Obama, China, and wishful thinking about American jobs Nov 20, 2009
Even as the US government was bailing out General Motors and Chrysler, the two firms' sales in China were soaring; GM's sales there are almost 50 percent higher this year than last. Proctor & Gamble is so well-established in China that many Chinese think its products (such as green-tea-flavored Crest toothpaste) are Chinese brands. (Christian Science Monitor)
Hyundai goes tiny, too Nov 20, 2009
General Motors, Toyota and Ford are also all planning small cars for India in the next couple of years. Production shift. (iAfrica.com)
For Radley, there will be life after Saturn The new-car business at Saturn of Fredericksburg is winding down, but owner Karen Radley has plans for the facility going forward. Nov 20, 2009
Penske Automotive Group had a deal to buy General Motors Co.'s Saturn brand, but that fell apart in September. GM decided to shut down the Saturn business. (Fredericksburg.com, VA)
Vehicle telemetry: Calling all cars Nov 20, 2009
It was the first time the slowdown feature had been activated by General Motors OnStar service to respond to a carjacking since it became available a year ago. However, 38 other cars have been slowed down remotely after other types of incident, such as the car having been stolen from a dealership, or to prevent a high-speed chase. (The Economist)
Schumpeter: Remembering Drucker Nov 20, 2009
Officials at General Motors doubted if Drucker could find a publisher for his great study of the company, Concept of the Corporation , on the grounds that, as one of them put it, I don t see anyone interested in a book on management. Today the backwater has turned into Niagara Falls. (The Economist)
Lowe's, grocery store could replace Anderson Automotive Group site in Baltimore by 2011 Nov 20, 2009
The development team, LLC, laid out its plans to a group of community leaders Wednesday night at Anderson Auto s General Motors dealership at West 25th and Howard streets after weeks of speculation within the community about the proposal. We are here to talk about a concept, something that we feel is appropriate for your neighborhood, said Rick Walker, principal with WV Urban Developments. (Baltimore Business Journal, MD)
GM Analysts Predict Solid November Sales In The U.S. Nov 20, 2009
DETROIT (November 19, 2009)General Motors top sales analyst says U.S. auto sales in November could top an annual rate of 10 ... General Motors Co. Executive Director of Market Analysis Mike DiGiovanni said the auto industry is having a solid sales month through the first 19 days of November. (KWTX.com, TX)
Loss-hit JAL too big to fail Nov 20, 2009
General Motors in the US ... The situation facing the new government headed by Prime Minister Yukio Hatoyama is somewhat similar to that presented by General Motors when President Barack Obama took office ... With about 17,000 employees, JAL is not quite in the General Motors class. (Asia Times Online)
Chrysler Could Lose More Than 100 U.S. Dealerships Nov 20, 2009
GMAC is partly owned by private equity firm Cerberus Capital Management LP and General Motors Co , while Chrysler Group LLC is now under management control of Italy's Fiat SpA. Cerberus owns Chrysler Financial. (ABC News -- Wire)
Ford, Subaru, VW win insurance industry picks Nov 19, 2009
Chrysler Group LLC received four awards followed by two each for Honda Motor Co. and General Motors Co. ... General Motors Co. and Honda Motor Co. both received two awards. (Yahoo News -- Politics)
GM public offering could come at end of 2010 Nov 19, 2009
General Motors should focus on making money and repaying U.S. Treasury loans before turning to public markets to sell the taxpayer's stake in the automaker, a senior government official said. Ron Bloom, head of the Obama administration's autos task force, nevertheless told Reuters that an initial public offering could come as soon as the fourth quarter of 2010 if the automaker meets its recovery targets and the financial markets are receptive. (MSNBC -- Business)
US wants to fast-track GM IPO Nov 19, 2009
WASHINGTON: The Obama administration wants a fast-track initial public offering of General Motors Co shares to reduce its majority stake in the automaker, a senior official said ... The Obama administration wants a fast-track initial public offering of General Motors Co shares to reduce its majority stake in the automaker, a senior official said. (India Times)
Citi's clunker deal Nov 19, 2009
After months of twisting in the wind, the auto-loan operation has begun to look attractive as the battered car business -- highlighted by government-engineered bankruptcies of General Motors and Chrysler -- begins to show signs of life ... After months of twisting in the wind, the auto-loan operation has begun to look attractive as the battered car business -- highlighted by government-engineered bankruptcies of General Motors and Chrysler -- begins to show signs of life. (New York Post -- Business)
