General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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General Motors will cut its senior executive pension plans by up to two-thirds as part of its bankruptcy restructuring, CEO Fritz Henderson told a U.S. House Energy and Commerce subcommittee on Friday.
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General Motors is trying to cement an agreement with Magna International to buy its European unit, Opel, but is willing to broaden discussions if necessary, GM CEO Fritz Henderson said.
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General Motors will cut its senior executive pension plans by up to two-thirds as part of its bankruptcy restructuring, CEO Fritz Henderson told a U.S. House Energy and Commerce subcommittee on Friday.
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General Motors' supplier relations improved under global purchasing chief Bo Andersson but would have made greater progress if the company hadn't faced such financial trouble, consultant John Henke Jr. said today.
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The U.S. government's new equity stakes in General Motors and Chrysler may make it harder for suppliers to raise capital, an investment banker said. Tight credit could cause the U.S.
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General Motors is close to selling its money-losing Swedish unit Saab after tiny supercar maker Koenigsegg agreed to ride to the rescue, a source familiar with the talks told Reuters.
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Virtually all dealers asked to do business with the new General Motors after bankruptcy have agreed to do so, while the automaker will work through the weekend to weigh appeals from those that are being cut loose, CEO Fritz Henderson said today.
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More than 95 percent of eligible dealers at bankrupt General Motors have signed on or verbally agreed to participate in the new company, CEO Fritz Henderson said today.
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More than 95 percent of eligible dealers at bankrupt General Motors have signed on or verbally agreed to participate in the new company, CEO Fritz Henderson said today.
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Bo Andersson, the global purchasing chief who reinvented the way General Motors did business with thousands of parts suppliers, has left the bankrupt automaker.
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Bo Andersson, the global purchasing chief who reinvented the way General Motors did business with more than 3,000 parts suppliers, has left the bankrupt automaker.
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Indian suppliers have not been significantly hit by General Motors' bankruptcy filing and expect production to continue to the restructured automaker.
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Swedish supercar producer Koenigsegg and a consortium of Norwegian investors are in exclusive negotiations to buy General Motors's Saab division, according to media reports citing people close to the talks.
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A team from Magna International, the supplier and contract vehicle assembler currently negotiating to buy General Motors' Opel and Vauxhall units, will arrive in the UK on Monday (15 June) to inspect Vauxhall's operations and books to see if the unit is viable.
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Transplant automakers remain vulnerable to supply chain interruptions caused by the General Motors and Chrysler LLC bankruptcies, and are keeping in close communications with their suppliers.
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Auto parts maker Martinrea International Inc. said it plans to sell shares at a discount to raise working capital, a day after it said all receivables from General Motors and Chrysler were being paid on time.
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While in the midst of restructuring, General Motors will be forced to cut out factory support for Chevrolet teams competing in NASCAR's Nationwide and Camping World Truck Series.
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While the news has yet to be made official, all signs point to Saab being purchased from General Motors yet remaining in Swedish hands. Domestic manufacturer Koenigsegg, specialized in ultra-premium sports cars, just signed a Letter of Intent (LoI) with the support of the Swedish government, as reported.
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Transplant automakers remain vulnerable to supply chain interruptions caused by the General Motors and Chrysler LLC bankruptcies, and are keeping in close communications with their suppliers.
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