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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: General Motors

General Motors stories: 457 news summaries

81 - 100 of 457 Stories | << Prev 1 2 3 4 5 6 7 8 9 ... 23 Next >>

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GM Borrows Another $4B From Feds

Company to cut 3,400 more white-collar jobs amid restructuring

May 23, 09 6:09 AM CDT
(Newser) - General Motors has borrowed another $4 billion from the Treasury ahead of its June 1 deadline to restructure or face bankruptcy, the Wall Street Journal reports. A statement from the automakers said the loan, which brings the total borrowed to nearly $20 billion, is "to maintain adequate liquidity" during... More »

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General Motors • Treasury Department • restructuring • auto industry • auto bailout

 Ford Courts 
 GM, Chrysler 
 Customers 

Helps pay off their loans, trains dealers in 'conquests'

May 22, 09 12:25 PM CDT
(Newser) - With General Motors and Chrysler struggling, Ford is moving to pick off some of its rivals’ customers, the Detroit News reports. The firm is passing cash to its dealers to ease Chrysler owners’ loan payments—so they can pick up Fords. Ford may soon do the same for GM owners.... More »

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Chrysler • General Motors • Detroit • automaker • Ford • auto industry • Big Three

 Feds to Send GM 
 Into Bankruptcy 

Rejection of survival plan means GM may go into bankruptcy as Chrysler emerges

May 22, 09 2:12 AM CDT
(Newser) - The Obama administration is preparing to steer General Motors into bankruptcy next week, sources tell the Washington Post. The restructuring plan, which aims to shrink GM and turn it into a globally competitive automaker, will bring the company an extra $30 billion in federal loans, for a total of $45... More »

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Chrysler • bankruptcy • General Motors • auto industry • Obama administration • UAW

GM, UAW Cut Deal on Labor, Health Care

Tentative pact may
save struggling auto giant more than $1B

May 21, 09 1:44 PM CDT
(Newser) - Monitored by the Treasury department, General Motors and the United Auto Workers have reached a tentative deal to modify conditions of their labor contract and retiree health care trust, which could save the flatlining automaker more than $1 billion. Still, Chapter 11 bankruptcy remains likely for GM, and union reps... More »

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United Auto Workers • General Motors • Detroit • automaker • labor costs • health care trust • auto worker

(Newser) - Many Republicans won’t touch fuel economy issues, but not Sen. Orrin Hatch. He’s been an advocate for alternative-fuel vehicles for a decade, and yesterday got behind the wheel of the most muscular hybrid ever, reports Dana Milbank of the Washington Post. A company from Hatch’s native... More »

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China • Senate • General Motors • Utah • Orrin Hatch • hybrid car • Hummer • Hummer H3

 GMAC Gets 
 New $7B Bailout 

Treasury could double the injection as it moves closer to majority stakeholder

May 21, 09 7:19 AM CDT
(Newser) - The Treasury is prepared to inject another $7 billion into GMAC as the first stage in a new bailout that could double to $14 billion, putting the government on a trajectory to be the majority stakeholder in both GMAC and General Motors by year's end, the Wall Street Journal reports.... More »

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Chrysler • General Motors • bailout • GMAC • financial crisis • auto bailout

 Dealer Cuts Mean Deals 
 on Chrysler, GM Cars 

Closing dealership networks have just weeks to move massive inventory

May 18, 09 9:32 AM CDT
(AP) - At 789 Chrysler lots across America sit 44,000 potential bargains, cars and trucks that are stuck between shellshocked dealers and a troubled company that no longer wants their services. The dealers have just a few weeks to sell the Chryslers, Dodges, and Jeeps or risk losing thousands of dollars... More »

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Chrysler • Japan • General Motors • United States • auto industry • inventory

ANALYSIS


 Geithner's 
 Understaffed 
 Treasury 
 Is Stalled 

Geithner's undermanned department struggles to execute plans

May 18, 09 5:56 AM CDT
(Newser) - Nearly two months ago the Treasury announced it was booting Rick Wagoner as CEO of General Motors. But he's still technically on the payroll—because Treasury officials continue to debate whether he should receive the $20 million severance package he was promised. It's only one of many key decisions that... More »

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General Motors • Treasury Department • Rick Wagoner • Treasury secretary • Timothy Geithner • job vacancies

(Newser) - Hundreds of Chrysler dealers are reeling from notices that give them less than a month to close up shop, CBS News reports. "This was a sucker punch for my brother and I," said Rob Engel, who has been selling Chrysler vehicles in New Jersey since the Reagan presidency.... More »

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Chrysler • bankruptcy • General Motors • car dealers

MARKETS

 Oil, Banks Steal 63 From Dow 


May 15, 09 3:13 PM CDT
(Newser) - Markets were off today on falling oil prices and a poor showing from the financial industry, the Wall Street Journal reports. The S&P energy index fell 2.4% and Bank of America, Pfizer, and Wal-Mart also saw declines. General Motors, whose low share price no longer significantly affects markets,... More »

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stock market • NASDAQ • Bank of America • New York Stock Exchange • Dow Jones • General Motors • Pfizer • financial sector • S&P 500 • Wal-Mart • oil prices

