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Latest General Motors Corp. Stories

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2009-06-03 16:05:00

Bankruptcies at U.S. automakers Chrysler and General Motors Corp. will likely cost former executives at least part of their pension plans, the companies said. Chrysler has already demanded former executives, including the iconic Lee Iacocca, return or buy their company cars by May 31, The Detroit News reported Wednesday. The gesture is one step towards retrieving what could be big money. GM's former Chief Executive Officer Rick Wagoner is still, technically on the payroll, receiving $1 for...

2009-06-03 10:37:20

Sales of passenger cars and light trucks in the U.S. market dropped 33.7 percent in May compared with a year ago, Autodata Corp. reported Wednesday. U.S. vehicle sales a year ago stood at 1,397,033. In May, with Chrysler LLC in bankruptcy and General Motors Corp. on the cusp, sales tumbled to 925,824, Autodata said. GM, which filed for Chapter 11 protection Monday, sold 190,881 vehicles in the month, a 29 percent decline from the same period a year ago. Chrysler's sales of passenger cars and...

2009-06-03 07:43:49

Markets in Asia turned higher Wednesday, but European markets struggled to break even after a U.S. stock market rally faded in New York Tuesday. It's hard to know which market is leading and which market is following, but recent activity in the United States has left little doubt that U.S. markets recently have plowed the waters for everybody else. Confidence is growing after three months of gains on Wall Street, the bankruptcy of General Motors Corp. Monday has the potential to be more than...

2009-06-02 15:09:00

Industrial Machinery Company To Invest in Growth and Global Expansion of Premium Off-Road Vehicle Brand; Deal is Expected to Secure Over 3,000 U.S. Jobs DETROIT and SICHUAN, China, June 2 /PRNewswire/ -- Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong) and General Motors Corp. (GM), today confirmed details of their proposed transaction, pursuant to which, Tengzhong, a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a...

2009-06-02 14:11:02

Michigan municipalities are bracing for plant closings expected in the wake of General Motors Corp.'s bankruptcy filing, city and town officials said. Along with 8,900 individual jobs lost in the state, tax revenues will decline sharply and the call for social services should rise as part of the fallout that only counts GM-owned facilities, The Detroit News reported Tuesday. Others businesses, such as auto part suppliers and dealerships are also expected to close, the News said. Oakland...

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2009-06-02 15:15:00

Bankrupt U.S. auto giant General Motors Corp. signed a deal to sell its Hummer brand to a Chinese buyer, a source in touch with the Chinese government said. GM would not disclose name of the buyer or the price for the sale, which it said would close in September, CNNMoney.com reported. The New York Times reported that the Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. was the buyer that requested anonymity. The Chinese government vets international purchases over $100 million....

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2009-06-02 11:38:26

Ford Motor Co. said Tuesday it would increase U.S. production by 10,000 vehicles this quarter, an option unavailable to Chrysler LLC and General Motors Corp. While its rivals downsize in bankruptcy court, Ford could continue to increase its domestic market share as customers turn away from GM and Chrysler, The Detroit News reported. Ford has ample financial resources and has been very successful in growing its market share during this period, a government official told the News. However, a...

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2009-06-02 07:45:00

The impact of General Motors Corp. filing for bankruptcy could affect parts suppliers, state budgets and even homeowners, economists said. Most immediately, GM announced Monday that 14 plants would close and 21,000 union workers would lose their jobs. GM will also close 40 percent of its dealerships, reducing local tax revenues in thousands of communities. It means (California) Gov. Schwarzenegger has to make even more cuts, said Martin Weiss, president of Weiss Research. Small auto parts...

2009-06-02 06:39:52

The U.S. government is pushing for a surgical bankruptcy for General Motors Corp. with an emergence from court by July 10, court documents show. Bankruptcy Judge Robert Gerber in New York Monday granted General Motors Corp. permission to tap into $15 billion in federal funds, half the government's proposed funding, USA Today reported Tuesday. Gerber will rule on whether or not to release the second half of the funds on June 25. Meanwhile, GM Chairman Kent Kresa said, We have to get through...

2009-06-01 18:22:00

DETROIT, June 1 /PRNewswire/ -- GMAC Financial Services has been notified that the U.S. Bankruptcy Court has approved a motion presented by General Motors Corp (GM) that enables GMAC to conduct its direct operations with GM in the ordinary course. As previously stated, GMAC continues to conduct all of its operations, including offering automotive financing products and services to both GM and Chrysler dealers and customers. GMAC is a bank holding company with a newly appointed board of...


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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