General Motors Corp

Auto execs face House committee

Times of the Internet (Free subscription) | 26 minutes ago

WASHINGTON, Dec. 5 (UPI) -- U.S. auto executives faced another day of grilling in Washington Friday, this time in front of the House Financial Services Committee. Chief executive officers from Ford Motor Co., General Motors Corp. and Chrysler LLC appeared at a Senate hearing Thursday in a six hour session in which they pitched further industry cutbacks and a focus on fuel-efficiency while asking for...

• Auto Execs Drive (Gulp!) to D.C. - Live Science
• GM and Chrysler considering bankruptcy to get bailout - Reuters UK
• See the 55 articles on the same subject

GM, Chrysler "considering bankruptcy"

People Daily (Free subscription) | 12 hours ago

General Motors Corp and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions. Auto executives have warned bankruptcy would lead to liquidation as customers abandoned the companies. Staff for three members of Congress have asked restructuring experts...

General Motors, Chrysler mull bankruptcy to get US bailout

Indian Express (Free subscription) | yesterday

General Motors Corp and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions.

GM Bankruptcy Option Under Discussion

Safehaven (Free subscription) | 14 hours ago

General Motors Corp. and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions.

‘We can’t afford to see GM fall down,’ Baltimore business leaders say

The Baltimore Business Journal (Free subscription) | yesterday

If Congress neglects to provide automotive giant General Motors Corp. with an $18 billion lifeline, it would have a significant impact on Greater Baltimore. (GM) (GM)

GM Bankruptcy Option Under Discussion

Mish's Global Economic Trend Analys (Free subscription) | yesterday

Bloomberg is reporting GM, Chrysler May Accept Bankruptcy to Receive Bailout General Motors Corp. and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions. Auto executives have warned bankruptcy would lead to liquidation as customers abandoned the...

U.S. senators grill auto CEOs

Reuters UK (Free subscription) | 9 hours ago

WASHINGTON (Reuters) - The chief executives of General Motors Corp and Chrysler LLC said they would consider restarting merger talks if needed to win their slice of up to $34 billion (23.2 billion pounds) in emergency U.S. government aid.

• Understanding but no consensus on auto bailout - Boston Globe
• US senators grill CEOs as GM-Chrysler eye deal - Mail & Guardian

US carmakers take bail-out plea before Congress - again

The Earth Times Online Newspaper (Free subscription) | yesterday

Washington - The heads of the United States' three ailing carmakers headed to Congress Thursday for the second time in less than a month to ask for a 34-billion-dollar bail-out in light of an economic recession. General Motors Corp, Ford Motor Co and...

S&P cuts GM to 'CC' on possible distressed debt exchange

Market Watch (Free subscription) | yesterday

SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Thursday lowered General Motors Corp.'s corporate credit rating to the "most speculative" grade of CC from CCC+. The downgrade follows GM's announcement that it will seek to reduce its current debt burden by more than half as it attempts to reduce cash outflows and win support for the new U.S. government-backed loans. "We believe...

Clarke tells pension fund to consider RenCen buy

Detroit Free Press (Free subscription) | yesterday

LANSING — A state senator from Detroit says the Michigan state pension fund should consider buying the Renaissance Center from General Motors Corp. and then leasing it back to the automaker.

Detroit-friendly Democrats to buck public opinion

The Washington Times (Free subscription) | 2 hours ago

The heads of America's Big Three automakers - General Motors Corp., Ford Motor Co. and Chrysler LLC - descended on Washington on Thursday in a convoy of hybrid and flex-fuel vehicles seeking $34 billion in loans to save the floundering U.S. auto industry. They look certain to get the bailout, but U.S. public opinion, even in the Midwest heartland where the industry is based, remains surprisingly lukewarm,...

GM, Chrysler "considering bankruptcy"

Xinhuanet (Free subscription) | 12 hours ago

General Motors Corp and Chrysler LLC executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, said a person familiar with their internal discussions.• Plummeting auto sales contribute to budget shortfalls across U.S.

Will GM and Ford Get What They Want?

SeekingAlpha.com (Free subscription) | yesterday

FP Trading Desk submits: General Motors Corp. (GM) has made it clear that it needs $4-billion in funds immediately in order to prevent a liquidity crisis before the end of the year. Earlier this week, it asked for a $12-billion Federal term loan facility and a $6-billion credit line, while detailing the proposed structure of this assistance as part of a larger restructuring plan submitted to Congress....

• Tom Walsh : Numbers prove it: Time running short for Congress to act - Detroit Free Press

Struggling GM may pull plug on Saturn brand

Baltimore Sun (Free subscription) | yesterday

Division was created to compete with efficient imports but has never shown a profit, making it vulnerable as automakers struggle General Motors Corp. launched its Saturn division in 1985 as a "different kind of car company," one given the task to sell cars in a new way and compete with Japanese juggernauts like Honda and Toyota.

The 'Big Three' Plans to Stand Tall

SeekingAlpha.com (Free subscription) | 3 hours ago

Money Morning submits: By William Patalon III and Mike Caggeso The U.S. “Big Three” of General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp . submitted their turnaround plans to Congress Tuesday, hoping for approval of a massive loan package they say is central to their survival. And while the plans include such politically palatable moves as salary cuts for top-tier executives, the sale...