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Bankruptcy not out of the question for GM, White House aide says | detnews.com | The Detroit News WASHINGTON -- A top White House adviser on Sunday refused to rule out bankruptcy for General Motors as the deadline for the domestic carmakers' restructuring plans looms this week. "We're going to need a restructuring of these companies. How that restructuring comes about is going to have to be determined," said David Axelrod, a senior adviser to President Obama, said on NBC's "Meet the Press." Axelrod's comments came in response to questions about a Wall Street Journal report on Saturday that GM will... Article added: 2009-02-15 18:02:47 Article Views Rating: 188
GM not intending to offer more buyouts | detnews.com | The Detroit News Cash-strapped General Motors Corp. does not intend to offer another round of buyouts to hourly workers after the current program expires next month, a source familiar with the situation said today. GM, which is operating after receiving $9.4 billion in federal loans, doesn't have the money to make another offer beyond a $45,000 incentive unveiled last week that includes a cash payment and vehicle voucher. The Detroit automaker expects most hourly workers will wait until after the automaker submits its... Article added: 2009-02-12 06:29:15 Article Views Rating: 190
GM executive announces retirement | detnews.com | The Detroit News A General Motors Corp. executive who oversaw dealerships is retiring, the second leader to announce their departure from the troubled automaker this week. William Powell, a 32-year employee and vice president of industry-dealer affairs in North America, will retire March 1, the company announced this morning. He follows Vice Chairman Bob Lutz, who announced Monday he will retire at the end of the year. "Bill Powell has made tremendous contributions to GM in a variety of roles over the past 32 years, and... Article added: 2009-02-12 06:29:15 Article Views Rating: 185
Five GM vehicles are among the stars in new 'Transformers' movie | detnews.com | The Detroit News CHICAGO -- It was a transformational press conference for Chevrolet. The top-selling brand for General Motors Corp. rolled out five lead characters in the coming Transformers sequel "Transformers: Revenge of Fallen." The cast, which are all Autobots, include: Sideswipe: A Corvette Stingray concept vehicle. Skids and Mudflap: A mini-sized Chevy Beat and Trax concept vehicles. Jolt: A slightly tweaked Chevy Volt. "We're the good guys," said Chevrolet's general manager Ed Peper of the concept vehicles that... Article added: 2009-02-12 06:29:14 Article Views Rating: 182
GM's senior VP of communications leaving for United Airlines | detnews.com | The Detroit News A top public relations executive is leaving General Motors Corp. to oversee communications for United Airlines, trading the country's largest automaker for the third largest airline company. The Chicago-based airliner today announced that Tony Cervone has been hired as chief communications officer and senior vice president of corporate communications. The 46-year-old Oakland Township resident starts Feb. 16 and will oversee internal and external communications, media and public relations and crisis... Article added: 2009-02-05 07:31:57 Article Views Rating: 163
GM halts political funding | detnews.com | The Detroit News WASHINGTON -- General Motors Corp. has temporarily halted donations from its political action committee as it shores up its accounts. "As we have done in previous years following an active election cycle, we are holding off on making contributions in the first quarter as we replenish employee contributions," GM spokesman Greg Martin said Wednesday. But this is the first halt in donations by GM in at least six years. In the first three months of the 2004 election cycle, GM donated $171,580. In 2006, the... Article added: 2009-02-05 07:31:56 Article Views Rating: 175
GM in talks with Isuzu to sell medium-duty truck business | detnews.com | The Detroit News General Motors Corp. is negotiating with Isuzu Motors Ltd. to sell its medium-duty truck business, a move that would help the cash-strapped automaker raise money, cut costs and help ensure it complies with a $13.4 billion federal loan package. The negotiations involve keeping the truck division in Flint through 2014, a local union official said today. That contrasts with an earlier failed agreement with Navistar International Corp., which would have relocated jobs to another factory. "I think its great... Article added: 2009-02-03 07:09:25 Article Views Rating: 179
Isuzu may buy GM truck business | detnews.com | The Detroit News General Motors Corp. is negotiating with Isuzu Motors Ltd. to sell its medium-duty truck business, a move that would help the cash-strapped automaker raise money, cut costs and help ensure it complies with a $13.4 billion federal loan package. The negotiations involve keeping the truck division in Flint through 2014, a local union official said Monday. That contrasts with an earlier failed agreement with Navistar International Corp., which would have relocated jobs to another factory. "I think it's... Article added: 2009-02-03 07:09:23 Article Views Rating: 171
GM lobbies Congress to avoid tax | detnews.com | The Detroit News WASHINGTON -- General Motors Corp. is quietly lobbying Congress to help the automaker avoid a multibillion-dollar tax bill the company faces as part of its $13.4 billion loan agreement with the federal government. 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. GM circulated a proposed fix to... Article added: 2009-01-30 07:07:51 Article Views Rating: 197
GM cutting 2,000 jobs in Michigan, Ohio | detnews.com | The Detroit News NEW ORLEANS -- General Motors Corp. announced more production cuts and layoffs today because of weak demand affecting the U.S. auto industry. The automaker is eliminating a shift at its Delta Township plant near Lansing and in Lordstown, Ohio, collectively affecting about 2,000 workers. It will temporarily idle production at 10 other plants across North America during the first or second quarter, GM spokesman Chris Lee said. "It's a function of the fact that the market is down," GM North America... Article added: 2009-01-27 13:56:04 Article Views Rating: 195 |
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