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Howes: Insiders at new GM same as they ever were | detnews.com | The Detroit News Outsiders? They don't need no stinkin' outsiders to run the post-bankruptcy General Motors Co. -- at least not on the management team detailed Thursday. The government-appointed board of directors is something else altogether, long as it is on outsiders from Wall Street, the telecom business and academia and short on anything approaching automotive experience. Welcome to one of the more salient untenables in the federal government's bailout-cum-bankruptcy of new GM: President Barack Obama's auto task... Article added: 2009-07-24 10:35:53 Article Views Rating: 50
GM, CAW reach tentative deal | detnews.com | The Detroit News General Motors Corp. and the Canadian Auto Workers union have reached a tentative agreement in negotiations to reduce labor costs as mandated by the Canadian and Ontario governments as a condition of securing government loans. CAW President Ken Lewenza said the agreement between the United Auto Workers and GM a day earlier put pressure on the Canadian talks, as well as the need for GM to be able to put a comprehensive restructured business plan on President Barack Obama's desk within three days. A... Article added: 2009-05-25 05:23:16 Article Views Rating: 133
GM's greener HCCI engine shows promise | detnews.com | The Detroit News -- Don't knock it until you try it. A very simplified way to look at General Motors Corp.'s HCCI engine is to think of it as the old engine knocking. Remember turning off your car and listening to the engine still running in that clunk, clunk kind of way? Instead of using a sparkplug to ignite the fuel, the heat trapped in the cylinder and pressure created by the piston pushing up would ignite the remaining fuel. It was never a pleasant experience as it sputtered and coughed. For decades, GM has been... Article added: 2009-05-25 05:23:12 Article Views Rating: 68
GM bleeds; aid talks heat up | detnews.com | The Detroit News Pressure is mounting on General Motors Corp. to secure additional federal aid and money-saving concessions from the United Auto Workers and bondholders in light of the automaker's $30.9 billion loss last year. GM revealed its fourth straight annual loss -- the second-worst in the company's 100-year history -- on Thursday, hours before Chairman and CEO Rick Wagoner met with President Barack Obama's auto team, which is overseeing the automaker's restructuring and repayment of $13.4 billion in federal... Article added: 2009-02-27 15:55:36 Article Views Rating: 262
GM's Opel directors debate future | detnews.com | The Detroit News BERLIN -- The supervisory board of General Motors Corp.'s Opel unit was meeting Friday to hear suggestions from management on how the auto maker can weather the economic crisis and its parent's troubles. The supervisory board -- the equivalent of a U.S. board of directors -- met in Ruesselsheim, Germany, where Adam Opel GmbH has its headquarters and biggest plant. Opel chief executive Hans Demant said before the meeting that he could guarantee managers would present "intelligent suggestions" to the... Article added: 2009-02-27 15:55:35 Article Views Rating: 257
GM gets closer on deal for investors | detnews.com | The Detroit News Negotiations between General Motors Corp. and its bondholders are progressing, with major investors signaling that they are now willing to accept less money than originally sought in exchange for forgiving billions in unsecured notes -- but only if the federal government guarantees the new debt. Bondholders had pushed for about 50 cents on the dollar. Now, sources familiar with the situation say they are prepared to accept 40 cents on the dollar, or even 30 cents. But government backing would have to be... Article added: 2009-02-25 06:22:50 Article Views Rating: 286
GM tweaks Volt engine plan | detnews.com | The Detroit News General Motors Corp. has scrapped plans to build a new plant to produce engines for its Chevrolet Volt extended-range electric vehicle and instead will build the engines in an existing Flint factory. The move will save money and use available floor space within the Flint South engine plant on Bristol Road, the automaker announced Tuesday. GM had said in September it would invest $370 million in a new 552,000-square-foot manufacturing plant that would produce four-cylinder engines for the Volt and the... Article added: 2009-02-25 06:22:50 Article Views Rating: 203
U.S.-German working group to seek help for GM's Opel | detnews.com | The Detroit News BERLIN -- Germany's new economic minister says he has arranged an informal working group with the U.S. treasury secretary aimed at finding a way to save General Motors Corp.'s German-based Opel unit. Karl-Theodor zu Guttenberg said in comments published in the Bild am Sonntag weekly Sunday that he had contacted Timothy Geithner in Washington about setting up a working group in hopes of finding a way to secure the future of Adam Opel GmbH. "I will use my first visit to the U.S.A. in March to hold further... Article added: 2009-02-23 15:09:05 Article Views Rating: 251
GM to seek more federal aid | detnews.com | The Detroit News DETROIT -- General Motors Corp. will ask for billions more in federal aid today when it submits a restructuring plan to the U.S. Treasury Department outlining cuts that will dramatically shrink the iconic but troubled American automaker. But GM's recovery plan and one from Chrysler LLC, due today as a condition of a $17.4 billion federal loan package, are not expected to include key money-saving concessions from the United Auto Workers and bondholders. Despite long negotiations over the weekend and... Article added: 2009-02-17 14:55:39 Article Views Rating: 225
GM announces more temporary layoffs | detnews.com | The Detroit News General Motors Corp. will temporarily layoff hourly workers at two powertrain plants in Ohio as the company adjusts production amid weak demand in the U.S. auto industry. About 100 hourly workers will be laid off for a week on Monday at the GM Powertrain plant in Defiance, about 54 miles southwest of Toledo. And on Feb. 23, about 1,200 hourly workers will be laid off during a one-week shutdown at the foundry, where workers make various components such as clutch housings, crank shafts and cylinder... Article added: 2009-02-15 18:02:48 Article Views Rating: 175 |
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