General Motors
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I don't have a full account, so this is just the teasers for each article. Of course, you may not want to keep reading anyway. http://ebm.e.ccialerts.com/c/tag/hBJIeVoAG...&RAF_TRACK= The FLA senator is an idiot!
Last reply by smk4565, -
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Bailout Watch: German Edition From AutoBlog While German Chancellor Angela Merkel and her Finance Minister Peer Steinbrueck were still in DC, an urgent e-mail was sent to Carl-Peter Foster, chief of GM Europe. Also on the To: line: Hans Demant, head of GM’s German Opel subsidiary. They were ordered to get their glutei maximi to Berlin. They were furthermore told to bring Opel’s workers council chief Klaus Franz along. Bloomberg reports that the sit down’s set for the Kanzleramt, right after mammy comes home and emerges from her Airbus 310 (named “Konrad Adenauer,” after Germany’s first chancellor, who’s busy rotating in his grave). Anywhere between €1b and €2b …
Last reply by FUTURE_OF_GM, -
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General Motors' European unit "won't provide a single cent" of the aid it might get from the German government. General Motors might be burning its way through cash but it won't get a chance to even singe any bailout money that its European subsidiary might get. Adam Opel has said it will keep any funding it gets from the German government, even as its ailing parent company has revealed it is close to bankruptcy. "We as employees will make our contribution in this difficult time to ensure future investments," said Klaus Franz, deputy supervisory board chairman of GM in Europe said Saturday. "But we won't provide a single cent, which then would be burned from GM." O…
Last reply by z28luvr01, -
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http://www.camaroz28.com/forums/showthread.php?t=648766 A very good read. If you think GM's irrelevant, you better think again.
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http://www.foxnews.com/story/0,2933,452990,00.html
Last reply by VenSeattle, -
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Direct link here -------------------------------------------------------------------------------- November 14, 2008 Chances Dwindle on Bailout Plan for Automakers By DAVID M. HERSZENHORN WASHINGTON — The prospects of a government rescue for the foundering American automakers dwindled Thursday as Democratic Congressional leaders conceded that they would face potentially insurmountable Republican opposition during a lame-duck session next week. At the same time, hope among many Democrats on Capitol Hill for an aggressive economic stimulus measure all but evaporated. Democratic leaders have been calling for a package that would include help for the auto compani…
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http://www.bloomberg.com/apps/news?pid=206...&refer=home Nov. 14 (Bloomberg) -- Rick Wagoner's 31-year career may fall victim to the mistakes of the industry and his own, even if General Motors Corp. survives. The GM chief executive officer unleashed scrutiny of his record after asking for a government bailout to keep the Detroit automaker in business. Now, his departure may be a necessary condition of any federal rescue, business leaders and lawmakers say. ``Management needs to be replaced,'' said Robert Crandall, former chairman and CEO of American Airlines parent AMR Corp. ``The fact is that the management as a whole has had lots of opportunities to fix thi…
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http://www.theglobeandmail.com/servlet/sto...y/National/home
Last reply by Chicagoland, -
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http://www.nytimes.com/2008/11/12/opinion/...amp;oref=slogin yup, one year. see end of article.
Last reply by Chicagoland, -
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This is THE END. The auto industry is dead. Or just about. It's amazing the stories you hear about car manufacturers from where I sit, in an educated mid-Michigan community that is perfectly suited to retrain autoworkers into just about anything technical that is not auto-related. Governor Granholm was interviewed by the national media all week long, talking about how "the collapse of the auto industry would have a ripple effect throughout the nation." The entire Michigan congressional delegation -- Republicans, Democrats, Communists, Socilaists, all of 'em -- sent a joint letter to the legislative leaders and President Bush asking for help. Automaker leaders o…
Last reply by Chicagoland, -
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A story from the Crain sisters, Automotive News and Autoweek, reports that General Motors has cut product development spending for 2009 in an effort to save approximately $1.5 billion next year. Reductions in engineering, design and R&D work on future models has been rumored for the last week, possibly causing the delay (or death) of a few select models. However, the Camaro and Volt haven't been affected by the cuts (no surprise, since they're all but complete), and the new Buick LaCrosse, Chevrolet Traverse and Cadillac CTS Wagon should hit the market has planned, late next year and early in 2010. After the story surfaced earlier today, the Detroit News got in on t…
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full article here November 16, 2008 OP-ED CONTRIBUTOR What's Good for G.M. Is Good for the Army By WESLEY K. CLARK Little Rock, Ark. AMERICA'S automobile industry is in desperate trouble. Financial instability, the credit squeeze and closed capital markets are hurting domestic automakers, while decades of competition from foreign producers have eroded market share and consumer loyalty. Some economists question the wisdom of Washington's intervening to help the Big Three, arguing that the automakers should pay the price for their own mistakes or that the market will correct itself. But we must act: aiding the American automobile industry is not only an economic…
Last reply by Camino LS6, -
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Back in 2005, Opel opened in all respects, an embassy in Berlin, to be able to wheel and deal with the German politicians as they saw fit. GM, needs to set this up in Washington, D.C. as far as I am concerned, to help with North American Auto issues. For those that have visited the German capital, this is the Opel building you see there. One that is near and dear to me. German Chancellor Gerhard Schröder opens ‘Opel in Berlin’ 2002.05.14. Rüsselsheim/Berlin. The German Chancellor, Gerhard Schröder, along with the Mayor of Berlin, Klaus Wowereit, and the Chairman of Opel's Board of Management, Carl-Peter Forster, today opened ‘Opel in Berlin', Opel's new coordinati…
Last reply by Camino LS6, -
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thestreet.com A reasonable explanation for some of the chaos being reported. Perhaps Bush should bomb Iraq to get GM/Ford off the front pages?
