Tag Archives: bankruptcy
Special Attrition Program Helps GM Lower Employment Costs, Close Competitive Gap
Posted on 03. Aug, 2009 by Josh Merva.
In support of its goals to reinvent the company as a leaner, more cost-competitive company, General Motors Company today announced that more than 6,000 U.S. hourly workers participated in the company’s Special Attrition Program. This represents the total number of employees most of whom departed the company August 1, 2009.
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New GM Subsidiaries will include Delphi Components Operations and Global Steering Business
Posted on 03. Aug, 2009 by Josh Merva.
General Motors Company announced today that four U.S.-based Delphi components operations and Delphi’s global steering business will become part of two new, wholly-owned GM subsidiaries effective upon closing of the transaction. The acquisition will help GM to maintain continued uninterrupted supply to its global GM car and truck operations.
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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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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.
