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The Obama administration's auto industry task force failed to fully consider how many jobs would be lost at car dealerships when it rushed General Motors and Chrysler into bankruptcy last year, a ...
This company was formed by the United States government with a 60.8% stake, the federal government of Canada and provincial government of Ontario with an 11.7% stake, the United and Canadian Auto Workers unions VEBA fund [2] with a 17.5% stake, and the unsecured bondholders of General Motors with a 10% stake. [47]
On Sunday, May 31, 2009, bankruptcy judge Arthur J. Gonzalez approved a proposed government restructuring plan and sale of Chrysler's assets. The sale allows most of the assets of Chrysler to be purchased by a new entity in which Fiat would own 20%, and the autoworker's union retirement health care trust (voluntary benefit association "VEBA") 55%, with the U.S. and Canadian government as ...
The Government of the Commonwealth of Pennsylvania is the governmental structure of the Commonwealth of Pennsylvania as established by the Pennsylvania Constitution. It is composed of three branches: executive, legislative and judicial. The state capital of Pennsylvania is Harrisburg.
Additionally, GM is permanently closing its Durability, Corrosion and Teardown departments at its Milford Proving Grounds. In August, GM eliminated nearly 1,500 from its software division globally.
Like many people, Adam Bernard shared the shock of suddenly losing his job one Friday morning on social media. His post on LinkedIn simply stated: “Well, in unexpected news, I was let go from GM ...
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.
Saturn Authorized Service Providers were introduced since the closing of the Saturn brand, available at GM dealers. Saturn Authorized Service Providers are responsible for all aspects of service, including warranty service, on Saturn vehicles. Saturn's last vehicle models were the Saturn Aura, the Saturn Outlook, the Sky, and the Saturn Vue. GM ...