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Wagoner on resigning in exchange for Fed aid: "I don't think it'd be a very smart move". 1 2
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Wagoner: GM needs federal help before Obama takes office Jamie LaReau Automotive News November 10, 2008 - 4:40 pm ET DETROIT -- General Motors CEO Rick Wagoner says GM's financial distress is so dire that it must line up financial assistance from Washington before President-elect Barack Obama takes office in January. "This is an issue that needs to be addressed urgently," Wagoner said during an exclusive interview today with Automotive News. Now is the time to "overshoot, not undershoot" when it comes to assistance for the auto industry, he added. In return for financial aid, General Motors is willing to offer the government preferred stock, set limits on e…
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valid question.
Last reply by smk4565, -
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HYUNDAI, HONDA
Last reply by SoCalCTS, -
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I don't feel overly comfortable getting into prolonged political discussions, but I honestly think that Barack Obama truly does want to help the Big 3 auto makers. I know he needs votes in key Midwestern states, but I also think he actually will try and do something about the predicament our auto industry is in if elected. (This particular discussion starts at around minute 2:20) Thoughts? http://www.youtube.com/watch?v=RV1Yq_KEAHQ
Last reply by regfootball, -
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This is really starting to worry me....
Last reply by Chicagoland, -
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No new Buick, no Lutz. Saving it for NAIAS http://news.moneycentral.msn.com/ticker/ar...8&Symbol=GM
Last reply by loki, -
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Forecast rattles auto industry GREG KEENANAUTO INDUSTRY REPORTER , From Tuesday's Globe and Mail http://ctv2.theglobeandmail.com/servlet/st...BN/ctv-business A collapse to a 25-year low in U.S. auto sales next year could imperil not just the Detroit Three but also scores of suppliers and thousands of dealers. The forecast of sales plunging to 11.7 million vehicles next year comes from beleaguered General Motors Corp., but it illustrates the dangers for all Detroit auto makers and every other entity in the industry. The GM forecast would represent the lowest level of sales since the industry was climbing out of the recession of the early 1980s. “That will have…
Last reply by regfootball, -
Is GM stock worth a little more than $3 now? Somebody just posted it on another forum, I thought it was 4 bucks...? Amazing how bad the automakers are doing for that to be thinkable IMO. What the heck is going on?
Last reply by smk4565, -
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Here is a link to the wonderul, well researched article in the Toronto Star today: www.thestar.com/Business/article/533168 Not sure if that is how you do it, but that is the article in this rag today. This rag never ceases to amaze me with their hatred of the U.S., and Detroit. Anyway, here is the text of the email that I sent this ass-clown, David Olive: I used the description of: Toyota called: your check is in the mail, followed by, "I am speechless. Your meager understanding of the auto industry is breathtaking. I don't quite know where to start. I guess the part that angered me the most is where you give the illusion that Washington someho…
Last reply by regfootball, -
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Inside Line article
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From AN: Bradford Wernle DETROIT -- General Motors is calling off talks with Cerberus Capital Management LP about a possible acquisition of Chrysler LLC. GM CEO Rick Wagoner, without naming Chrysler specifically, confirmed the end of the negotiations during a conference call with journalists today. "We have recently explored the possibility of such an acquisition based on the analysis that it would strengthen our industry position in the long term," Wagoner said. "We've concluded at this particular time that we are better off to put 100 percent of our efforts on the liquidity side. We've set aside such (acquisition) actions as a near term priority." Chrysler s…
Last reply by FUTURE_OF_GM, -
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I don't think it would stop me. If GM or Ford etc. goes bankrupt, its said that it would kill sales. But assuming financing was there, would you feel comfortable buying their car even knowing that they were going under? Discuss the reasons.
Last reply by FUTURE_OF_GM, -
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you know, if GM goes bankrupt, or is using it as a threat to leverage cash from the US Govt..... could you make a case to say the CANADIAN GOVERNMENT should chip in also? or can you use bankruptcy in the US as a threat to coerce some cash out of Canada too? of if the ship sinks, does that mean all of the Canadian operations goes down too? I am curious to hear how this affects the folks north of Pembina.
Last reply by regfootball, -
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http://news.moneycentral.msn.com/ticker/ar...7&Symbol=GM
Last reply by Robert Hall, -
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"Even if GM implements the planned operating actions that are substantially within its control, GM's estimated liquidity during the remainder of 2008 will approach the minimum amount necessary to operate its business."
Last reply by ZL-1, -
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Rumors of tomorrow's "important changes" at GM have approached a fevered pace, but the latest one we've heard is coming directly from someone who's directly related to someone who could be directly affected if the rumor is true. So, it must be true, right? Anyway, we've just been told by the family of a Chevy Volt engineering team member that not only is the untouchable Volt program on hold, GM's even letting some of the engineering team, aka "the chosen people," go. Hit the jump for the full rumor. "My uncle works on the Volt as an engineer. He's getting laid off Friday because apparantly the project (aka VOLT) is on hold indefinitely." We've put in a call to GM PR t…
Last reply by Bimmer325, -
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http://news.yahoo.com/s/nm/20081028/bs_nm/us_chrysler_gm_6 There's got to be some irony in there about Taxpayers who own Toyota's paying for this....
