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Ford Motor Co. (NYSE:F): According to the Detroit News, Ford, in an attempt to close their funding gap and shore up their balance sheet, has begun sending out specific proposals to their white-collar workers to buy out their pensions with a single lump-sum payment. Upon receiving the offers, former workers will have 90 days to respond.
General Motors Company (NYSE:GM): The Detroit News reported that two key General Motors (NYSE:GM) executives, Global Chief Marketing Officer Joel Ewanick and North American Interior Design leader David Lyon, have resigned from the company within the past two weeks. A spokesperson said that the timing of the departures is “purely coincidental.” This has left some concerned about GM’s management direction and culture.
Honda Motor Co., Ltd. (NYSE:HMC): Honda reported that for the first quarter, their earnings per share was 92c, one estimate was $1.17.
Tesla Motors, Inc. (NASDAQ:TSLA): According to news reports, Entrepenaur Elon Musk of PayPal, Tesla Motors and SpaceX fame has his eyes on an Earth-based people mover that is twice as fast as an airplane and as convenient as riding a train. While details on the Hyperloop system are scant, Musk recently told Pando Daily that it is “Something that can never crash, is immune to weather, goes three or four times faster than the bullet train.”
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