Credit crunch

The AA and Trafficmaster have published figures suggesting that congestion has declined by a massive 31% since the beginning of the credit crunch.  The report details that this marked reduction in directly linked to the increase in unemployment during the economic crisis.  Indeed, according to the report, nearly a quarter of those not working lost their jobs over the past 12 months.  So marked is the difference in traffic levels, that the report suggests that rush hour is becoming a thing o

General Motors (GM), the owner of Vauxhall and Opel amongst others, intends to cut 10,000 jobs across its world operations amidst falling sales.  The move will, according to the Times, will mean GM will reduce its "global workforce from 73,000 to 63,000, with about 3,400 of its 29,500 US staff" losing their jobs.  The planned cuts will all be made by the end of April.

General Motors, owners of Chevrolet, Daewoo, Vauxhall and Saab to name a few, have reportedly called for coordinated federal action to assist the ailing U.S. automobile industry according to Reuters. This is of course in response to the slump in markets and credit markets. The US car giant insists that bankruptcy is not an option asserting that such action would not benefit our customers, our dealers or our employees.