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General Motors: Today's News In A Nutshell

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GM in a nutshell

GM in a nutshell

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There's a lot going on in General Motors' world. To help you (and us) keep track of all the shenanigans, here's a bulleted, easy-to-digest summary of today's major headlines:

  • The feds are gearing up to drive GM into beautiful, downtown bankruptcyville next week. Not that we're pessimistic about the automaker's turnaround plan (due on May 31), but we kinda saw this coming. [WashingtonPost]
  • GM and the UAW have reached a new labor agreement. It probably won't have much effect on whether or not the General goes to banktrupcy court (see above), but it may save GM some money--and the UAW some headaches. [Freep]
  • The man who heads up Cadillac, Hummer, and Saab has called it quits after just 13 months on the job. Mark McNabb says he wants to spend more time with his family in New Jersey. The fact that two of his three brands are in the process of getting nixed might have something to do with it, too. [DetNews]
  • GM is king of the hill when it comes to U.S. market share and output, but if the experts are right, it won't stay that way for long. Given current sales trends, bean-counters are predicting that Toyota will leapfrog over the General's American sales stats sometime in 2010. And Ford should outpace GM's output later this year. On the upside, now the company won't have to worry about the pressure of being #1. [TheCarConnection and MotorAuthority]
  • GM is making progress on the hydrogen cell front! Which is great, except the cool kids have moved on to other, more viable things. [AutomobileMag]
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Comments (3)
  1. "General Motors"

    The world’s largest automaker, General Motors, is facing financial troubles. This financial problem is actually a sign of larger problems to come facing their Asian rivals. They and Chrysler asked for cash advance loans from the Government back in November, along with a request for open lines of credit from Ford. GM Stock has recently taken a huge tumble on the market, after President Obama asked CEO Rick Wagoner to step down from his post as the head of GM and all subsidiaries, which he promptly complied with. Some experts have advocated that both GM and Chrysler declare bankruptcy and merge, with both discarding all brands that aren't competitive. Regardless, it appears dark days are still ahead for General Motors.
     
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  2. "Mr"

    GM is the most sleazy dishonest company on earth. They don't honor their warranties. They have deceived every GM Customer in America by not telling them that GM DOES NOT EVEN ADMINISTER IT'S OWN ADVERTISED WARRANTY!
    The Sitel Corporation administrators the GM Warranty and it is Sitel Employees you are really talking to even thought they lie and say they are "GM Customer Service".
    The mafia is far more honest than General Motors.
    Check out www.CleanUpFlorida.com .
     
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  3. "www.GMBailOutRipOff.com"

    Find out the truth about how dishonest the governance of GM really is.
    Go to www.GMBailOutRipOff.com .
     
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