Hummer goes green(er) Nov 19, 2009
Hummer is the latest brand to start implementing fuel-saving technology and, like many of General Motors' premium brands, it's all about biofuel. The company this week said next year's Hummer H3 and H3T models would include an E85 5. (Sydney Morning Herald -- Opinion)
Drive On: Who's driving that Audi TTS? No one! Nov 19, 2009
But there were bits of good news for a lot of automakers, including General Motors and its new Buick LaCrosse ... Entering the market for hot-rod station wagons, General Motors Vice Chairman Bob Lutz has that it's going to build a 556-horsepower CTS-V version of the new Cadillac luxury hauler ... The great thing about the extended-range electric Chevrolet Volt is all the ways that General Motors is finding to milkthe projectfor every electronof public-relations value before the car gets... (USA Today -- Money)
How you can drive a new Corvette and annoy GM Nov 19, 2009
General Motors, you see, has this great marketing program that you've probably heard advertised no less than a thousand times if you watched any football last weekend ... General Motors, you see, has this great marketing program that you've probably heard advertised no less than a thousand times if you watched any football last weekend. (New York Post -- Business)
GM chief on Vauxhall plans Nov 19, 2009
The head of operations for General Motors in Europe has spoken of his plans for maintaining car production at the Vauxhall factories in Luton and Ellesmere Port. GM has dropped plans to sell its European division, which includes Vauxhall. (BBC News -- Business)
Obama warns of 'double-dip recession' Nov 19, 2009
Not an active shareholder' in GMObama also underscored Wednesday that his administration did not want to meddle in the decisions of General Motors. Asked in the Fox News interview if he opposed the use of U.S. government bailout funds for an overseas operation such as Opel, Obama said: "We are not going to meddle in GM's decisions.". (MSNBC -- Business)
As Electric Cars Arrive, Where Will They Plug In? Nov 19, 2009
But over the next 18 months, the number will grow exponentially as automakers like General Motors, Nissan, Ford, Volkswagen and Toyota roll out models that use electricity for all or part of the car's energy ... "There aren't going to be any Beta vs. VHS issues to confuse the introduction of electric cars," says Gery Kissel, a General Motors Corp. engineer who served as chairman of the Society of Automotive Engineers committee, which compiled the EV-charging standards to which all manufacturers... (Time.com)
Obama says government won't try to help run GM, Chrysler Nov 19, 2009
A just-announced plan for General Motors to repay U.S. and Canadian loans will be re-evaluated in June, he said. GM plans quarterly payments of $1 billion to the U.S. on a $6. (USA Today -- Money)
Analysts split over PNC-Capmark deal Nov 19, 2009
Capmark was created three years ago when an investor group including Wall Street heavyweights Kohlberg Kravis Roberts & Co. and Goldman Sachs bought a subsidiary of General Motors Acceptance Corp. called GMAC Commercial Holding Corp. Capmark s core businesses are lending and mortgage banking, investments and funds management, and servicing. It has about 575 employees in Horsham. (Philadelphia Business Journal, PA)
S.F. nurtures female execs, study finds Nov 19, 2009
"Research shows there are differences in how women manage risk. Especially now after the recession and (what happened to) companies like Lehman Bros. and General Motors; if they'd had more women in senior management, there might have been a more long-term view taken. Women also tend to be able to look at things from many different angles at the same time.". The report noted that women account for about 40 percent of business and management master's degrees in recent years, but didn't delve into... (San Francisco Chronicle -- Business)
GM raises Vauxhall job cuts hope Nov 18, 2009
General Motors' head of operations in Europe has suggested job losses at its two Vauxhall factories in the UK may not be as bad as initially feared ... FROM OTHER NEWS SITES * Mandelson backs GM's Vauxhall plan - 4 hrs ago GM sees 'significantly' fewer Vauxhall job cuts - 8 hrs ago GM promises 'fewer job cuts' at Vauxhall - 12 hrs ago GM Boss: Good Future For UK Plants - 13 hrs ago General Motors: Good Future For UK Plants - 13 hrs ago * Requires registration. (BBC News -- Business)
Delta offers JAL billion-dollar financial lifeline Nov 18, 2009
Bankruptcy protection can enable a company to restructure its debts with creditors and implement other measures to emerge stronger, as seen with ailing US auto giant General Motors earlier this year. JAL, Asia's largest carrier, is seeking an injection of public funds to boost its capital as it restructures under the supervision of a government-backed turnaround body. (Business Report, South Africa)
Ford Fusion, Motor Trend car of the yr Nov 18, 2009
