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
GM Statement Re: Recent Changes in GM Stock Price and Volume
Jun 10, 2009
DETROIT, June 10 -- GM management has noticed a recent elevation in the volume and price of its common stock. While GM does not control the market or its stock price, GM management strongly believes that any recovery for the common stockholders in the chapter 11 bankruptcy process is highly unlikely, even under the mos ... Continue reading
Survey Shows Public Wary Of Government Running Auto Companies
Jun 10, 2009
<b>More Than Half of Consumers Think Auto Companiesâ Bailouts were Bad Idea</b> TUSTIN, June 10, 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 ... Continue reading
NADA Statement on GM's Revised Participation Agreement
Jun 9, 2009
MCLEAN, Va., June 8 /PRNewswire-USNewswire/ -- The National Automobile Dealers Association (NADA) has reviewed and supports GM's amendments to the Participation Letter Agreement. We're especially pleased that GM moved so quickly to meet with NADA and the GM National Dealer Council on such short notice to review and to ... Continue reading
Jun 7, 2009
Auto Ads Down By $1.1 Billion In First Quarter
Jun 6, 2009
<b>By Claire Atkinson -- Broadcasting & Cable</b> <b>GM consolidation to take auto ad category down by $1.3 billion, but there's good news for stations</b> New York, June 4, 2009: The General Motors focus on four auto brands, rather than eight, will reduce auto advertising by $1.3 billion, says senior analyst Michael N ... Continue reading
Jun 3, 2009
WILMINGTON, Del.--Wilmington Trust, a leading provider of institutional trustee, agency, and administrative services through its Corporate Client Services (CCS) business, said today that it has been appointed by the United States Trustee to the unsecured creditorsâ committee in the bankruptcy of General Motors Cor ... Continue reading
Jun 3, 2009
<b>Robert Snell</b> Writing for the The Detroit News, Robert Snell says that General Motors Corp. is eliminating more dealers than initially reported and taking a tough stance with the rest of its retailers who must agree to stricter sales and performance targets or be eliminated in bankruptcy court. Dealers nationwide ... 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
GM Pulls Ahead U.S. Plant Closures; Reaffirms Intent to Build Future Small Car in U.S.
Jun 1, 2009
14 U.S. Manufacturing Plants & Three Service and Parts Operations Warehouses Impacted DETROIT, Mich. -- General Motors Corp. today announced details of its accelerated manufacturing plan to improve capacity utilization and flexibility for the New GM. GM also reaffirmed it will build a small car at one of its U.S. assem ... 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
AP Reports That Monday is Definitely "B-Day" for General Motors
May 31, 2009
DETROIT - May 31, 2009: The Associated Press is reporting tonight that tomorrow morning, at 8AM EDT, the company that was once the world's largest, will file for bankruptcy protection. According to the story, GM plans to name turnaround executive Al Koch to serve as its chief restructuring officer through the protectio ... Continue reading
The Auto Channel content library (since 1996) has grown to become the world’s most extensive and complete interactive archive of automotive centric news, articles, reviews and intense event coverage, presented to viewers as Text, Video and Images.
