OnStar Enhances Location Information With Electronic Transmission Directly to 911
May 14, 2009
OnStar to electronically transmit precise longitude and latitude vehicle location data directly to 911 centers to increase the speed and accuracy of emergency response to its subscribers. Currently this information is relayed verbally by OnStar advisors to the Public Safety Answering Point (PSAP). OnStar, the industry ... Continue reading
OnStar Enhances Emergency Response with Microsoft Virtual Earth
May 14, 2009
Latest 3D technology brings emergency locations to life DETROIT May 13, 2009; OnStar builds on its reputation for trailblazing emergency services by tapping technology from Microsoft Corp. to provide OnStar advisors with critical 3D details to more accurately guide first responders to hard-to-find or rural locations. A ... Continue reading
GM and Chrysler To Cut 3000 U.S. Dealers
May 13, 2009
DETROIT May 13, 2009; Soyoung Kim and John Crawley writing for Reuters reportesd that General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said. GM, facing a U.S. government-imp ... Continue reading
'Main Street' Bondholders Rally for Inclusion in the GM Bankruptcy Negotiations
May 12, 2009
Seniors and Retirees Advocate for Fair Solution at Philadelphia & Tampa, FL events WASHINGTON, May 12 /PRNewswire-USNewswire/ -- The "Main Street" Bondholders Coalition, a project of 60 Plus Association, gathered today to voice concerns over their exclusion in the GM bankruptcy negotiations and to advocate for a fair a ... Continue reading
May 7, 2009
NEW YORK, May 7 -- GMAC Financial Services today confirmed capital requirements for the company resulting from the Federal Reserve's Supervisory Capital Assessment Program (S-CAP). In connection with this program, GMAC has committed that no later than Nov. 9, 2009, the company will have increased the common shareholder ... Continue reading
Geely has submitted a bid for GM's Saab: report
May 7, 2009
Geely has submitted a bid for GM's Saab: report http://autonews.gasgoo.com/auto-news/1010365/Geely-has-submitted-a-bid- for-G M-s-Saab-report.html Shanghai, May 7 (Gasgoo.com) Chinese carmaker Geely Automobile Holdings has submitted a bid to acquire GM's Saab unit, the Wall Street Journal reported Wednesday. Geely is o ... Continue reading
GM Reports First Quarter Financial Results
May 7, 2009
First quarter reported net loss of $6.0 billion Results reflect continuation of global economic downturn and lower industry-wide sales volume Losses partially offset by strong structural cost reduction due to aggressive restructuring efforts First Quarter 2009 2008 O/(U) 2008 Revenue (bils.): $22.4 $42.4 $(20.0) Report ... Continue reading
Soccer Moms Give Mini-Vans the Boot
May 6, 2009
This Mother's Day, NADAguides.com Announces Top 5 Rides for Today's Mom -- New Cars on the Market Provide Practicality and Safety, Without Sacrificing Style -- COSTA MESA, Calif., May 6 -- NADAguides.com, the leading provider of pricing information and market research for new and used cars, classic cars, RVs, motorcycl ... Continue reading
GMAC Financial Services Reports Preliminary First Quarter 2009 Financial Results
May 5, 2009
- First quarter net loss of $675 million - Weak economic conditions and legacy credit costs adversely affected results - Increased levels of consumer credit extended in the quarter: $3.8 billion in auto and $13.4 billion in mortgage - Tier 1 capital ratio of 10.6 percent; Tier 1 common ratio of 7.3 percent - GMAC Mortg ... Continue reading
Fiat Looking to Pickup GM Europe Units to Create New Super-Fiat Company
May 3, 2009
ROME - May 3, 2009: AP is reporting that Fiat is in talks with General Motors Europe to acquire most, if not all of GM's European brands. According to the AP story, "Fiat said in a statement Sunday it's evaluating the possible spinoff of its auto business to form the core of the new company." The current Fiat Automobil ... Continue reading
GM President and CEO Fritz Henderson Updates Media on Revised GM Viability Plan - COMPLETE VIDEO
Apr 27, 2009
DETROIT - April 26, 2009: General Motors President and CEO Fritz Henderson will host a press conference on Monday, April 27, to update the media on GM's revised viability plan. The press conference will run from 9 to 10 a.m. EDT in the Renaissance Conference Center located in Tower 300, Level 2, of the Renaissance Cent ... Continue reading
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
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