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The new GM company, after the purchase of most of the assets of "old GM" is not a participant in the continuing bankruptcy proceedings of Motors Liquidation Company (Old GM). The "new GM" is mostly owned by the United States Government. [50] [61] [88] [89]
The General Motors bankruptcy case was formally entitled In re General Motors Corp., case number 09-50026 in the Southern District, Manhattan, New York. [8] General Motors was represented by the New York specialist law firm Weil, Gotshal & Manges. The United States Treasury and an ad hoc group of the bondholders of General Motors Corporation ...
On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.
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Alex C. Mair began discussions of a "revolutionary new" small car project, codenamed Saturn, in June 1982, soon after the GM J platform was introduced internationally. In November 1983, the Saturn idea was publicized by General Motors' Chairman Roger B. Smith and GM's President F. James McDonald. Twelve months later, the first Saturn ...
It doesn't look to be going well for General Motors' management in Europe. Earlier this week, GM Vice Chairman Steve Girsky kicked off a return to negotiations with German labor leaders by ...
That's because Swedish car-maker Saab is a GM subsidiary -- one that just filed for bankruptcy. GM's viability is also. Sweden has been in the news lately. And so has General Motors (GM). ...
Chrysler filed for chapter 11 bankruptcy protection on May 1, 2009 [94] followed by General Motors a month later. [95] On June 2, General Motors announced the sale of the Hummer brand of off-road vehicles to Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a machinery company in western China, a deal which later fell through.