Word: afloat
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...makers are going to survive - government bailout or not - there's no leaving out the United Auto Workers. Delicate negotiations on things like retiree health benefits will be necessary as the car companies, unions and the government try to chart a course that will keep the American auto industry afloat. Enter Ron Bloom. President Obama has scrapped his initial plan for a "car czar", but Bloom - who has strong ties to private banking and labor - will reportedly serve in a high-profile advisory role on an automobile task force at the Department of the Treasury. (See the 50 worst cars...
...president since 1996 and his duties include helping the union affect corporate business restructuring, investments, bankruptcies and mergers. He is particularly known for working on deals related to recent steel industry bankruptcies. In many of these deals, the USW made considerable concessions in order to help steel companies stay afloat...
Though she empathized with departments that have had to slash budgets, Faust said such actions were worthwhile sacrifices to keep the institution afloat...
...another round of layoffs. It has hopes, which are probably futile, that it can push out enough people, in addition to getting creditor concessions and supplier price cuts, to prove to Congress that it can operate at break-even. That would give it additional government funds to keep it afloat while it restructures. To reach part of its goal, the company is offering incentives which it believes will get 10,000 union members off its payroll. Bloomberg has reported that it may fire another 5,000 white collar workers...
...financial house in order as an immediate priority." Borders stock has flirted with a New York Stock Exchange delisting; it closed at 52 cents per share on Jan. 27, a 95% drop over last year. "They're in survival mode," says Davidowitz. But how can the company stay afloat when the economy has turned against the whole industry (even Barnes & Noble is struggling), and when big boxes like Walmart and Target are moving into the book-selling game? "Borders has to give people a reason to shop there," says Norris, starting with improving customer service. "It has to be more...