Skip to: Content
Skip to: Site Navigation
Skip to: Search

October 15, 2008 5:19:14 PM CDT

Learn about Newser Points »

Stories related to: General Motors

Stories

Stories 1 - 20 of 149

1 2 3 4 5 ... 8 Next >>
  • October 2008

    • GM Calls for Help

      Reuters  |  Oct 14, 08 12:07 PM CDT

      GM Calls for Help

      (Newser) - General Motors is not thinking of filing for bankruptcy, Reuters reports. Instead, an exec said, "There is a strong need for coordinated federal action" to weather the economic crisis as US auto sales slide. Filing for bankruptcy "would not benefit our customers, our dealers, or our employees," she noted. More »

      Tags

      Financial Crisis  • bailout  • auto industry  • General Motors  • Detroit  • auto sales  • US automakers  • loan

    • Ford Put Brakes on GM Merger Talks

      Wall Street Journal  |  Oct 11, 08 5:34 PM CDT

      Ford Put Brakes on GM Merger Talks

      (Newser) - Ford rejected merger overtures from GM earlier this year and decided to ride out its financial issues alone, the Wall Street Journal reports. The GM-Ford talks were “very loose and preliminary, more exploratory in nature than anything else,” a source said. Both companies have denied bankruptcy rumors, but credit rating agencies and analysts have raised concerns about their high rate of spending. More »

      Tags

      General Motors  • Detroit  • Ford  • Chrysler  • bankruptcy  • auto sales  • Cerberus Capital Management  • Alan Mulally

    • GM/Chrysler Merger 'Too Horrible to Contemplate'

      Detroit Free Press  |  Oct 11, 08 1:31 PM CDT

      GM/Chrysler Merger 'Too Horrible to Contemplate'

      (Newser) - GM and Chrysler are indeed seriously discussing a merger, sources tell Tom Walsh of the Detroit Free Press , which just proves “how desperately some people want to exit the automobile business.” Both companies are already too big—put them together and they’d be “way, way, way” too big, leading to a mass of layoffs and plant closings “too horrible to contemplate.”   More »

      Tags

      auto industry  • General Motors  • mergers and acquisitions  • Chrysler

    • GM, Chrysler Deep Into Merger Talks

      New York Times  |  Oct 10, 08 9:55 PM CDT

      GM, Chrysler Deep Into Merger Talks

      (Newser) - GM and Chrysler are quietly seeking a merger deal that would create the world's largest car maker and reshape the auto industry. Talks between GM and Cerebrus Capital Management, which owns Chrysler, have a 50% chance of succeeding, sources tell the New York Times . Other sources say the deal has stalled, but both sides are hungry to merge and would act quickly if markets stabilize, the Wall Street Journal reports. More »

      Tags

      General Motors  • Chrysler  • merger

    • In Crisis, Wheels Coming Off for Detroit Automakers

      Washington Post  |  Oct 10, 08 9:19 AM CDT

      In Crisis, Wheels Coming Off for Detroit Automakers

      (Newser) - The situation in Detroit looked bleak before the current economic crisis; now, it looks apocalyptic, the Washington Post reports. As GM’s stock fell 31% yesterday. Adjust for inflation, and the company is worth far less now than it was after the 1929 crash. “It’s devastating,” said Michigan Gov. Jennifer Granholm. “Companies that are already slammed by globalization are being slammed by the credit crunch.” More »

      Tags

      credit crisis  • auto industry  • General Motors  • Detroit  • Ford  • Chrysler

    • Dow Falls 678 to Sub-9,000 Close

      MarketWatch  |  Oct 9, 08 3:32 PM CDT

      Dow Falls 678 to Sub-9,000 Close

      (Newser) - Stocks plunged in the last hours of trading today as a number of government moves did little to shore up investors' confidence, MarketWatch reports. The Dow’s losses accelerated sharply after it dropped below the psychological threshold of 9,000 points. It closed down 678.91 at 8,579.19; the Nasdaq lost 95.21, closing at 1,645.12, and the S&P 500 fell 75.02 to 909.92. More »

      Tags

      Financial Crisis  • Dow Jones  • S&P 500  • Nasdaq  • General Motors  • Ford  • AIG  • Wachovia  • financial stocks  • Treasury

    • Now Brace for Short-Sellers

      New York Times  |  Oct 8, 08 6:01 AM CDT

      Now Brace for Short-Sellers

      (Newser) - The controversial three-week ban on short-selling financial stocks ends at midnight tonight and analysts are uncertain about the impact on an already-traumatized Wall Street. Financial shares have plunged 23% since the ban was imposed, suggesting short-selling might not have played as large a role as suspected in earlier declines, reports the New York Times . More »

    • GM May Sell Detroit Home Base

      Detroit News  |  Oct 7, 08 4:46 PM CDT

      GM May Sell Detroit Home Base

      (Newser) - General Motors will ask to borrow $500 million from pension funds for Detroit city employees to refinance its headquarters, the Renaissance Center, the News reports. The firm will make a pitch to the police and fire retirement system Thursday; GM will consider selling the landmark and leasing office space inside if it can’t get the funds. No matter what, GM said, it will not leave Detroit. More »

      Tags

      General Motors  • Detroit  • mortgage  • real estate  • investment

  • September 2008

    • Bush OKs $25B for Car Giants

      Wall Street Journal  |  Sep 30, 08 7:26 PM CDT

      Bush OKs $25B for Car Giants

      (Newser) - President Bush today approved the $25 billion in low-interest loans aimed at helping US automakers in their transition to building more fuel-efficient vehicles, the Wall Street Journal reports. The industry long pushed for the package, estimating the total cost of the makeover at $100 billion. It’s now up the Energy Department to set eligibility guidelines, with lawmakers hoping funds can be available by mid-2009. More »

      Tags

      auto industry  • General Motors  • Ford  • Chrysler  • fuel efficiency

    • House OKs $25B Detroit Rescue

      Detroit Free Press  |  Sep 25, 08 3:29 AM CDT

      House OKs $25B Detroit Rescue

      (Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers cheered the news, saying it would save thousands of jobs. More »

      Tags

      bailout  • auto industry  • General Motors  • Detroit  • Ford  • Michigan  • Chrysler  • fuel efficiency  • automaker  • federal loans  • rescue package

    • Auto Giants Press Congress for $25B Loan

      Detroit Free Press  |  Sep 18, 08 9:43 AM CDT

      Auto Giants Press Congress for $25B Loan

      (Newser) - The CEOs of US auto giants seem to have convinced some in Congress they, too, need billions in federal loans, the Detroit Free Press reports, though it’s uncertain if they’ll get the $25 billion they’re asking for. High oil and commodity prices and tightened credit threaten jobs in an already ailing industry, the heads of General Motors, Ford, and Chrysler told lawmakers yesterday. More »

      Tags

      bailout  • auto industry  • General Motors  • Ford  • Chrysler  • lobbying  • loan  • federal loans  • Big Three  • jobs

    • Volt's Looks Kill Some GM Buzz

      CNNMoney  |  Sep 16, 08 1:58 PM CDT

      Volt's Looks Kill Some GM Buzz

      (Newser) - GM offered its first official look today at the plug-in Chevrolet Volt, CNNMoney reports, the electric car slated to go on sale in 2010. Its tame appearance drew the ire of gearheads hoping it would look more like the futuristic concept version. "A lot of people are saying they're very disappointed and 'take me off the [waiting] list,' " said one blogger.