General Motors – News Stories About General Motors - Page 20

UPDATED

Jan 5, 2009 1:28 PM CST

Auto Sales Take a Drubbing in December

Chrysler off 53%; GM, Ford, Toyota, Honda all down more than 30%

(Newser) - Chrysler's sales were off 53% in December compared to the same time last year, the Wall Street Journal reports today, with Ford's off 32% and General Motors down 31%, further indicating a steep decline in US demand for cars. Foreign makers took an even harder hit last month: A 35%...

Ford Buffs
Green Image
With Fusion

OPINION

Jan 5, 2009 8:34 AM CST

Ford Buffs Green Image With Fusion

The highly anticipated hybrid will start appearing at dealerships this spring

(Newser) - Ford’s 2010 Fusion hybrid will debut this spring with an EPA rating of 41mpg city and 36mpg highway, writes Joseph White in the Wall Street Journal, but reaching those underwhelming numbers could be a tough ride for most consumers. Complicating Ford's tough sell are anemic gas prices, writes White,...

Feds' Cash in Hand, GMAC Kicks Credit Into High Gear

Dec 31, 2008 9:22 AM CST

Feds' Cash in Hand, GMAC Kicks Credit Into High Gear

Automaker offering new, low financing options for consumers

(Newser) - Now that the Treasury Department has pumped $6 billion into GMAC, its lending arm, GM, along with its dealers, is rushing out new financing deals for credit-strapped consumers, the Wall Street Journal reports. “The minute the news hit, we began contacting customers,” said one Michigan dealer, whose employees...

Dow Rises 184 on GMAC News

MARKETS

Dec 30, 2008 3:32 PM CST

Dow Rises 184 on GMAC News

Dow rises 184 despite drops in home prices, consumer confidence

(Newser) - Stocks rose today as investors were encouraged by the extension of at least $5 billion in bailout money to the financing division of General Motors, MarketWatch reports. GMAC said the aid would allow it to offer loans to more US consumers seeking to buy vehicles. The Dow gained 184.46...

Stocks Flat Despite Auto Help

MARKET Open

Dec 30, 2008 8:53 AM CST

Stocks Flat Despite Auto Help

(Newser) - Stocks continued their holiday nap today, opening only modestly higher despite an expansion of the auto bailout. The Dow rose 57 points, while the Nasdaq and S&P each rose 0.6%. GM and Ford climbed11% and 2.7% respectively on news that the government would toss $6 billion to...

GMAC Grabs
$6B Federal Lifeline

Dec 30, 2008 3:41 AM CST

GMAC Grabs $6B Federal Lifeline

Government uses bailout funds used to buy stake in auto finance giant

(Newser) - The federal government is dishing out a $6 billion bailout to keep auto financing giant GMAC afloat, the New York Times reports. The Treasury Department will spend $5 billion to buy a stake in the former General Motors subsidiary, and will loan GM a further billion so the company can...

Dow Gains 47 in Light Trading

MARKETS

Dec 26, 2008 3:29 PM CST

Dow Gains 47 in Light Trading

Dow up 47; GM advances after GMAC decision

(Newser) - Stocks edged higher today on very thin post-holiday trading volume, with energy firms seeing a boost from crude-oil prices that broke a 4-day losing streak, MarketWatch reports. The Dow gained 47.07 to close at 8,515.55. The Nasdaq climbed 5.34, settling at 1,530.24, and the...

GM Finance
Arm Converts,
Will Tap Bailout

Dec 24, 2008 4:43 PM CST

GM Finance Arm Converts, Will Tap Bailout

Fed approves GMAC's request to become bank-holding company

(Newser) - The Federal Reserve today approved a request by General Motors’ financial arm to become a bank-holding company so it can petition for money from the $700 billion bailout pot, the Wall Street Journal reports. GMAC would also have access to direct Fed loans, helping loosen credit and complement the $17....

Dow Falls 100 on Gloomy Data

MARKETS

Dec 23, 2008 3:20 PM CST

Dow Falls 100 on Gloomy Data

GM, Ford fall on ratings downgrades

(Newser) - Stocks fell today amid light holiday-week trading as reports on housing and the economy reminded investors how horrid the year has been, the Wall Street Journal reports. The Dow closed down 100.28 points to close at 8,419.49. The Nasdaq fell 10.81 points to close at 1,...

Ford Scores PR Cred by Declining Bailout Cash

Dec 22, 2008 9:05 AM CST

Ford Scores PR Cred by Declining Bailout Cash

By not begging to feds, but supporting Detroit mates, company well positioned

(Newser) - Ford’s decision not to take any of the $17.4 billion in bailout cash granted General Motors and Chrysler is paying the company public-relations dividends that could translate into cash in its showrooms when the economy recovers, Advertising Age reports. It was also a good move, analysts say, to...

