DETROIT, Aug 27- General Motors Co and the United Auto Workers on Wednesday trumpeted the news that production of the Cadillac SRX would be shifted from Mexico to Tennessee, but Reuters has learned that GM also plans to move some other assembly work in the opposite direction.» Read More
Ford Motor executives met Friday with the Obama administration's auto industry task force but the company said it was not seeking emergency financial aid.
CNBC has learned that despite the fact that Pontiac is the official car of the NCAA and the final games are being played in the city of GM's headquarters, the car company is not inviting anyone to watch the action from the luxury suites at The Palace at Auburn Hills.
Top GM executives are taking their pleas for billions in new loans to the administration's auto task force. Do you think we should bailout GM at any cost?
General Motors is open to an alternative viability plan, said Ray Young, the company’s CFO ahead of meetings between executives and U.S. Treasury Secretary Timothy Geithner and White House economic adviser Larry Summers on Thursday.
As expected, General Motors posted horrendous 4th quarter numbers this morning with the company losing $9.6 Billion. For all of 2008 GM lost $30.9 Billion making it one of the worst years ever for the auto maker.
Gerald Greenwald, a founding partner at Greenbriar Equity Group, joined CNBC today to give his opinion on the ailing economy and his hopes that GM can avoid Chapter 11 bankruptcy.
Tuesday afternoon Ford took another huge step in showing it's committed to cutting costs and "sharing the pain".
An Obama administration task force considering the fate of General Motors and Chrysler is discouraging bankruptcy protection as an option for the struggling companies, two senators said Tuesday.
Remember when Barack Obama was campaigning for President and he went to Detroit with a very unpopular message in Motown? In essence he told an audience filled with auto execs it was time for them to start building fuel efficient vehicles, hybrids, and models that would lead Detroit out of its money losing ways.
Stocks fell flat as investors grew more confident that the government will stabilize the battered financial sector, but technology remained weak.
The man many thought would be "Car Czar" will now be leading the task force looking at how to fix General Motors and Chrysler. Steven Rattner is joining the Obama team as counselor to Treasury Secretary Timothy Geithner.
With the UAW and Ford announcing they have agreed on a plan to re-work funding of union's Voluntary Employee Beneficiary Association, it is an important step not only for Ford, but GM and Chrysler as well.
When I woke this morning and surveyed what the morning papers carried about the auto industry, one article in the Detroit News about what cars the Obama Auto Team members own caught my attention -- It brings up the question: Will the cars these members drive influence their decisions regarding GM and Chrysler?
US stock index futures pointed to a higher open Monday as shares of Citigroup soared over 25 percent in pre-market trading, following reports the government could up its stake in the Wall Street giant.
Halfway through the trading day, GM shares hit levels not seen since 1938....A lot investors are starting to wonder if GM stock is worthless.
The Presidential Automotive Task Force is meeting today, and there is no shortage of advice for them from the Street.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
It appears GM will need more money from the Obama administration to stay afloat. A lot more money. What's the trade?
Saturn owners are getting an e-mail today that essentially tells them their beloved brand is not going to die.
Businesses filing for bankruptcy need loans to work out their troubles, or face liquidation. But General Motors and its smaller rival, Chrysler, have threatened that they will need $125 billion, in what would be the largest bankruptcy financing packages ever, if they do not receive the additional federal aid they are requesting.