GM's vast scale and complex network of partners make the ramifications of a bankruptcy highly unpredictable, especially given the uncertainty about the global economic conditions that pushed the auto industry to the breaking point in the first place. “The biggest difference ...Read More
The Obama administration signaled it is sticking with its promise to stay at arm's length from the carmakers in which the government owns stakes.
President Obama, on his Asian trip Wednesday, told Fox News, "We have specifically said that we are ...Read More
WASHINGTON (Reuters) - General Motors should focus on making money and repaying U.S. Treasury loans before turning to public markets to sell the taxpayer's stake in the automaker, a senior government official said.Ron Bloom, head of the Obama administration's autos ...Read More
WASHINGTON - The Washington Nationals have hired former major league manager Davey Johnson as a senior adviser. The Nationals made the announcement Wednesday. The 66-year-old Johnson will work with general manager Mike Rizzo. Washington led the majors with 103 losses. Johnson is ...Read More
While the Orlando Magic traded for a replacement when point guard Jameer Nelson went down last season, general manager Otis Smith said Wednesday he's not inclined to do so this time. Nelson underwent surgery Wednesday to repair torn cartilage in his ...Read More
WASHINGTON (Reuters) - The Obama administration's preference for robust electric car production will not influence its oversight of taxpayer equity in General Motors GM.UL and Chrysler, an administration official said. Ron Bloom, the head of the government task force that facilitated ...Read More
According to The Detroit News, General Motors has gone on record as suggesting that without state tax credits designed to keep 2,500 employees ensconced at its Detroit Renaissance Center headquarters, the automaker could pull out of Motown's skyline and into ...Read More
DETROIT, Nov 17 (Reuters) - General Motors Co [GM.UL] saidon Tuesday it will unveil the U.S. production version of itsChevrolet Cruze small sedan at the Los Angeles Auto Show inDecember. The Chevy Cruze small car, scheduled to be in U.S.showrooms in ...Read More
As if we needed more proof that America's politics are poisoned beyond belief, now we have Michael Steele, chairman of the Republican National Committee, pouncing gleefully upon news of General Motors Co.'s $1.2-billion third-quarter loss, in a harebrained attempt to ...Read More
Nov. 17 (Bloomberg) -- General Motors Co. Chief ExecutiveOfficer Fritz Henderson, buoyed by $50 billion in U.S.bankruptcy aid, slashed debt and operating costs withoutreturning to profit. His challenge now is to sell more cars. A 28 percent drop in GM’s U.S. ...Read More
And doomsday did not descend upon General Motors Co. or the Detroit automotive industry. That's why GM will begin repaying $8.1 billion in rescue loans to the U.S. and Canadian governments ahead of schedule, starting with $1.2 billion next month. That is ...Read More
General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount as early as 2010, five years ahead of schedule, CEO Fritz Henderson said Monday. The government ...Read More
VANCOUVER, British Columbia (AP) - An NHL general manager says Peter Forsberg is going to stay in Sweden this season. Mike Gillis of the Vancouver Canucks was considering signing the former Colorado star, but said he learned Monday that Forsberg wanted ...Read More
DETROIT-General Motors Co. reported a $1.15 billion loss for a shortened third quarter, providing the first evidence of the auto maker's improvement since emerging from bankruptcy protection. The company also confirmed plans to accelerate repayments to U.S. and Canadian governments, with ...Read More
Nov. 16 (Bloomberg) -- General Motors Co., signalingconfidence in its recovery from bankruptcy, said it generated$3.3 billion in cash in the third quarter and plans to startrepaying government loans early.
The biggest U.S. automaker said today it lost $1.15 billionafter its ...Read More
(DETROIT/WASHINGTON) — General Motors Co. says it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than previous quarters and a sign that the auto giant is starting to turn around. The company also says ...Read More
NEW YORK (CNNMoney.com) -- General Motors said better results will allow it to start repaying government loans sooner than expected, although the company continued to lose money in its first quarter since emerging from bankruptcy. The automaker said Monday it anticipates ...Read More
WASHINGTON (AP) - General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule, according to a person familiar ...Read More
General Motors will announce later today plans to repay the U.S. government some $6.7 billion in loans ahead of its initial due date of July 2015. The payments are expected to begin as early as next month, with $1 billion ...Read More
Nov. 16 (Bloomberg) -- General Motors Co., the largest U.S.automaker, will repay $6.7 billion of the $49.9 billion in aidit received from the federal government starting next month,more than five years sooner than required, a person familiarwith the company’s plans ...Read More
WASHINGTON—General Motors Co. will begin paying back $6.7 billion in U.S. government loans by the end of 2009 and could pay off that full amount by 2011, four years ahead of schedule, according to a person familiar with the matter. The ...Read More