Dearborn, Michigan-based Ford has looked to set itself apart from U.S. rivals General Motors Co and Chrysler Group LLC, which reorganized under government-funded bankruptcies this year, and increasingly uses Toyota and Honda as benchmark competitors. Sales of the Fusion have helped keep Ford's US sales declines for 2009 slower than the overall drop in the industry. (India Times)
Obama in China: Why not more US export jobs? Nov 18, 2009
Many US companies, such as General Motors and Proctor & Gamble, have done well in China. Last spring, for example, Mattel opened in Shanghai its first dedicated store in the world for selling its Barbie dolls. (Christian Science Monitor)
Glimpsing a Greener Future: Computer Model Foresees Effects of Alternative Transportation Fuels Nov 18, 2009
Scott Samuelsen, director of the Advanced Power & Energy Program, says Stephens-Romero's work is getting high praise from leaders at Toyota, Honda, General Motors, Shell, Air Products, the California Air Resources Board and the California Energy Commission ... Mechanical and electrical engineers at DaimlerChrysler, General Motors and BMW have jointly developed a hybrid-vehicle technology that shuts the. (Science Daily)
General Motors will build hot-rod Cadillac CTS-V sport wagon Nov 18, 2009
Entering the market for hot-rod station wagons, General Motor's Vice Chairman Bob Lutz has that its going to build a 556-horsepower CTS-V version of the new Cadillac luxury hauler. Doesn't cost GM much since it's a simple matter to drop the big engines into the new. (USA Today -- Money)
Ford, Subaru and Volkswagen top list of safest new vehicles Nov 18, 2009
But there was bits of good news for a lot of automakers, including General Motors and its new Buick LaCrosse. Here's the whole thing. (USA Today -- Money)
Japan doesn't rule out JAL bankruptcy: minister Nov 18, 2009
com - Japan doesn't rule out JAL bankruptcy minister. " onclick="Next();" src="/images/butt_next. (Channelnewsasia.com)
U.S. Brands Have Special Luster in Chi00004000na Nov 18, 2009
Brands - parent of KFC and Pizza Hut - Caterpillar, Wal-Mart, Nike, and General Motors are expanding rapidly there and reaping in big profits even as the struggle at home ... But perhaps no one's as thankful for China's big spenders as General Motors. (CBS News)
Azteks abysmal failure bodes well for GM Nov 18, 2009
But obviously, theres a wrinkle this time round: Both General Motors and Chrysler are fresh off bankruptcy. And youd be right to assume theres extra pressure on their new wheels. (MSNBC -- Business)
* GMAC chief executive steps down Nov 18, 2009
That is in contrast to the governments ouster earlier this year of General Motors (GM) CEO Rick Wagoner, who was pressured to step down as a condition for taxpayer aid. GMAC director Michael Carpenter will take over as CEO. In an interview, Carpenter affirmed that no government entity had any say in De Molinas departure. (Taipei Times, Taiwan -- World)
Watts in a name? GM picks color-name finalists for Chevy Volt electric car Nov 18, 2009
General Motors picks color-name finalists for Chevrolet Volt electric car - Drive On: A conversation about the cars and trucks we drive - USATODAY.com ... General Motors picks color-name finalists for Chevrolet Volt electric car ... The great thing about the extended-range electric Chevrolet Volt is all the ways that General Motors is finding to milkthe projectfor every electronof public-relations value before the car gets built next year. (USA Today -- Money)
Get more: Local Nov 18, 2009
With the holiday shopping season in full swing, General Motors Corp. is trying to re-brand itself. Tags. (WJRT, MI)
Social media like Twitter change customer service Nov 18, 2009
Jefferson Graham explains how the Roku HD-XR brings the Internet to your TV.. By Eileen Blass, USA TODAY. (USA Today -- Tech)
GM speeds up repayment of loans to taxpayers Nov 17, 2009
CHICAGO, Nov. 16 (Xinhua) -- U.S. automaker General Motors Co. is expected to announce that it will begin repaying its 6. 7 billion dollars in government loans ahead of schedule, official sources said on Monday. (Xinhuanet, China)
GM losses not as bad as feared Nov 17, 2009
General Motors loses $1 ... General Motors loses $1 ... This is a defining moment in the history of General Motors, and we are committed to our plan, which we believe will lead to a stable and sustainable operating structure with a strong balance sheet, said Henderson in a statement. (Triangle Business Journal)
GM reports loss, will step up repayments of aid Nov 17, 2009
General Motors has reported a $US1 ... General Motors has reported a loss of $US1 ... 8 per cent stake in the new firm called General Motors Company. (Sydney Morning Herald -- Business)
GM reports $1.2 billion third-quarter loss Nov 17, 2009
DETROIT - General Motors, its river of red ink stemmed by a trip through bankruptcy court, reported a narrower quarterly loss and said it would start repaying billions of dollars in government loans that helped keep it alive. GM lost $1. (MSNBC -- Business)
