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General Motors Pittsburgh, also known as Pittsburgh Metal, was a former automotive factory held by General Motors Corporation.The 800,000 sq ft (74,000 m 2) plant operated from 1949 until its closure in 2008 and subsequent demolition.
The program was controversial with dealers, many who didn't want to close their dealership or sell their franchise rights. [23] However, Section 363 of the Federal Bankruptcy Code allowed GM to force thousands of dealerships to forfeit their franchise rights. Dealers accused GM of fraud and theft and formed the Committee to Restore Dealer Rights.
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The UAW had been offered 50% and 40% stakes in the new Chrysler and GM, respectively, while the bondholders would have received 33 cents on the U.S. dollar for Chrysler and 10% of the new GM (an analyst stated that the GM offer would be projected to recover 24 cents on the dollar). [34]
On Nov. 15, GM cut another 1,000 jobs, including 507 jobs at the GM Tech Center based on information provided to the state.“ There’s still a large money-losing EV business and threats like ...
DETROIT — General Motors has temporarily halted vehicle production at two U.S. factories that assemble highly profitable large pickups and SUVs due to impacts to suppliers as a result of ...
On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
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