more jobs to go at gereral motors 7 july 08

The Wall Street Journal (WSJ) that General Motors (GM) is reviewing its strategy and that as well as the job cuts it is considering selling off or suspending some of its marques.
GM recently decided to put its Hummer division up for sale but the WSJ article implies that the Buick, Saturn and Saab (Stockholm: marques are also under threat, while only the core brands of Cadillac and Chevrolet are considered sacrosanct.
Along with other US car manufacturers, GM has been struggling to adapt to a change in customer preferences in the wake of the soaring price of petrol. The company recently said it would cut back production on its highly profitable fuel-guzzling pick-up trucks and sports utility vehicles (SUVs) and give more prominence in its product line to models that are more fuel efficient.
GM is haemorrhaging cash at around $3bn a quarter, and some analysts believe the company will need to raise between $10bn and $15bn in new capital to keep trading until 2010. Although the company has explored the possibility of issuing new shares to raise funds, the fact that the shares recently hit a 50-year low means such a move would seriously dilute existing shareholdings.
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bonds move up 4th of july 2008, uk interest rates next week

LONDON (ShareCast) - European government bonds made headway after buyers returned, their confidence boosted by comments from the President of the European Central Bank (ECB) Jean-Claude Trichet which suggested ECB policy-makers were not predisposed
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towards more interest rate rises this year.
The ECB lifted its key lending rate by 25 basis points to 4.25% yesterday in a move that was heavily foreshadowed.
The yield on the benchmark 10-year bund fell 6 ticks to 4.5%.
In the UK, gilts tracked their European counterparts higher, with the yield on the 10-year gilt sliding 6 basis points to 4.97%.
The Bank of England is to make its decision on its key lending rate next week. Despite increasing levels of noise about the need to control inflation, recent economic data suggests the UK economy is in no fit state to digest a rate increase, and no change to the base rate is expected.
The US was closed today for a public holiday.
last day sking at arapehoe basin, in the rockys, happy 4th of july