Percy Barnevik, retired chairman of AstraZeneca PLC, resigned today from the General Motors board of directors, effective immediately. In a statement, GM said Barnevik's reasons for resigning were "personal.
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Percy Barnevik, retired chairman of AstraZeneca PLC, resigned today from the General Motors board of directors, effective immediately. In a statement, GM said Barnevik's reasons for resigning were "personal.
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China knocked the United States out of the top spot in auto industry sales in January, if General Motors' sales estimates are accurate.
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Coming off a January in which sales collapsed 49 percent, General Motors today announced a new round of incentives that includes 0 percent financing and more cash on the fenders.
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General Motors' South Korean unit plans temporarily to halt production at its plants this month because of a sharp drop in demand.
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Ford Motor Co. and General Motors said sales plunged more than 40 percent in January, putting the industry on pace for its worst month since August 1982. Ford's 41.6 percent fall and GM's 49 percent drop were steeper than analysts' forecasts.
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The Canadian units of General Motors and Chrysler have yet to draw on C$4bn (US$3.2bn) in loans made available by the federal and Ontario provincial governments, a minister has said.
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General Motors, anticipating the spring selling season, is boosting production of some of its biggest pickups and SUVs next month. GM will restore production on Line 1 in its Flint, Mich.
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U.S. Sens. Debbie Stabenow and Carl Levin, both D-Mich., are working this week to correct an inadvertent tax liability created for General Motors by its receipt of federal loans.
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General Motors joined Chrysler LLC today in offering a new round of hourly worker buyouts and retirement incentives to cope with the industry downturn and meet federal labor-saving requirements for the automakers' rescue package.
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General Motors could face a multibillion-dollar tax hit under its $13.4 billion federal bailout, a scenario the automaker faces just weeks before it must file a restructuring plan with the government.
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With sales plummeting, and parent General Motors distracted by its home-market woes, Saab's best future is as a spun-off organization, dealers and company insiders said.
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Talk about pressure. Just a couple of weeks before General Motors has to submit a detailed plan proving viability, GM executives have no idea what to do with their losing brands.
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General Motors could face a multibillion-dollar tax hit under its $13.4 billion federal bailout, a scenario the automaker faces just weeks before it must file a restructuring plan with the government.
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Sen. Bob Corker of Tennessee is not yet convinced that the UAW has given up enough to support the federal loans offered to General Motors and Chrysler LLC.
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General Motors will not sell the 2009 Saturn Astra compact car in the United States, a Saturn spokesman said today. GM will resume sales of the Astra in late summer or early fall as a 2010 model.
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The UAW signaled its willingness to give Ford Motor Co. the same bailout concessions as General Motors and Chrysler LLC when it agreed to permit Ford to terminate its Jobs Bank.
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General Motors will suspend its 'jobs bank' programme on Monday - all of Detroit's Big Three automakers have now announced such a move this week.
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General Motors bondholders may receive around 20 percent of the company's equity as part of a planned debt exchange designed to reduce the automaker's crippling debt load, JPMorgan said.
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General Motors will discontinue Cadillac's halo vehicle, the XLR roadster, at the end of the 2009 model year, a Cadillac spokeswoman says.
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