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Your Best Stuff: Your Reaction: GM closes plant in Oshawa (Finance, 10 articles)
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I. With no end in sight for elevated gas prices, G.M. announced drastic cuts in production of sport utility vehicles and pickups on Tuesday and stepped up plans for smaller cars and engines. G.M.'s chairman and chief executive, Rick Wagoner, said G.M. will cease production at four North American assembly plants that make S.U.V.'s and pickups by 2010. WILMINGTON, Del. (AP) General Motors is closing four truck and SUV plants in the U.S., Canada and Mexico as surging fuel prices hasten a dramatic shift to smaller vehicles. CEO Rick Wagoner said Tuesday before the automaker's annual meeting in Delaware the plants to be closed are in Oshawa, Ontario; Moraine, Ohio; Janesville, Wis.; and Toluca, Mexico. The General Motors Corp. plant in this Dayton suburb is a forest of smokestacks that form the nerve center of this industrial community built along the banks of the Great Miami River. WILMINGTON, Del. - General Motors shareholders blasted the company's chief executive for raking in huge salaries and bonuses while the automaker has struggled financially, but a proposal to give investors a say on executive pay was soundly defeated on Tuesday.
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Other stories about GM, Wagoner and plant:
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Yahoo "completely rewiring" for online advertising growth despite Microsoft talks (Finance, 12 articles)
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In the latest effort to placate restless investors, Yahoo Inc. president Sue Decker laid out plans Wednesday for building the company's online advertising operations, and Yahoo announced a slew of new partnerships. Yahoo on Wednesday rejected allegations by Carl Icahn that it had sabotaged any acquisition by Microsoft with an expensive worker compensation plan. The internet company said Mr Icahn's reference to its employee retention plan as a poison pill "could not be further from the truth".
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Other stories about Yahoo, Microsoft and Search:
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Wal-Mart whittles merchandise to boost sales (Finance, 8 articles)
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Despite falling consumer confidence and gas prices that teetered around $4 a gallon, retailers said Thursday that same-store sales for May were stronger than expected, touching off a stock market rally that lifted the main indexes nearly 2 percent. ROGERS, Ark. - Wal-Mart Stores Inc. is using lessons from its U.S. operations such as multiple store formats and environmental sustainability to help grow its international business, whose sales increased almost 18 percent to $90.6 billion last year. Same-store sales, or sales at stores opened at least a year, in Wal-Mart Brazil's division were up 9.2 percent in its fiscal first quarter.
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Vodafone CEO: Verizon-Alltel hookup 'very good' (Finance, 5 articles)
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Verizon Wireless - which is 45% owned by Vodafone - is paying $5.9bn for the firm and taking on $22.2bn of debt. Analysts said that the deal could be a sign of wider consolidation in the sector, coming on the day that France Telecom made a proposed offer for Swedish firm Teliasoneria, which was rebuffed as too low. (Fortune) Verizon is betting its planned purchase of Alltel will keep growth at its Verizon Wireless unit humming along.
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blaster@cs.columbia.edu
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