The Canadian Auto Workers union has reached an initial agreement with General Motors and Chrysler to create a new healthcare trust that will manage the health benefits of more than 50,000 retirees.
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General Motors on Tuesday asked a bankruptcy judge to cancel 70 dealer contracts, a move that would remove last holdouts in the company's push to close up to 2,400 US outlets by 2010.
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General Motors on Tuesday asked a bankruptcy judge to cancel 70 dealer contracts, a move that would remove last holdouts in the company's push to close up to 2,400 US outlets by 2010.
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Beijing Automotive Industry Corporation plans to build a US$2bn Opel factory in China and close the carmaker's Antwerp plant in Belgium if its bid for General Motors' European unit is successful, the Financial Times reported, citing people close to the situation.
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Let the dismembering begin! Bankrupt General Motors last night passed another milestone on the road to restructuring when when judge Robert Gerber in a New York bankruptcy court approved the sale of substantially all of (old) General Motors Corporation's assets to NGMCO, Inc, an entity funded by the US Department of the Treasury.
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The deal is done and Judge Robert E. Gerber of the U.S. Bankruptcy Court has approved General Motors's plan to divide its assets between the good and the bad GM.
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Britain will help underwrite the planned takeover of the European arm of General Motors, possibly in the form of loans, government business secretary Peter Mandelson said during a van plant visit on Friday.
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Britain will help underwrite the planned takeover of the European arm of General Motors, possibly in the form of loans, government business secretary Peter Mandelson said during a van plant visit on Friday.
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Don't miss the Vancouver Olympic Games if you want to catch a glimpse of the 2010 Chevrolet Malibu Hybrid! While General Motors is busy developing a "parallel"-type hybrid variant of this midsize sedan for the 2011 model year (rumor has it the car could also be a plug-in hybrid), the bankrupt automaker announced in June that the few 2010 models being produced would find their way into vehicle fleets across the continent.
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Toyota has not ruled out keeping its NUMMI joint venture with General Motors in Fremont, California, going on its own, after GM pulls out, to produce the Prius hybrid there.
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As General Motors starts to sell off some best assets under its restructuring plan to a streamlined new entity, its worst assets, including a highly toxic foundry and a nine-hole golf course, are also going to auction.
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General Motors' chief executive Fritz Henderson has told a US bankruptcy court the sale of GM's main assets to a government-backed 'new GM' must win its approval for the automaker to survive.
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General Motors and Ford suspended production at their respective plants in Russia on Wednesday.
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General Motors is expecting over 10% growth in vehicle sales this year in China, where its Buick brand is particularly popular, its local chief said on Wednesday, after the automaker posted a 38% rise to 814,442 units, setting a first-half record.
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Toyota might supply a version of its Prius hybrid to General Motors, two people familiar with the plan told Bloomberg News.
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General Motors is to give up its stake in the New United Motor Manufacturing Incorporated (NUMMI) joint venture with Toyota in Fremont, California, the automaker said in a statement. In a separate statement, Toyota said it regretted GM's decision and would consider options for the plant. A Japanese report said a shutdown could not be ruled out, though that option was being viewed cautiously.
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General Motors is to give up its stake in the New United Motor Manufacturing Incorporated (NUMMI) joint venture with Toyota in Fremont, California, the automaker said in a statement. In a separate statement, Toyota said it regretted GM's decision and would consider options for the plant.
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General Motors is expected later today at a key bankruptcy court hearing to present its plan to sell off most of its assets to a 'new GM' free of most current debts and supported by billions of dollars in US government loans.
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It's back to basics at General Motors: make cars that sell. The 2010 Chevrolet Equinox is intended to do just that. No, it doesn't have fancy hybrid or clean-diesel technology (for now), but it does have the design and specifications for today's car buyer.
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