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
GM President and CEO Fritz Henderson to Hold Media Briefing Monday - Will This Be THE Announcement?
May 31, 2009
DETROIT - May 29, 2009: General Motors President and CEO Fritz Henderson will host a press conference on Monday, June 1. The conference will be around mid-day at the GM Building, 767 Fifth Avenue, in New York. Although no specific details regarding the briefing have been announced, given the fast and furious rumors of ... Continue reading
Schwarzenegger Introduces Raser's 100-MPG Electric Hummer H3 - EXCLUSIVE VIDEO
May 29, 2009
By Marc J. Rauch Exec. Vice President/Co-Publisher SACRAMENTO â May 29, 2009: Californiaâs Governor Arnold Schwarzenegger presented Raser Technologiesâ (up to) 100 MPG Hummer H3 at a press conference yesterday afternoon before a small but enthusiastic crowd. The introduction of this electric-hybrid SUV i ... Continue reading
Newly Ratified GM-UAW 2007 National Labor Agreement Modifications Eliminate Competitive Gap for GM
May 29, 2009
DETROIT - May 29, 2009: General Motors today confirmed that its UAW-represented employees have ratified the modifications to the GM-UAW 2007 National Labor Agreement. The amended agreement covers approximately 54,000 hourly employees located in 46 U.S. facilities. "The leadership demonstrated by UAW president Ron Gette ... Continue reading
Kelley Blue Book's Kbb.Com Names Their Top 10 Road Trip Cars of 2009
May 21, 2009
Kbb.com Editors Offer Their Top New Car Choices for Road Trips in a Variety of Categories IRVINE, Calif., May 21 -- The Top 10 Road Trip Cars of 2009, www.kbb.com/roadtripcars2009, were named today by the expert editors from Kelley Blue Book, www.kbb.com, the leading provider of new car and used car information. Memori ... Continue reading
Raser Technologies to Demonstrate 100 mpg Hummer Extended-Range Electric Vehicle
May 19, 2009
WASHINGTON--Raser Technologies, Inc. , a leading energy technology company, announced today that its 100 mpg Electric Hummer H3 will be demonstrated at the United States Capitol tomorrow, Wednesday, May 20, 2009, at 2 p.m. EDT. Members of Congress are invited test drive the vehicle. Senator Orrin Hatch (R-UT) will intr ... Continue reading
General Motors, Chrysler: Cutting Their Way to Greatness
May 18, 2009
Joel West SeekingAlpha May 17, 2009; The Big Three auto companies certainly arenât selling as many cars as they used to. As such, they need to reduce their fixed costs to more closely match their current revenues. Towards this end, the two sickest âU.S.â automakers are shedding dealers. Thursday, Chrysle ... Continue reading
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
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
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