Uncertainty worries workers at Spring Hill GM plant Posted: var wn_last_ed_date = getLEDate(“Mar30, 2009 6:09 PM EST”); document.write(wn_last_ed_date); March 30, 2009 05:09 PM CDT President Obama said no Monday to loaning billions more to two of the three big auto makers. GM and Chrysler were seeking more than $21 billion to keep their assembly lines [...]
Tuesday, March 31, 2009 GM must cut deal with bondholders Obama warns of high debt risk if carmaker files for bankruptcy Robert Snell / The Detroit News General Motors Corp. CEO Rick Wagoner may have lost his job, but the Obama administration Monday warned bondholders they risk losing much more, namely billions in debt payments [...]
Tuesday, March 31, 2009 GM, Chrysler in crisis Feds: Bankruptcy may be best option David Shepardson and Gordon Trowbridge / Detroit News Washington Bureau Washington — President Barack Obama asserted sweeping control over the fate of General Motors Corp. and Chrysler LLC on Monday, grimly warning they may be forced into a short-term bankruptcy in [...]
Tuesday, March 31, 2009 Daniel Howes Commentary: Obama effectively becomes CEO-in-chief President Obama says he wants to save America’s auto industry. He says General Motors Corp., under a new CEO, has 60 days to sharpen its restructuring or submit to bankruptcy. He’s giving Chrysler LLC 30 days to complete an alliance with Fiat SpA of [...]
Tuesday, March 31, 2009 Obama picks ex-deputy Labor secretary to be auto industry point man Former MSU professor will monitor GM and Chrysler restructuring Gordon Trowbridge / Detroit News Washington Bureau Washington — The Obama administration’s point man for bringing aid to battered auto industry communities is a wide-ranging academic with a sensitivity to the [...]
Corker worries TN plant could be targeted Gannett By Bill Theobald, Gannett Washington Bureau Sen. Bob Corker said Monday that the Obama administration is making a "power grab” in directing the makeover of General Motors, and he wants to make sure it doesn’t close GM’s Spring Hill plant for political reasons. "Certainly, I’m laying [...]
Monday, March 30, 2009 Japanese automakers worry about GM, Chrysler Yuri Kageyama / Associated Press Tokyo– Japanese automakers reacted with anxiety to news that ailing U.S. automakers General Motors and Chrysler had failed to submit acceptable plans to receive more government money, increasing the odds they may have to file for bankruptcy protection. The news [...]
Monday, March 30, 2009 Daniel Howes Wagoner takes the fall for GM Auto task force’s close look at company leads to decision that management is to blame As soon as President Barack Obama began using the words "failed management" in connection with the prospect of more federal aid for General Motors Corp., CEO Rick Wagoner’s [...]
Monday, March 30, 2009 Feds to take hands-on role in GM, Chrysler restructuring David Shepardson / Detroit News Washington Bureau Washington — The Obama administration will take a much more hands-on role in the restructuring of General Motors Corp. and Chrysler LLC, providing both with short-term aid but insisting on and overseeing immediate dramatic changes. [...]
GM’s Wagoner quits under U.S. pressure as 2nd bailout nears Henderson is CEO, Northrop’s Kresa interim chairman queryvar=”gms,wagoner,quits,under,us,pressure,as,2nd,bailout,nears”; Automotive News | March 30, 2009 – 12:01 am EST WASHINGTON (Reuters) — General Motors CEO Rick Wagoner has resigned under pressure from the Obama administration as the government prepares to announce today a second [...]
Sunday, March 29, 2009 GM: Obama administration to make announcement on restructuring soon The Detroit News General Motors Corp. issued a brief statement Sunday saying it expected an announcement soon from the Obama administration regarding the U.S. auto industry’s restructuring but declined to comment further. "We are anticipating an announcement soon from the Administration regarding [...]
Sunday, March 29, 2009 Wagoner forced out at GM Christine Tierney and David Shepardson / The Detroit News General Motors Corp. Chairman and Chief Executive Officer Rick Wagoner is stepping down immediately after being asked by the Obama administration to give up his position at the helm of the largest U.S. automaker, people familiar with [...]
Staff and wire reports Automotive News | March 29, 2009 – 5:29 pm EST GM’s Wagoner to quit as Obama readies decision, sources say queryvar=”gms,wagoner,to,quit,as,obama,readies,decision,sources,say”; DETROIT — General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker’s request for additional government [...]
March 28, 2009 Obama readies auto aid; GM bondholders get offer BY TIM HIGGINS and JUSTIN HYDE FREE PRESS BUSINESS WRITERS After briefings with President Barack Obama this week, his auto task force met Friday, "winding down the decisions that have to be made" about the U.S. auto industry, White House spokesman Robert Gibbs said. [...]
Saturday, March 28, 2009 Auto aid to come with more strings Obama to announce bailout plan Monday; GM execs briefed as task force works through weekend. David Shepardson / Detroit News Washington Bureau WASHINGTON — President Barack Obama will offer his long-awaited assessment of the viability of struggling General Motors Corp. and Chrysler LLC on [...]
