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For fiscal year 2007, GM's losses for the year were US$38.7 billion, (~$54.8 billion in 2023) [18] and sales for the following year dropped by 45%. [19] On November 7, 2008, General Motors reported it had projected it would run out of cash around mid-2009 without a combination of government funding, a merger, or sales of assets. [20]
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 ...
General Motors reported much stronger than expected third-quarter earnings and gave an outlook that puts it on the path for record earnings in 2024 – just a year after a costly strike by members ...
Moreover, GM's full-year 2025 EPS guidance of $11 to $12 was ahead of consensus forecasts for $10.75 but doesn't assume any impact of additional tariffs. In other words, GM didn't offer investors ...
GM said it expects net income will improve a little this year, to a range of $9.8 billion to $11.2 billion. It expects adjusted earnings per share in a range of $8.50 to $9.50, compared with $7.68 ...
The RACER Trust (Revitalizing Auto Communities Environmental Response Trust) was created in March 2011 by a consent decree in the United States Bankruptcy Court for the Southern District of New York to clean up and position for redevelopment certain real properties owned by the former General Motors Corporation (“GMC”) and various GMC affiliates at the time of GMC's bankruptcy in 2009.
GM stock hit a 52-week high of $61.24 in December and is up 47% year to date — far ahead of its Big Three peers. Ford's stock is down 15% in 2024, while Stellantis shares have dropped nearly 40%.
If General Motors is going bankrupt, why are we still pumping taxpayer money into it? Beats me, but now the word is that GM is well on its way to bankruptcy and the government (that's us ...