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Chrysler has closed 789 dealerships out of more than 3150, while GM is planning to slash 2500 of its 6300 dealerships. Chrysler's closings represent around ...
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Source: General Motors via Bloomberg News. Pre-launch hype for the Buick LaCrosse began in earnest Monday as General Motors released an interactive Web ...
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By SUZANNE VRANICA As General Motors prepares to drive out of bankruptcy court, Madison Avenue is breathing easier. Late last week, the fallen auto maker ...
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Eight states are challenging General Motors Corp.'s bankruptcy plan, calling it unfair for consumers. Attorneys general from Connecticut, Kentucky, ...
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As of April 24, 2009 (2009 -04-24), GM has received US$15.4 billion in loans from the US Treasury Department under the Troubled Assets Relief Program (TARP). GMAC, a financing company held 49% by GM, has received US$5 billion in loans under the same program, while GM has received an additional US$1 billion loan to buy more equity in GMAC. General Motors Canada, 100% owned by GM, has received a combined loan commitment of C$3 billion from the Canadian and Ontario governments.
General Motors filed for a government-assisted Chapter 11 bankruptcy protection on June 1, 2009, in the federal court in Manhattan, New York, with a plan to re-emerge as a smaller and less debt-burdened organization in several months. As ranked by total assets, the bankruptcy is the fourth-largest in U.S. history, following Lehman Brothers Holdings Inc., Washington Mutual and WorldCom Inc.
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