Last reply by Intrepidation, -
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Jerry Flint has come up with some ideas which will, in his opinion, help to save General Motors. To read his column from Forbes.com, click here.
Last reply by black02, -
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Jamie LaReau Automotive News November 3, 2008 - 12:22 pm ET UPDATED: 11/3/08 3:13 p.m. EST DETROIT -- General Motors said today it is starting its annual Red Tag sale early this year. The sale, which typically begins just before Thanksgiving weekend, will start tomorrow and run until Jan. 5. GM also has launched a pair of direct-mail incentives programs, dealers said. In a sales call to analysts and the media, GM marketing chief, Mark LaNeve confirmed GM would be starting the Red Tag sale Nov. 4. "To get things going we're going to move up our traditional Red Tag sale," says LaNeve, GM's vice president of vehicle sales, service and marketing. "We typicall…
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TOM WALSH Auto merger would limit the bleeding BY TOM WALSH • FREE PRESS COLUMNIST • November 4, 2008 Forget about whether General Motors Corp. acquiring Chrysler LLC makes any sense. Don't get caught up in the semantic debate about whether federal intervention in the fates of Chrysler, GM and Ford Motor Co. is a bailout, a rescue or descent into a socialist hellhole. The drama over Detroit's future, which resumes after a brief intermission for today's election, boils down to two words: damage control... http://www.freep.com/article/20081104/COL0...1014/BUSINESS01 After the dust from the General Election settles I expect "President Obama" (fingers crosse…
Last reply by longtooth, -
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Automotive News November 3, 2008 - 12:06 pm ET UPDATED: 11/3/08 3:57 p.m. EST DETROIT -- Auto sales at General Motors, Ford Motor Co. and Chrysler LLC plunged in October, dragging the U.S. industry to a 32 percent decline and its weakest performance in a quarter century. GM plummeted 45.1 percent from a year earlier. Ford sold 132,248 cars and trucks, down 32 percent. Toyota Motor Corp. outsold Ford on its way to its 23 percent drop. Daimler AG and American Honda were down more than 24 percent, while Nissan, Hyundai and Chrysler were all down at least 33 percent. "If you adjust for population growth, this is probably the worst industry sales month in the post…
Last reply by CARBIZ, -
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Chrysler-Nissan talks halt No more discussions scheduled after Cerberus acknowledges preference for a sale of Chrysler to GM deal ,sources say. Talks between the Renault-Nissan alliance and Cerberus Capital Management LP have stopped as both sides acknowledged Cerberus's preference to conclude a deal for Chrysler LLC with General Motors Corporation; according to sources familiar with the situation. No more talks between Cerberus and Renault-Nissan negotiators have been scheduled, the sources said Friday , although the parties have not been ruled out discussions in the future Cerberus and Nissan declined to comment. But sources close to Cerberus have said …
Last reply by Chicagoland, -
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DETROIT, Nov 1 (Reuters) - Talks on a deal to sell Chrysler LLC to Nissan Motor Co and Renault SA have halted because the No. 3 U.S. automaker's owner favors a deal with General Motors Corp), The Detroit News reported on Saturday. Citing sources familiar with the situation, the newspaper said no further talks have been scheduled between private equity firm Cerberus Capital Management LP, which sees a deal with No. 1 U.S. automaker GM as financially more advantageous and better for the struggling U.S. auto industry. In an earlier report, The Detroit News said the Nissan-Renault alliance had proposed buying 20 percent of Chrysler. A spokesman for Cerberus declined to …
Last reply by CMG, -
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http://news.moneycentral.msn.com/ticker/ar...8&Symbol=GM GM and Chrysler have been in talks on a possible merger, but according to sources any deal will have to wait until after the U.S. presidential elections on Nov 4 as the Bush administration ruled out providing government funding for it.
Last reply by FUTURE_OF_GM, -
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General Motors pulls out of Portugal 1/11/2008 Car manufacturers General Motors have announced that, as of November 1st, they will be terminating their car loan services with seven European countries, including Portugal and Spain, due to the current economic crisis. Russia, Finland, Greece, Norway and Slovakia will also see General Motors’ withdrawal. This measure, the result of a reduction of company capital, was announced one month after the company claimed to be increasing the number of requisite criteria to apply for a loan, as well as the intention to increase taxes applied to retailer’s loans to their consumers. Recent bankruptcy of various investment inst…
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Link: http://www.msnbc.msn.com/id/21134540/vp/27473279#27473279
Last reply by CMG, -
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October 29, 2008 - 1:00 pm ET UPDATED: 10/29/08 5:03 p.m. EDT DETROIT (Reuters) -- General Motors and Cerberus Capital Management LP have resolved the major issues in a proposed GM-Chrysler merger but the final form of any deal will depend on the financing and government support available, sources familiar with the talks said today. Both sides have agreed that GM CEO Rick Wagoner would lead the combined automaker, the sources said. A merged GM/Chrysler would be the largest automaker by global sales. Another source familiar with the talks told Automotive News today that the report of agreements on the major issues was not accurate. The Reuters report was backed…
Last reply by CMG, -
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October 30, 2008 - 6:45 pm ET WASHINGTON (Reuters) -- The U.S. Treasury Department is not negotiating with General Motors and the owners of Chrysler LLC on a request to provide direct government aid to their proposed merger, a Bush administration official said today. Instead, the administration is working to speed the distribution to automakers of $25 billion in factory retooling funds authorized by Congress last month, the official told Reuters. Earlier this week, industry sources said GM had asked for roughly $10 billion in an unprecedented government rescue package to support its acquisition of Chrysler from Cerberus Capital Management LP. The request was view…
Last reply by loki, -
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DETROIT — General Motors is in preliminary talks about a possible merger with Chrysler, a deal that could drastically remake the landscape of the auto industry by reducing the Big Three of Detroit automakers to the Big Two. The talks between G.M. and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago, and the negotiations are not certain to produce a deal. Two people close to the process said the chances of a merger were “50-50” as of Friday and would most likely still take weeks to work out. A merger would be a historic event, with two of the most iconic names in American industry coming together to survive in an incr…
Last reply by CARBIZ, -
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From Edmunds... No more Fullsize BOF GM SUV's? I really would like to doubt this if this is true it is so stupid, they still sell pretty well considering there size and fuel economy. I mean it is a simple spin-off of a Sierra/Silverado don't tell me they are willing to exit this market even though it is shrinking and still own it just like they did 10 years ago.
