General Motors CEO Resigns as Part of Bailout Deal
cnn.com — General Motors CEO Rick Wagoner announced his resignation early Monday -- the latest change for the troubled automaker. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government's bailout strategy for the troubled automaker. (Submitted by RunDiggMC) More...
GM's Garage Sale [pics]
images.businessweek.com — General Motors is cleaning out the attic to sell some stuff at the auction house to raise some much needed cash. Around 250 vehicles from GM's "Heritage Collection," will be auctioned by Barrett-Jackson, including presidential limos & a Popemobile. (Submitted by ironeus) More...
GM emerges from bankruptcy
finance.yahoo.com — DETROIT (AP) -- General Motors Corp. CEO Fritz Henderson says the new GM will be far faster and more responsive to customers than the old one. Henderson announced on Friday that the company had emerged from bankruptcy protection far faster than anyone thought it could. (Submitted by chicagojack) More...
Breaking, GM to be bought by the US Government
reuters.com — General Motors Corp's (GM.N) plan for a bankruptcy filing involves a quick sale of the company's healthy assets to a new company initially owned by the U.S. government, a source familiar with the situation said on Tuesday. (Submitted by Jhorra) More...
GM gets to dump its polluted sites
freep.com — When General Motors emerged from bankruptcy, it was freed of obligations for polluted properties that will require millions of dollars to clean up. GM’s unusual, government-engineered bankruptcy allowed the Detroit automaker to emerge as a new company — and shed billions in liabilities, including claims that governments had against GM for polluting (Submitted by naturalpapa) More...
GM to announce Pontiac demise Monday?
leftlanenews.com — General Motors is expected to announce details of its “faster, deeper” reorganization plans early next week. According to an unnamed company source, those plans might include a death sentence for the historic Pontiac brand, which has been hanging on for dear life since GM’s initial assertion that the brand would move to a small niche element of the (Submitted by miketest) More...
General Motors Files For Bankruptcy
gm-volt.com — On June 1st at 8:00 AM, GM filed for section 363 Chapter 11 bankruptcy in the U.S. Bankruptcy Court in New York City. It is the fourth-largest bankruptcy in U.S. history based the company’s $91 billion in assets, and the largest of an industrial entity. (Submitted by ljdmd) More...
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