TOP 100 RACING SITES
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| GM: $30 billion minus $2 billion is still $30 billion Here’s a little public relations maneuver for you. General Motors said today that the company won’t need $2 billion in credit this month from the Treasury Department. GM says that it has cut corners, wrung out costs and otherwise thrifted its way to saving $2 billion. The company retrofitted an old building to house a new engine plant to save bucks. It has also cut back marketing during the NCAA Final Four to pinch a few more pennies. But GM still wants access to as much as $30 billion in government loans. That is the same amount the company said it would need when management submitted its restructuring plan to the Treasury Department on Feb. 17. In other words, $30 billion minus $2 billion is still $30 billion in government loans. So while the savings may be real, GM still must borrow heavily to stay out of bankruptcy. That’s why this is a P.R. play. Give the company its due for continuing to slash costs. But the story line remains the same for now. GM is on life support. rss.businessweek.com |
Rosberg on top in Monaco Nico Rosberg maintained this season¿s record of regularly topping the times on the opening day of free practice in preparation for Sunday's Monaco Grand Prix. foxsports.com.au |
The Roar of Distraction Is Rerouted to Budapest As the Hungarian Grand Prix nears, the leaders Mosley and Ecclestone must deal with questions about their status and their reputations. nytimes.com |
Ferrari strikes deal with Alonso; Raikkonen out Ferrari reached an agreement to sign driver Fernando Alonso on Wednesday, replacing Kimi Raikkonen starting next season. Alonso ... rssfeeds.usatoday.com |
Vote now: Who's your pick for NASCAR champ in 2010? With the NASCAR season a little more than a month away, it's time to get preseason predictions on the track. So we ask you: Who's ... rssfeeds.usatoday.com |