Obama hails recovery efforts in visit to GM plant | detnews.com | The Detroit News
-- President Barack Obama visited a General Motors Co. automobile assembly plant Tuesday hard hit by the industry downturn and hailed economic recovery efforts that will put more than 1,000 workers here back on the job next month. In his first visit to an automobile plant since the November election and since General Motors Co. and Chrysler Group LLC emerged from bankruptcy court, Obama said "automakers are getting back in the game," and defended the government's $50 billion investment, and ownership...

GM rescinds 27,000 pay cuts for white-collar workers | detnews.com | The Detroit News
General Motors Co. restored salaries for white-collar workers and some executives Friday in a bid to retain employees critical to the automaker's revival. GM, which emerged from bankruptcy after receiving $50 billion in federal aid, ended temporary pay cuts for about 27,000 U.S. workers and other employees in Canada and some foreign countries. Senior-level executive pay cuts, however, are not being restored -- for now. The news comes two days after GM said it would lay off 1,000 additional white-collar...

GM to lay off about 1,000 | detnews.com | The Detroit News
General Motors Co. needs to lay off about 1,000 white-collar workers this month because only 1,900 accepted early retirement and buyout offers, the automaker said Wednesday. The 1,000 involuntary cuts are part of GM's plan to slash 6,000 salaried jobs by the end of the year and most will hit southeastern Michigan communities with GM operations such as Detroit, Warren, Milford and Pontiac. The area already is reeling from pending GM factory closures and blue-collar job cuts from earlier this year. GM...

GM will sell Opel to group led by Magna | detnews.com | The Detroit News
General Motors Co. plans to sell control of its German carmaker Adam Opel GmbH to a group led by Canada's Magna International Inc., the German government's preferred bidder. "The board concluded that this really is the best solution for the long-term viability of Opel," said GM Group Vice President John Smith, the U.S. automaker's chief negotiator. GM expects to finalize definitive agreements within the next few weeks and conclude the deal before December. The announcement marks the conclusion of a...

GM sells Opel to Magna, Sberbank | detnews.com | The Detroit News
General Motors Co. will enter into the latest of a series of alliances in key overseas markets after agreeing to sell control of its German carmaker Adam Opel GmbH. GM said it was planning to sell 55 percent of Opel to Canada's Magna International Inc. and Sberbank of Russia, the German government's preferred bidders. The U.S. automaker will retain 35 percent, forming a three-way partnership. "We're very experienced and very successful in collaborative business models," said John Smith, group vice...

Whether Germans like it or not, GM won't be going away | detnews.com | The Detroit News
The only question I have about General Motors Co.'s incipient spin-off of its Adam Opel GmbH unit in Germany is this: Are they popping corks on German or the old Russian equivalent, that sparkling wine from Georgia favored in Soviet times? For the better part of 80 years -- and, Lord knows, certainly for the past 15 -- so many of the Germans I knew who worked for Opel wanted nothing more than to slip the yoke of American oppression they so readily blamed for all that ailed their beloved , the yellow...

GM offers 60-day, cash-back guarantee | detnews.com | The Detroit News
General Motors Co., trying to woo consumers after a trip through bankruptcy, will launch a new advertising campaign Monday touting a 60-day money-back guarantee featuring GM Chairman Ed Whitacre. The move is a bid to boost slumping sales and market share at a crucial time for the automaker, and for GM executives under government pressure to improve the company's fortunes. GM, which received $50 billion in federal aid, is pouring millions into the "May the Best Car Win" campaign. The promotion will urge...

Germany: Politics won't rule GM's sale of Opel | detnews.com | The Detroit News
-- General Motors Corp. isn't under any major political influence to pick a buyer for its European car business, Adam Opel GmbH, German Finance Minister Peer Steinbrueck said Saturday. Steinbrueck said he told U.S. Treasury Secretary Timothy Geithner once again that the German government favors a bid by Canadian car parts maker Magna International Inc. and Russia's state-owned Sberbank over Belgian investor RHJ International. The U.S. won't get involved in GM's decision, which could come at a board...

GM: Fleet airbags required | detnews.com | The Detroit News
-- General Motors Co. will not allow fleet purchasers to skip buying side airbags on 2010 models, the company said Friday. The automaker previously allowed fleet buyers to save $145 per vehicle by opting out of buying side airbags on tens of thousands of 2006-09 models that were typically billed as having "standard side airbags," a policy safety advocates questioned. Many of those used vehicles have ended up for sale and have been erroneously marketed as having standard air bags. GM has vowed to take...

Remaining GM dealers face tough standards, sales goals | detnews.com | The Detroit News
-- General Motors Co. dealers who survived the automaker's bankruptcy were told Friday they will have to average higher sales and spend more updating their facilities. Some will also have to get used to selling smaller, more fuel-efficient and better-equipped vehicles than during the industry's SUV-crazy heyday. GM executives met with 430 dealers from around the Midwest at the Rock Financial Showplace as part of a nine-city tour to discuss the future of the automaker's four core brands: Chevrolet...