Last reply by FUTURE_OF_GM, -
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Man, I get goosebumps just watching this! Especially the parts where you're in the passenger seat. Edit: Whoops...just realized I put this in the wrong forum. I thought i was in the lounge.
Last reply by BuddyP, -
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AP GM extends shutdown of Delaware assembly plant Friday October 24, 4:38 pm ET By Tom Krisher, AP Auto Writer GM extends shutdown of Delaware assembly plant due to sagging demand for 2-seat roadsters http://biz.yahoo.com/ap/081024/gm_factory.html?.v=2 I guess the niche is full for now in Europe and the Pan-Asian Pac-Rim sites that Daewoo serves. Good grief.
Last reply by haypops, -
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By Kevin Krolicki DETROIT, Oct 26 (Reuters) - General Motors Corp and Chrysler LLC's owners are discussing a merger that would keep some of Chrysler's operations intact and save jobs with the aim of securing U.S. government financial aid the high-stakes deal would require, people familiar with the talks said on Sunday. A merger under these terms would give control to GM but leave Chrysler's owner, Cerberus Capital Management, with stake of less than 10 percent in the combined company, according to the sources who were not authorized to discuss the talks publicly. Such a merger would shake up the U.S. industrial landscape and create an automaker with about a third of…
Last reply by FUTURE_OF_GM, -
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Here are two takes on the same story flying around GM today. http://www.leftlanenews.com/gm-to-absorb-c...sorbed-amc.html http://www.detnews.com/apps/pbcs.dll/artic...0399/1001/rss21
Last reply by Chicagoland, -
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The Article:Backseat Driver Let's Bail Out GM Jerry Flint 10.22.08, 6:00 PM ET Forbes Magazine dated November 10, 2008 http://www.forbes.com/free_forbes/2008/111...artner=yahoomag Seems as compelling a case and rationale as I've ever read.
Last reply by daves87rs, -
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Follow the money Merging the two sickly car firms makes little sense—except for one thing OBJECTIONABLE, but necessary. The description by Hank Paulson, America’s treasury secretary, of the federal rescue package for America’s banks, is a mantra that may soon be repeated in boardrooms across the land as recession-hit firms survey their dwindling options for survival. Few areas of the economy have been battered harder or for longer than the car industry, especially Detroit’s Big Three. So the news which surfaced at the end of last week that General Motors (GM) and Cerberus Capital Management, the private-equity outfit that was paid $700m by Daimler to take Chrysler off …
Last reply by CARBIZ, -
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So guys.....I don't have a link to any website, just info that our GM and Sales Managers told us this morning........ Effective today, GMAC is implementing these new finance restrictions: 1) GMAC will not finance or lease any consumer with less than a 700-fica score.....period. 2) GMAC will not finance or lease any car deal for anything more than dealer invoice amount....that amount including sales tax and fees. The way I see it, in order to finance or lease a deal through GMAC, a dealer has to sell a car for invoice (or less?).....and the customer has to come up with down payment to cover taxes and fees. OR, if a dealer sells for over invoice, customer has to …
Last reply by CARBIZ, -
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GM exploring sale of aftermarket parts business October 22, 2008 11:05 AM ET Link to Article DETROIT (Reuters) - General Motors Corp is exploring the sale of ACDelco, its global aftermarket parts business, to raise cash, the No. 1 automaker said on Wednesday. GM, which also has its Hummer all-SUV brand and a manufacturing center in Strasbourg, France, on the auction block, has retained Merrill Lynch to assist in the potential sale of ACDelco. In July, the automaker laid out a plan to boost its liquidity by $15 billion by end of 2009. The plan included costs cutting and sales of assets that are expected to raise $2 billion to $4 billion. ACDelco, which provides l…
Last reply by FUTURE_OF_GM, -
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It seems all we have heard lately is doom and gloom with a bit of spice from the new Camaro but that is certainly about it. Well GM Canada (I know I live in Iowa) launched Pontiac Pulse, a very cool site that you can share stories, photographs and information of the Pontiac's of the past. What I am most excited about it the selection of old brochures in PDF's that you can download. Many are list at the buttom under the vehicle but if you change the year around in the new window when your opening the PDF you can get other years. I am going like crazy downloading them and I can get the info on the 1998-1999 Bonneville SSE I plan to get! It is very cool so play around with t…
Last reply by gm4life, -
Uh Oh!
