GM

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General Motors decides not to sell Opel

http://www.motorward.com

“GM will soon present its restructuring plan to Germany and other governments and hopes for its favorable consideration,” said Fritz Henderson, president and CEO. “We understand the complexity and length of this issue has been draining for all involved. However, from the outset, our goal has been to secure the best long term solution for our customers, employee, suppliers, and dealers, which is reflected in the decision reached today. This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term future.”

On a preliminary basis, the GM plan entails total restructuring expenses of about € 3 billion, significantly lower than all bids submitted as part of the investor solicitation. GM will work with all European labor unions to develop a plan for meaningful contributions to Opel’s restructuring. While Opel continues to outperform against its viability plan assumptions and immediate liquidity is stable, time is of the essence.

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Created by Dr Who 3 years 36 weeks ago – Made popular 3 years 36 weeks ago

Category: WorldNews   Tags:
2

GM Has Buyer for Hummer

http://www.autoobserver.com

DETROIT -- General Motors announced it has signed an agreement to sell Hummer, though it hasn't yet revealed who the buyer is or how much GM will receive for the SUV company. GM said it expects to close the deal by the end of September, pending various approvals. The sale of Hummer will save 3,000 U.S. jobs in manufacturing, engineering and at Hummer dealerships, GM said. The arrangement includes the new buyer contracting vehicle manufacturing and business services during the transition. GM's Shreveport, Louisiana, plant continues to contract assemble the H3 and H3T through at least 2010.

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2

Automaker wants to add provision to stimulus bill to eliminate

http://www.detnews.com

The Detroit automaker has been urging members of Congress to add a provision to the $819 billion economic stimulus bill to eliminate the tax liability, which officials said could cost GM as much as $7 billion, and jeopardize the company's restructuring.

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 17 weeks ago

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2

GM, Chrysler suing taxpayers with taxpayer money

http://blogs.moneycentral.msn.com

As I recall from my college Greek mythology course, arrogant mortals ultimately learn -- and quite harshly -- the folly of excessive ego. The stories usually end with Zeus smiting with a few choice lightning bolts. Arrogance never escapes punishment from the gods.

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Created by Dr Who 4 years 22 weeks ago – Made popular 4 years 17 weeks ago

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