Latest General Motors Corp. Stories

2009-04-28 13:44:19

The U.S. Treasury rejected two General Motors Corp. attempts to ensure that parts-supplier Delphi Corp. would keep parts flowing to the automaker. When GM accepted a emergency federal loan in January, it agreed the Treasury could veto company deals valued at $100 million or above. Delphi, a former GM subsidiary, has been under bankruptcy protection since 2005. GM had offered to increase payments to Delphi by $150 million. The company also proposed buying Delphi's steering division. But the...

2009-04-27 15:49:00

Seniors and Retirees Facing Loss of Pensions Come Together as President Obama Marks 100th Day WARREN, Mich., April 27 /PRNewswire-USNewswire/ -- Warren Mayor Jim Fouts will bring together many of the General Motors' small bondholders who stand to be financially hurt the most by the impending bankruptcy of the Fortune 500 Company at a City Hall press conference Wednesday, 11 am EST, April 29th, which marks President Obama's 100th Day in office. About a quarter of all GM bondholders are...

2009-04-24 13:43:12

Fiat is expected to sign a letter of intent to buy most of General Motors Corp.'s European subsidiaries Opel and Vauxhall, sources told Der Spiegel. The German magazine reported Friday that the Italian automaker's chief executive officer Sergio Marchionne, was expected to forward an offer for a majority stake in the companies. Opel and Vauxhall sell 1.5 million vehicles a year. Fiat, which includes Alfa Romeo and Lancia brands, sells 2.2 million cars a year. GM, once the largest carmaker in...

2009-04-24 08:20:22

Retired U.S autoworkers stand to lose tens of billions of dollars in pension and healthcare benefits in a bankruptcy filing, government officials said. The Pension Benefit Guaranty Corp., which insures pension plans, said General Motors Corp.'s pension would have a $20 billion shortfall if the plan was terminated in a bankruptcy court. The agency would cover $4 billion of the shortfall, The Washington Post reported Friday. Chrysler LLC would have a gap of about $9 billion with $2 billion of...

2009-04-23 11:47:06

General Motors Corp. will close most of its factories for up to nine weeks this summer, starting in mid-May, a source close to the company said. GM spokesman Thomas Pyden said no official word on extended summer shutdowns had been announced, the Detroit Free Press reported Thursday. Our intent is to share it with employee first, he said. Typically, auto factories shut down for two weeks in the summer, usually in July. But if we're making cars and nobody is buying "¦ it makes sense why...

2009-04-22 16:00:00

General Motors Corp. Chief Financial Officer Ray Young said Wednesday the U.S. automaker would not meet a $1 billion debt payment due June 1. The struggling company, which has a month and eight days to come up with a restructuring plan to secure additional emergency loans from the government, would either have a new deal with creditors lined up or would file for bankruptcy protection by the time the deadline comes around, he said, speaking to reporters in Dearborn, Mich., the Detroit Free...

2009-04-21 16:41:08

General Motors Corp. auto dealers need to prepare for the possibility of the U.S. automaker's bankruptcy, an attorney who represents auto dealers said. They are going to have to plan to operate without any expectation of when and if that money is going to come in the door, attorney Scott Silverman, a partner at McCarter & English in Massachusetts, told USA Today. GM Chief Executive Officer Fritz Henderson said last week that a bankruptcy filing was probable. In a prolonged slump, GM is...

2009-04-20 15:36:28

U.S. automaker General Motors Corp. said Monday it would cut 1,600 white-collar jobs over the next few days to help it qualify for government assistance. In an e-mail, GM's North American President Troy Clarke said the automaker was reinventing every aspect of our business, including our organizational size and structure to create a lean and agile company. Clarke said the company was going through very trying times "¦ but especially for those employees directly impacted by these...

2009-04-17 08:55:00

Plunkett Cooney to Host Media Call at 11:45 a.m. EDT to Discuss Chapter 11 Scenarios BLOOMFIELD HILLS, Mich., April 17 Conventional wisdom has General Motors Corp. filing for Chapter 11 bankruptcy in late spring or early summer, emerging from court supervision as a smaller but viable company in as little as two weeks, or two to four months at the outside. Both of these scenarios are exceedingly optimistic, according to bankruptcy experts at the law firm of Plunkett Cooney. "Bankruptcy may...

2009-04-14 07:27:33

The atmosphere at the New York auto show has shifted this year for troubled U.S. automakers General Motors Corp. and Chrysler LLC, some presenters said. What is normally a friendly coming out party for an ogling public has been turned by sometimes bitter give-and-take between presenters and their audiences, The New York Times reported Tuesday. Accountant Donald Han from New York asked a presenter next to an electric-powered Dodge Circuit, Why now? How come you've got to go nearly bankrupt...

Latest General Motors Corp. Reference Libraries

General Motors Headquarters, Detroit, Michigan
2014-04-13 09:20:18

General Motors Company (GM) is an American automobile manufacturer located in Detroit Michigan. They also control multinational manufacturers around the globe. They design, produce, market and distribute vehicles and parts, as well as selling financial services. GM has ten brands of vehicles produced in 37 countries. They include, Chevrolet, Buick, GMC, Cadillac, Opel, Holden, Vauxhall, Wuling, Baojun, Jie, Fang and UZDaewoo. GM does business with 157 different countries and employees...

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Word of the Day
  • A Roman unit of weight, 1⁄1728 of a pound.
  • A weight of four grains used in weighing gold and precious stones; a carat.
  • In anatomy, a formation suggesting a husk or pod.
  • The lowest unit in the Roman coinage, the twenty-fourth part of a solidus.
  • A coin of base silver of the Gothic and Lombard kings of Italy.
'Siliqua' comes from a Latin word meaning 'a pod.'