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Economy: General Motors Corporation Cutbacks / Bush / Transportation Bill / Tax Rebate #336464

CBS Evening News for Wednesday, Dec 18, 1991
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(Studio: Dan Rather) Report introduced.

(New York: Ray Brady) GM's announcement of cutbacks featured; details outlined. [GM chairman and CEO Robert STEMPEL - comments on cutbacks.] Reasons for General Motors Corporation losses noted. [Three General Motors Corporation plant WORKERS - comment.] Number of Xerox, TRW and IBM job cuts listed. [Conference Board Audrey FREEDMAN - predicts more job cuts.] Number of hours used to produce Toyota and General Motors Corporation cars compared. [Auto analyst John CASESA - comments on Japanese threat.] Possibility of union problems for GM noted.

(Dallas: Scott Pelley) Effect of big corporation cutbacks on smaller companies featured; details given. [Soon to be unemployed Mike MILLER - comments on loss of his job.] [Glover Machine Company W.H. WAGNER - comments on employee layoffs.] [Maxim Oil and Chemical EMPLOYEE - comments on ties to other industries.] Economists' estimates of job cuts resulting from major corporation cuts noted. [Southern Methodist University David BLAKE - comments on small companies.]

(Studio: Dan Rather) Report introduced.

(White House: Susan Spencer) President Bush's signing of the transportation bill in Dallas featured; scenes shown of Bush dining with and talking to workers. [BUSH - makes speech about jobs.] [Federal Reserve chairman Alan GREENSPAN - notes concern about the economy.] Greenspan reported hinting the Federal Reserve may drop interest rates again soon. [Representative Newt GINGRICH - comments on White House plan to give rebate to taxpayers.] Jimmy Carter's fifty dollar rebate plan recalled.

Brady, Ray;
Pelley, Scott;
Rather, Dan;
Spencer, Susan

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