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By Jeff Karoub DETROIT -- General Motors Co. plans to freeze its U.S. pension plan for longtime white-collar workers and give all salaried employees annual bonuses but not pay raises in an effort ...
General Motors said today it's taking a number of steps to reduce its debt and pension liabilities. The Detroit automaker said it will repay $2.8 billion it owes to the United Auto Workers retiree ...
In 2009, GM had renamed itself as General Motors Company, creating its former appellation: General Motors Corporation. On May 30, 2009, it was announced that a deal had been reached to transfer GM's Opel assets to a separate company, majority-owned by a consortium led by Sberbank of Russia (35%), Magna International (20%), and Opel employees (10%).
One of the most overlooked problems with Ford and General Motors in recent history was their massively underfunded pension plans. Consider that at the end of 2012 Ford's global pension plan was ...
The 2007 General Motors Strike was a labor union strike that lasted three days from September 23 to September 25, 2007, organized by the United Auto Workers (UAW) union. The UAW were engaged in talks with General Motors (GM) to negotiate a new labor contract but were unable to come to an agreement before the deadline. Consequently, 73,000 ...
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]
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The last vehicle produced at the plant, a white Chevrolet TrailBlazer EXT, rolled out on February 20, 2006. The Oklahoma City Assembly plant was the first of 12 GM manufacturing plants that GM planned to permanently close by 2008, to match production with market demand. An estimated 521,400 GMT360 trucks were built at the Oklahoma City Assembly ...