Tag Archives: General Motors

CNBC reports: President Donald Trump will consider cutting all subsidies to General Motors after the company announced plans to slash productions at several American plants, he said Tuesday. The automaker’s shares fell following the tweet and were down more than 2 percent on Tuesday afternoon. The tweet escalates the president’s public threats against GM as he pushes the company to …

The Chicago Tribune reports: General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles. The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. Most of …

Agence France-Presse reports: Regulators will “carefully and responsibly” review General Motors’ request to test an autonomous car without a steering wheel, US Transportation Secretary Elaine Chao said Sunday. “It is now coming to the stage with the rapid advancement of self-driving technology that this request is now a reality,” Chao said on the sidelines of the Detroit Auto Show. “So …

CNBC reports: General Motors disputed the facts in Donald Trump’s Tuesday morning attack on the automaker, saying it makes most of its Chevy Cruze models in the United States. The company said in a statement that “all Chevrolet Cruze sedans sold in the U.S.” are made at an assembly plant in Lordstown, Ohio. It clarified that it builds hatchback models …

Politico reports: General Motors is the latest target of President-elect Donald Trump’s Twitter cannon, with the Manhattan billionaire complaining that the American automaker is manufacturing cars in Mexico and importing them into the U.S. without penalty. “General Motors is sending Mexican made model of Chevy Cruze to U.S. car dealers-tax free across border. Make in U.S.A. or pay big border …

General Motors will now recognize same-sex marriages for the purposes of insurance and pension benefits. “GM will recognize a legal marriage for U.S. employees no matter the state of residence,” the automaker said in a statement. “For example, if a GM employee residing in Michigan, where same-sex marriage is not recognized, got married in New York, GM would recognize that …

Somebody’s not gonna like this! (Tipped by JMG reader Bill)

Source. (Tipped by JMG reader Danny)

Even when you stop paying them. Navigation-and-emergency-services company OnStar is notifying its six million account holders that it will keep a complete accounting of the speed and location of OnStar-equipped vehicles, even for drivers who discontinue monthly service. OnStar began e-mailing customers Monday about its update to the privacy policy, which grants OnStar the right to sell that GPS-derived data …

Yesterday General Motors ran this oddly affecting clip thanking Americans for bailing them out of bankruptcy.

The last Pontiac was manufactured in August 2009, but it wasn’t until yesterday that the contract to sell the 84 year-old line expired at General Motors dealers nationwide. GM will honor Pontiac warranties and dealers will continue to service them, but as of today any unsold 2010 Pontiacs are considered used. The photo above is the 1973 Pontiac LeMans, my …

Have you seen the below ad from General Motors claiming that they’ve repaid their loan from the federal government “five years early and with interest”? Yeah, not so much. Lawmakers, and even the inspector general for the bailout fund GM borrowed from, point out that General Motors only repaid the bailout money by dipping into a separate pot of bailout …

Rep. Michele “Crazy Eyes” Bachmann says the president and Barney Frank are a “gangster government” because the federal bailout of General Motors including closing some dealerships. Because it would been better to let the company go bankrupt and close ALL the dealerships.

General Motors will get another $30B in bailout loans as it steers the company into bankruptcy next week. The Obama administration is preparing to send General Motors into bankruptcy as early as the end of next week under a plan that would give the automaker tens of billions of dollars more in public financing as the company seeks to shrink …

Today General Motors announced that they will be discontinuing the Pontiac line next year as part of their plan to stave off bankruptcy. “The objective here is not to just survive but to come up with an operating plan that will allow us to win,” Chief Executive Fritz Henderson said Monday. The U.S. Treasury will extend an additional $11.6 billion …

These days when the president tells you to resign, you do it. The Obama administration asked Rick Wagoner, the chairman and CEO of General Motors, to step down and he agreed, a White House official said. On Monday, President Barack Obama is to unveil his plans for the auto industry, including a response to a request for additional funds by …