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General Motors News
Closing of Chrystler and General Motors dealerships
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 ... View Full Article
GM touts Buick LaCrosse that's being made at Fairfax plant
Source: General Motors via Bloomberg News. Pre-launch hype for the Buick LaCrosse began in earnest Monday as General Motors released an interactive Web ... View Full Article
GM Will Hold Ad Budget Steady
Jun 23, 2009 05:04:38
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 ... View Full Article
Eight states challenge GM bankruptcy plan
Eight states are challenging General Motors Corp.'s bankruptcy plan, calling it unfair for consumers. Attorneys general from Connecticut, Kentucky, ... View Full Article
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General Motors Description

General Motors

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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General Motors Summary
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Purchase Date 2007-07-07
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