by Camino LS6- 8 replies
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http://www.freep.com/article/20081018/BUSI.../810180305/1014
Last reply by FUTURE_OF_GM, -
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GM to Cut Output at 3 Plants, Affecting 1,500 Workers (Update2) By Greg Bensinger Oct. 16 (Bloomberg) -- General Motors Corp., the largest U.S. automaker, plans to reduce production at two Michigan factories and one in Delaware by Feb. 2 because of declining sales, affecting about 1,500 workers. The cuts are in Wilmington, Delaware, involving 400 workers; Hamtramck, Michigan, with about the same number affected; and Pontiac, Michigan, with about 700 employees, GM spokesman Tony Sapienza said today in an interview. The plants build full-size pickup trucks, large sedans and sports cars that have lost U.S. sales this year through September as GM's total has declin…
Last reply by CMG, -
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http://biz.yahoo.com/ap/081015/gm_hummer.html?.v=1 Interesting move, naming a CEO for Hummer.
Last reply by thegriffon, -
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I just received this e-mail alert notice from Automotive News (I only can get the news alerts, I have no access to the rest of the story or website): Seeing as how several people, myself included, have been upset by GM/GMAC's news this week, maybe this will help out a little? [shrugs]
Last reply by GMTruckGuy74, -
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Amy Wilson Automotive News October 11, 2008 - 12:01 am ET DETROIT -- In a bid to conserve cash, General Motors is giving itself more time to pay its North American non-production suppliers. Effective Oct. 1, GM says it is paying its "indirect" suppliers 60 days after receiving goods or a valid invoice, GM spokeswoman Deborah Silverman said yesterday. The company previously paid those vendors on a "second day, second month" basis or within about 35 days, she said. Despite the longer terms, payments will be made more frequently -- on a weekly basis, rather than once a month. GM has about 10,000 indirect suppliers in North America. They provide services and n…
Last reply by gmcbob, -
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David Barkholz Automotive News October 3, 2008 - 4:30 pm ET DETROIT -- General Motors is ending production of its slow-selling mid-sized SUVs on Dec. 23, two years earlier than announced in June. GM is pulling ahead the closure of its Moraine, Ohio, assembly plant because of market conditions, said GM spokesman Chris Lee. Moraine builds the Chevrolet TrailBlazer and TrailBlazer SS, GMC Envoy and Envoy Denali and Saab 9-7X. In June, GM said it would close Moraine in 2010 or sooner, Lee said. The closing will idle about 1,100 hourly workers represented by the IUE-CWA electrical workers union. An additional 100 salaried employees work there, Lee said. U.S. sal…
Last reply by gmcbob, -
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Automakers post grim September sales By Matt Andrejczak, MarketWatch Last update: 2:46 p.m. EDT Oct. 1, 2008Comments: 8SAN FRANCISCO (MarketWatch) - A shaky economy and constricted credit market took a steep toll on September auto sales, with the industry rolling out numbers Wednesday every bit as gloomy as analysts had warned they would be. http://www.marketwatch.com/news/story/weak...mp;siteid=yhoof Sail on o' great ship of state. Well, it's actually the same leaky boat, but all are on board.
Last reply by A Horse With No Name, -
What happened to the thread about GM's C.O.O. getting to the bottom of unacceptable losses. I tried to locate it via search but could not. Then I clicked on it in my browsers history but find that the board returns an error message that files may be missing. What gives?
Last reply by FUTURE_OF_GM, -
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The Employee Pricing Scheme is over so now it appears that a person shopping for a new 2008 would have to pay more for one than they would have paid in September. Something is fundamentally wrong with that picture. The incentives available on the 2008 are tantamount to a joke, given that these cars are held over; the 2009's are already out. What is GM thinking? What are these dealers thinking? That the economy will suddenly improve and people will flood GM showrooms, willing to be pounded on high gross profit deals? There is no reason why they can't sell a new 2008 now for the same employee pricing less current incentives, but they won't. I hope that all these jerks go o…
Last reply by rivieraranch, -
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NEW YORK - A person with knowledge of General Motors’ plans said Friday that the company is likely to announce more production cuts and possible plant closures as early as next week. The person did not want to be identified because plans are not finalized. GM has said previously it would make cuts in engine, transmission and metal stamping operations to correspond with four pickup truck and sport utility vehicle plant closures announced in June. Shares of GM hit their lowest price since 1949 in the opening minutes of trading on wall Street Friday as financial turmoil and a weakening global auto market heightened worries that the automaker may be unable to pull out of …
Last reply by GXT, -
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I was over at Digital Corvettes last night and a headline popped up: ZR1 Production Halted. ALL ORDERS STOPPED OR PLACED IN LIMBO or flat out CANCELLED!!!! See Below: http://www.digitalcorvettes.com/forums/sho...584#post1244584 The world may be coming to an end!!!
Last reply by Lamar, -
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- 44 replies
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I found this article on Motor Authority this morning. I don't know how much of it is based on fact or just speculating and wishful thinking. undefined Source: Motor Authority
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AP GM to put French factory, Hummer brand up for sale Wednesday September 24, 4:38 pm ET By Tom Krisher, AP Auto Writer GM treasurer says company will put Strasbourg, France, factory and Hummer brand up for sale DETROIT (AP) -- General Motors Corp.'s treasurer said Wednesday that the automaker is planning to put its Strasbourg, France, manufacturing operation and its Hummer truck brand up for sale, and it may announce more asset sales later this year. ADVERTISEMENT Company Treasurer Walter Borst said in a slide presentation at the Deutsche Bank Leveraged Finance Conference that the company expects to distribute marketing materials for both operations in …
Last reply by Chicagoland, -
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I just picked a 1st Edition 1983 Hardback edition for $1.95 on Amazon... The first few pages could apply to almost any set of products from GM until about 2005. Scary.
