On Friday, it become very apparent to us that the common equity in General Motors (NYSE: GM) will become worthless. We advised shareholders of GM that they...
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We deeply appreciate the Congress considering General Motors’ request to borrow up to $18 billion from the United States. We want to be sure the American people know why we need it, what we’ll do with it and how it will make GM viable for the long term.
For a century, we have been serving your personal mobility needs, providing American jobs and serving local communities. We have been the U.S.
Saturn’s slogan is now “Rethink”, but it’s beginning to look like the GM-owned automaker is taking that sentiment in a completely different direction. After making an effort to rebrand the Saturn line and produce a variety of attractive vehicles, General Motors might pull the plug on the 23-year-old auto line.
Time for General Motors to wear a crown! Till date, there was too much of Maruti Suzuki in the J.D Power list. You check the news or read the reviews of J.D Power Asia you’ll find atleast one Maruti car there. Even today, Maruti is doing wonders but now General Motors also got an opportunity to wear the winner’s crown. The company is excited to receive J. D. Power awards for two of its car mod
(4-traders.com) GM's board has also ratcheted up pressure on Wagoner in recent weeks, the newspaper said, citing several people familiar with the matter. While George Fisher, the lead independent director, supports...-MOTORS-4824/news/GENERAL-MOTORS-eyes-debt-swap-report-13084529/
In order to win $12 billion from the U.S. government's bailout plan, General Motors is looking into possibly cutting its Saturn, SAAB, and Pontiac brands. According to sources, selling or dropping brands would save the company the most money and reduce overlap needed in order to prevent future cash shortages.
The long wait for financial assistance for General Motors seems to be forcing the car manufacturing giant to consider the worst case solution, bankruptcy as continuous decline in sales has left them with no viable alternative. Although GM chief executive Rick Wagoner has pointed to it as a non-viable alternative, it seems like such an [...]
If General Motors really does run out of money by the end of the year, as it predicted was possible, the impact would be felt far and wide - to hundreds of suppliers, rival automakers and ultimately dealers across the nation.
“Once the first domino falls, it rapidly takes out all the other dominoes,” said Dennis Virag, president of the Automotive Consulting Group.
Suppliers would be am
General Motors reported on Monday that it plans to layoff an additional 5,500 employees as part of its cost cutting moves. The auto company reported a $2.5 billion third quarter loss and stated that its risks running out of cash flow unless it receives government funding by the first half of 2009.
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American General Motors Corp., famous for their Chevrolets, Pontiacs, Buicks, GMCs, Saturns, Hummers, Saabs and Cadillacs has reported $2.5 billion loss in the third quarter and warned that they could go bankrupt next year!
Is this the end of the American Dream?
Hope not since the end of the American Dream would mean hell for the rest of the world!
General Motors Corp. (GM) has reported a $2.5 billion loss in the third quarter and warned that it could run out of cash in 2009 if the United States economic slump continues and it does not get government aid.
Recently, GM has suspended its ambition to acquire Chrysler. According to GM, the acquisition of Chrysler was considered as a strategic acquisition. GM believes that the acquisition
General Motors (GM) and OnStar have successfully demonstrated a prototype technology "Stolen Vehicle Slowdown" (Slow down the stolen vehicle), capable of intercepting, slow down and stop a fleeing car On Star General Motors (GM) and OnStar have successfully demonstrated a prototype technology "Stolen Vehicle Slowdown" (Slow down the stolen vehicle), which allows oper
General Motors and Chrysler Corp. have stepped up talks on a possible merger between the two ailing US automakers, sources close to the negotiations said Friday.
A source briefed on the discussions said the talks have intensified as representatives from the companies try to see if the potential costs savings could outweigh the difficulties that come with combing firms with overlapping product line
Europe is in serious economic trouble. General Motors (NYSE:GM) has stopped production and is forecasting horrid sales. Harley Davidson (NYSE:HOG) is in similar trouble. Avoid European exposure.
By Andrew Snyder
Baltimore – (TFN): If you think the economy is slowing here in the United States, do not even think about looking to Europe. Thanks to already-high unemployment [...]