UPDATED

 GM to Close 1,100 Dealerships  


May 15, 09 9:20 AM CDT
(Newser) - GM has sent termination notices to 1,100 of its 6,000 US dealerships as part of its plan to eventually shutter 42% of its retail network, CNN reports. The dealers have been notified that their contracts won't be extended next October, and some will shutter this year, a GM... More »

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cost cutting • General Motors • auto industry • dealership • financial crisis

(Newser) - African-American and Latino car dealers will likely take a big hit in the dealership closures announced by Chrysler and planned at GM, the Wall Street Journal reports. The minority dealerships, located mainly in urban areas, have faced stiff competition as business has moved increasingly to suburbia. “We're more... More »

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Chrysler • African Americans • General Motors • minority • Latinos • auto industry • car dealers • dealership • Jay-ZTV

 Chrysler Junks 789 Dealers 
 —25% of US Salesforce 

Move will increase profits, company says

May 14, 09 11:09 AM CDT
(Newser) - Chrysler plans to eliminate 25% of its US dealers by next month, the New York Times reports. The embattled automaker notified 789 today, citing the need to keep remaining franchises profitable. Chrysler filed a list of those dealerships in bankruptcy court, and a judge could decide to rescue them. General... More »

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Chrysler • bankruptcy • General Motors • automaker • car dealers • Jay-ZTV

MARKETS

 Drugs, Oil Push Dow Up 50 


May 12, 09 3:15 PM CDT
(Newser) - Financials dipped today as firms continued stock sell-offs to finance TARP repayments, but strong performance by drug and energy companies stabilized the market, the Wall Street Journal reports. Merck and Pfizer were up as much as 2% and 6%, respectively; oil got a boost from $60 barrels. The Dow was... More »

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NASDAQ • Merck • New York Stock Exchange • Dow Jones • General Motors • Pfizer • financial markets • S&P 500 • oil prices • Jay-ZTV

Bailed-Out GM to Take More Jobs Overseas

Cars sold here, built elsewhere to double amid taxpayer support

May 8, 09 6:37 AM CDT
(Newser) - General Motors is set to boost its overseas operations, nearly doubling the number of cars it builds outside the US but sells here—even though billions of government dollars are supporting the firm and its restructuring plans, the Washington Post reports. This puts the Obama administration in a tight position:... More »

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General Motors • outsourcing • automaker • job • Obama administration • auto bailout

 Foreign Bidders 
 See Opportunity 
 in Detroit Mess 

As GM, Chrysler spin off units in their wake, the global auto landscape shifts

May 7, 09 8:25 AM CDT
(Newser) - With Chrysler in bankruptcy and General Motors at the precipice, foreign companies are preparing bids for parts of the US auto industry, the Wall Street Journal reports. The result will be a broad global reshuffling as companies like Italy’s Fiat, France’s Renault, and even China’s Geely buy... More »

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Chrysler • General Motors • auto industry • Fiat • automobile • Nissan-Renault • Saab • Opel • Geely Automobile Holdings

 GM Loses $6B in 
 Q1, Burns $10.2B 

The ailing automaker looks no closer to avoiding bankruptcy, CEO says

May 7, 09 7:29 AM CDT
(Newser) - General Motors lost nearly $6 billion in the first quarter, hampered by bankruptcy fears and slumping global sales. The company spent $10.2 billion while revenue declined to $22.43 billion—47% down from the previous year. However, the loss of $5.98 billion, or $9.78 a share, was... More »

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bankruptcy • General Motors • Detroit • earnings reports • auto industry

Renault May Acquire Saturn; Chinese Firm Bids for Saab

GM courts foreign buyers in fire sale

May 6, 09 1:07 PM CDT
(Newser) - Renault is in talks with General Motors about acquiring its Saturn brand, the Wall Street Journal reports. Demonstrating the considerable foreign interest in GM divisions, China’s Geely Automobile Holdings has submitted a bid for Saab. GM is looking to cut unprofitable units ahead of a June 1 restructuring deadline.... More »

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General Motors • Nissan • Saturn • auto industry • Renault • Saab • Geely Automobile Holdings

Seeking Sales Bump,
GM Targets Middle East

New models will be introduced soon

May 4, 09 10:17 AM CDT
(Newser) - General Motors hopes to rebound from a 19% first-quarter drop in Middle East sales by introducing new models and helping buyers with down payments, Reuters reports. "There are a lot of people who walk into showrooms who aren't able to buy because they can't get financing," says the... More »

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Middle East • General Motors • Chevrolet • auto industry • auto sales • Hummer • automobile

ANALYSIS

Chrysler Downfall Gives Obama Leverage With GM

President has already shown he'll play hardball to resurrect a sputtering automaker

May 2, 09 2:24 PM CDT
(Newser) - Chrysler’s spiral into bankruptcy may give the Obama administration leverage in drastically reshaping General Motors, David E. Sanger and Bill Vlasic write in the New York Times. GM bondholders now know Obama isn't kidding about bankruptcy court, and could fear being stuck with paltry court payouts. Obama's offer of... More »

MORE ABOUT:
Barack Obama • Chrysler • bankruptcy • General Motors • Rahm Emanuel • Obama administration

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