Last reply by Chicagoland, -
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http://www.mercurynews.com/breakingnews/ci_10658432
Last reply by Satty, -
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US NEWS story A $25 Billion Lifeline for GM, Ford, and Chrysler September 24, 2008 05:45 PM ET | Rick Newman | Permanent Link In Washington these days, an 11-figure expenditure barely attracts notice. With Congress preoccupied with the massive, $700 billion bailout plan for the financial industry, General Motors, Ford, and Chrysler have finally secured Part One of their own federal rescue plan. A bill set to be passed by Congress and signed by President Bush as early as this weekend—separate from the controversial Wall Street bailout plan—includes $25 billion in loans for the beleaguered Detroit automakers and several of their suppliers. "It seemed like a lot whe…
Last reply by FUTURE_OF_GM, -
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The Employee Pricing Event does not seem to have had any effect on Buick sales in particular. Every lot I visit is chock full of 2008 models, despite this sale having been on for weeks now. After the employee pricing is over on September 30th what is GM going to come up with to move that iron? Is GMAC likely to increase their pull ahead?
Last reply by rivieraranch, -
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Please! It isn't even enough to save General Motors. By Alex Taylor III, senior editor (first paragraph) NEW YORK (Fortune) -- Given the prolonged drum roll of publicity that accompanied the unveiling of the Chevrolet Volt electric vehicle last week, it isn't surprising that any number of onlookers got caught up in the enthusiasm. When people begin referring to it as a "game changer" and a "paradigm shift," it's time to inject a bracing dose of reality... http://money.cnn.com/2008/09/22/news/compa...rce=yahoo_quote Volt is a lightning rod. I am definitely interested in acquiring one for myself when they are ready. I know that internally GM is attempting to price…
Last reply by regfootball, -
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Sure, the Chevrolet Impala and Buick LaCrosse are not the most exciting models in GM's lineup, but the Oshawa, Ontario plant that's been cranking out well-assembled W-platform vehicles for years has won a rare honor from J.D. Power and Associates. Power's Founder's Award is reserved for people or corporations that J.D and friends feel are uncommonly dedicated to continual improvement for customers. Oshawa has racked up plenty of Gold and Silver plant awards, and J.D. Power's senior VP for US automotive practice, Gary Dilts, was on hand to present the award to plant manager Dan Hermer and Chris Buckley, president of CAW local 222. It's a scarce bit of positive news about a…
Last reply by gm4life, -
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Lightning Lap Surprise of the event - Cobalt SS Turbocharged. See the results and it obliterated many a cars more expensive and more revered- mostly RWD and AWD - than the little pocket rocket. . GM has an amazing piece of FWD (68 listen ) machinery in their hands.
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http://www.reuters.com/article/vcCandidate...E48N97V20080924
Last reply by ZL-1, -
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Harry Stoffer Automotive News September 23, 2008 - 6:35 pm ET WASHINGTON -- General Motors' hopes for a $7,500 federal tax credit to help it sell plug-in hybrid Chevrolet Volts may soon be realized. The Senate this evening passed a complex and wide-ranging tax bill, covering everything from extension of credits for wind energy producers to expanded exemptions from the alternative minimum tax. Riding along is a small provision creating a new tax credit for buyers of plug-in electric vehicles – none of which is on the market yet. The credit would start at $2,500 and rise to as much as $7,500 for a light-duty vehicle, depending on battery capacity. A buyer of …
Last reply by longtooth, -
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http://www.smartmoney.com/breaking-news/on...8&afl=yahoo (the link to Sharon's article) An excerpt from the article: By Sharon Terlep Of DOW JONES NEWSWIRES DETROIT -(Dow Jones)- General Motors Corp. (GM) Chief Executive Rick Wagoner has taken to YouTube to convince the world that that the auto maker will emerge from its latest turmoil. Wagoner, in an unusual move for an executive of one of the world's largest companies, used the popular video sharing web site to stress that GM is doing what needs to be done to overcome the challenges facing the company. Chairman/CEO Wagoner's YouTube Link. So far no comments. Wonder if he ever scans this site of ours?…
Last reply by FUTURE_OF_GM, -
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http://blogs.automobilemag.com/6283606/gre...eaks/index.html Waa waa, suck it up Toyota. It sure was great when you were getting tax rebates on the Prius and your government was funding your hybrid engine development. Now it's someone else's time to shine.