General Motors reported Friday that it intends to shut down its SUV plant in Ohio on December 23. The move is part of the company shift towards smaller vehicles. In closing the plant, General Motors declined tax incentives from the state of Ohio valued at $56 million. The plant current manufactures the GMC Envoy, Chevrolet Trailblazer, and Saab 9-7X.
General Motors said Friday that it intended to draw down the remaining 3.5 billion dollars of its 4.5-billion-dollar secured revolving credit facility to maintain what the auto giant described as "high level of financial flexibility" at a time when the financial markets are uncertain."Accessing the funds available to us is a prudent liquidity measure. Drawing on the revolver now improves our liqui
THE Chevrolet Volt is expected to be the icing on General Motors’ 100th birthday cake this week. The much-promoted sedan, which will operate as an electric car in typical local driving, is intended to provide a jump-start for the company’s second century.
The timing of the Tuesday event is fortuitous, for much more is riding on the Volt than whether a new model using experimental technologies
Nel tentativo di controbattere la miriade di voci, critiche infondate e informazioni false che circolano sulla società e sui suoi prodotti, General Motors ha lanciato il sito gmfactsandfiction.comOrganizzato in modo semplice ed immediato in 4 sezioni (Design ed Ingegneria, Ambiente e Carburanti Alternativi, Finanza e Qualità) il sito propone al visitatore un “falso mito” e la risposta puntua
For the past two years, General Motors Corp. has hosted the GM Style Event as a pre-party for the North American International Auto Show, held each year at the Cobo Center in Detroit. This event brought the rich and famous...
Detroit automaker GMC announced that they have bought 50 percent stake of an Italian diesel engine manufacturer. This move shows that the carmaker is indeed pushing through with its promise to manufacture diesel engine Cadillac and Saturn auto models in the near future.
General Motors bought 50 percent of VM Motori S.p.A. from Penske Corporation. The [...]
A solar installation of 1.2 megawatts will be installed on the roof of a General Motors plant from White Marsh. The company recently announced that add solar panels on the one of the biggest factories of assembling cars from Spain.Solar plant from White Marsh will generate approximately 1.4 million kilowatts and will replace 20% of the electricity that the plan it buy. According to the contract
GENERAL MOTORS - PROGRAMA DE ESTÁGIO 2008
Acreditando no potencial e no talento dos jovens universitários, a GMB
abre as inscrições para seu PROGRAMA DE ESTÁGIO 2008.
* Objetivos do Programa
Capacitar e desenvolver novos talentos;
Trazer para a empresa novos conhecimentos e tecnologias; Estreitar o
relacionamento entre empresa e escola; Criar um banco de dados para
recrutamento em futuros pro
General Motors reported a quarterly loss of $15.5 billion as the company continues to struggle with slowing demand for its products. General Motors has nearly $30 billion in North American leases, which are now losing money as SUV's and truck values continue to plummet.
General Motors wants You to “Kiss My Astra” to win a Saturn AstraDETROIT – Saturn today launched the “Kiss My Astra” national photo contest, offering Saturn fans an opportunity to show just how much they would love to win a new Saturn Astra.Contestants can kiss their own Astra, a friend’s Astra or drop by any Saturn retailer and kiss their Astra, and then upload a photo of the kiss at
In turn of the large auto maker’s decline in sales, CEO Rick Wagoner is preparing to make a second announcement of the corporations’ revision of its infrastructure. The purpose of this plan is to cut costs and regain investor confidence.
At the forefront of the cost cutting are the jobs of GM’s white collar workers such as [...]
Car manufacturers are moving one after the other to investment for building their production facilities in India. The main objective of doing so is the low-cost of production and availability of engineering skills.General Motors is planning to invest nearly an amount of Rs 1200 crore to set up the power train producing facility at the Talegaon plant, near Pune.The power train producing facility is
Aisin World Corp has received the General Motors 2007 Supplier of the Year award for its significant contributions to GM's global product and performance achievements.Read more...
DETROIT - Bruised by a deep sales slump and a half-century-low in its stock price, General Motors Corp. is preparing to cut thousands more white-collar jobs and is considering whether it should sell or shutter more of its brands, people familiar with the matter said.
Both moves are part of a broader re-evaluation of GM’s strategy and of its ability to meet an internal projection of returning
Merrill Lynch issued a warning Wednesday morning that General Motors is in desperate need for cash and if conditions worsen the company may face bankruptcy. As oil prices continue to climb and economic conditions worsen, General Motors is facing a tough time staying a float. It's stock price is now the lowest it has been in 36 years.
