Latest General Motors Corp. Stories

2009-02-16 19:32:50

General Motors Corp. Monday was pushing autoworker union negotiators for concessions on retiree healthcare benefits, The New York Times reported. GM and Chrysler LLC have until Tuesday to present the U.S. Treasury Department with restructuring plans aimed at keeping government rescue funds negotiated late last year. The plans are expected to call for job reductions, plant closures and union benefit reductions, the Detroit Free Press reported Sunday. Administration officials will have until...

2009-02-15 22:37:01

President Barack Obama will not name a single car czar but will rely on senior advisers to guide the U.S. auto industry recovery, a White House source said. Citing an administration source, The New York Times reported Sunday night that Obama would have his most senior economic advisers -- Treasury Secretary Timothy Geithner, and National Economic Council Chairman Lawrence Summers -- oversee a White House panel charged with the task of overhauling General Motors Corp. and Chrysler LLC. The...

2009-02-15 10:13:16

Two U.S. automakers are preparing to submit to the Obama administration restructuring plans aimed at keeping government bailout funds, officials said. General Motors Corp. and Chrysler LLC will submit plans to cut costs, which are expected to contain a mix of job reductions, plant closures and union benefit reductions, The Detroit Free Press reported Sunday. After the Obama administration gets the report Tuesday, White House officials will have until March 31 to decide whether General Motors...

2009-02-12 14:50:50

General Motors Corp. bondholders are demanding a return on bonds that may drive GM into bankruptcy, sources said. GM is negotiating to secure a debt exchange to reduce its unsecured debt to $9.2 billion, The Detroit News reported Thursday. However, bondholders are seeking 50 cents on the dollar while the company's goal is 30 cents on the dollar. GM is asking bondholders to forgive billions in debt. But the bondholders say they will sacrifice only an amount equal to concessions given by the...

2009-02-10 14:39:29

U.S. auto giant General Motors Corp. said Tuesday it would cut 10,000 salaried positions to adjust to a prolonged sales slump. The automaker is hunkering down for a year in which domestic auto sales are predicted to decline to about 10.5 million vehicles. The company is also pushing to assemble a financial viability plan by Feb. 17, one of the terms stipulated in a $13.4 billion loan agreement with the federal government. The job cuts amount to 14 percent of its salaried workforce, The Wall...

2009-02-07 15:43:23

General Motors Corp. must close plants and cut more jobs as part of the cost-cutting plans it and Chrysler LLC are to submit to the U.S. Treasury, experts say. The plan is to be submitted to federal officials in just more than a week, the Detroit Free Press reported Saturday. The decision has been made that they can just as well deal with their autoworkers and wages and benefits outside of bankruptcy, said John Jerome, a bankruptcy attorney and partner at Saul Ewing LLP. It may come to a...

2009-02-06 19:08:40

U.S. officials have hired two law firms with bankruptcy expertise to advise on the restructuring of General Motors Corp. and Chrysler LLC, the companies said. The U.S. Treasury engaged Cadwalader, Wickersham & Taft LLP in New York and Sonnenschein Nath & Rosenthal LLP in Chicago, representatives for the companies said. The development indicates that bankruptcy remains a possibility for GM and Chrysler, the Detroit Free Press reported Friday. The automakers are to receive $17.4 billion...

2009-02-03 14:50:42

U.S. automaker General Motors Corp. said it would offer job buyout plans to 62,000 hourly workers in an attempt to trim operating costs in a withering economy. The deal, although less handsome than one Chrysler LLC offered workers Monday, is similar to Chrysler's move, which applied to 27,000 U.S. workers, CNNMoney.com reported Tuesday. With a program that starts Friday, GM is offering workers that retire early $20,000 plus a voucher that can be used for purchase of a GM car worth $25,000....

2009-01-26 10:50:00

LANCASTER, Pa., Jan. 26 /PRNewswire/ -- A notification program began today, as ordered by the Court of Common Pleas of Lancaster County, to alert those who bought certain new GM vehicles from Pennsylvania GM Dealers about a proposed class action settlement involving GM's marketing programs. The case is about GM adding 1% of the Manufacturer's Suggested Retail Price ("MSRP") to the invoice for certain new vehicles it sold to its dealers, as part of their "Marketing Initiative" programs. The...

2009-01-23 14:23:00

Interactive Game Turns BURN NOTICE Fans into Spies with Seven New Action-Packed Video-Based Missions NEW YORK, Jan. 23 /PRNewswire/ -- USA Network announced today that its digital team will continue its aggressive push into the online gaming world with the launch of COVERT OPS 2.0, an alternate reality game (www.burnnoticeops.com) themed to the #1 scripted series on cable, BURN NOTICE. Developed in conjunction with the show's creator Matt Nix, USA Network is once again partnering with GM's...

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 murmuring sound; a rushing or whistling sound, like that of the wind; a deep sigh.
  • A gentle breeze; a waft; a breath.
  • Any rumor that engages general attention.
  • A cant or whining mode of speaking, especially in preaching or praying; the chant or recitative characteristic of the old Presbyterians in Scotland.
  • To make a rushing, whistling, or sighing sound; emit a hollow murmur; murmur or sigh like the wind.
  • To breathe in or as in sleep.
  • To utter in a whining or monotonous tone.
According to the OED, from the 16th century, this word is 'almost exclusively Scots and northern dialect until adopted in general literary use in the 19th.'