tagged w/ GM
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A new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers.A new General Motors emerged from bankruptcy protection on Friday -- far more quickly... more
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The new General Motors arose on Friday as lawyers finished an all-night paperwork session transferring the automaker's good assets to a brand-new company controlled by the U.S. government.The new General Motors arose on Friday as lawyers finished an all-night paperwork... more
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A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to quickly emerge from bankruptcy protection.A bankruptcy judge has ruled that General Motors Corp. can sell the bulk of its assets... more
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About 4,000 more salaried workers at General Motors Corp. will lose their jobs by the end of the year as the automaker continues to downsize.
The company notified its more than 27,000 U.S. white-collar workers by e-mail Tuesday that that it will offer standard severance packages, and employees near retirement age will have the opportunity to retire early, spokesman Tom Wilkinson said.
Some involuntary cuts will be necessary, Wilkinson said, as GM tries to shrink its U.S. salaried work force to around 23,500 by year’s end.
The automaker is in Chapter 11 bankruptcy protection and has received about $20 billion in loans from the U.S. government. The Treasury Department’s auto task force is overseeing its plans to restructure and emerge from bankruptcy as a leaner, more competitive company.
Wilkinson said the Treasury Department has approved the retirement offers and severance packages. He would not give an estimate of how much the packages will cost the company.
“We were able to do this because it’s a cost-effective way to get these reductions,” he said Tuesday.
GM already has reduced its salaried work force by more than 2,000 so far this year. The company started 2009 with about 29,650 workers, Wilkinson said.
Workers who agree to leave the company will get standard severance packages of two weeks’ pay for every year of service, up to six months of pay, Wilkinson said. For those near retirement age, there are packages that will let them retire early with benefits, he said.
Involuntary cuts will be made based on performance, skills and length of service, Wilkinson said.
Workers have been told to reply to the latest offers by Aug. 3. The company plans to finalize who will be cut by Oct. 1, he said.
Cuts will vary by department, with some seeing fewer than others. For example, electric vehicle development, which the company is banking on for future sales, would be fewer cuts than other areas, Wilkinson said...About 4,000 more salaried workers at General Motors Corp. will lose their jobs by the... more
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Even in this recession, QVC and Home Shopping Network are doing their best to sell you all the crap you don't need. Live 24 hours a day, 7 days a week.
infoMania is a half-hour satirical news show that airs on Current TV. The show puts a comedic spin on the 24-hour chaos and information overload brought about by the constant bombardment of the media. Hosted by Conor Knighton and co-starring Brett Erlich, Sarah Haskins, Ben Hoffman, and Sergio Cilli, the show airs on Thursdays at 10 pm Eastern and Pacific Times and can be found online at http://current.com/infomania/ or on Current TV. And make sure to check out our facebook profile for special features at http://infomaniafacebook.com.Even in this recession, QVC and Home Shopping Network are doing their best to sell you... more
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This week on infoMania The Real Housewives of New Jersey say goodbye in style, Heidi and Spencer just wont go away, home shopping networks are booming, Bryan explains why gays should abandon their quest for marriage rights, Sergio looks at the hottest music videos on YouTube, and as the world welcomes the new iPhone, Ben revisits his favorite iPhone apps.
infoMania is a half-hour satirical news show that airs on Current TV. The show puts a comedic spin on the 24-hour chaos and information overload brought about by the constant bombardment of the media. Hosted by Conor Knighton and co-starring Brett Erlich, Sarah Haskins, Ben Hoffman, and Sergio Cilli, the show airs on Thursdays at 10 pm Eastern and Pacific Times and can be found online at http://current.com/infomania/ or on Current TV. And make sure to check out our facebook profile for special features at http://infomaniafacebook.com.This week on infoMania The Real Housewives of New Jersey say goodbye in style, Heidi... more
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This week on infoMania Brett Michaels gets floored at the Tony Awards. Sherri Shepherd talks anatomy on 'The View.' Heidi and Spencer get all, like, spiritual in the jungle. Spike TV uses science, history, and stupid-ness to determine the Deadliest Warrior of all time. Sarah Haskins wonders why best friends in commercials are always trying to sell each other stuff. Sergio
Cilli checks out the most popular music videos on iTunes. And Brett Erlich enjoys the great outdoors vicariously.
