General Motors is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars equipped with a 3.8-liter engine because an oil leak could start an engine fire.
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General Motors is recalling nearly 1.5 million Buick, Chevrolet, Oldsmobile and Pontiac mid-sized cars equipped with a 3.8-liter engine because an oil leak could start an engine fire.
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Canada's auto industry made more than C$100 billion ($82 billion) in profits between 1972 and 2007, with the Canadian units of General Motors and Chrysler generating more than a third of those earnings, a report by the Canadian Auto Workers said...
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The Boston Consulting Group was awarded $7 million by the U.S. Treasury Department to help assess General Motors' restructuring plan and Chrysler's alliance with Fiat as the government considers the automakers' fates.
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The Boston Consulting Group was awarded $7 million by the U.S. Treasury Department to help assess General Motors' restructuring plan and Chrysler's alliance with Fiat as the government considers the automakers' fates.
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General Motors shares plunged 16 percent today as traders shed positions out of fear the U.S. government will push the automaker into a bankruptcy that could wipe out existing equity. GM, which is operating under $13.
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General Motors shares plunged 16 percent today as traders shed positions out of fear the U.S. government will push the automaker into a bankruptcy that could wipe out existing equity. GM, which is operating under $13.
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General Motors' bondholders are preparing legal arguments against the automaker's bankruptcy plan, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
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Parts suppliers have had fair warning. Chrysler LLC could find itself in bankruptcy by month's end; General Motors, by the end of May. That doesn't leave much time for vendors to prepare. Some suppliers are ready.
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A Chapter 11 filing by General Motors or Chrysler LLC would create many hazards for dealers. For example, the value of inventory would drop, and franchise agreements could be worthless. But dealers can prepare, some dealers and attorneys say.
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Fritz Henderson, General Motors new CEO, is charged with accomplishing the "deeper and faster" restructuring demanded by the federal task force overseeing automotive bailouts.
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General Motors' bondholders are preparing legal arguments against the automaker's bankruptcy plan, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
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Standard and Poor's today cut certain debt ratings of General Motors and Chrysler LLC, citing lower likelihood of recovery by their debtors in the event either carmaker defaults on the loans or files for bankruptcy.
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Standard and Poor's cut its rating on General Motors $4.5 billion senior credit line deeper into junk, due to a shrinking pool of assets available to repay lenders and weak demand for its light vehicles.
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General Motors is preparing a new offer to bondholders for a debt restructuring critical to its turnaround that may be far worse than terms the automaker had provided previously, business television network CNBC reported today.
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The Canadian Auto Workers said today the government of Ontario was ducking its obligation to guarantee the pensions of retired General Motors workers in Canada.
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General Motors plans to double China sales over the next five years, the local chief said in comments published on Thursday.
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General Motors was having constructive talks with governments of Canada and the province of Ontario about future funding support, new CEO Fritz Henderson has said.
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Three bidders with offers from US$100m to $200m in cash and other commitments remain interested in General Motors SUV brand Hummer.
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The Obama autos task force is meeting with General Motors officials now to speed its restructuring process, an administration official was quoted as saying.
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