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Last updated 3:07AM ET
February 25, 2021
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GM Wagoner speaks about #1 spot
(2007-04-25)
(wgvu) - C-E-O Rick Wagoner says General Motors will
"fight hard for every sale" to regain its title as the world's
largest automaker.
His words came in an e-mail message to company officials hours
after Toyota dethroned G-M yesterday.
Wagoner says G-M's business strategies worldwide are working and
will help the manufacturer succeed.
Toyota says it sold two-point-35 (m) million vehicles worldwide
in the first quarter, surpassing the two-point-26 (m) million
vehicles G-M sold in the quarter. It meant that Toyota passed G-M
on a quarterly basis for the first time.
Many analysts predict it will beat G-M in sales and production
for the full year.

STATE BUDGET
Top Democrat says Republicans will vote for tax increase

LANSING, Mich. (AP) - A top Democratic lawmaker says a potential
cut to Michigan's K-through-12 schools that could reach 125 dollars
a student will force Republicans to vote for a tax increase.
Senator Michael Switalski also says legislators are starting to
approve higher spending in the next budget year, which increases
the need for higher taxes.
Switalski says Senate Republicans are starting to talk privately
about needing extra revenue, after they voted for spending
reductions only to learn tax revenue may fall farther short of
projections.
Republican Senate Majority Leader Mike Bishop has said Governor
Granholm and Democrats who control the House need to first agree on
a tax increase before he'd consider one.

LEAR EARNINGS
Lear 1Q profit rises sharply on gain in customers beyond N.
Amer.

SOUTHFIELD, Mich. (AP) - The auto-parts maker Lear says its
first-quarter profit rose sharply as it gained new customers
outside North America.
Investor Carl Icahn recently reached a deal to take over the
Southfield-based company.
Lear says its quarterly earnings were 50 (M) million dollars
compared from 18 (M) million dollars during the same period last
year.
And as shares rose on today's news, so too did speculation among
analysts that better offers than the Icahn affiliate's could emerge
in the weeks ahead.
If no competing offers are received, Lear shareholders will vote
on the Icahn offer on June 27th.
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