Archive for 'Business'
Auditors concerned General Motors may not survive
Posted on 05. Mar, 2009 by Zane Merva.
Auditors hired by General Motors (GM) have expressed “going concern” about the company’s ability to survive without entering bankruptcy. GM executives say the report “was not unexpected”. We’ve got a run-down of the situation and GM’s official statement regarding the report.
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GM will invest $250-million into Flint plant for Volt/Cruze engine production
Posted on 02. Mar, 2009 by Zane Merva.
General Motors is officially confirming that the 1.4L four-cylinder engine that will power the Chevy Cruze and extend the range of the anticipated Volt will be built in Flint, Michigan. The company expects to invest $250-million into the facility which will begin manufacturing in December of 2010
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GM abandons high-performance vehicles and operations
Posted on 19. Feb, 2009 by Zane Merva.
GM is shuttering its high-performance vehicle development unit and “re-deploying” its highly specialized engineers to other parts of the company. The move comes as the company sets in motion an aggressive plan to keep the company alive. “All high-performance projects are on indefinite hold”
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General Motors updates government loan plan
Posted on 19. Feb, 2009 by Zane Merva.
Tuesday, General Motors submitted their revised viability plan as part of the US government backed loan program designed to prevent the automaker from plunging into bankruptcy. We take a look at the plan’s key points and provide a copy of the plan so you can read it yourself.
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Bob Lutz to retire from General Motors
Posted on 09. Feb, 2009 by Zane Merva.
In a statement released today, General Motors CEO Rick Wagoner announced that Vice Chairman and product development guru Bob Lutz would move to an advisory role as of April 1st and completely retire at the end of 2009.
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GM releases “plan of action” to get cities ready for plug-in vehicles
Posted on 03. Feb, 2009 by Zane Merva.
General Motors is working with the city of San Francisco and metropolitan areas like Washington, D.C. to lay a road map towards building the necessary infrastructure that electric vehicles like the Chevy Volt will need to recharge while away from home
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GM sold 8.35 million vehicles globally in 2008, down 11%
Posted on 22. Jan, 2009 by Zane Merva.
“Compared with 2007, GM’s total sales were down 11 percent, reflecting continuing global economic pressures that include tightening credit, falling commodities prices and lack of GDP growth.”
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GM To Offer Reduced Rate Financing On Some 2008/2009 Vehicles
Posted on 30. Dec, 2008 by Zane Merva.
GM today announced new reduced rate financing as low as 0% APR for up to 60 months on select new cars and trucks. The reduced rate financing is available to qualified buyers today through January 5, 2009 on many 2008 and select 2009MY vehicles (see list below). Of note, many of the vehicles listed below have stackable bonus cash and/or dealer cash ranging from $500 to $4,250.
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GM Takes Out Ad To Convey Commitment To The American People
Posted on 17. Dec, 2008 by Zane Merva.
To help combat the negative publicity surrounding the bailout of the US Auto Industry- General Motors has taken out a text ad in Automotive News. We’ve got the transcript.