General Motors EMD EnginesThe General Motors EMD engine line is typical of the two-stroke diesel breed. These engines were introduced in the 1930s and power a large number of the diesel locomotives found in the United States. There have been three successive series in the EMD line: the 567 series, the 645 series, and the 710 series. The numbers refer to the number of cubic inches per cylinder, wit
General Motors (GM) hit a 52-year low yesterday, and isn’t showing much signs of a technical or fundamental recovery. How did the stable blue-chip company go astray?
Let’s peek at the chart:
To be fair to GM, let’s compare it to Ford Motor Company (F) to see a very similar chart, though Ford is only retesting levels [...]
General Motors has announced that they are closing four truck plants and may completely drop the Hummer line of vehicles completely.Faced with soaring gas prices and a shift in the habits of the American car buyer, General Motors felt they were forced to make some major changes.General Motors said that they will shift some of the production into cars, which are typically much more fuel efficent th
General Motors announced plans to close 4 plants affecting nearly 8,350 workers, as part of its refocusing effort. The company is now changing its business model to focus on new smaller cars as opposed to its core products, pickup trucks and SUVs. All 4 of the plants closing manufactured pickup trucks and SUVs. General Motors also stated that its Hummer would either be sold off or get a remake.
The May 2008 sales comprise of 1667 units of Chevrolet Tavera, 1214 units of Chevrolet Aveo, 383 units of Chevrolet Optra, 2250 units of Chevrolet Spark and 275 units of Chevrolet Captiva.Read more...
General Motors Corp. lead independent director George Fisher said the automaker’s management team has his and the board’s backing after GM fell to the lowest value since 1982, the Wall Street Journal reported.
“Certainly, I and the board still support our management team, as we have in the past,” Fisher told the newspaper, endorsing CEO Rick Wagoner. “We think we have
DETROIT - As a further demonstration of its commitment to fuel cell technology, General Motors handed the keys to four Chevrolet Equinox Fuel Cell vehicles to a group of key government partners who are participating in Chevrolet's Project Driveway - the largest-ever market test of fuel cell-electric vehicles.
More than 100 electric vehicles, powered by hydrogen [...]
Quella che General Motors vuole portare avanti con la Chevrolet Volt sembra essera una vera e propria rivoluzione, ovvero una vettura ibrida che garantirà un minimo di 60km di autonomia esclusivamente utilizzando la potenza delle batterie agli ioni di litio, oltre al classico ibrido con motori funzionanti a benzina, gasolio o entanolo. (more…)
Condividi
(Fonte: Auto Shop [...]
General Motors Lineup For 2007 New York International Auto ShowNEW YORK – GM’s global product development efforts will converge in one city as the new 2008 Cadillac STS; two Buick performance models and a refreshed Buick LaCrosse sedan; more powerful versions of the HUMMER H2 and H3; and a first-ever Saab E100 bioethanol concept come to the New York International Auto Show, April 6-15 at the J
General Motors Lineup For 2007 New York International Auto ShowNEW YORK – GM’s global product development efforts will converge in one city as the new 2008 Cadillac STS; two Buick performance models and a refreshed Buick LaCrosse sedan; more powerful versions of the HUMMER H2 and H3; and a first-ever Saab E100 bioethanol concept come to the New York International Auto Show, April 6-15 at the J
Corporate restructuring
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TORONTO - In the latest blow to the country’s struggling auto industry, General Motors said Monday it will close its transmission plant in Windsor, Ont., by mid-2010 in a move that will affect 1,400 people.
GM said Monday the closure will occur when current production mandates expire for the four-speed automatic transmissions produced at the plant.
