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Money Minute: Ciul, General Motors, Linens
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Mark Hamrick:AP Money Minute. Looking for a new search engine?Cuil,spelled C, U, I, L, is the latest to offer up answers.Backed by $33 million of venture capital, the search enginebegan processing requests for the first time Monday.Cuil is the brainchild of former Googleemployees. Cuil searchindex spans 120 billion web pages.
General Motorswill slash production by another 117,000vehicles, citing continued weakness in consumer demandfor pickups and SUVs. GM says the cutswill come by eliminating 1 shift each at its Moraine,Ohio and Shreveport, LA plants.Production cuts will increase the total number to just under300,000 units. GM officials had hopedto drop this year.
Bankrupt retailer Linens 'n Thingswill close fewer stores than originally expected.Home furnishings at the bedding retailer willclose only 57 stores during the latest part of its restructuring.It originally planned to close 87.Overall,Linens N' Things will shutter 177stores around the country. I'm Mark Hamrickwith AP Money Minute.