Archive for 'Business'
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.
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Confidence is key- GM launches own customer protection plan
Posted on 31. Mar, 2009 by Zane Merva.
Just in: General Motors is launching “GM Total Confidence” to complete head to head with Ford and Hyundai.
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GM press briefing at 10am today- Watch it live here!
Posted on 31. Mar, 2009 by Zane Merva.
General Motors CEO, Fritz Henderson is scheduled to hold a press briefing to discuss his appointment, announcements made by President Obama, and aid to the auto industry today at 10am. We’ve got the live stream for you to check out.
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GM financials improving- will not need $2 billion of previously requested funding
Posted on 12. Mar, 2009 by Zane Merva.
General Motors has just announced that they will no longer need the $2 billion in government funding that they had previously requested for March. The good news comes in tangent with the announcement that GM Canada has ratified a competitive agreement with the CAW.
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GM’s light-duty 4.5L Duramax diesel on indefinite hold
Posted on 11. Mar, 2009 by Zane Merva.
The string of bad news continues out of General Motors. Today the company announced that the Duramax 4.5L V8 Diesel, planned for the 2010 Chevrolet Silverado and GMC Sierra 1500 will be scrapped indefinitely.
