TagsTagsGeneral Motors went on the public market today, with one of the largest IPOs in US history, and from all accounts it was a monster success. GM is well on track to a full recovery; they've returned billions of dollars in bailout money to the federal government, and it looks like ...
Auto Industry, General Motors, Bailout, Economy, Republican Party
Some really good news for a change, from the US automobile industry: Washington - General Motors Co will announce this afternoon that it is buying back all of the Treasury Department's $2.1 billion in preferred stock, people briefed on the matter said. The move is another step by the Detroit automaker ...
General Motors is on the fast track to bankruptcy: DETROIT/BERLIN (Reuters) – General Motors Corp appeared to clear a major hurdle on its way to filing the kind of bankruptcy it favors on Thursday by persuading major bondholders to accept a sweetened deal — even as talks over the carmaker’s ...
Now he tells us: GM’s New CEO: Bankruptcy May Be Best Option for Automaker. General Motors’s new chief executive told CNBC that filing for Bankruptcy may be the best option for the struggling automaker. In a taped interview to be aired tonight on NBC Nightly News, Fritz Henderson said that because ...
Economy, Finance, Business, Financial Crisis, General Motors, Auto Industry
General Motors CEO Rick Wagoner has presided over a steady decline in sales and market share for the past 8 years, and now Barack Obama has asked him to step down as part of the plan to restructure the auto industry. The Obama administration asked Rick Wagoner, the chairman and ...
Economy, Finance, Business, Financial Crisis, General Motors, Auto Industry