May 12th, 2009 - Los Angeles Times
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General Motors Corp.'s stock fell to lows not seen since the Great Depression on Tuesday as investors reacted to news that six top executives had sold the remainder of their holdings in the company.
As GM careens toward bankruptcy, the latest vote of no confidence in the most troubled of automakers pushed its shares as low as $1.09 in early trading, the lowest price since 1933. They closed down 29 cents, or 20%, at $1.15.
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California State Treasurer calls on US Treasury for help
May 14th, 2009 - bizjournals
California State Treasurer Bill Lockyer asked in a letter to U.S. Treasury Secretary Timothy Geithner to extend financial assistance for the nation’s most populous state and other financially strapped states and cities. Specifically...
Georgia auto dealers await word on closings
May 14th, 2009 - ajc
As General Motors and Chrysler prepare to shutter thousands of dealerships, car dealers from Georgia and across the nation are turning to Congress and the White House help them stay in business. "We're planning on visiting members of Congress...
Geithner Urges Electronic OTC Derivatives Trading
May 13th, 2009 - Bloomberg
May 13 (Bloomberg) -- Treasury Secretary Timothy Geithnerproposed requiring increased transparency in the over-the-counter derivatives market by making prices available oncentralized computer platforms.
GM, Chrysler to cut up to 3000 dealers -- sources
May 13th, 2009 - Reuters
* GM to terminate up to 2,000 U.S. dealers * Chrysler to drop up to 1,000 U.S. dealers * Notices could go out as early as Thursday (Adds comments from dealers, Chrysler CEO letter...
Top General Motors executives dump their shares at knockdown prices
May 12th, 2009 - guardian.co.uk
Six top executives at General Motors have sold their entire shareholdings in the stricken carmaker for a knockdown price of $315,000 as the Detroit-based company teeters on the brink of bankruptcy.
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