General Motors – News Stories About General Motors - Page 29

May 19, 2008 7:52 AM CDT

American Axle Deal Restarts GM Plants

Wage cuts, buyouts, buydowns, plant closings a bitter pill for workers

(Newser) - General Motors is poised to resume production at dozens of idled plants as workers at American Axle & Manufacturing, a key GM supplier, have reached a tentative deal in their 11-week-old strike. The UAW strike had all but stopped the production of GM's highly profitable SUVs, pickups, and vans, reports...

Companies Bypass
Microsoft Vista

May 13, 2008 12:00 PM CDT

Companies Bypass Microsoft Vista

Some wait for Windows 7 instead

(Newser) - Companies like General Motors and Alaska Airlines are considering bypassing Microsoft’s latest operating system. Facing problems getting Vista to work on its computers, GM may simply wait for Windows 7, due in 2010 or 2011. Consumer hesitation on Vista finally hurt Microsoft in the last quarter, when profits slipped...

High Court OKs Apartheid Cases

May 12, 2008 7:14 PM CDT

High Court OKs Apartheid Cases

Claims against big corporations can proceed in federal court

(Newser) - Apartheid victims can sue corporations that dealt with South Africa’s government before 1995, the Supreme Court said today. But the judges did not render a decision, as four of the nine recused themselves, likely due to personal stock holdings. The claims seek $400 billion from companies including Exxon, Citigroup,...

GM's SUVs May Get Smaller

May 9, 2008 2:55 PM CDT

GM's SUVs May Get Smaller

Firm considers switch to car chassis

(Newser) - General Motors has long used truck chassis as the foundation of its largest SUVs: the Escalades, Tahoes, and Yukons. But with fuel costs going nowhere but up and stricter fuel standards on the horizon, GM is considering switching those models to lighter car-sized underpinnings when they come up for redesign...

GM Posts $3.3B Loss on Weak US Market, Strikes

earnings report

Apr 30, 2008 7:16 AM CDT

GM Posts $3.3B Loss on Weak US Market, Strikes

(Newser) - General Motors today posted a $3.3 billion first-quarter loss, AP reports, due in part to a weak US market, a strike at a major supplier, and plummeting sales of sport utility vehicles and pickups. The loss amounted to $5.74 per share, including one-time charges. Without the charges, it...

Kerkorian Bets Big on Ford Turnaround

Apr 28, 2008 4:22 PM CDT

Kerkorian Bets Big on Ford Turnaround

Investor buys 100M shares, taking 4.7% stake after strong Q1

(Newser) - Investor Kirk Kekorian is gobbling up shares of Ford in move seen as a vote of confidence for the automaker’s turnaround efforts, the Wall Street Journal reports. Kerkorian’s Tracinda has bought about 100 million shares and holds a 4.7% stake in the firm. Tracinda also offered to...

Toyota Overtakes GM in Q1

Apr 23, 2008 1:29 PM CDT

Toyota Overtakes GM in Q1

US giant's worldwide sales off 0.6% as overseas growth mitigates domestic dip

(Newser) - GM’s vehicle sales fell 0.6% in the first quarter, helping Toyota, on 2.7% growth, take the global sales lead, the Wall Street Journal reports. Toyota sold 2.41 million vehicles worldwide to 2.25 million for the American giant, which was hurt badly by a 10.2%...

Wal-Mart Tops Fortune 500

Apr 21, 2008 4:07 PM CDT

Wal-Mart Tops Fortune 500

Exxon Mobil repeats 2007 performance, finishes second

(Newser) - Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports....

Stocks Fall as Oil Prices Surge

MARKETS

Apr 9, 2008 3:45 PM CDT

Stocks Fall as Oil Prices Surge

American Express and UPS decline

(Newser) - Stocks fell today on bad news on earnings and record prices for crude oil. American Express, General Motors, and UPS all took hits. "The negative UPS news could shake confidence in the broader transport stocks," an analyst tells the Wall Street Journal. The Dow ended down 49.18...

Pickup Sales Plummet to 10-Year Low

Apr 9, 2008 7:35 AM CDT

Pickup Sales Plummet to 10-Year Low

Trucks can't pull their weight as gas prices rev up, housing stalls

(Newser) - US pickup truck sales tumbled in March, hitting their lowest level in nearly a decade. The Big Three all reported double-digit percentage drops in sales this month—the Dodge Ram was down 26%—and large pickups represented barely more than 10% of the auto market. High gas prices added fuel...

