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On the March 30, 2009 deadline, President Barack Obama declined to provide financial aid to General Motors, and requested that General Motors produce credible plans, saying that the company's proposals had avoided tough decisions, and that Chapter 11 bankruptcy appeared the most promising way to reduce its debts, by allowing the courts to ...
The bear phase in shares of General Motors Company (NYSE:GM) may finally be over. After the stock closed at 52-week lows at the end of October, a strong quarterly earnings report and a ...
Motors Liquidation Company (MLC), formerly General Motors Corporation, was the company left to settle past liability claims from Chapter 11 reorganization of American car manufacturer General Motors. It exited bankruptcy on March 31, 2011, only to be carved into four trusts; the first to settle the claims of unsecured creditors, the second to ...
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That includes today's move, which saw the stock jump by 10.4% as of 3:10 p.m. ET. Investors focus on profits Third-quarter sales of $48.8 billion jumped 10.5% versus the prior-year period, beating ...
The value of that stock, options and pension has been lost in the bankruptcy restructuring that Congress approved for GM. GM sent letters to tens of thousands of their dealers, supplier executives, employees and union members, asking recipients to call and write Congress with several "talking points" about the potential effects of a GM bankruptcy.
The shares, which were trading around $28 before Wednesday, were priced 15% below the 2010 initial public offering price when the company emerged from bankruptcy, she said.
Bernstein downgraded GM stock to Market Perform from Outperform and cut its price target slightly to $53 from $54.50. GM shares were down over 2% in early trading on Monday.