Menu
Share
Share this story
Close X
 
Switch to Desktop Site

Business & Finance

General Motors expects to offer early-retirement buyouts to white-collar employees aged 50 and older, a company spokesman confirmed, calling the move "a continuation of the cuts we've been making" for the past two years. The offers, effective April 1, are aimed at trimming the auto-maker's workforce by about 5,000. In another cost-cutting effort, GM will delay until late in the year the merit increases usually awarded in June, the spokesman said.

Exxon Mobil appears to have lost its bid to join a consortium of energy giants in an $18 billion natural gas project in underdeveloped western China, reports said. The US company was excluded from the preliminary list of foreign participants in the project, which includes exploration, development, and a 3,600-mile pipeline. As recently as last month it was expected that Exxon Mobil would emerge as a partner. Instead, the winner was a consortium of Royal Dutch/Shell and Russia's Gazprom, which will take a 45 percent stake to 55 percent for PetroChina. China is the world's third-largest energy market.

About these ads

Dave Thomas, who died at home in Fort Lauderdale, Fla., was the founder and senior chairman of Wendy's International Inc. But although the Dublin, Ohio-based company is No. 3 among fast-food chains, Thomas was perhaps the most-recognized executive in American business because of his appearance - always in a short-sleeved white shirt and red tie - in hundreds of homespun, self-effacing TV commercials. He also was a philanthropist, setting up a foundation to raise public awareness of and develop incentives for adoption.