CEO is stepping down from beleaguered GMAC Nov 17, 2009
GMAC is instrumental to the operations of automakers General Motors Co. and Chrysler Group LLC, but its finances have been haunted by bad loans it made during the housing boom. advertisement. (MSNBC -- Business)
Nitpicking GMs Third-Quarter Results Nov 17, 2009
The Wall Street Journal has a good rundown of General Motors third-quarter results, reported today, which have the but making money in China as well as achieving profits on some of its new vehicles. At issue for the WSJ is. (Slate)
GM to make 1st US loan payment Nov 17, 2009
General Motors, signaling confidence in its recovery from bankruptcy, said it generated $3 ... General Motors, signaling confidence in its recovery from bankruptcy, said it generated $3. (New York Post -- Business)
GM To Begin Repaying $6.7B in U.S. Loans Nov 17, 2009
General Motors, its river of red ink stemmed by a trip through bankruptcy court, reported a narrower quarterly loss and said it would start repaying billions of dollars in government loans that helped keep it alive ... Beleaguered US carmaker General Motors has opened a new joint venture manufacturing plant in northeast China which will begin churning out up to 150,000 vehicles annually beginning next year. (CBS News)
Show Transcript: November 17 Nov 17, 2009
AZUZ: In America, General Motors says that better results might help it pay back government loans sooner rather than later. But "better" is the key word here. (CNN -- US)
GM generates $3.3b in cash, plans to start repaying loans Nov 17, 2009
Yesterday s reports offered a glimpse into the retooled General Motor Co. s performance since leaving Chapter 11 bankruptcy and shedding the remnants of the old General Motors Corp. (Lisa Poole/ Associated Press) By Bloomberg News / November 17, 2009 ... The results offered the first glimpse of GM s financial performance since it shed the remnants of the old General Motors Corp. ... GM reported unaudited data for July 1 through July 9 for General Motors Corp., and for the period since July 10. (Boston Globe)
Honda may roll out small car before 2011-12 Nov 17, 2009
The car will be pitted against the growing tribe of premium hatchback cars like the Maruti Swift, Hyundai i10, General Motors Aveo UV-A, Tata Motors Indica, Fiats Punto, Ford Figo and Toyotas yet to be launched small car. This is the fastest growing segment in the domestic market with over 2. (India Times)
Korean model triumphs over West Nov 17, 2009
Chinese consumers are not alone in being attracted to these products, as rising sales of Hyundai cars in the United States during the "cash for clunkers program this year testify. Hyundai Kia Automotive Group's October sales in the US not only jumped nearly 50% from the same month last year, according to the automotive industry publication Ward's Auto; the increase rates of the two carmakers was the largest among light-vehicle brands, and nearly 14 times higher than the average increase rate... (Asia Times Online)
GM posts loss but plans to repay loans early Nov 17, 2009
In a positive sign that General Motors Co.'s restructuring is off to a hopeful start, the company Monday said it would begin repaying U.S. government loans later this year - ahead of schedule - and that it generated $3 ... "Today's release of General Motors' financial results is further proof that President Obama's economic experiments are wrong for America," Republican National Committee Chairman Michael Steele said in a statement. (San Francisco Chronicle -- Business)
Common Sense Nov 17, 2009
So General Motors says it's on the rebound; so much of a rebound, that by the end of this year, it's going to start paying back all the money we gave it. Maybe a billion bucks by December 31 and another billion bucks each quarter for the next six quarters. (Fox News)
Read the 'Cost of Freedom' recap Nov 17, 2009
Steve Forbes: At the end of the day, unions and the economy are going to lose because it's going to destroy a lot of jobs and when jobs are destroyed, just look at General Motors 40 years ago they had 395,000 blue collar workers today it's 38,000 even though they had gold plated this and gold plated that ... They're outperforming General Motors. (Fox News)
German Tax Funds Shouldn't Go to Opel, Lauk of Governing CDU Writes in FT Nov 17, 2009
Nov. 17 (Bloomberg) -- General Motors Co. should not even think of asking for state aid to continue operating Opel in Germany, Kurt Lauk of the Christian Democratic Union writes in the Financial Times. When GM reversed itself and decided not to sell Opel/Vauxhall to Canadas Magna International Inc., the assumption was that there was a plan to allow the European carmaker to stand on its own feet, Lauk, chairman of the CDUs economic council, writes. (Bloomberg -- Germany)
GM says it's ready to start repaying government Nov 17, 2009
