by Ken Zino | May 31, 2009
Senior officials in President Obama’s administration confirmed tonight that General Motors will file for bankruptcy tomorrow and proceed with a sale of its productive assets to a New GM, which should emerge from court protection in “60 to 90 days.”...
by Detroit Bureau | May 31, 2009
General Motors has just announced that the U.S. Department of the Treasury has informed the company that the support of more than 54% of the bondholders allows GM to proceed with the so-called 363 Sale Proposal as part of a bankruptcy filing that is expected tomorrow....
by Detroit Bureau | May 31, 2009
With the clock ticking down the hours until an expected General Motors bankruptcy, the White House will provide a preview of what’s to come, on Monday, during a Sunday evening background briefing. TheDetroitBureau.com will be there and have the inside story at...
by Paul A. Eisenstein | May 31, 2009
While neither General Motors Corporation nor the U.S. Treasury Department are commenting on events of this weekend, it appears that General Motors is still heading towards declaring bankruptcy on Monday, one of the only alternatives left open in its bid for survival....
by Paul A. Eisenstein | May 30, 2009
With weakened U.S. auto giant General Motors now coming down to the wire with an anticipated bankruptcy filing on Monday, the automaker has agreed to sell a majority stake in its ailing European Opel subsidiary to a consortium led by Canadian super-supplier Magna...
by Paul A. Eisenstein | May 29, 2009
Like most celebrities, Jay Leno has learned to smile politely and pen a quick autograph, but if you want to really get his attention, ask him about his car collection. The lantern-jawed comedian’s vast assemblage fills two hangars at the Burbank Airport and the...
by Ken Zino | May 29, 2009
General Motors President and CEO Fritz Henderson will host a press conference on Monday, June 1. The conference will be around mid-day at the GM Building, 767 Fifth Avenue, in New York. It is likely that Henderson will announce that GM will seek protection under...
by Joseph Szczesny | May 29, 2009
The United Auto Workers has used its residual clout to force General Motors Corp. to build a new class of small, so-called “B-” class subcompact cars in the United States. UAW president Ron Gettelfinger said the union now has a firm commitment from General...
by Ken Zino | May 29, 2009
GM employees represented by the United Auto Workers Union have ratified the modifications to their National Labor Agreement. The amended agreement covers approximately 54,000 hourly employees located in 46 U.S. facilities. “The leadership demonstrated by UAW...
by Ken Zino | May 29, 2009
General Motors Corporation announced today that it plans to build a future small car in the United States in an idled UAW-GM plant. The unnamed small car will be built in an unnamed facility. By making the announcement today, GM is clearly bowing to pressure from the...
by Ken Zino | May 29, 2009
The United Auto Workers Union yesterday told United States Representatives and Senators that recent news stories, editorials and op-eds about the restructuring plan at General Motors have a number of “inaccurate assertions” about the shares of equity in a...
by Paul A. Eisenstein | May 29, 2009
The increasingly complicated effort to save General Motors’ German-based Opel subsidiary ran into yet another snag, today, when Fiat, one of the two remaining bidders hoping to acquire a controlling chunk of Opel, decided to boycott a bailout meeting, in Berlin....
