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Last fall, I suggested that General Motors Corp. (GM) ought to follow a six point restructuring plan. One of those steps was to can GM's CEO Rick Wagoner. Under his tenure, which began in 2000, GM ...
On March 29, 2009, Wagoner agreed to immediately resign his position as GM chairman and CEO, as part of the Obama administration deal to provide GM with further short-term financing. The following day, the US government rejected GM's initial restructuring plan and gave the company 60 days to come with a new proposal or be forced into bankruptcy.
Mary Teresa Barra (née Makela; born December 24, 1961) is an American businesswoman who has been the chair [1] and chief executive officer (CEO) of General Motors since January 15, 2014. [2] She is the first female CEO of a 'Big Three' automaker. [3] [4] [5] In December 2013, GM named her to succeed Daniel Akerson as CEO. [3]
On July 19, 2013, President Obama gave a speech in place of the usual White House daily briefing normally given by White House Press Secretary Jay Carney. In the 17-minute speech, President Obama spoke about public reaction to the conclusion of the George Zimmerman trial, racial profiling, and the state of race relations in the United States. [46]
Dear Mr. President: I know you're proud of the effort made by your team back in 2009 to save General Motors (GM). You should be: You took a lot of flak for it at the time, but it has worked out ...
Former President Obama was ripped by conservatives after he delivered his first speech since Donald Trump was elected to return to the White House. 'Take a seat': Obama ripped for being on 'high ...
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 ...
According to an April 2014 report of the Special Inspector General of the Troubled Asset Relief Program, the U.S. government had lost $11.2 billion (~$14.2 billion in 2023) in its rescue of General Motors. The U.S. government spent $50 billion to bail out GM, meaning it recovered 77.6 percent of its investment amount. [7]