By Sharon Silke Carty, USA TODAY DETROIT General Motors said Monday that it's already planning to start paying back its government loans, but experts say not to be too bowled over by the figures. The automaker is paying the loans out of its government escrow account, money it's had available since the company emerged from bankruptcy. (USA Today -- Autos)
New talks set on Vauxhall future Nov 17, 2009
General Motors' head of operations in Europe is set to meet the UK government and Unite union to talk about Vauxhall. Opel chief Nick Reilly will hold meetings with Business Secretary Lord Mandelson and Unite head Tony Woodley. (BBC News -- UK)
Rising U.S. Auto Demand Spurs Sales for Mexico's Alfa, Kuo as GDP Recovers Nov 17, 2009
Both Detroit-based General Motors Co. and Ford Motor Co. of Dearborn, Michigan had their first combined U.S. sales gain in three years last month. Higher U.S. vehicle sales in October should provide support to Alfas shares, said Riveroll, who rates the stock outperform. (Bloomberg -- US)
Money-losing GM to repay aid early, sees 2010 share offering Nov 17, 2009
" onclick="Next();" src="/images/butt_next. " GM owes 6.7 billion dollars to the US Treasury and 1.4 billion US dollars to Canada for loans to help the company emerge from bankruptcy as a new entity. In releasing preliminary financial results, GM said it would come up with 1.2 billion dollars for loan repayment in December followed by quarterly payments. Henderson said the company plans to repay the US and Canadian loans within two years, and possibly by June 2010 if conditions warrant. "If the... (Channelnewsasia.com)
GM plans to begin repaying federal aid this year Nov 17, 2009
The government debt represents about 13 percent of the 52 billion that U.S. taxpayers have invested in General Motors, the majority of which was exchanged for a 61 percent ownership stake in the company. GM said today it lost 1. (Coos Bay-North Bend The World, OR)
GM to start loan repayments early Nov 17, 2009
US carmaker General Motors (GM) has said it will start paying back its government loans earlier than expected ... FROM OTHER NEWS SITES GM hints Vauxhall's Ellesmere Port site is safe - 1 hr ago * GM to begin repaying bail-out loans as it reveals fresh losses - 5 hrs ago GM to begin repaying US taxpayers - 7 hrs ago UK Vauxhall Plants Stay, Says General Motors - 16 hrs ago General Motors announces $1. (BBC News -- Americas)
Allstate takes another step in remaking executive suite Nov 17, 2009
In recent weeks, Allstate has hired a veteran of General Motors Corp., Mark LaNeve, as chief marketing officer and a former executive at American International Group Inc., Matthew Winter, as president of its life insurance unit. With the moves, Allstate CEO Thomas Wilson has effectively made over much of the Northbrook-based insurance giants executive suite. (Crain's Chicago Business)
Still losing cash, GM to repay aid early, plans 2010 IPO Nov 17, 2009
Fritz Henderson, chief executive of General Motors, holds a press conference to give GM's first post-bankruptcy financial report at GM headquarters in Detroit, Michigan, United States. General Motors said Monday an improving global auto market will allow the struggling auto giant to repay government loans early and move forward toward a 2010 share offering ... WASHINGTON (AFP) - An improving global auto market will allow General Motors to repay government loans early and move toward a 2010 share... (Yahoo! Asia News)
Canada's Factory Sales Gain Less Than Expected in September on Automobiles Nov 17, 2009
General Motors Co., signaling confidence in its recovery from bankruptcy, said today it generated $3. 3 billion in cash in the third quarter and plans to start repaying Canadian government loans early. (Bloomberg -- Canada)
* GM to step up payments to US, Canada Nov 17, 2009
General Motors Co (GM) yesterday announced a loss of US$1. 2 billion since emerging from bankruptcy in July, but said it would step up repayments to the US and Canadian governments of bailout aid. (Taipei Times, Taiwan -- World)
101 Comments Nov 17, 2009
01 million): to join other funders in helping the college create an art and design campus at the new Taubman Center, originally a General Motors design facility. The center is expected to bring 2,000 people to the premises daily. (PNN Online)
GM Turnaround Pivots on Sales After Henderson Slashes Costs in Bankruptcy Nov 17, 2009
Nov. 17 (Bloomberg) -- General Motors Co. Chief Executive Officer , buoyed by $50 billion in U.S. bankruptcy aid, slashed debt and operating costs without returning to profit. His challenge now is to sell more cars. (Bloomberg)
GMAC's Carpenter Plans to Build Auto Finance, Find a `Solution' for ResCap Nov 17, 2009
Carpenters goal for auto finance matches government policy, which deemed Detroit-based GMAC for the survival of General Motors Co. last December ... GMACs former parent, General Motors, holds a 9. (Bloomberg)