“Despite efforts and discussions with
OnStar Phone - Forced Choice? Why GM is resisting the move to BluetoothIt seems General Motors is often intent on doing its own thing when nearly everybody else is doing otherwise. Such seems to be the case with its OnStar phone system.It seems General Motors is often intent on doing its own thing when nearly everybody else is doing otherwise. Such seems to be the case with its OnStar phone system.When the rest of the automotive industry is adopting Bluetooth technology for their cars which seamlessly integrates with any Bluetooth-enabled cell phone, GM is stubbornly pushing its considerably more expensive OnStar phone system. For instance, 500 minutes is a whopping $174.99 using OnStar, and 1,000 minutes cost a staggering $299.99. The only other option offered is a link to your existing V
General Motors Maintains Your Car With Goodwrench, OnstarDETROIT – Is your oil ready to be changed? Do you know how much air pressure is in your tires? Even if you don’t know the answers to these important maintenance questions, chances are, your GM vehicle does. Most GM vehicles today are equipped with advanced technology that helps take the hassle out of vehicle maintenance.DETROIT – Is your oil ready to be changed? Do you know how much air pressure is in your tires? Even if you don’t know the answers to these important maintenance questions, chances are, your GM vehicle does. Most GM vehicles today are equipped with advanced technology that helps take the hassle out of vehicle maintenance.GM’s Oil-Life System determines when it’s time for oil changes and maintenanceGM’s pa
Bartech recognized by General Motors as 2007 Supplier of the Year for its significant contributions to GM’s global product and performance achievements.Read more...
Military equipment Light Service Support Vehicle (LSSV) repair manual,this military vehicle is based on GM's Tahoe and Suburban. Inside the manual there are checklists, pictures and tables for you. Frankly, not much informations covered herein.
Autoliv recognized by General Motors as a 2007 Supplier of the Year for its significant contributions to GM’s global product and performance achievements.Read more...
Struggling auto manufacturer, General Motors, reported a $3.3 billion loss for its first quarter. A huge drop in automobile sales here in the states have slowed down sales for the company. General motors also posted $1.45 billion in write-downs related to its mortgage division.
Preh received the General Motors 2007 Supplier of the Year award for its significant contributions to GM's global product and performance achievements.Read more...
Customers look at Buick and Chevrolet cars at a sales office in Beijing in this Oct. 18, 2006 file photo. General Motors Corp. will sell its first gas-electric hybrid cars in China in July, introducing a model created in part by GM's Shanghai design center, the company said Saturday. (AP Photo/Greg Baker, File)
General Motors Corp. will sell its first gas-electric hybrid cars in China in July
A Honda Automóveis confirmou a participação na Reatech (Feira Internacional de Tecnologias em Reabilitação, Inclusão e Acessibilidade), que será realizada de 24 a 27 de abril no Centro de Exposições Imigrantes, em São Paulo, SP.A empresa promove o Honda Conduz, implantado no país há mais de dez anos, que auxilia na obtenção da documentação necessária para a aquisição de veículos, por meio da rede de concessionárias.No estande da General Motors as atrações com melhor custo-benefício são os modelos Meriva Easytronic (automatizada) e Astra (com transmissão automática), ambos equipados com motor flex. Toda a linha Chevrolet, com transmissão mecânica, também pode ser adquirida com isenção do IPI para os denominados “PPD não condutor” (casos em que o veículo
SAE International's Automotive Engineering International (AEI) magazine crown General Motors' Chevrolet Tahoe Hybrid and GMC Yukon Hybrid as 2008's Best Engineered Vehicles.Read more...
Hybrid cars that you can recharge from mains electricity are going to change the world. Andrew English gets a sneak preview of General Motors' plug-in Volt and reports on recent American legislation changes that will affect us allThere should have been maroons over Michigan two weeks ago when California's Air Resources Board (Carb) plumped for plug-in hybrids over battery-electric and hydrogen fuel-cells in its latest legislation. California is the world's largest and most influential car market - the state's inhabitants buy more than two million new cars each year. Carb's anti-pollution rules are highly influential across the globe and are mandated by another 13 states in the USA. Hybrid petrol-electric and diesel-electric cars, along with bioethanol from crops, are America's big ideas f
General Motors celebrates its 100th birthday on 16th September 2008. GM’s Centennial to be celebrated with a series of special events across the world under the banner of GMnext.Read more...
General Motors issued a recall for 207,000 sedans due an issue where they can develop oil leaks leading to fires. Models effected by the recall include Buick Regal and Pontiac Grand Prix. It says there has 267 incidents and six injuries regarding the defect.
La General Motors Italia dovra' pagare 300 euro di risarcimento danni per lo spamming via e-mail ai danni di un cittadino.
