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Latest General Motors Chapter 11 reorganization Stories

2014-09-04 08:21:22

DETROIT, Sept. 4, 2014 /PRNewswire/ -- General Motors Co. (NYSE: GM) and General Motors Financial Company, Inc., (GM Financial) announced today they have entered into a support agreement, reaffirming the critical role GM Financial plays in GM's success. The agreement provides for leverage limits and liquidity support to GM Financial if needed, as well as other general terms of support. Under the terms of the agreement, as GM Financial expands its product portfolio and grows its...

2014-07-30 12:21:27

CORPUS CHRISTI, Texas, July 30, 2014 /PRNewswire/ -- Yesterday, Texas lawyer Bob Hilliard, one of the nation's key players in pursuing claims against General Motors for deaths and injuries caused by faulty ignition switches, filed a lawsuit on behalf of 658 individuals who were injured or killed in GM's defective vehicles. Mr. Hilliard's lawsuit is filed in the United States Southern District Court of New York where the General Motors, LLC Ignition Switch Multi District Litigation...

2014-06-05 23:13:06

One family settling with General Motors over the death of their daughter a month prior to the GM admission over faulty ignition switches, has decided to refile their lawsuit, alleging GM committed perjury and concealed evidence. LawyersandSettlements.com revisits the case with the family’s attorney, Lance Cooper, for further perspective. Detroit, MI (PRWEB) June 05, 2014 When the engine and vital drivetrain systems of a 2005 GM-manufactured Chevrolet Cobalt suddenly shut down in...

2014-06-03 20:20:11

CORPUS CHRISTI, Texas, June 3, 2014 /PRNewswire/ -- As the public awaits answers promised in GM's "independent" internal investigation into the fatal ignition switch recall, attorneys handling injury and death cases related to the defective vehicles claim that the report by Anton Valukas will be perverted by Valukas' deep ties to the company and should be dismissed as a self-serving investigation by GM's own lawyer. "This is a case of the fox guarding the hen house," lead attorney...

2014-04-25 20:20:20

CORPUS CHRISTI, Texas, April 25, 2014 /PRNewswire/ -- GM CEO Mary Barra has announced that the company expects recommendations in early June from victim compensation expert Kenneth Feinberg regarding the recent recall of 2.5 million vehicles with defective ignitions.(1) This could pave the way for a concrete plan for compensating victims who were seriously injured or killed in crashes involving the defective vehicles, which have been linked to at least 31 accidents and 303 deaths.(2)...

2014-02-10 04:20:08

AUBURN HILLS, Mich., Feb. 10, 2014 /PRNewswire/ -- Chrysler Group LLC ("Chrysler Group") announced today the closing of its previously announced offering of secured senior debt securities, raising approximately $3.0 billion in net proceeds; and senior secured term loan facilities, raising approximately $2.0 billion in net proceeds. Chrysler Group applied the proceeds of the debt offering to prepay all amounts outstanding, including accrued and unpaid interest, of approximately $5.0...

2011-01-20 07:00:00

DETROIT, Jan. 20, 2011 /PRNewswire/ -- General Motors today named Mary Barra senior vice president, Global Product Development, to lead the design, engineering, program management and quality of vehicles for the company's 11 brands around the world. "Mary will bring a fresh perspective to the critically important job of developing vehicles that delight global customers," said Dan Akerson, GM Chairman and CEO. "Her broad experience in engineering, manufacturing and staff functions,...

2011-01-19 11:01:00

DETROIT, Jan. 19, 2011 /PRNewswire/ -- In a move to bring greater focus and urgency to developing leading edge technology for all General Motors vehicles, the company today named Thomas G. Stephens its new Global Chief Technology Officer (CTO). "Customers today expect and deserve the very best technology from their GM vehicles," said GM Chairman and CEO Dan Akerson. "Tom will make sure that GM technology keeps up with our customers and keeps ahead of our competitors." The new CTO...


Word of the Day
vermicular
  • Like a worm in form or movement; vermiform; tortuous or sinuous; also, writhing or wriggling.
  • Like the track or trace of a worm; appearing as if worm-eaten; vermiculate.
  • Marked with fine, close-set, wavy or tortuous lines of color; vermiculated.
  • A form of rusticated masonry which is so wrought as to appear thickly indented with worm-tracks.
This word ultimately comes from the Latin 'vermis,' worm.
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