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GM will discontinue medium duty Chevrolet Kodiak and GMC Topkick
Posted on 08. Jun, 2009 by Zane Merva.
General Motors announced today that will will cease production of its medium-duty truck operations as of July 31st, 2009. After trying to find a buyer for the business and Kodiak/Topkick models- the company has decided to just call it quits.
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GM signs proposal to sell Saturn to Penske Automotive Group
Posted on 05. Jun, 2009 by Zane Merva.
General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand.
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GM signs agreement to sell HUMMER
Posted on 02. Jun, 2009 by Zane Merva.
General Motors Corp. (NYSE: GM), announced it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand. This transaction is the result of GM’s strategic review of the HUMMER brand and the company’s ongoing restructuring efforts.
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Full list of GM plant closures - 14 facilities affected - Michigan/Ohio bear brunt
Posted on 01. Jun, 2009 by Zane Merva.
General Motors Corp. (NYSE: GM) today announced details of its accelerated manufacturing plan to improve capacity utilization and flexibility for the New GM. GM also reaffirmed it will build a small car at one of its U.S. assembly plants on standby capacity status.
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US/Canadian Governments provide fast track to competitive future for “New GM”
Posted on 01. Jun, 2009 by Zane Merva.
Pending approvals, the New GM is expected to launch in about 60 to 90 days as a separate and independent company from the current GM (”GM”), with two distinct advantages: it will be built from only GM’s best brands and operations, and it will be supported by a stronger balance sheet due to a significantly lower debt burden and operating cost structure than before.
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GM officially files for bankruptcy
Posted on 01. Jun, 2009 by Zane Merva.
General Motors, often thought of as the cornerstone of US economy and pride of the free market, filed for bankruptcy protection this morning at 8am in New York City.
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Watch the General Motors bankruptcy press conference live at 12:15pm
Posted on 01. Jun, 2009 by Zane Merva.
Today at 12:15pm General Motor’s President Fritz Henderson will be holding a press conference to announce that the century-old automaker will file for US Government backed bankruptcy protection. We have the live stream for you to watch.
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GM pulls the plug on 1,124 under-performing dealerships
Posted on 15. May, 2009 by Zane Merva.
General Motors sent franchise termination letters to 1,124 of it’s dealers this morning in the first move of a plan to pare the automaker’s dealer network of 5,969 dealerships down to 3,600.
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GM loses $6-billion during the first quarter of 2009
Posted on 07. May, 2009 by Zane Merva.
General Motors released 2009 quarter one financial results this morning and despite being better than analysts expected- the downward slide continues. The company is reporting a quarterly loss of $6-billion amid sliding market share and a revenue stream that is only running at a trickle.