Lo ha deciso il giudice di pace di Napoli, accogliendo la richiesta dell'avvocato Angelo Pisani - presidente di Noiconsumatori.it - in relazione al continuo invio, non autorizzato, di messaggi pubblicitari via posta elettronica.
'La sentenza fa profilare tempi duri,
GM Vice Chairman Bob Lutz has taken pains to assure the public that despite his recent comment that global warming is "a total crock of sh--," his view have no influence on the automaker's mission to build cars that are environmentally friendly.Internet bloggers have been abuzz since Lutz made the comment to reporters in Texas last month. He said those angry with him for downplaying the threat of climate change are "missing the big picture" about what GM is doing for the environment.GM has been criticized for emphasizing production of SUVs such as the Hummer and failing to embrace hybrid technology. Lutz said his beliefs on climate change "have nothing to do with the decisions I make to advance the cause of General Motors." Source: uk.reuters.com
During the Consumer Electronics Show (CES) in Las Vegas General Motors (GM) will showcase one of its latest projects a vehicle that can operate without a driver.
General Motors Corp. (GM) has announced the opening of a new design studio which will be a dedicated space for their next generation of electric vehicles. The studio contains clay and vinyl models of Volt, which was unveiled earlier this year.
The American automaker describes the Volt on their website as "radically different than any on [...]
General Motors Corp. reported to add more new cash incentives on its large Pickups and SUVs for October following its second-straight month of sales gains.
The offers of $1,000 cash rebates on such vehicles as the 2007 and 2008 Chevrolet Silverado large Pickup and GMC Envoy SUV began Tuesday and run through the end of the month, said GM spokesman John McDonald.
GM has sought to lift profit by scaling back on costly incentives this year. Cash rebates and zero-percent loans last month helped it boost truck sales by 3.5%, while the industry had a 2.4% truck decline.
“We are trying to introduce customers to some of our new 2008 models and continue our sales success,” McDonald said.
GM also extended through Oct. 31 its offer of zero-percent financing for up to five years on some SUVs and large pickups, McDonald said. The $1,000 cash rebates are in addition to other incentives and can’t be used with the zero-percent loans.
More News of Automotive Industry:
+ 2009 Honda Acco
General Motors Corp. won its struggle to unload $51 billion in retiree health costs and improve competitiveness in the latest round of contract talks with the United Auto Workers, but not without a short-lived strike that wrung promises out of GM to keep jobs at U.S. plants.The two sides tentatively agreed Wednesday to a groundbreaking agreement that allows GM to move its unfunded retiree health care costs into an independent trust administered by the UAW. The union also agreed to lower wages for some workers. In exchange, the UAW won commitments from GM to invest in U.S. plants, bonuses and an agreement to hire thousands of temporary workers which will boost UAW membership, according to a person who was briefed on the contract. The person requested anonymity because the details haven't been publicly released.Wall Street applauded news of the deal, sending GM shares up more than 9 percent.
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General Motors Corp. says it intends to improve the mileage of its gasoline engines by making them run more like diesel engines.Although many automakers are pursuing the same strategy - notably Honda - GM became the first company Friday to demonstrate the technology in running concept cars."This is not ready for prime time yet," said Tom Stephens, group vice-president of powertrain for GM. "We don't have a date pinned to it at all," he said at the company's proving grounds here 80 kilometres west of Detroit."But in my opinion, it's going to happen," he said of mass market production of HCCI engines. Called homogenous charge compression ignition (HCCI), the system, which has been 30 years in development, enables gas engines to mimic key aspects of the diesel combustion cycle.Specifically, the system uses high pressure to increase burn efficiency to levels only achieved in diesel engines until now.Diesel engines are up to 30 per cent more efficient than gas engines but create more emi
