General Motors drops Montana mine in favor of foreign suppliers for precious metalsJuly 22nd, 2009 GM drops Mont. mine in favor of foreign metalsBILLINGS, Mont.
Judge tentatively approves deal to shift some Delphi assets to the new General MotorsJuly 13th, 2009 Judge OKs shift of some Delphi assets to new GMNEW YORK — A bankruptcy judge has approved a deal to shift some of auto parts supplier Delphi's assets to the General Motors Co. that emerged from Chapter 11 bankruptcy protection last week.
American Axle working through restructuring plan with legal and financial advisersJuly 11th, 2009 American Axle working through restructuring planNEW YORK — American Axle is working with longtime legal and financial advisers to consider restructuring options, but the company and a law firm representing it are stopping short of saying they are considering bankruptcy. "After discussions with our bankruptcy group we are not in a position to comment," a Shearman & Sterling spokesman said.
GM has emerged from bankruptcy after signing paperwork to transfer assetsJuly 10th, 2009 GM emerges from bankruptcyDETROIT — General Motors Corp. CEO Fritz Henderson says the new GM will be far faster and more responsive to customers than the old one.
GM workers 'go with the flow' on the day of the company's historic bankruptcy filingJune 1st, 2009 GM workers 'go with the flow' on bankruptcy dayORION TOWNSHIP, Mich. — General Motors Corp.
AP sources: General Motors to file bankruptcy; Government to take 60 percent ownership stakeJune 1st, 2009 AP sources: General Motors to file bankruptcyWASHINGTON — A congressional official says General Motors Corp. will file for bankruptcy protection Monday and the federal government plans to take a 60 percent ownership stake in the company.
General Motors CEO Henderson says automaker will be leaner, quicker after bankruptcy courtJune 1st, 2009 GM CEO says reinvented company will be lean, quickNEW YORK — General Motors CEO Fritz Henderson says the new GM will be a leaner and quicker company that's more focused on its customers and its products. Henderson spoke Monday at a news conference in New York after the fallen icon of American industry filed for bankruptcy protection.
Obama's Day: The president will offer his support for GM's restructuring planJune 1st, 2009 Obama to address GM bankruptcy on MondayWASHINGTON — President Barack Obama plans to announce his support for General Motors' restructuring strategy at a midday appearance at the White House. The struggling automaker files for bankruptcy protection Monday in a deal that will give U.S.
White House says Obama thinks progress is being made toward GM restructuringMay 29th, 2009 White House: Obama sees progress for GMWASHINGTON — The White House says President Barack Obama thinks progress is being made toward restructuring General Motors Corp. and putting it on a path to being a viable auto company.
Top Banking panel GOP member raps large federal stake in financially beleaguered GM Corp.May 29th, 2009 Shelby assails large gov't role in General MotorsWASHINGTON — Sen. Richard Shelby said Friday the government should have allowed the marketplace to decide General Motors' fate and that the huge federal stake in the company puts Washington on "the road to socialism."
Shelby, ranking Republican on the Banking Committee, argued that the financially beleaguered GM could have saved "lots of money" if it had chosen six months ago to file a Chapter 11 bankruptcy petition.
General Motors posts quarterly loss of $6 bnMay 7th, 2009 DETROIT - Threatened US carmaker General Motors posted a quarterly net loss of $6 billion Thursday, its eighth quarterly loss in a row. GM's loss figure for the same period in 2008 was $3.3 billion.
AP Interview: CEO says GM can still avoid bankruptcy despite daunting restructuring listMay 4th, 2009 AP Interview: GM CEO says bankruptcy avoidableDETROIT — With just a month left to check off an almost insurmountable list of restructuring moves, General Motors Corp.'s new CEO says it's still possible that the company can finish everything and avoid following Chrysler into bankruptcy. But don't think Fritz Henderson, who took over the troubled automaker when Rick Wagoner was ousted by the Obama administration, is ignoring what's going on with Chrysler LLC in front of a U.S.
General Motors' employee stock fund sells off all company shares as bankruptcy threatensApril 25th, 2009 GM employee stock fund dumps all company sharesWASHINGTON — The manager of General Motors' employee stock fund has sold off all remaining shares of the troubled auto maker, which is closing plants and slashing costs in a bid to avoid bankruptcy. General Motors revealed in a regulatory filing late Friday that its employee stock-purchase plan has unloaded all shares of the company in favor of short-term and money market investments.
US Treasury says General Motors has been given an additional $2 billion in federal loansApril 24th, 2009 Treasury lends $2 billion more to General MotorsWASHINGTON — Taxpayers invested another $2 billion in General Motors Corp. this week as the struggling auto giant continued efforts to restructure and avoid bankruptcy court.
Fed grants GM's financial arm to avail bailout fundsDecember 24th, 2008 WASHINTON - The US Federal Reserve Wednesday approved General Motor's financial arm GMAC Financial Services' request to become a bank holding company, allowing it to tap into the $700 billion federal bailout funds. As a bank holding company, GMAC Financial Services will also be able to get emergency loans directly from the central bank of the US.
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