GM's Updated Viability Plan Speeds, Deepens Restructuring of U.S. Operations
Apr 27, 2009
DETROIT -- General Motors today presented an updated Viability Plan that will speed the reinvention of GM's U.S. operations into a leaner, more customer-focused, and more cost-competitive automaker. The Viability Plan is included in an exchange offer whereby GM is offering certain bondholders shares of GM common stock ... Continue reading
GM Launches Exchange Offers and Consent Solicitations for Outstanding Notes
Apr 27, 2009
Common stock plus accrued interest in cash offered for $27 billion of outstanding public debt Successful exchange to result in at least $44 billion reduction in total liabilities from bondholders, U.S. Treasury and VEBA Bondholders to own 10 percent of GM after successful exchange offer Exchange contingent on VEBA modi ... Continue reading
Apr 27, 2009
DETROIT - April 27, 2009: In an early morning live press conference today, Fritz Henderson, General Motors' President and CEO, announced that the company's North American plans are to move ahead with only four core brands: Cadillac, Chevrolet, GMC and Buick. Henderson said that after long careful analysis that GM sees ... Continue reading
GM to Announce Brand Changes, Restructuring Moves
Apr 27, 2009
GM to hold news conference 9 AM Monday to announce brand changes, restructuring moves DETROIT April 26, 2009; Tom Krisher writing for the AP reported that General Motors Corp. will announce details of its massive restructuring plan on Monday, including the demise of its storied Pontiac brand, more factory closures and ... Continue reading
GM Owners Brand Loyaty Tested By Financial Problems
Apr 24, 2009
MILWAUKEE April 23, 2009; Emily Fredrix writing for the AP reported that there seemed little chance U.S. car makers could look any worse, but moves like General Motors' announcement Thursday that it will cut production this summer risk scaring off remaining potential customers and eroding decades of brand loyalty. When ... Continue reading
Buick Business Concept Vehicle Unveiled in Shanghai
Apr 21, 2009
The multi-purpose vehicle was developed in China by the Pan Asia Technical Automotive Center, a design and engineering joint venture between General Motors and Shanghai Automotive Industry Corporation, with global design input. ... Continue reading
GM Recalling 1.5 million Vehicles
Apr 13, 2009
WASHINGTON April 13, 2009; The AP reported that General Motors Corp. is recalling 1.5 million vehicles because of potential engine fires. GM says there have been no reports of any fires or injuries. Some of the recalled vehicles are no longer in production. The recall includes the 1998-1999 Oldsmobile Intrigue, the 199 ... Continue reading
Many Questions Left Unanswered in General Motors Apparent Plans
Apr 13, 2009
AUTO CENTRAL - April 13, 2009: In addition to the confusion over the recent GM announcement concerning their intention to âclearly focusâ on four core brands (when they then go on to enumerate five), or why they would embroil themselves in a whole new direction with Segway, there are several significant gaps ... Continue reading
BREAKING NEWS: Reason for GM Failure Discovered! - VIDEO ENHANCED
Apr 10, 2009
Recent New York Auto Show Video Pinpoints the Problem Behind GM's Malaise By Marc J. Rauch Exec. Vice President/Co-Publisher There's a lot of theories and opinions as to why General Motors, the world's biggest automaker fell into hard times. And I have to admit, that some of the diverse opinions have originated right h ... Continue reading
Apr 9, 2009
AUTO CENTRAL - April 9, 2009: Yesterday, Michigan Congressman Thaddeus McCotter was interviewed by Yahoo! Finance and Henry Blodgett on the auto industry and economic situation. That video can be watched by clicking on the PLAY button in the window below. The following is Marc Rauchâs response to Congressman McCot ... Continue reading
BREAKING NEWS: General Motors Rumored to be Preparing for Bankruptcy Filing
Apr 7, 2009
SACRAMENTO - April 7, 2009: News from sources ranging as diverse as Reuters to the Mike Omera Radio Show are reporting that General Motors is on the verge of filing for bankruptcy. While there's no official word from either GM itself or or Wall Street, it seems like Wednesday morning could be the eventful time. One pos ... Continue reading
SAIC May Buy Buick Brand Of Slimming GM
Apr 7, 2009
SAIC may buy Buick brand of slimming GM http://autonews.gasgoo.com/auto-news/1009903/SAIC-may-buy-Buick-brand-o f-sli mming-GM.html Shanghai, April 7 (Gasgoo.com) As China is the biggest market of the Buick cars, GM's Chinese partner partner SAIC is planning to buy the Buick brand from slimming GM or take over the righ ... Continue reading
Initial Thoughts on Obama's Moves - EDITORIAL
Mar 30, 2009
By Marc J. Rauch Exec. Vice President/Co-Publisher SACRAMENTO â March 30, 2009 (11:30AM EDT) â I agree with and applaud most of what Barak Obama said this morning in his national broadcast. However, I disagree with a couple of items. Firstly, I donât believe that either General Motors or Chrysler have ac ... Continue reading
Buick Tops 2009 J.D. Powers Vehicle Dependability Study
Mar 20, 2009
Detroit March 19, 2009; Further demonstrating Buick's ongoing commitment to quality, J.D. Power and Associates announced today that Buick tied for the highest ranking in vehicle dependability for three-year old models. The Buick LaCrosse was also ranked first in the midsize car segment, beating the Toyota Camry, while ... Continue reading
CNW Study Says GM and Chrysler Sales Hurt By Uncertainty
Mar 19, 2009
DETROIT, March 19, 2009; (Reuters) - Fewer new car shoppers are considering vehicles from General Motors Corp (GM.N) and Chrysler LLC at a time when consumer attention is focused on their request for further U.S. government aid, according to a survey released on Thursday. The share of car shoppers who say their primary ... Continue reading
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