Fuente: cincodiasLas empresas auxiliares ubicadas en el entorno de la planta de General Motors en Figueruelas (Zaragoza) están fabricando actualmente más de la cuarta parte de los componentes del nuevo modelo de Corsa. Este porcentaje es similar al de la factoría de Gliwice (Polonia), área a la que se adjudican las mejores expectativas de crecimiento en la industria europea del automóvil. Sin embargo, la ventaja aragonesa en el suministro de logística y tecnología convierten a Figueruelas en el mejor hinterland (territorio) europeo del gigante automovilístico estadounidense.Gliwice fue ya la principal competidora de Figueruelas para la adjudicación del nuevo Meriva, que acabó recalando finalmente en Zaragoza. Ahora, la planta aragonesa está volviendo a ganar la partida a la fábrica polaca en lo que a retención de industrias auxiliares en el entorno de la fábrica matriz se refiere. En el ac
General Motors plans diesel engines for the U.S. automarketGeneral Motors is planning to put diesel engines in Cadillac and Saturn cars in the United States by 2010. The number one American automaker confirmed the fact that it will use diesel powerplants on the U.S. passenger cars, crossovers and light trucks. Sources confirm that the automaker will present a diesel engine on an Opel E-flex in September at the Frankfurt Auto Show.It is possible that the same variant of engine to be presented also at the Detroit Motor Show in January, on a Saturn and most likely on a Acura sedan.Cadillac will get the same engine by the end of 2009 or in 2010. Sources also confirmed the fact that the new Opel Vectra will get the diesel engine in 2008 and will come to the United States as a Saturn for the next generation Aura if all goes as planned. GM has already two diesel engines under development.A big engine, a 4.5 liter V8 wich is programmed to appear in 2010 and used for light-duty pick-ups and SUV
For all of us who feel only the deepest love and affection for the way computers have enhanced our lives, read on:
At a recent computer expo (COMDEX), Bill Gates reportedly compared the computer industry with the auto industry and stated, “If GM had kept up with technology like the computer industry has, we would all be driving $25.00 cars that got 1,000 miles to the gallon.”
In response to Bill’s comments, General Motors issued a press release stating:
If GM had developed technology like Microsoft, we would all be driving cars with the following characteristics:
1. For no reason whatsoever, your car would crash……..Twice a day.
2. Every time they repainted the lines in the road, you would have to buy a new car.
3. Occasionally your car would die on the freeway for no reason. You would have to pull to the side of the road, close all of the windows, shut off the car, restart it, and reopen the windows before you could continue. For some reason you would si
Buick was the special child in the GM family: the beautiful and temperamental second-oldest daughter that somehow always got the most attention from Daddy. Sure, oldest daughter Caddy got to wear the family jewels and formal gowns, but Buick was lavished with style. Whether it was Harley Earl or Bill Mitchell, GM’s top stylists always blessed Buick with their best efforts. For decades, Buick was maintained in the style to which she had become accustomed, and remained America’s fashion-conscious upscale buyers’ wheels of choice. And then, not.Scotsman David Dunbar Buick founded his eponymous automobile company in 1903. The following year, the inventor of the overhead valve engine sold the struggling concern to James Whiting, an ambitious wagon builder. Whiting turned to William Durant to help jump start Buick.With an excellent product to sell (the Model C), Durant’s energy, affability and marketing genius ensured Buick’s ascension to profit and glory. Durant used Buick’s rev
Christian Salvesen, uno de los mayores operadores logísticos de Europa, ha sido reconocido por General Motors como "Proveedor del año 2006" por su buen desempeño en el aprovisionamiento de componentes, distribución de recambios y demás servicios logísticos. La décimoquinta edición de la entrega de premios tuvo lugar en una ceremonia celebrada el 31 de Marzo en Orlando, Estados Unidos. "Estamos orgullosos de distinguir a Christian Salvesen como uno de los mejores proveedores de General Motors en el 2006", dijo Bo Andersson, Vicepresidente del Grupo GM. "Christian Salvesen ha logrado el galardón gracias a un rendimiento excepcional en 2006. Valoramos su energía, trabajo, entrega y dedicación al éxito de GM". Este es el segundo año consecutivo que la Compañía ha sido galardonada con este prestigioso premio que sólo se otorga a aquellos proveedores c
President Bush Participates in Demonstration of Alternative Fuel Vehicles with CEOs of Ford, General Motors and DaimlerChrysler, FULL STREAMING VIDEO, The South Lawn. In Focus: Energy, 11:11 A.M. EDT. PODCAST OF ARTICLETHE PRESIDENT: I've just spent quite a while talking to our CEOs of American automobile companies. And I was interested in their take on my goal of reducing gasoline consumption by 20 percent over the next 10 years.I found it very interesting that by 2012, 50 percent of the automobiles in America will be flex-fuel vehicles. That means that the American consumer will be able to either use gasoline or ethanol, depending upon, obviously, price and convenience. That's a major technological breakthrough for the country.If you want to reduce gasoline usage, like I believe we need to do so for national security reasons, as well as for environmental concerns, the consumer has got to be in a position to make a rational choice. And so I appreciate very much the fact that America