infoMania is a half-hour satirical news show that airs on Current TV. The show puts a comedic spin on the 24-hour chaos and information overload brought about by the constant bombardment of the media. Hosted by Conor Knighton and co-starring Brett Erlich, Sarah Haskins, Ben Hoffman, and Sergio Cilli, the show airs on Thursdays at 10 pm Eastern and Pacific Times and can be found online at http://current.com/infomania/ or on Current TV. And make sure to check out our facebook profile for special features at http://infomaniafacebook.com.This week on infoMania Brett Michaels gets floored at the Tony Awards. Sherri... more
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General Motors has recently been running a commercial that aims to put a positive spin on bankruptcy. This version is funnier.
infoMania is a half-hour satirical news show that airs on Current TV. The show puts a comedic spin on the 24-hour chaos and information overload brought about by the constant bombardment of the media. Hosted by Conor Knighton and co-starring Brett Erlich, Sarah Haskins, Ben Hoffman, and Sergio Cilli, the show airs on Thursdays at 10 pm Eastern and Pacific Times and can be found online at http://current.com/infomania/ or on Current TV. And make sure to check out our facebook profile for special features at http://infomaniafacebook.com.General Motors has recently been running a commercial that aims to put a positive spin... more
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It was my privilege to interview Christopher Barger, Director of Social Media at General Motors, this past Monday morning.
General Motors has been under deep scrutiny lately. The car company’s recent bankruptcy is the largest industrial bankruptcy in American history. This is why the GM Social Media Team plays such an important role.
Please read highlights from the interview and download the first Social Nerdia podcast to listen to it in its entirety at: www.socialnerdia.comIt was my privilege to interview Christopher Barger, Director of Social Media at... more
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Step aside GM, c-ya Chrysler - don't let the door hitcha on the way out. The major American auto makers are now paying the price for their planned obsolescence and arcane business models. Their deal with the devil that is big oil has finally turned on them and they have hell to pay as a result. All those years of tacit collusion that stifled creativity and innovation are finally over. Look what the future has in store. Meet the the Tesla S, arguably the sexiest car on the planet. Definitely the hottest green vehicle ever built. This is what Capitalism was suppose to have brought us, cutting edge innovation and progress. This is what you get when you don't subvert the system for the advantage of the few. Gone is the darkness of the past, embrace the future of the new administration - let there be light...Step aside GM, c-ya Chrysler - don't let the door hitcha on the way out. The... more
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That statement wouldn't be all that horrible coming from the car babe at an auto show but that's a direct quote from the new Chairman of the Board of GM, Edward Whitacre. “I don’t know anything about cars,” Whitacre, 67 formally of AT&T. Whitacre vows to learn about cars but it doesn't bother him at this point.That statement wouldn't be all that horrible coming from the car babe at an auto... more
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General Motors Corp. says the former chairman and CEO of AT&T Inc. will become the chairman of the reorganized automaker later this summer.General Motors Corp. says the former chairman and CEO of AT&T Inc. will become the... more
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From funnyordie.com
With General Motors going bankrupt and the sale of Chrysler to Fiat hanging on the balance, what better way for a car dealer than to sell all of his staff... (Please handle large blades with care, it is dangerous)From funnyordie.com
With General Motors going bankrupt and the sale of Chrysler to... more
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What’s the best way to sell a car that gets 1992 style gas mileage? How about by ripping off an old Lemonheads song for your commercial? That’s exactly what Evan Dando claims Chevy has done with the ad above. Sure it would be a stupid business move to use “It’s a Shame about Ray” without permission, but then again, that just makes it all the more likely that GM did it.
