrysler, a deal that could drastically remake the landscape of the auto industry by reducing the Big Three of Detroit automakers to the Big Two.

The talks between GM and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago, and the negotiations are not certain to produce a deal.

Two people close to the process said the chances of a merger were "50-50" as of Friday and most likely would still take weeks to work out.

A merger would be a historic event, with two of the most iconic names in American industry coming together to survive in an increasingly difficult environment.

Flint is the birthplace of General Motors, founded 100 years ago in a building now preserved as a historic place on Water Street by William C. "Billy" Durant.

News of merger talks came as a shock to current and recent GM workers.

Continue reading "Report: GM talking merger with Chrysler; Should Big Three become the Big Two?" »

FLINT, Michigan -- More than 60 high-paying jobs with AT&T are being cut here by Dec. 22, but AT&T and Communication Workers of America officials said the employees likely can transfer to other positions within AT&T.

"I would hope at the end of the day nobody who wants to keep working will lose their jobs," said Mike Smith, vice president of Communication Workers of America Local 4103, which represents about 260 workers in Genesee and Lapeer counties. "But, A, that's not a guarantee, and B, that doesn't do much for us here in Genesee County."

Smith said 63 employees who work at AT&T's building at 502 Beach St. and proofread orders for customers returning to AT&T from other phone companies were told last month that their jobs will be axed.

Continue reading "AT&T cutting 60-plus jobs in Flint" »

Note: This is an updated version of an earlier post on this topic.

• Flint Journal feedback: Will GM's stock price get any worse or has it finally hit bottom. Vote in our poll and tell us your view in the comments area below.

• Related article: GM stock price takes another hit; What do you think will happen next?

GENESEE COUNTY, Michigan -- Greg Snider will probably have to work longer than he planned.

BJ Walker may soon have to start looking for a part-time job to make ends meet.

And John Hempsall may have to deplete what's rest of his savings just to pay for his much-needed medication.

All three men are local General Motors employees or retirees who are anxiously watching the stock market to see how their -- and GM's -- futures will play out.

Continue reading "General Motors stocks plummet; GM retirees worries soar; 'Everyone's scared' - worker says" »

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