This Ain't Charity: Detroit Must Win Consumers Back

OPINION

Dec 19, 2008 4:51 PM CST

This Ain't Charity: Detroit Must Win Consumers Back

Americans will get back on board if auto giants prove they can make good cars again

(Newser) - With a $17.4 billion bailout in hand, Detroit must now turn toward restructuring and making the cars America needs, Mark Phelan writes in the Detroit Free Press. “To win back American buyers’ respect,” Phelan continues, “the automakers must show the aid package was a sound investment,...

Stocks End Mixed; Dow Up 25

MARKETS

Dec 19, 2008 3:45 PM CST

Stocks End Mixed; Dow Up 25

Good news from RIM, Oracle help lift tech sector

(Newser) - Stocks ended mixed today as a rally on the news of a White House bailout for the auto industry fizzled over concerns for the larger economy, MarketWatch reports. General Motors led advancing stocks with a 22.7% gain, and the Dow closed up 25.88 at 8,579.11. The...

White House Gives
Automakers $17.4B Bailout

Dec 19, 2008 8:32 AM CST

White House Gives Automakers $17.4B Bailout

(Newser) - President Bush rolled out a $17.4 billion emergency loan package for US automakers today, promising $13.4 billion in immediate short-term loans from the remaining TARP funds and an additional $4 billion available in February, MSNBC reports. But the clock is ticking, as the companies must show they are...

GM, Chrysler May Win Loan Deal as Soon as Today

Dec 19, 2008 7:16 AM CST

GM, Chrysler May Win Loan Deal as Soon as Today

Talks on Thursday brought automakers nearer to bailout, sources say

(Newser) - In a round of talks running into the night, GM and Chrysler made headway in securing emergency loans from the federal government yesterday, Reuters reports; the package, expected as soon as this morning, would demand wholesale restructuring of the automakers, including more concessions from unions and creditors. The talks continued...

Oil Skids; Dow, Off 219, Follows

MARKETS

Dec 18, 2008 3:36 PM CST

Oil Skids; Dow, Off 219, Follows

Weak data, contract expirations stoke selloff

(Newser) - Stocks fell today as oil futures declined, the jobs picture remained grim, and two of the Detroit’s Big Three announced production stops due to lack of funds, MarketWatch reports. The imminent expiration of options and futures contracts also bedeviled the markets, and the Dow closed down 219.35 at...

White House Mulls
Automaker Bankruptcies

Dec 18, 2008 2:33 PM CST

White House Mulls Automaker Bankruptcies

Feds would offer support in giving automakers 'soft landing'

(Newser) - The Bush administration is considering “orderly” bankruptcies as one way to help General Motors and Chrysler, the New York Times reports. The government could support the companies while working on the terms of federal protection, providing what the White House calls a “soft landing.” With the possibility...

US Tech Firms
Get Together
on Car Battery

Dec 18, 2008 7:52 AM CST

US Tech Firms Get Together on Car Battery

14 companies want $1B from feds to help catch Asian rivals

(Newser) - Fourteen US technology companies are joining forces to speed development of electric car batteries, asking for $1 billion in federal aid to help catch up with Asian firms that have a long lead, reports the Wall Street Journal. Electric vehicles are now considered so important to help wean the US...

GM, Chrysler
Revive Merger Talks

Dec 18, 2008 1:46 AM CST

GM, Chrysler Revive Merger Talks

Chrysler's private equity owner signals willingness to give up a stake

(Newser) - General Motors and Chrysler are back in merger talks, reports the Wall Street Journal. Negotiations fizzled weeks ago as both companies viewed a merger as impractical and a potential distraction from federal bailout talks. Chrysler owner Cerberus Capital Management took the initiative to restart talks, and has signaled a willingness...

GM Picks Mets Over Yankees for Ad Dollars

Dec 16, 2008 4:14 PM CST

GM Picks Mets Over Yankees for Ad Dollars

Cash-poor automaker wants toehold in NYC but 'can't do both'

(Newser) - General Motors, citing the poor economic climate and its shortage of cash, has declined to renew its sponsorship of the New York Yankees, Bloomberg reports. The struggling car manufacturer will, however, re-up with the New York Mets. “We still want a presence in New York and we can’t...

Why Asian Automakers Don't Want Detroit to Fail

ANALYSIS

Dec 16, 2008 11:01 AM CST

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

(Newser) - As Detroit’s Big Three await word on the fate of their much-needed bailout, an unlikely group of supporters has assembled in their corner: foreign automakers. A collapse of General Motors, Ford, or Chrysler would devastate overseas manufacturers as well, CNNMoney reports, spreading bankruptcy to suppliers around the globe and...