Warren Buffet’s Berkshire Hathaway buys 10 million shares in General Motors
Berkshire Hathaway Inc. owns 10 million shares in General Motors Co. as of March 31, 2012, according to the company’s quarterly filing submitted to the US Securities and Exchange... Read more
GM pulls out all of its ads on Facebook ahead of IPO
General Motors has decided to pull out all of its ads on Facebook due to their ineffectiveness, according to a report on The Wall Street Journal. Reuters said that the report has been... Read more
General Motors to buy out the pensions of salaried retirees?
After Ford Motor Co. made the offer in April to buy out the pensions of salaried retirees, the spotlight is now on whether General Motors is doing the same thing. GM hasn’t commented... Read more
Chevrolet Trax not coming to the United States
General Motors Co. plans to launch the Chevrolet Trax at the Paris auto show in September and to roll out the small crossover in more than 140 global markets excluding the United States.... Read more
Ally Financial’s ResCap files for bankruptcy with at least $1 billion in both assets, debts
Mortgage company Residential Capital LLC has filed a Chapter 11 petition today in U.S. Bankruptcy Court in Manhattan, listing at least $1 billion each in liabilities and assets. The... Read more
U.S. government doesn’t plan to end its part ownership of GM in the near future
The U.S. government has no foreseeable plans to put an end to its being a part owner of General Motors, The Detroit News reports. Tim Massad, who serves as the acting assistant secretary... Read more
General Motors filed a trademark for the Riviera name
Buick’s choice of names for its new products is quite tricky because of the wide range of nameplates from its rich history. One example is Riviera, an intriguing historical nameplate that... Read more
Romney is claiming credit for auto industry’s turnaround
Seeking to earn support for his presidential aspirations, Mitt Romney did the most unlikely thing – taking credit for the turnaround of the auto industry. Romney was one of the largest... Read more
GM Financial records flat growth for leasing for first quarter of 2012
GM Financial, a financial services arm of General Motors that offers auto financing through the carmaker’s dealers has reiterated last week its goal of effecting growth in leasing.... Read more
GM seeking for bids for its powertrain plant in Strasbourg
General Motors Co. is seeking for bids for its powertrain plant in Strasbourg, France. GM is making the second attempt in four years to sell the plant amid hopes that the factory will... Read more
Mark Barnes appointed GMIO Vice President of Sales, Marketing and Aftersales
General Motors has named Mark Barnes as the new vice president of sales, marketing and aftersales for its international operations. Barnes, 52 years old, is a veteran sales executive with... Read more
GM dealerships face issue on overstocked GMC Sierras, Chevy Silverados
Having extra GMC Sierras and Chevy Silverados in their lots is reality for many dealerships of General Motors lately. For example, Rox Covert, a Texas dealer, has around four months'... Read more
Analysts forecast Toyota to exceed GM’s earnings next fiscal year
Analysts expect Toyota Motor Corp. to post its largest profit in five years and surpass General Motors Co.'s earnings this incoming fiscal year. According to the average of 21 analyst... Read more
GM legally avoided paying U.S. federal income taxes since exiting bankruptcy
Even as General Motors Co.’s worldwide tax rate will rise by up to 13%, it still doesn’t have to pay U.S. federal income taxes. It was exempted ever since it exited bankruptcy. Since... Read more
General Motors reorganizes R&D, cuts jobs at Detroit and India centers
General Motors is restructuring its R&D operations and cutting back on some jobs in the process. According to an insider requesting anonymity, the automaker intends to eliminate around... Read more
GM’s first quarter profits declined to $1 billion
General Motors said that it has a disappointing outlook for the next six months at its core market in North America as it revealed its concerns about the recovery of the U.S. economy. The... Read more
GM seeks smaller stake in truck manufacturer Isuzu, an insider reveals
General Motors Co. is currently seeking a smaller share (compared to its initial proposal) of Isuzu Motors, which wants to stay independent, an individual familiar to the situation... Read more
SAIC-GM-Wuling to build microvans in India, Egypt with kits from China
The Chinese microvan joint venture of General Motors will commence production at two facilities in Egypt and India with the use of kits imported from China. Specifically, SAIC-GM-Wuling... Read more
Next GM CEO might be a woman, says Dan Akerson
Will a woman soon be the head of the world's largest automaker? Dan Akerson, CEO of General Motors Co., has confirmed that this is possible since Mary Barra, the company’s highest-ranking... Read more
Isuzu in talks with GM about jointly selling commercial vehicles
Negotiations will soon begin between General Motors Co. and Isuzu Motors Ltd. about jointly selling commercial vehicles in Asia and in Central and South America, according to a Nikkei... Read more
GM sold 213,387 vehicles in April in the United States
GM reported April sales of 213,387 vehicles in the United States but this number doesn’t make the American manufacturer too happy as retail sales were practically equal to April 2011.... Read more
Mary Chan to oversee GM’s OnStar and infotainment divisions
General Motors has named Mary Chan to be its vice president in charge of global connected consumers – a recently created post that oversees its OnStar and infotainment divisions. Chan... Read more
GM’s Dan Akerson compensation increased to $7.7 million in 2011
The overall compensation of Dan Akerson, the CEO of General Motors, increased by almost three times to $7.7 million in 2011, reflecting a pay increase for his first full year serving as... Read more
Dan Akerson says that next GM CEO should be an internal candidate
It will be two to five years more that General Motors Co. CEO Dan Akerson intends to stay on the job but when talking about who he prefers to be his successor, he said that he hopes that... Read more
General Motors make strides in China to promote Cadillac models
General Motors Co. is marketing Cadillac in China in a simple yet unique way – by displaying a scale model of the luxury brand’s U.S. presidential limousine on a special pavilion in... Read more
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