Many people probably missed Ed Whitacre's chatter about General Motors upcoming IPO. It happened smack in the middle of a very busy week, in the aftermath of "Voltgate". Heck, GM didn't even bother clarifying Whitacre's statements until Friday afternoon, when most sensible people were goofing...Read More»
General Motors chairman and chief executive officer Ed Whitacre will step down from his positions, passing the CEO slot to Dan Akerson on September 1 and departing as chairman of the GM board on December 31, 2010. The new CEO was voted onto GM's board last September as the company was reconstituted...Read More»
Last week, Ed Whitacre said that he was unsure about the timeline for General Motors' initial public offering. Analysts have been expecting GM to return to the stock markets this fall, but there's been a sizable obstacle standing in the automaker's way: finding a $5 billion line of credit, which GM...Read More»
A little over a year ago, General Motors was split in two: stockholders were left with shares in "Old GM", known officially as "Motors Liquidation Company" -- currently trading around $.41 -- while "New GM", now known as "General Motors Company" became a privately held enterprise owned by a range...Read More»
One year ago, America's automakers were facing one of the worst sales slumps to ever hit the industry, the effects of which even caused two of them to file for bankruptcy. In response, the government attempted to bailout struggling firms in the auto industry by providing them with cheap loans...Read More»
Since emerging from bankruptcy a year ago -- June 10, 2009, to be exact -- General Motors has been trying to buff its tarnished image. Some of the company's work on that front has been controversial, like CEO Ed Whitacre's recent commercial touting the fact that GM repaid its federal loans months...Read More»
Yesterday, General Motors finished paying back nearly $7 billion in loans from the U.S. government -- with interest, ahead of schedule. On the off chance you didn't hear about that, CEO Ed Whitacre is here to fill you in. Whitacre and his folksy, Texas drawl star in a new, 60-second spot that...Read More»
Both General Motors and Chrysler are working as hard as they can to take advantage of the last-ditch bailouts provided last year by the U.S. government. This morning, each issued a separate sign of its progress. GM chief executive officer Ed Whitacre is expected to announce that the company will...Read More»
Every day, there's a new story about General Motors' wobbly return to profitability. Between the management shakeups, the gut-churning attempt to sell off HUMMER, Saturn and Saab, and even a spate of recalls on cars like the 2010 Chevrolet Cobalt, much of the press surrounding GM is negative and...Read More»
After having been very publically ejected from the company late last year, former GM CEO Fritz Henderson has been reinstated with a cushy consulting role less than three months on. In early December, 2009 Henderson was asked by the then Chairman of the Board, Ed Whitacre, to resign just days before...Read More»
His deep, slow-moving Texan drawl belies his razor-sharp acumen, but the biggest surprises to come out of Ed Whitacre's briefing today ahead of the 2010 Detroit Auto Show are his sense of humor and his frank yet optimistic outlook on GM's future. For instance, Whitacre believes GM will be...Read More»
Last week, as the automotive world counted down the clock on Ed Whitacre's self-imposed December 31 deadline to sell Saab, General Motors' CEO had a change of heart and gave would-be buyers of the troubled Swedish brand an extra week to get their act together. Unfortunately, we're not entirely sure...Read More»
On Christmas Eve, we reported that General Motors had just hired Microsoft CFO Chris Liddell to be its new chief financial officer, and that he was rumored to be in the running for the CEO desk. Now, some new and intriguing chatter says that GM may in fact be looking to one of Microsoft's biggest...Read More»
A few weeks ago, General Motors' chairman Ed Whitacre was on a spree: he'd sacked the company's CEO, canned and shifted many others on the executive team, and boldly said that if a buyer for Saab weren't found by December 31, the brand would bite the big one. Fortunately for Saab fans, Whitacre's...Read More»
General Motors' chairman Ed Whitacre has said that he's prepared to shutter Saab if a buyer isn't found by December 31. Spyker's still clinging to the bargaining table, and there are even whispers of interest from Mahindra, but on the whole, things aren't looking good for Saab and its loyal fans...Read More»
Back in February, the federal government set a limit of $500,000 on executive salaries at any company that received bailout dollars. Of that total, only 45% could be in cash, with the remaining 55% made up of cash incentives, paid over two years. Now, Kenneth Feinberg, the U.S. paymaster for...Read More»
High Gear Media has partnered with Tesla Motors on a new writing contest where YOU can win a tour and road test of the 2010 Tesla Roadster Sport. You can submit as many articles as you like and enter multiple times. Enter now! Last week, we told you about General Motors' "Comprehensive Plan to...Read More»
Apparently, Fritz Henderson's dismissal was just the first item on GM Chairman Ed Whitacre's to-do list. Brent Dewar, the head of GM's Chevrolet brand, has also been kicked to the curb: he'll retire on April 1, 2010 and will be replaced by Jim Campbell, who led GM's fleet and commercial sales. But...Read More»
UPDATE: Following this morning's 9 am conference call for GM employees, further details have emerged on the latest shakeup at General Motors. “I want to give people responsibility and authority deeper in the organization, and then hold them accountable," said chairman of the board Ed Whitacre. To...Read More»
