UAW officials unanimously endorsed a new cost-cutting labor agreement with General Motors on Tuesday, paving the way for a quick rank-and-file vote this week. Here are highlights of the new GM contract agreement:
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The U.S. government wants to be as inactive a shareholder in General Motors as possible if it ends up taking an ownership stake during a reorganization of the automaker, sources said on Tuesday.
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General Motors today prepared to face the fallout from a failed debt exchange that sends the largest U.S. automaker closer to a bankruptcy filing expected by the end of the month.
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Mark McNabb, who has resigned from General Motors after 13 months, will lead Maserati North America Inc., Maserati announced today. McNabb, 48, will replace Marti Eulberg, who left the importer last month as CEO.
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General Motors said today that a crucial bond-exchange proposal failed to gain enough support and that its board of directors would meet to review the automaker's options, clearing the path for what would be the largest U.S.
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General Motors agreed to spare two plants that had been targeted for closure and will resurrect them to make small cars and their metal parts, according to highlights of a tentative contract agreement with the UAW.
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General Motors agreed to spare two plants that had been targeted for closure and will resurrect them to make small cars and their metal parts, according to highlights of a tentative contract agreement with the UAW.
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UAW officials unanimously endorsed a new cost-cutting labor agreement with General Motors on Tuesday, paving the way for a quick rank-and-file vote this week. Here are highlights of the new GM contract agreement:
Full story...
Efforts by General Motors to sharply cut debt and restructure its business are expected to run until the June 1 government deadline for the automaker to prove viability or face bankruptcy, the White House said today.
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Efforts by General Motors to sharply cut debt and restructure its business are expected to run until the June 1 government deadline for the automaker to prove viability or face bankruptcy, the White House said today.
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General Motors has agreed to assume ownership of five Delphi Corp. plants in the United States and operate the UAW-manned factories as a wholly owned subsidiary, according to union highlights of the tentative new contract between GM and the UAW.
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U.S. auto suppliers will be in dire need of up to $8 billion in emergency government aid over the next few months, particularly if General Motors enters bankruptcy, Michigan Governor Jennifer Granholm said today.
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The UAW's trust fund for retiree health care would get a 17.5 percent stake in a reorganized General Motors under a new labor agreement with the company, union officials were told today, according to news reports.
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Mark McNabb, who has resigned from General Motors after 13 months, will lead Maserati North America Inc., sources in Italy and the United States said. McNabb, 48, will replace Marti Eulberg, who left the importer last month as CEO.
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Mark McNabb, who has resigned from General Motors after 13 months, will lead Maserati North America Inc., sources in Italy and the United States said. McNabb, 48, will replace Marti Eulberg, who left the importer last month as CEO.
Full story...
In today's News Brake: General Motors confirms there will be a Chevy Camaro convertible; Volkswagen teams up with China for plug-in hybrids; and it will be a busy week for GM and Chrysler ... But Wait, There's More!
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In today's News Brake: General Motors confirms there will be a Chevy Camaro convertible; Volkswagen teams up with China for plug-in hybrids; and it will be a busy week for GM and Chrysler ... But Wait, There's More!
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General Motors has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy by the end of this month.
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General Motors has failed to persuade enough bondholders to accept a debt-for-equity swap, setting the stage for the largest-ever U.S. industrial bankruptcy by the end of this month.
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