Tengzhong, GM to Seal Hummer Deal June 28th ...Although Reuters Says Otherwise - VIDEO ENHANCED
Jun 25, 2009
Shanghai, June 25 Sichuan Tengzhong Heavy Industrial Machinery Co. will sign a formal deal with General Motors Corp on June 28 in the U.S. to acquire GM's Hummer brand, sina.com said yesterday. Insider sources told the Chinese web portal that China's top economy planner and commerce ministry are very likely to approve ... Continue reading
Jun 19, 2009
DETROIT - June 19, 2009: Although the U.S. Government has guaranteed the warranties of all General Motors vehicles during its reorganization period, some consumers are still worried about car servicing and resale value. However, despite dealership closings and brands disappearing, GM will still have the largest dealer ... Continue reading
OJT: New GM Board Chair Vows to "Learn About Cars"
Jun 14, 2009
New York June 10, 2009; Amy Thomson and Katie Merx writing for Bloomberg reported that Edward E. Whitacre Jr. built AT&T Inc. into the biggest U.S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry. The 6-foot-4 ... Continue reading
The Fox is Now Guarding the GM Henhouse
Jun 12, 2009
By Marc J. Rauch Exec. Vice President/Co-Publisher THE AUTO CHANNEL General Motors is in need of a complete overhaulâ¦obviously. They need to get rid of the dead-weight in both product and personnel, which they appear to be trying to do if you donât count Buick and Pontiac. They have to regain the trust of inv ... Continue reading
Survey Shows Public Wary of Government Running Auto Companies
Jun 11, 2009
More Than Half of Consumers Think Auto Companies' Bailouts were Bad Idea TUSTIN, CA - June 11, 2009: A just-completed national survey shows American consumers are skeptical of the U.S. governmentâs involvement in the auto industry, with 81 percent of respondents agreeing that the faster the government gets out of ... Continue reading
Jun 8, 2009
Schwarzenegger Comments on Hummer Sale to Chinese - EXCLUSIVE VIDEO
Jun 4, 2009
SACRAMENTO - June 4, 2009: California Governor Arnold Schwarzenegger took the opportunity yesterday during a Volkswagen fuel cell press introduction to talk about General Motors' recent sale of its Hummer brand to a Chinese company. Click PLAY to watch the video of Schwarzenegger's comments on the Hummer sale Coinciden ... Continue reading
GM Sells Hummer to China's Tengzhong
Jun 3, 2009
GM sells Hummer to China's Tengzhong http://autonews.gasgoo.com/auto-news/1010731/GM-sells-Hummer-to-China-s -Teng zhong.html Shanghai, June 3 (Gasgoo.com) General Motors has reached a preliminary agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co, a machinery company based in western ... Continue reading
General Motors Announces Preliminary Agreement To Sell HUMMER
Jun 2, 2009
Deal could secure more than 3,000 jobs in the United States; preserves HUMMER as global off-road brand DETROIT June 2, 2009; General Motors Corp. announced it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand. This transaction is the result of GM's strategic review ... Continue reading
General Motors Expects Announcment of Hummer Sale Soon
Jun 2, 2009
SHANGHAI, June 2, 2009; Fang Yan and Simon Rabinovitch writing for Reuters reported that General Motors Corp (GM.N) is expected to make an imminent announcement on the sale of its Hummer brand, Kevin Wale, president of GM China Group, said on Tuesday. GM's iconic gas-guzzling Hummer brand has been up for sale for nearl ... Continue reading
New Era in Autos as GM Set for Bankruptcy
Jun 1, 2009
Washington DC June 1, 2009; The AIADA newsletter reported that as GM prepared to file for bankruptcy, the question facing 56,000 auto workers, 3,600 GM dealers, and the Obama administration is: Will it work? According to the Wall Street Journal, the government, which will own a majority of the company, is wagering upwa ... Continue reading
General Motors' Board of Directors Statement
Jun 1, 2009
Attributable to Kent Kresa, Chairman DETROIT - June 1, 2009: âThe General Motors Board of Directors authorized the filing of a chapter 11 case with regret that this path proved necessary despite the best efforts of so many. Today marks a new beginning for General Motors. A court-supervised process and transfer of ... Continue reading
GMAC Financial Services Statement on General Motors Chapter 11 Filing
Jun 1, 2009
DETROIT, June 1 -- GMAC Financial Services is a creditor of General Motors Corp. (GM) and as such is taking the appropriate steps to protect GMAC's interests during GM's restructuring. GM has submitted a motion to the U.S. Bankruptcy Court that, pending approval, would allow its direct business with GMAC to continue in ... Continue reading
President Obama to Hold Media Briefing Prior to General Motors' BK Press Conference
May 31, 2009
WASHINGTON - May 31, 2009: According to a White House media advisory, President Obama will begin his remarks at approximately 11:55 a.m. EDT. General Motors Corp. President and CEO, Fritz Henderson, will host a press conference, beginning immediately following President Obama's media briefing. ... Continue reading
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