US to give Chrysler $500M, GM $5B in new aid Funds meant to help Chrysler reach an alliance with Fiat and GM to restructure outside of bankruptcy. April 21, 2009: 9:38 AM ET WASHINGTON (Reuters) — The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as [...]
Wednesday, April 22, 2009 Obama says GM, Chrysler must ‘build cars of the future’ David Shepardson / Detroit News Washington Bureau Washington — President Barack Obama said today the government must create incentives for Americans to drive fuel-efficient cars, while pledging to regulate tailpipe emissions. "We must create the incentives for companies to develop the [...]
Wednesday, April 22, 2009 GM to close plants for up to 9 weeks this summer David Shepardson and Rob Snell / The Detroit News General Motors Corp. is expected to announce Friday it’s cutting about 170,000 vehicles from its planned production this year, closing factories for as long as nine weeks this summer as the [...]
Keith Crain and Peter Brown and Dave Guilford Automotive News | April 20, 2009 – 12:01 am EST Henderson: GM needs ‘right dealer in the right spot’ queryvar=”henderson:,gm,needs,right,dealer,in,the,right,spot”; Fritz Henderson, General Motors’ new CEO, must carry out the "deeper and faster" restructuring demanded by President Barack Obama’s task force overseeing automotive bailouts. Installed [...]
GM says it probably won’t make $1 billion debt payment queryvar=”gm,says,it,probably,wont,make,$1,billion,debt,payment”; Automotive News | April 22, 2009 – 1:40 pm EST General Motors said today it probably won’t make a $1 billion debt payment due June 1. Instead of making the payment, the automaker is hoping for a successful debt-for-equity exchange with its [...]
Sources: GM to close plants up to 9 weeks Most facilities to be affected; usual summer shutdowns last two weeks The Associated Press updated 6:39 p.m. CT, Wed., April 22, 2009 function UpdateTimeStamp(pdt) { var n = document.getElementById(“udtD”); if(pdt != ” && n && window.DateTime) { var dt = new DateTime(); pdt = dt.T2D(pdt); if(dt.GetTZ(pdt)) [...]
