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Main > Car Makers News > GM > 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] Full article... Article added: 2008-12-03 07:00:17 Article Views Rating: 134 Main > Car Makers News > GM > 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... Full article... Article added: 2008-12-03 07:00:11 Article Views Rating: 169 Main > Car Makers News > GM > GM: Needs $4B in December to stay afloat | The Detroit News | detnews.com DETROIT -- General Motors Corp. needs more money from Congress than it previously disclosed and needs it sooner or risks being unable to survive into next year. The dire revelations were contained in a restructuring plan GM submitted to Congress on Tuesday to support its request for up to $18 billion in federal aid -- $6 billion more than the company said it needed last month. GM had said it was in danger of falling below minimum levels of cash needed to pay bills in early 2009. Now, the company needs... Full article... Article added: 2008-12-03 07:00:08 Article Views Rating: 167 Main > Car Makers News > Other > Survival roadmap for the Big 3 | The Detroit News | detnews.com WASHINGTON -- Detroit's Big Three automakers made a desperate plea for a $34 billion emergency federal bailout Tuesday, as General Motors Corp. and Chrysler LLC warned they would collapse by the end of the year without immediate help. The automakers delivered new business plans to Congress written during the last 11 days that for the first time spelled out in great detail the problems they face and the painful steps they must take to survive and restore profits amid plunging auto sales and a bleak... Full article... Article added: 2008-12-03 07:00:07 Article Views Rating: 166 Main > Car Makers News > Other > Could The Detroit Recovery Plan Really As Simple As Merging In To One? So this is how it ends for Detroit? After more than a century of putting the world on wheels, the American auto industry collapses amid squabbling over clueless CEOs and their private jets? Not necessarily. There is another way forward: the Big Three could become the Big One. The notion of three powerful U.S. automakers is already an anachronism. These companies are husks of the mighty institutions that once ruled the road. Now they control less than half the U.S. auto market and will lose a combined... Full article... Article added: 2008-12-02 10:58:48 Article Views Rating: 90 Main > Car Makers News > Other > UAW mulls reopening contracts to aid Big 3 | The Detroit News | detnews.com WASHINGTON -- As Detroit's Big Three are poised to present their business plans to Congress today justifying quick approval of $25 billion in emergency loans, the United Auto Workers has called an emergency meeting in Detroit on Wednesday during which the union could consider reopening its 2007 contracts with the automakers. Union leaders representing workers at General Motors Corp., Ford Motor Co. and Chrysler LLC plants across the country have been called to Detroit for the session, according to... Full article... Article added: 2008-12-02 10:58:29 Article Views Rating: 133 Main > Car Makers News > GM > Would GM shed Saab, Saturn and Pontiac to secure gov't aid? When ants need to cross some dangerous span in order to get to the thing they want, certain ants in the colony will sacrifice themselves to build a bridge that other ants can cross. That's how you get the honey. In GM's case, the honey is a $12 billion government lifeline. The dangerous span is, well, extinction. And the sacrificial ants in this case could be Pontiac, Saturn, and Saab.Before the government would start writing checks to the automakers, at least, Congress told GM and Ford and Chrysler to... Full article... Article added: 2008-11-29 08:01:12 Article Views Rating: 145 Main > Car Makers News > GM > GM considering sale of Pontiac, Saab, and Saturn. Is it a good idea? According to a report by Bloomberg, GM is considering dropping Pontiac, Saab and Saturn as a way to cut costs and to increase the chance of the Detroit Big 3 getting $25 billion in federal loans. Bloomberg cited anonymous sources that said GM is considering eliminating or selling the brands to help it avoid running out of money - which it recently said could happen as soon as the second-quarter of 2009.No GM spokesperson has commented on the report as of yet but it is widely believed that the move could... Full article... Article added: 2008-11-28 08:54:02 Article Views Rating: 130 Main > Car Makers News > GM > GM mum on report it might drop 3 brands | The Detroit News | detnews.com A GM spokesman declined to comment on a report Wednesday that the automaker was considering whether to eliminate its Pontiac, Saab and Saturn brands as a way to cut costs and improve its chances of getting as much as $12 billion in emergency federal aid. The Bloomberg report, quoting anonymous sources, said selling or dropping brands could help GM save cash and avoid running out of money, which the automaker has said it is in danger of doing early next year. In June, GM said it was reviewing the Hummer... Full article... Article added: 2008-11-27 08:21:32 Article Views Rating: 134 Main > Car Makers News > Other > IIHS releases list of 2009 Top Safety Picks Vehicles are getting safer according to the Insurance Institute for Highway Safety, which published its list of 2009 Top Safety Picks today. A total of 72 vehicles earned Top Safety Pick honors this year, which means each one earned the highest score of Good in front, side and rear crash tests performed by the IIHS, as well as offers electronic stability control. Ford and Volvo had the most cars on the list with 16 total, while Honda/Acura nabbed 13. The VW/Audi Group had nine models, and General Motors... Full article... Article added: 2008-11-26 06:44:13 Article Views Rating: 124 |
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