A Swedish court on Monday granted General Motors' loss-making unit Saab an extension of the period it is protected from creditors, giving the carmaker further time to restructure.
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General Motors will lean much harder on its strongest brands and#x2014; Cadillac and Chevrolet and#x2014; as it accelerates the reduction of dealerships.
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Although General Motors CEO Fritz Henderson has said that every GM model must "pay the rent," there will be at least one prominent exception: the Chevrolet Volt. Last week GM disclosed that it had requested $2.
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General Motors Europe is speaking to industrial groups, sovereign wealth funds and banks which are interested in buying a stake in Opel/Vauxhall, company sources said Friday.
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The court-appointed aministrator of General Motors' Saab unit said on Monday the carmaker was seeking to write off about three quarters of its non-prioritized debt to help it reach a positive cash flow in 2011.
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NASCAR chairman and CEO Brian France was not at all pleased with an April Fool's prank that appeared on the website associated with Car and Driver magazine that President Barack Obama had ordered carmakers General Motors and Dodge to withdraw their support from NASCAR racing.
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Bankruptcy is not inevitable for General Motors, said the automaker's new CEO, who is under White House orders to win more concessions from bondholders and unionized workers.
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Is U.S. President Barack Obama bluffing? Some General Motors bondholders and the largest U.S. auto union are betting the new president, an avid poker player, may now be using bankruptcy as a stick to get all parties to reach a deal.
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General Motors product planners were given twin mandates in developing the first compact crossover vehicle for GMC, the Terrain. They had to retain the brand's "rugged" styling signature while creating a vehicle that travels 30 mpg on the highway.
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General Motors expanded its line of small crossovers with the premiere of the 2010 GMC Terrain at the New York auto show.
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General Motors could move in and out of U.S. Bankruptcy Court in a month or two if it were to divide itself into good and bad assets, some bankruptcy lawyers say.
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General Motors could move in and out of U.S. Bankruptcy Court in a month or two if it were to divide itself into good and bad assets, some bankruptcy lawyers say.
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General Motors said today about 600 hourly workers who tentatively accepted a special attrition retirement or buy-out package last month have changed their minds. About 7,600 workers initially accepted the offers, said Tom Wilkinson, GM spokesman.
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The new CEO of General Motors has embraced a change of direction for the automaker and is working on a plan to make the firm viable, White House economic adviser Austan Goolsbee said today.
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The new CEO of General Motors has embraced a change of direction for the automaker and is working on a plan to make the firm viable, White House economic adviser Austan Goolsbee said today.
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General Motors' struggling Swedish unit Saab has its first court hearing with creditors on Monday. The court will decide if Saab can pursue efforts to find new owners or investors after parent GM said it will cut loose the loss-making brand by 2010.
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This week started with an unprecedented open season on auto industry CEOs as we learned that General Motors' Rick Wagoner had fallen on his sword at the request of Barack Obama's autos task force and that PSA's had bid au revoir to Christian Streiff.
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General Motors Europe is speaking to industrial groups, sovereign wealth funds and banks which are interested in buying a stake in Opel/Vauxhall, company sources said Friday.
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General Motors may need "more drastic" government intervention to save its European operations should efforts to secure help from a third-party investor fail, a person familiar with the situation has said.
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Despite General Motors' looming troubles, development of the Chevrolet Volt rolls on, and 80 new prototypes will be built and tested starting this summer.
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