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Latest General Motors Corp. Stories

2009-06-18 10:46:31

General Motors Corp. could emerge from U.S. bankruptcy proceedings ahead of schedule, a restructuring expert said. The original estimate was for GM to emerge within 90 days of filing, the Detroit Free Press reported Thursday. Brad Coulter of O'Keefe & Associates said the process can go pretty quickly, if no significant objections arise. GM Chief Executive Officer Frederick Fritz Henderson, meanwhile, said the emergence could be sooner than expected. The biggest challenge could come from...

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2009-06-16 08:41:03

General Motors Corp. said Tuesday it had signed an agreement to sell its ailing Swedish auto producer Saab to automaker Koenigsegg, pending bank financing. The deal is contingent on $600 million in financing from the European Investment Bank that would be guaranteed by the Swedish government. Saab sold 93,000 cars in 2008 and filed to restructure itself Feb. 20. It needs about $1 billion to modernize its operations, The New York Times reported Tuesday. The deal includes a consortium of...

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2009-06-15 08:15:00

An unlikely merger between U.S. auto giants General Motors Corp. and Chrysler LLC was seen mostly as a way to raise capital from banks, court records show. Chrysler consultant Robert Manzo at Capstone Advisory Group last year had concluded GM had more to offer the company than Fiat, Manzo said in U.S. Bankruptcy Court in New York. But, GM adviser William Repko said GM viewed a merger as a way to convince banks to free up more cash for GM during a slump, the Detroit Free Press reported...

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2009-06-12 10:33:29

General Motors Corp. Chief Executive Officer Frederick Fritz Henderson said politics would not sway the decision of which automobile plants to close. We just have to run our process, Henderson said, the Detroit Free Press reported Friday. The company's process for choosing which plants would remain in production and which would not came under increased scrutiny after it was learned GM decided to keep a parts depot in Massachusetts open after Henderson spoke with Chairman of the House...

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2009-06-11 07:20:00

The U.S. government's strategy for overhauling General Motors Corp. includes a shakeup of GM's corporate culture, a top White House adviser said. Addressing cultural issues is just as fundamental to our assignment as addressing the balance sheet or financing, said Steven Rattner who leads the automotive task force, The New York Times reported Thursday. With its insular corporate culture, GM has been kicking problems down the road for a long time, said Ron Bloom, who is part of the Treasury's...

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2009-06-09 12:01:06

Bankrupt U.S. automaker General Motors Corp. said former AT&T Chief Executive Officer Edward Whitacre Jr. would take over as the company's new chairman. Interim Chairman Kent Kresa would continue to serve on the board, but six other board members would step aside while the company is in bankruptcy, The New York Times reported Tuesday. Four board members would be retained, as would Chief Executive Officer Frederick Fritz Henderson, the company said. Previous Chairman and CEO Rick Wagoner...

2009-06-05 15:53:31

U.S. markets closed mixed Friday after General Motors Corp. struck a deal to sell Saturn to Penske Automotive Group. GM said the deal would rescue 13,000 jobs and more than 350 dealerships threatened by GM's bankruptcy filing. Markets got off to a slow start after the Department of Labor said the unemployment rate jumped 0.5 percentage points to 9.4 percent in May. The department said the country has lost 7 million jobs lost since December 2007. By close, the Dow Jones industrial average...

2009-06-05 12:28:06

U.S. markets recovered from early losses Friday after General Motors Corp. struck a deal to sell Saturn to Penske Automotive Group. Terms of the deal were not disclosed, but GM said the deal would rescue 13,000 jobs and more than 350 dealerships, threatened by GM's bankruptcy filing. Markets got off to a slow start after the Department of Labor said the unemployment rate jumped 0.5 percentage points to 9.4 percent in May. The department said the country has lost 7 million jobs lost since...

2009-06-05 09:30:00

Transaction would save more than 13,000 jobs; preserves renowned brand and retail network DETROIT, June 5 /PRNewswire/ -- General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand. The proposed transaction is part of GM's...

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2009-06-05 09:15:29

Auto dealership owner Rodger Penske is closing in on a deal to buy the Saturn brand from U.S. automaker General Motors Corp., sources close to the deal said. Penske, a former race car driver, is an iconic figure in Detroit who organized the city's Super Bowl event and a downtown revitalization program. The Penske Automotive Group Inc. is the nation's second largest auto retailer, the Detroit Free Press reported Friday. GM is in bankruptcy court and looking to sell or cancel out at least four...


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
endocarp
  • The hard inner (usually woody) layer of the pericarp of some fruits (as peaches or plums or cherries or olives) that contains the seed.
This word comes from the Greek 'endon,' in, within, plus the Greek 'kardia,' heart.
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