See both videos here:
http://blogs.current.com/music/2009/06/08/everything-out-of-detroit/What’s the best way to sell a car that gets 1992 style gas mileage? How about by... more
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http://breakroomlive.com
BreakRoomLive w/ Maron & Seder is LIVE weekdays, 3-4pm from Air America's Break Room.
Sam Seder and BRL brings you another episode of Random Rush, where Sam listens to a random 60 seconds of Rush Limbaugh's Radio Show and then explains in 90 seconds why he's "full of crap".
In this episode, Rush is discussing the GM Bankruptcy and the heavy handed role he believes Obama will take throughout the process. While Rush believes this will cause problems, Sam explains why Rush's argument is the real problem that should be already debunked.
Catch comedy sketches, interviews, political & cultural discussions, & interact with hosts & guests live: 3pm, M-F @ BreakRoomLive.com!
BreakRoomLive w/ Marc Maron & Sam Seder is a production of http://airamerica.comhttp://breakroomlive.com
BreakRoomLive w/ Maron & Seder is LIVE weekdays, 3-4pm... more
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http://www.columbiamissourian.com
Saturn of Columbia, part of Lou Fusz Auto Group, was open for business as usual on Monday. Saturn, which is owned by General Motors, filed for bankruptcy Monday. ¦ LILLIAN J. KELLY
BY Missourian staff and wire reports
Customers and car dealers in Columbia faced frustration and uncertainty Monday after General Motors filed for Chapter 11 bankruptcy protection.
GM announced it would lay off more than 21,000 U.S. employees in the next 12 months, close nine plants, idle three more and remove 2,600 dealerships. The company plans to move forward with four core brands — Chevrolet, Cadillac, Buick and GMC — and cut about 500 dealerships that market the Saturn, Hummer and Saab brands.
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The sign for Sullivan Buick Pontiac and GMC is reflected in a car on the lot on Monday in Arlington Heights, Ill. General Motors filed for Chapter 11 bankruptcy protection on Monday as part of the Obama administration's plan to restructure the company and give majority ownership to the federal government.
Columbia has a Saturn dealership on Vandiver Drive, and potential buyers were anxious Monday about its fate. It is unclear whether GM plans to discontinue Saturn or sell it to another company.
Columbia resident Marcia Barclay has taken a Saturn Outlook on three recent test-drives, but said Monday she has become concerned about the car's future.
“I love the way it drives, but I’m not considering a Saturn," Barclay said. "I have no confidence in them right now. I have to see what would happen with the dealership. I’m afraid.”
Jennifer McKenzie of Columbia was taking her 2005 Saturn Vue in for service Monday but wondered about service contracts.
“I have a whole lot of worries about the warranty,” said McKenzie, who had intended for Saturn to remain the family vehicle.
“It’s a shame,” she said. “I have no trust in Saturn now.”
At Saturn of Columbia, salesman James Sullivan said Monday that he is not worried.
“There will still always be cars," he said. "The industry always comes back from a recession; it's just a matter of time." Sullivan said the dealership sold about 20 cars in the past week.
The U.S. Treasury Department has pledged to fully back warranties if GM is unable to do so. Everyone buying a new GM will receive warranty coverage as well, the company has said.
Saturn vehicles will still be covered under the GM Total Confidence Program, which includes product protection, family protection (OnStar), vehicle value protection and payment protection.
As of May 1, GM dropped coverage of Saab, Cadillac and Hummer vehicles under the Total Confidence Program.
Brandy Christy of Columbia owns a Hummer H3 and said she intends to keep it. She trusts the Hummer to keep her safe on the road due to its robust size, she said. It also has comparable gas mileage of other SUVs and handles well in poor weather, she added.
“These cars are a better deal than people think,” Christy said.