Last reply by Camino LS6, -
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By Edgar Ortega Sept. 22 (Bloomberg) -- U.S. regulators added more than 90 companies including General Electric Co. and General Motors Corp. to a list of stocks protected against short sales. The Securities and Exchange Commission today amended its emergency ban on short sales, giving the New York Stock Exchange and Nasdaq Stock Market Inc. authority to add to a list of 799 companies, according to a statement on the agency's Web site. In addition to banks that had been omitted from the SEC initial list such as M&T Bank Corp., the Big Board added companies that generate a large portion of their revenue from providing loans. General Electric got about half its p…
Last reply by Drew Dowdell, -
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BY KATIE MERX • FREE PRESS BUSINESS WRITER • September 21, 2008 As General Motors Corp. prepared for its centennial last week, the Free Press had a chance to talk with its top executives about when they first became aware of the corporation beyond the car brands and how they began their tenures there. Here are their stories: RICK WAGONER, chairman and CEO As a child riding the school bus in Richmond, Va., Wagoner rooted for what is now the other team. But it was through a rivalry with a fellow school-bus rider, and Chevrolet fan, that he became aware of GM as an entity in and of itself. "When I was a kid, whether I was 10 years old or 8 years old, on the school …
Last reply by balthazar, -
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OPG plug-in car site featuring the Volt Got a heads-up email about this today as a contractor for Ontario Power Generation. Seems like maybe somebody else was listening to me rant these past few years about early adoption of plug in cars fuelling increased electricity production. Alright, maybe not... but it's at least nice to see other people think these things as well. Notice that the video shows Malibus as the stand-in for Volts, I guess they're hoping people won't catch that? ...or implying that the Malibu may be plug-in in the future?
Last reply by GXT, -
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Tuesday, September 16, 2008 Daniel Howes Commentary: Questions override future If you want to understand General Motors Corp. today, as it marks its 100th anniversary, consider two data points: The automaker will open three plants this year -- in China, India and Russia -- a testament to a nearly 20-year global expansion that has made GM a formidable and generally profitable player in virtually any market of consequence outside the United States and Canada. And, second, GM is spearheading an industry push to secure at least $25 billion in taxpayer-backed loans from Congress, the culmination of a harrowing three-year race to radically remake an iconic business th…
Last reply by FUTURE_OF_GM, -
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By TAMMY JOYNER The Atlanta Journal-Constitution Sunday, September 21, 2008 Later this week, the final vehicle will roll off the line at the last American auto assembly plant in Georgia. Once that happens on Friday, production at the General Motors plant in Doraville will be over. So, too, will be Eddie Bailey Sr.’s automaking days, just 430 hours shy of 30 years — automatic retirement at GM. As GM factory in Doraville closes, an era rolls away “I can’t complain. It’s been a good living, even after always being on the edge,” said Bailey, who started as a line operator. “They raised my family and helped plan my future and retirement and paid for some of my e…
Last reply by cletus8269, -
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Today on FastLane, we kick off a series of videos entitled, “The Case for GM,” in which General Motors leaders discuss the challenges we’re facing, what we’re doing to address them — and also why we still feel good about our future. This series will work better as a dialogue, so we’d love to hear your responses — and we’ll respond to questions that are offered in the spirit of sincere dialogue. Some of the responses will come from our execs; many will come from GM team members (and yes, we do think of ourselves as a team.) Check back on Monday, when GM Chairman and CEO Rick Wagoner weighs in with his thoughts and stay tuned for more commentary by other GM leaders in the w…
Last reply by Intrepidation, -
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Reports are coming in that the General is considering selling its medium truck operations to Isuzu. This news is totally unconfirmed by both parties, though Isuzu says it would be more than willing to listen if GM felt the desire to talk. All of this comes shortly after Navistar chose not to follow through on its non-binding agreement to purchase the commercial truck unit from General Motors after seeing what's been happening with the U.S. economy and gas prices. After that deal went sour, GM said that it would continue looking for options, so this particular piece of the rumormill pie is anything but surprising. We contacted GM to see if the automaker had anything to s…
Last reply by PurdueGuy, -
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Happy Birthday to the whole GM Family. Here's to the technology that will carry us through to the next 100 years.
Last reply by MRDETROITMETAL, -
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By The Associated Press September 14, 2008 In its 100 years in business, General Motors Corp. has sold nearly a half-billion vehicles across the globe. The top sellers as GM approaches its 100th birthday Tuesday: Vehicle Sales 1. Chevrolet Impala 14 million plus 2. Opel/Vauxhall Corsa 12 million plus 3. Opel/Vauxhall Astra/Kadett 12 million plus 4. Oldsmobile Cutlass 11.9 million 5. Opel/Vauxhall Vectra 6.5 million 6. Chevrolet Cavalier 6.2 million 7. Buick LeSabre 6.0 million 8. Chevrolet Camaro 4.8 million 9. OpelAscona/Vauxhall Vectra 4.4 million 10. Pontiac Grand Am 4.0 million Link: http://www.boston.com/business/articles/20...me_top_sel…
Last reply by cletus8269, -
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Maybe this would fit better in "Industry News" since it potentially is a industry-wide innovation, but since the headline refers to GM I decided to post it here. Link
Last reply by daves87rs, -
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By The Associated Press 12:04 AM CDT, September 15, 2008 During General Motors Corp.'s 100 years in business, its models have touched the lives of millions. Here is the company's list of its top 10 most important production vehicles: 1. EV1 1996 First modern electric production vehicle 2. Pontiac GTO 1964 First muscle car 3. Chevrolet Bel Air 1955 Icon of new style era 4. Chevrolet Corvette 1953 First Fiberglas-body sports car 5. Saab 9-2 1950 Functional and aerodynamic 6. Opel Olympia 1936 Body and frame were single unit 7. Cadillac V-16 1930 Powerful engine established Cadillac brand 8. LaSalle 1927 First production car by professional designer 9.…