General Motors is trying to take the GM or Certified Used Vehicle Sales to the next level. They will be offering a 100000 mile warranty on USED VEHICLES! WOW!First, it has to be a Certified Vehicle from a Certified Used Dealer. A Certified Used GM Vehicle is a car, truck, or SUV from the year model 2002-2006 with less than 60000 miles. Notice that I did not include 2007 models. This is because they already have the 100000 mile warranty included. Brands included are Chevrolet, GMC, Pontiac, Buick.The warranty is a warranty that will cover engine, transmission, drive train. It is not a bumper to bumper warranty, but will cover the major components that cost the most to fix. This will take the GM sales to record levels this year as it will offer peace of mind. Imagine, you are looking at a 2003 GM Car with 45000 miles. Under the old Certified Program, you would receive a 3 month, 3000 mile bumper to bumper warranty only. You still receive this, but also get the 100000 power train warranty
During a stay in L.A. a couple of years back, friends in Manhattan Beach told us a story of the train that used to run along the beach. It seems that the walk- and bike path along the beach was built on top of the old train tracks that ran all the way to Long Beach. They also said that they were under the impression that apparently the American automotive industry had a hand in it's disappearance, allegedly buying train companies and shutting them down to boost their car and bus business; and at the same time laying the groundwork for L.A.s pollution problem. Today I happened upon the story below posted by Kate of Vancouver, BC, on Now Public:"Beginning in the 1920s, General Motors began investing in mass transit systems. According to historian Marty Jezer (and Congressional hearings held in 1974), between 1920 and 1955, General Motors bought up more than 100 electric mass transit systems in 45 cities, allowed them to deteriorate, and then replaced them with rubber-tired, diesel-power
DETROIT - General Motors Corp. tonight unveiled a concept GMC Yukon Denali SUV developed in partnership with cultural icon Shawn "Jay-Z" Carter.
Jay-Z, hip-hop superstar and business entrepreneur,...
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On Tuesday, the junk bond market sneezed and General Motors caught a cold. Less poetically, the money men behind the buyout of GM’s Allison transmission unit postponed a junk bond offering designed to pay for same. According to market sources, when the “spread” (the extra yield investors demand to compensate for their risk) widened by about 100 basis points, Merrill Lynch, Citigroup and Lehman Brothers pulled the plug. GM spokeswoman Renee Rashid-Merem said the company wasn’t worried about the sale: “The buyout remains on track.” Maybe so, but GM can’t afford this kind of setback. Literally.
I've been wary of GM's alt propulsion press vehicles since ’04, when The General faked a hybrid test drive with Autoweek, slapping a cod cover on a pushrod powerplant. So I approached USA Today scribe James Healey’s review of the hybrid Tahoe with no small amount of skepticism. "GM says the electric-only mode could take you to 32 mph under ideal conditions. But the test showed that accelerating in traffic means electric-only lasts only up to about 10 mph." Oops. "Tahoe's gasoline engine shuddered as it fired up and began contributing power. Expect the shakes to be gone in regular production models, says Mark Cieslak, chief engineer for GM's full-size trucks." Doh! But wait! There's more!
In the second financial quarter, General Motors made $891m. The General's camp followers have been delighted with the slim not to say two percent profit. Meanwhile, GM North America (GMNA) lost $39m. The General has been almost universally commended for their U.S. division's performance, as it compares with a $3.95b loss in ’06. Supposedly, the move “close to profitability” indicates the rot has stopped, as a prelude to recovery. But lessening losses is not the same as making money, especially when you need money.
By their own admission, General Motors' North American operations are currently doing business with negative working capital (NWC). At About.com, an unnamed investment adviser has some advice on that subject. "Negative working capital is a sign of managerial efficiency in a business with low inventory and accounts receivable. In any other situation, it is a sign a company may be facing bankruptcy or serious financial trouble." Any guess which one of those descriptions applies to GM?
