GM to cut salaried workers, production, dividend

7/15/2008

DETROIT - General Motors Corp. said Tuesday it will lay off salaried workers, cut truck production, suspend its dividend and borrow $2 billion to $3 billion to weather a severe downturn in the U.S. market. GM said the moves will raise $15 billion to help cover losses and turn around its North American operations, including $10 billion from internal cost-cutting and $5 billion from selling some assets and borrowing against others.

An East Toledo man was fatally wounded when another man shot him in the face early Tuesday during an argument in front of a South Toledo house, authorities said. David Babcock, 46, of 908 Kingston Ave., was taken to St. Vincent Mercy Medical Center, where he was pronounced dead, Toledo police said.

A Tiffin woman was hurt seriously when her sport-utility vehicle was struck from behind Monday evening, causing it to go off a Clinton Township road, overturn, and strike a tree. Patricia Elchert, 61, the SUV driver, was taken to Tiffin Mercy Hospital and then flown to St. Vincent Mercy Medical Center in Toledo, where she was listed in serious condition Tuesday morning following the crash at 7:50 p.m. Monday.