Detroit Looks
to Pump Up Exports

Apr 8, 2008 12:47 PM CDT

Detroit Looks to Pump Up Exports

US automakers say cheap dollar, low-cost labor puts them in driver's seat

(Newser) - The dollar’s declining value, lower labor costs, and other terms of new UAW deals have US automakers looking overseas as they attempt to reclaim market share and profitability, reports the Wall Street Journal. About half of US vehicle exports in 2007, which totaled $50.66 billion, went to Canada...

March Auto Sales
Hit the Skids

Apr 2, 2008 4:00 AM CDT

March Auto Sales Hit the Skids

GM, Chrysler Down 19%, Toyota, Ford Dip 10%

(Newser) - US auto sales plummeted last month, with GM and Chrysler's March sales diving 19%, and Ford and Toyota's down 10%, the Wall Street Journal reports. Rising gas prices, the credit crisis and fear of the future are blamed for the troubling trend. Detroit is bracing for even more bad news...

Experts Deride McCain’s Mortgage Crisis Fix

Mar 26, 2008 12:52 PM CDT

Experts Deride McCain’s Mortgage Crisis Fix

Current woes not comparable to '01 factors that prompted GM to offer 0% financing

(Newser) - Economists, and rivals, are scoffing at John McCain’s ideas for countering the nation’s foreclosure crisis, taking aim at the suggestion that top lenders follow the post-9/11 example of General Motors—which offered 0% financing on new cars. But experts note that GM had its own interests in mind—...

Small Is the New Big

Mar 20, 2008 2:36 PM CDT

Small Is the New Big

Automakers turn attention to the subcompact, abroad and at home

(Newser) - Ever-increasing gas prices, environmental concerns and demand in developing countries are leading worldwide small-car sales past those of larger counterparts, Newsweek reports. With cars like India’s Tata Nano set to overhaul the auto industry by offering new mobility to millions, US automakers are scrambling to retool their businesses to...

Car Makers Prepare for a Crash

Mar 20, 2008 9:06 AM CDT

Car Makers Prepare for a Crash

Big Three see sales slump ahead

(Newser) - The slumping US economy is casting shadows over the New York Auto Show, as industry forecasters this week cut their projections for sales of new cars and light trucks in 2008 to less than 15 million, the lowest level in 14 years. Chrysler, GM, and Ford, who had been projecting...

US Car Sales Sink in Slow Economy

Mar 3, 2008 9:45 PM CST

US Car Sales Sink in Slow Economy

GM, Ford, Chrysler, and Toyota saw sales fall last month

(Newser) - A tumbling US economy hit Ford, General Motors, Chrysler, and Toyota today as all four posted declining sales for last month, Bloomberg reports. Chrysler fell 14% as Ford dropped nearly 7% and GM suffered almost a 20% drop in light truck sales. "Primarily it's driven by the weak economy,...

NAFTA Casts Wide Shadow on Ohio Vote

Mar 1, 2008 5:50 PM CST

NAFTA Casts Wide Shadow on Ohio Vote

Clinton, Obama look to score points bashing trade pact

(Newser) - As Hillary Clinton and Barack Obama battle for votes in Ohio, each pushes a simple theme: NAFTA is bad. Ohio has been hit hard by free trade, which is why Obama reminds voters that Bill Clinton backed NAFTA. And both hopefuls have mined each other's comments for anything that favors...

Nissan Murano Top Pick
for Safety Among SUVs

Feb 26, 2008 2:20 PM CST

Nissan Murano Top Pick for Safety Among SUVs

Hummer's H3 does not fare well in industry tests

(Newser) - The 2009 Nissan Murano snagged the best safety rating out of 10 midsize SUVs in industry-run crash tests, the Detroit Free Press reports. The Murano was the only one to receive the top "good" rating in front, side, and rear crashes. The Mazda CX-7 and CX-9, and the Mitsubishi...

Soured Deals Dog Brash Cerberus

Feb 25, 2008 1:15 PM CST

Soured Deals Dog Brash Cerberus

Chrysler, GMAC struggles point to problems for private equity giant

(Newser) - The continued struggles of Chrysler and GMAC—two of Cerberus Capital Management’s largest and most recognized purchases—have observers wondering if the private equity darling has lost its Midas touch, reports Reuters. S&P has downgraded GMAC’s credit rating, Chrysler's January sales slipped 12% even as the company...

Lobbyists Pack Ethics Crusader McCain's Staff

Feb 22, 2008 8:00 PM CST

Lobbyists Pack Ethics Crusader McCain's Staff

Forget Iseman: Senior advisers represent major corporations

(Newser) - Vicki Iseman is just the tip of the iceberg when it comes to John McCain’s associations with lobbyists, the Washington Post reports. McCain targets special interests, but his campaign manager and top advisers are or have been lobbyists representing some of the country’s biggest corporations. Top adviser Charles...