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Latest General Motors Corp. Stories

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2009-07-12 00:36:13

General Motors Corp. promises the slimming down process, as it tries to recover its position in the U.S. auto industry, will include its top management. It's a very painful process, Chief Executive Officer Fritz Henderson told The New York Times. We don't have a lot of bad executives. We just have too many of them. Henderson said in an interview Friday 400 of the 1,300 top executive jobs will be cut through resignation or retirement. In recent years, thousands of GM hourly workers, foremen...

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2009-07-10 22:45:00

General Motors Corp. is discussing a possible partnership with eBay that would allow dealers to list new cars on the auction Web site, officials said. Rob Chesney, vice president of eBay Motors and Marketplaces, told The New York Times no deal is in place. In its initial statement Friday, GM suggested the program was ready for testing by dealers. We hope to support GM's new company and vision going forward, Chesney said. We are excited about a potential new adventure that supports GM's...

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2009-07-10 10:55:11

General Motors Corp. vowed it would focus on customers after selling a majority of the company to the U.S. government Friday morning. Papers were signed at 6:30 a.m. at the offices of Weil, Gotshal & Manges that give the government 61 percent of the company with lesser portions owned by the Canadian government and the United Auto Workers union. Bondholders will also own a share, The New York Times reported. At a press conference, Chief Executive Officer Frederick Fritz Henderson said, the...

5c79a68b7911ab832ef4421010d492ef1
2009-07-10 07:35:00

General Motors Corp. completed its race through bankruptcy Friday morning, signing a contract with the U.S. government, a source close to the deal said. Papers were signed at 6:30 a.m. at the offices of Weil, Gotshal & Manges that give the government 61 percent of the company with lesser portions owned by the Canadian government and the United Auto Workers union. Bondholders will also own a share, The New York Times reported. The company will be temporarily named the Vehicle Acquisition...

4e2e5b8d54375a54fcb432ae91fdb5371
2009-07-09 13:03:57

U.S. auto dealers praised a House initiative that would mean life support to more than 3,000 businesses cut out of the picture by bankrupt automakers. General Motors Corp. intends to cut 1,300 dealerships, while Chrysler has already closed 789 retail outlets. In addition, GM expects about 1,200 dealerships to exit the business on their own. Both companies have had their plans approved in bankruptcy court from which Chrysler emerged with a sale of its assets to Fiat. That did not end the...

2009-07-08 14:21:02

The U.S. House Appropriations Committee agreed to a measure that would force General Motors Corp. and Chrysler LLC to keep auto dealerships open. The automakers have attempted to sever connections with about 3,000 auto dealers in their bankruptcy proceedings. GM has plans to cancel contracts with nearly 1,400 dealerships, while Chrysler closed 789 dealerships last week as part of its restructuring plans. The measure, which would overturn the closures, was approved as an amendment to the...

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2009-07-07 13:00:32

Two groups objecting to General Motors Corp.'s bankruptcy plan have filed appeals in New York that could temporarily derail GM's sprint to sell its assets. GM filed for bankruptcy June 1 and was granted permission Sunday to sell its good assets in a restructuring plan that gives large shares of the company to the U.S. and Canadian governments and to the United Auto Workers union. Bankruptcy Judge Robert Gerber scheduled a hearing for 7 p.m. Tuesday to hear arguments on the appeals filed by...

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2009-07-06 12:41:16

U.S. auto giant General Motors Corp. said it would conduct a sale of its valuable assets by the end of the week. U.S. Bankruptcy Court Judge Robert Gerber Sunday approved the sale of General Motors Corp. to salvage the company in the midst of a severe slump. Bankruptcy courts have the power to authorize sales of assets at a time when there still is value to preserve -- to prevent the death of the patient on the operating table, Gerber wrote in a 95-page opinion, The New York Times reported...

79377d09118da0a85d0c04b856db19f31
2009-07-06 09:15:00

U.S. Bankruptcy Court Judge Robert Gerber approved the sale of General Motors Corp. to salvage the company in the midst of a severe slump. Bankruptcy courts have the power to authorize sales of assets at a time when there still is value to preserve -- to prevent the death of the patient on the operating table, Gerber wrote in a 95-page opinion, The New York Times reported Monday. Gerber said GM could proceed with the sale despite more than 850 objections to the restructuring plan filed in...

2009-07-03 08:54:06

An attorney representing General Motors Corp. bondholders told U.S. Bankruptcy Court Judge Robert Gerber the government was bluffing with a July 10 deadline. Representing the U.S. Treasury, Harry Wilson had told the judge that GM needed to complete a sale of its good assets by July 10 or the government would back away from its $30 billion commitment to purchase 61 percent of the company. But attorney Michael Richman said the government had made a conscious, strategic decision, to avoid a...


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
call-note
  • The call or cry of a bird or other animal to its mate or its young.
'Call-note' is newer than 'bird-call,' which originally referred to 'an instrument for imitating the note of birds' but now also refers to 'the song or cry of a bird.'
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