GM Makes Deep, Deep Cuts

Image from source, Bloomberg

Yikes. Is the recession still all in our heads?

[Excerpt]

GM Spending Cuts to Add $15 Billion to Cash by 2009

July 15 (Bloomberg) -- General Motors Corp., buffeted by a U.S. sales collapse and three years of losses, suspended its stock dividend, cut salaried worker costs by 20 percent and proposed selling assets to raise at least $15 billion in the next 18 months. . .

Read more at: Bloomberg