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GM faces costly route to scrap Hummer | The Detroit News | detnews.com WASHINGTON -- The Frank Kent Hummer dealership -- complete with an indoor waterfall and a massive curved roof reminiscent of an aircraft hanger -- opened in Fort Worth in spring 2005 with hopes as high as the giant "H" that dominates its entrance. Three years later, General Motors wants to get rid of its lagging Hummer brand. But what's good for GM in this case may not be good for its 400 Hummer dealers, who have invested millions of dollars with the expectation of selling a line of new products for... Article added: 2008-12-08 06:19:16 Article Views Rating: 111
Dodd: GM's Wagoner should go | The Detroit News | detnews.com WASHINGTON -- A key lawmaker on Sunday said General Motors Corp. Chairman and CEO Rick Wagoner should have to step down in exchange for any long-term federal aid. Sen. Chris Dodd, D-Conn., said he is hopeful that Congress will pass a short-term $15 billion aid package for Detroit's Big Three automakers in the next few days to prevent an immediate collapse. But any longer-term financial help would require the companies to make significant restructuring moves, and that should include Wagoner's removal... Article added: 2008-12-08 06:19:14 Article Views Rating: 148
Out of Time, Out of Money, Out of Options GM Spirals Into The Abyss The most stark and striking revelation of the survival plan GM submitted yesterday was just how bad things are for them. The automaker who suffered a brutal November sales, down 41% from the year before, publicly admitted that without receiving $4 billion dollars by the end of this month, they will go into default. GM’s President and COO Fritz Henderson put it bluntly, “there isn’t a plan B, absent support the company can’t fund its operations.” The automaker also issued... Article added: 2008-12-04 15:19:11 Article Views Rating: 171
Officially Official: GM debuts Chevy GPiX Concept in Sao Paulo Click above for high-res gallery of the Chevy GPiX Concept General Motors officially debuted the GPiX Concept, which we previewed for you last week, at the Sao Paulo Auto Show in Brazil yesterday. It was designed entirely by GM Design in Brazil but retains those corporate styling cues that make it instantly recognizable as a modern Chevy around the world. This two-door crossover has a bit of ground clearance for what GM calls "the types of roads and conditions found in emerging markets." We think that... Article added: 2008-12-04 15:19:02 Article Views Rating: 105
SEMA Preview: GM Performance Parts 638-hp LS9 Crate engine General Motors has announced that the blown beastie that lives under the hood of the Corvette ZR1 will be available as a crate motor next fall and our head is spinning with the swap possibilities.With 639 hp and 604 lb.-ft. of twist available from the 6.2-liter supercharged V8, and dimensions shared by the LS3, any number of vehicles could make a happy home for the LS9. According to GM, the engine comes fully dressed, with an ignition system, exhaust manifolds and supercharger, and only needs an... Article added: 2008-12-04 15:19:01 Article Views Rating: 108
GM Ceases All Corporate Jet Flights: To Sell Remaining Jets GM today announced that it is ceasing operations at General Motors Air Transportation Services at Detroit Metro Airport. Due to significant cutbacks over the past months, GM travel volume no longer justifies a dedicated corporate aircraft operation. GM is currently exploring options for transferring its aircraft to another operator. The company is pursuing sale of four of the aircraft so it can terminate the leases. GM will shutter the facility at Metro Airport effective January 1, 2009. GM will work... Article added: 2008-12-03 07:00:20 Article Views Rating: 222
GM Sales Out Does Them All In A Bad Way: Sales Implode 41.3% In November General Motors dealers in the United States delivered 154,877 vehicles in November, down 41 percent compared with a year ago. GM car sales of 58,786 were off 44 percent and truck sales of 96,091 were down 39 percent. The steep decline in vehicle sales was largely due to a significant drop in the market's retail demand compared with last year, and continuing economic uncertainty that has negatively impacted consumer confidence. "In November we saw the continuation of the dramatic decline in volume... Article added: 2008-12-03 07:00:18 Article Views Rating: 163
GM Says It Will Sacrific SAAB, Saturn, Hummer, And Hobble Pontiac For Federal Funds General Motors Corp. today submitted a plan to use Federal bridge loans to create a leaner, more competitive company, one that is profitable and self-sustaining for the long term.[source] Article added: 2008-12-03 07:00:17 Article Views Rating: 134
GM asks Congress to kickstart its heart with ambitious plan General Motors has just revealed the plan it has submitted to Congress today, and the details show just how far the largest U.S. automaker is willing to go in order to secure bridge loans from the federal government. The plan includes selling Saab, possibly killing Saturn and scaling back Pontiac, as well as reducing dealers and shedding more workers, among other things. Here's the breakdown... Focus on "core brands": Chevrolet, Buick, GMC and Cadillac Launch predominately high mileage, energy-efficient... Article added: 2008-12-03 07:00:11 Article Views Rating: 169
Grounded: GM cancels all corporate jet service General Motors has an early New Years Resolution: to be more fiscally responsible when it comes to corporate travel. With six short, direct sentences see official press release after the jump, GM has declared that its Corporate Aviation Operations are to be shuttered. It might not seem like a big deal on the surface, but there are apparently numerous contractual agreements that need to be reworked to make this a reality. First, the jets themselves need to be returned, sold or transferred to another... Article added: 2008-12-03 07:00:11 Article Views Rating: 153 |
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