Tag Archives: government
GM to provide cash advances to dealers for CARS rebates
Posted on 20. Aug, 2009 by Zane Merva.
This morning General Motors announced it would be providing cash advances to dealers equal to the amounts they are currently owed under the government run CARS rebate program. The advances will allow dealers to stay in business until the rebates are processed.
Continue Reading
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.
Continue Reading
A fresh start for the “new” General Motors
Posted on 10. Jul, 2009 by Zane Merva.
The new General Motors Company began operations today with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does.
Continue Reading
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.
Continue Reading
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.
Continue Reading
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.
Continue Reading
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.
Continue Reading
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.
Continue Reading
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.
