DETROIT, April 1 (Reuters) -- Changes to General Motors' contract with the UAW could save the automaker $1.1 billion or more a year in hourly labor costs, GM said in a report to the U.S. Treasury Department released today.
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Canadian Auto Workers union President Ken Lewenza said he still sees the deal reached with General Motors of Canada as the pattern agreement for the restructuring of the country's top automakers and said it was "outlandish" to consider revisiting...
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Ford Motor Co. and General Motors posted the sharpest declines among the major automakers as U.S. sales fell 36.8 percent in March. Ford's sales dropped 42.1 percent and GM's 44.7 percent. Chrysler LLC sales tumbled 39.3 percent.
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Ford Motor Co. and General Motors posted the sharpest sales declines among major automakers as the industry headed toward its sixth straight monthly drop of more than 30 percent. Ford's March sales fell 42.1 percent and GM's were down 44.
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Ford Motor Co. and General Motors posted the sharpest declines among the major automakers as U.S. sales fell 36.8 percent in March. Ford's sales dropped 42.1 percent and GM's 44.7 percent. Chrysler LLC sales tumbled 39.3 percent.
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Ousted CEO Rick Wagoner left General Motors with a $22.1 million pension, but that pales compared with what he could have received if GM were in better financial shape. As of the end of 2008, Wagoner had 4.
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Four units of the Dutch car dealer and European importer of North American General Motors cars, Kroymans, have been declared bankrupt, an industry union said.
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The Canadian Auto Workers union has said it would not reopen its recent concession agreement with General Motors of Canada but would be willing to look at alternative measures to help reduce the burden of the company's so called "legacy costs".
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General Motors will miss a self-imposed deadline for deciding whether to sell or fold its Hummer brand, but expects to make a decision within weeks, new chief executive Fritz Henderson has said.
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General Motors will close more US plants and cut more jobs yet still faces a higher probability of bankruptcy to shed debt, new chief executive Fritz Henderson has said.
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The US government may seek to ease General Motors into what it calls a "controlled" bankruptcy, somewhere between a prepackaged bankruptcy and court chaos, by persuading at least some creditors to agree to a plan that would divide the company into two pieces, people briefed on the matter have told the New York Times.
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General Motors on Wednesday said it had not approached the British government to discuss a GBP600m (EUR647m; US$859m) aid package for its Vauxhall brand, as the Financial Times newspaper reported on Wednesday.
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General Motors today denied a newspaper report that it had approached the British government to discuss a 600 million pound ($859 million) aid package for its Vauxhall brand.
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General Motors has approached the British government to discuss a 600 million pound ($859 million) aid package for its local marque Vauxhall, the Financial Times quoted a leading trade union official as saying.
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General Motors has approached the British government to discuss a 600 million pound ($859 million) aid package for its local marque Vauxhall, the Financial Times quoted a leading trade union official as saying.
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General Motors bondholders on Tuesday braced for a reduced offer of "pennies on the dollar" for about $28 billion in outstanding GM debt and new terms for a swap under a revised survival plan.
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President Barack Obama's thinking on the crisis facing General Motors has not changed since Monday, a senior administration official told Reuters on Tuesday.
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Supplier Noble International Ltd., which has been kept on life support by its customers for the last month, is having its contracts with General Motors, Chrysler LLC and Ford Motor Co. transferred to other auto suppliers.
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General Motors CEO Fritz Henderson said today that he is ready to meet the Obama administration's mandate to restructure the company -- even if it means going into bankruptcy.
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General Motors CEO Fritz Henderson said today that he is ready to meet the Obama administration's mandate to restructure the company -- even if it means going into bankruptcy.
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