Last reply by balthazar, -
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By SHARON TERLEP and NEAL E. BOUDETTE The Wall Street Journal A few months ago, General Motors flooded the prime-time airwaves with commercials introducing the G8, a big, powerful sedan that is supposed to re-energize GM’s Pontiac brand. But the ad blitz hasn’t had much effect. In August, GM’s 2,712 U.S. Pontiac dealers sold only 1,915 G8s — not even one per dealer. GM has problems on many fronts, including high gasoline prices, falling truck sales and billions in losses. The G8 illustrates one problem that’s often overlooked: The automaker’s lineup contains many vehicles that deliver barely any bang for the buck. Consider the Saab 9-5 sedan. GM promotes its Swe…
Last reply by longtooth, -
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THE Chevrolet Volt is expected to be the icing on General Motors’ 100th birthday cake this week. The much-promoted sedan, which will operate as an electric car in typical local driving, is intended to provide a jump-start for the company’s second century. The timing of the Tuesday event is fortuitous, for much more is riding on the Volt than whether a new model using experimental technologies will be a hit. For if the Volt succeeds, it could put the troubled company on a whole new path after 10 decades tethered to the internal-combustion engine. If it fails, it could drag G.M., and perhaps the entire struggling American auto industry, even further behind Asian competito…
Last reply by Robert Hall, -
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By The Associated Press 12:04 AM CDT, September 15, 2008 As General Motors Corp. prepares to celebrate its 100th anniversary, some key events in the giant automaker's history: Sept. 16, 1908 - General Motors Company founded by William C. Durant. 1909 - GM sells 25,000 cars and trucks. 1910 - Durant brings the Buick, Olds, Pontiac, Cadillac, Champion ignition, AC spark plug and other companies into GM. Sales rise 60 percent, but earnings lag. Durant is ousted by bankers as company sinks into debt. 1911 - Electric self-starter first appears on a Cadillac. 1916 - GM incorporated as General Motors Corp. Durant, after founding company that builds Chevrolets,…
Last reply by FUTURE_OF_GM, -
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I'm not sure how much these sketches really reveal about the design of Suzuki's upcoming midsize sedan. Looking at these sketches is still not the same as viewing actual photos. A link to the Motor Authority website is provided below so you can see for yourself. undefined
Last reply by thegriffon, -
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I have been investing up to my neck in GM stock the last 4 months, that plus what I already own or what GM has granted me over the years, has made me a small fortune today. Today was a good day on Wall Street.
Last reply by 2QuickZ's, -
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- 73 replies
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Souce: Autoblog
Last reply by rivieraranch, -
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Updated: Sun Sep. 07 2008 4:08:05 PM ctvtoronto.ca The former president of the Canadian Auto Workers Union is unimpressed by a new deal struck by the federal government with General Motors of Canada Limited that will see the company invest $290 million in the struggling Ontario auto industry. Buzz Hargrove said the timing of the deal's announcement, which came just days before Sunday's election call, is "designed simply to buy votes of our members." "I think they will reject this type of politics," Hargrove said Sunday during an interview on CTV Newsnet. The new deal is seen as a win-win situation for both the Conservatives and GM. Two days before the Harper …
Last reply by CARBIZ, -
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GM has launched a Facts and Fiction Website. Please see the link below. Link: http://gmfactsandfiction.com/
Last reply by gmcbob, -
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Just thinking what is definitely coming between now and the end of next year... Buick: 2010 LaCrosse Cadillac: 2010 CTS coupe 2010 CTS wagon 2010 SRX Chevy: 2009 Traverse 2010 Camaro 2010 Equinox 2010 Cruze (or is it coming for '11 for NA?) GMC: 2010 Terrain (Torrent replacement) HUMMER: 2009 H3 pickup (out now or soon?) Pontiac: 2009 G8 GXP 2010 G8 ST 2009 Solstice Targa SAAB: 2010 9-4x 2010 SAAB 9-5 (or '11 MY?) Missing anything?
Last reply by loki, -
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GM ramps up recycling More than 80 plants to be landfill-free after 2010 Robert Snell | Link to Original Article @ The Detroit News WARREN -- General Motors Corp. plans to recycle or reuse all production waste and garbage at half of its factories around the world by the end of 2010, a move that could pour millions of dollars into the automaker's coffers from sales of scrap metal and recycled materials. The commitment to having more than 80 of its factories become landfill-free generates money for financially-strapped GM and dovetails with its commitment to environmentally friendly policies, company officials said during an announcement Friday at the company's tr…
Last reply by FUTURE_OF_GM, -
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Jamie LaReau Automotive News August 25, 2008 - 12:01 am ET DETROIT — General Motors' product lineup will be dramatically different next decade. "It's clear that the size of the American vehicle is going to shift radically, for all kinds of reasons — fuel economy; legislation; the gasoline price, which may or may not come down and may go up over time," Bob Lutz, GM's vice chairman of product development, told Automotive News. "So the U.S. fleet is going to be downsized, and I think the U.S. consumer is no longer going to associate size with luxury and price." GM's small cars will be developed on two global platforms: the Gamma and the slightly larger Delta c…
Last reply by daves87rs, -
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Automotive News September 1, 2008 - 12:01 am ET This year's Pebble Beach Concours d'Elegance celebrated General Motors' centennial with the display of 20 of the automaker's Motorama cars. Today they're called concept cars, but in the '50s they generally were called "cars of the future." One Motorama car in particular made a lasting impression on a young Ed Welburn, now GM's design vice president. "What was the first Motorama car I saw? I was 8 years old. It was the Philadelphia auto show. I was crazy about cars, and the Cadillac Cyclone was there," Welburn said in California at the Pebble Beach event. "It was an incredible experience for me. It is just like I …
Last reply by daves87rs,
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