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General Motors was represented by the New York specialist law firm Weil, Gotshal & Manges. The United States Treasury was represented by the United States Attorneys Office for the Southern District of New York and Cadwalader, Wickersham & Taft LLP. An ad hoc group of the bondholders of General Motors Corporation was also represented in court. [47]
Jacobson said GM will not change its business strategy, noting that whatever Trump decides to do is still speculation. "We’ve been pretty consistent that we’re not looking to next quarter ...
General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker's decision to do so was still a disappointing end for an operation that ...
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 ...
Wheaton said dropping brands is likely required, much like the U.S. government forced GM to get rid of Hummer, Saab, Pontiac and Saturn during its bankruptcy proceedings in 2009.
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.
A former leader at three top U.S. automakers has shared his no-nonsense take on America’s attempt to transition to electric vehicles (EVs). Bob Lutz, former executive at General Motors, Ford and ...
The initial strike was focused on the Michigan Assembly Plant in Wayne, Michigan, owned by Ford Motor Company; the Toledo Complex in Toledo, Ohio, owned by Stellantis; and Wentzville Assembly in Wentzville, Missouri, owned by General Motors. [30] Approximately 13,000 workers are going on strike as of September.