GM's bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. GM auto sales fell 45 percent over last year, compared to a decrease of 37 percent in total U.S. auto sales.
The bankruptcy action is part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.
As it reorganizes, the fallen icon of American industry will rely on $30 billion of additional financial assistance from the Treasury Department and $9.5 billion from Canada. That's on top of about $20 billion in taxpayer money GM already has received in the form of low-interest loans.
The Detroit automaker said plants will continue to make cars and trucks, and both essential suppliers and GM's 235,000 employees worldwide will continue to be paid. GMAC Fihttp://www.columbiamissourian.com
Saturn of Columbia, part of Lou Fusz Auto Group,... more
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A group of leading doctors has warned the public to avoid genetically modified food and GMOs (Genetically Modified Organisms). A revealing press release from this group of concerned physicians states, "The American Academy of Environmental Medicine (AAEM) today released its position paper on Genetically Modified foods stating that 'GM foods pose a serious health risk' and calling for a moratorium on GM foods."
On May 19th, the AAEM posted their landmark paper calling on “Physicians to educate their patients, the medical community, and the public to avoid GM (genetically modified) foods when possible and provide educational materials concerning GM foods and health risks. In addition to a moratorium on GM foods, these doctors also called for non-biased, long-term independent studies, and labeling of all foods containing GM ingredients.
AAEM’s position paper stated, “Several animal studies indicate serious health risks associated with GM food,” including infertility, immune problems, accelerated aging, insulin regulation, and changes in major organs and the gastrointestinal system. They conclude, “There is more than a casual association between GM foods and adverse health effects. There is causation,” as defined by recognized scientific criteria. “The strength of association and consistency between GM foods and disease is confirmed in several animal studies.”A group of leading doctors has warned the public to avoid genetically modified food... more
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General Motors Corp. has found a buyer for Hummer, a brand that was once a must-have accessory for the rich, but that came to symbolize the company's – not to mention the nation’s – attachment to gas-guzzling mega machines.
And the buyer, The New York Times reports, is a machinery company in western China, the Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd., based in Chengdu. The Times cited an anonymous source after GM kept details of the deal very much hush hush.
The Chinese company will buy a brand that started as the military’s Humvee and morphed into a civilian dream machine. But, GM is saying that the sale could save more than 3,000 U.S. jobs in manufacturing, engineering and at Hummer dealerships around the country. And it says the deal is expected to close by the end of the third quarter.
GM claims in its release that the buyer will “aggressively fund future Hummer product programs.”
GM will also keep building Hummers for the Chinese company, on a contract basis. That means that GM’s assembly plant in Shreveport, La., will continue to contract assemble the H3 and H3T models through at least 2010.
PickupTrucks.com’s Mike Levine reports that “the buyer has a proven track record in international business, knows the Hummer brand can perform better globally, has a long-term development plan and is willing to invest in future products.”
The Times reports that Sichuan Tengzhong is a privately owned company known in China for making road equipment from highway construction to maintenance machinery and that it had been moving into manufacturing heavy-duty trucks. If the deal is completed, it would mark the first large-scale U.S. automotive acquisition by a Chinese company.General Motors Corp. has found a buyer for Hummer, a brand that was once a must-have... more
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NEW YORK (CNNMoney.com) -- General Motors Corp. has signed a deal to sell its Hummer truck unit to a Chinese industrial company, a person with knowledge of the deal said Tuesday.
The news comes a day after GM (GMGMQ) filed for bankruptcy protection in New York. The company did not identify the buyer nor name a price, saying only that the deal would close by the end of September.
But a source identified the buyer as Sichuan Tengzhong Heavy Industrial Machinery Company Ltd. in China.
As part of the deal, some GM plants will continue to build the Hummer brand for the new owner, at least for awhile. The company said its Shreveport, La., plant will keep building Hummers for the new owner until at least 2010.NEW YORK (CNNMoney.com) -- General Motors Corp. has signed a deal to sell its Hummer... more
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