Ford and General Motors recognize the importance of the specialty equipment industry, and have selected their respective 2009 SEMA show participants for this year's Design Award.
more
|
In a conference call with the press this morning, GM CEO Fritz Henderson announced that U.S. sales chief Mark LaNeve will resig
more
|
To fill dealer demand, GM will hold off on necessary plant retooling to cull as many pre-2010 diesel engines as possible before
more
|
The debate will go on for quite some time, but when it came to dealing with the crises in the automotive industry, Washington got it right on two counts. For now, it seams like some things will never change.
more
|
General Motors China announced yesterday that it has signed an agreement to invest 2 billion yuan ($293 million) in Chinese light truck and van manufacturer FAW to build a new production facility in the northern Jilin province. The 50-50 joint-venture factory, already under construction in Changchun
more
|
Not one week out of bankruptcy and New GM's checkbook is already getting a workout. It has been revealed today that former CEO Rick Wagoner will take home an estimated $8.6 million retirement package and the company will invest another $1 billion in Brazil to build cars for the South American market
more
|
With the undesirable task of shepherding both Chrysler and GM through bankruptcy in just a few months time behind him, Presidential Auto Task Force lead man Steven Rattner is stepping down.
more
|
Retirement is apparently going to have to wait for Bob Lutz, GM's eminently quotable vice chairman and product guru, who was expected to step down for good from the General by the end of the year. According to various reports, Lutz, 77, will formally return to the company as it emerges from Chapter
more
|
On the petro-fed side of GM Powertrain, development continues on its homogenous charge compression ignition system with test mules on both sides of the Atlantic (single-cylinder test engine shown).
more
|
The square, blue GM logo is synonymous with General Motors but, according to the Associated Press, the icon might soon get a green makeover.
more
|
GM dealers are feeling the sting of GM's restructuring as they run into slimming supplies of certain truck and SUV models.
more
|
GM's plug-in hybrid SUV plans are officially on track for a 2011 debut, product chief Tom Stephens confirmed.
more
|
The plan to carve out General Motors' future as the "New GM" has apparently cleared its final hurdle with a ruling yesterday by U.S. Bankruptcy Judge Robert E. Gerber, who has approved the breaking off of GM's assets into separate good and bad entities.
more
|
After facing intense public, legal, and political pressure from across the country, GM has relented and now says it will assume responsibility for all future liability claims filed after the automaker emerges from bankruptcy, regardless of when the vehicle was made.
more
|
In its continuing efforts to become a "leaner" company, GM sent a letter to its roughly 27,000 salaried employees and executives informing them that 4,000 of them would no longer have jobs with the company come October.
more
|
GM announced this morning that Global Purchasing Group Vice President Bo I. Andersson is stepping down effective immediately. Meanwhile, CEO Fritz Henderson was busy testifying before Congress on dealer closures.
more
|
Like a LaSalle, any stock certificates you have in General Motors have become collectors' items. Like the Pontiac Aztek, they're not worth anything. And like Citigroup, GM stock is no longer part of the Dow Jones Industrial Averages.
more
|
Fresh off its announcement yesterday that its attempt to make a debt-for-equity swap with bondholders had failed, GM announced today that a sweetened offer has gained the support of a some of the bondholders, reigniting hopes of a smooth, quick bankruptcy proceeding. Today, two major automotive supp
more
|
GM announced this morning that its attempt to persuade bondholders to exchange their $27 billion in debt for a 10% equity stake in the restructured company had failed, essentially ensuring that GM will enter into bankruptcy protection next week.
more
|
With the driving season coming up, the National Highway Traffic Safety Administration is urging the appropriate precautions be taken when driving or riding in a 15-passenger van.
more
|
The United Auto Workers (UAW) is closer to reaching a new contract with General Motors and the U.S. Treasury Department, the union announced today. A "tentative understanding" between the three would revise the $20 billion in debt GM owes to the Voluntary Employee Beneficiary Association trust (VEBA
more
|
President Barack Obama has announced a new fuel efficiency policy that requires automakers to meet a 35.5 mpg standard four years early, by 2016.
more
|
Monday The Washington Post reported that Wagoner still is "technically on GM's payroll."
more
|
A WORLD OF 24-HOUR CAMERAS and Thought Police, it redefined the idea of "big brother" and made "Orwellian" a household word. Your truck records data on how you drive, said to be occasionally used by the manufacturer and only to assist in making vehicles safer by drawing on a broader database. But wh
more
|
GM could face a slew of lawsuits from closed dealerships as a result of the brand's widespread restructuring plans, say reports.
more
|