GM gives 54 sponsorship contracts the axe
Tuesday, July 14th, 2009
Due to the current state of the economy, GM was recently given the permission to put a halt to 54 sponsorships including advertising and marketing contracts in the US.
These cuts will save GM millions of dollars which will hopefully help the company regain its footing in the shakey encomoy. WorldCarFans reports that due to these budget cuts the Chevrolet Clock in Times Square that has been standing since the 1930s will be dismantled.
With all of this help from the government will it be enough to save GM? Or will it only prolong the inevitable effectively slowing the company’s death? Only time will tell.
Tags: budget cut, economy, federal judge, recession, sponsorship, us government