While GM has been operating on borrowed funds in recent times, there has been an extensive effort by the company to reduce costs and stem the financial bleeding.

GM’s renewed focus is starting to pay dividends, with GM CFO Ray Young announcing that the carmaker will not require the USD $2 billion in Federal loans it was [...]

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After having spent an undoubtedly gruelling two weeks with President Obama’s automotive task force - most of it, most certainly, on ‘the rack’ - GM and Chrysler will now play host on home turf in Detroit.

The US Government task force has been sent to Detroit to get a closer, on-the-job look at the inner workings of America’s struggling giant [...]

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US President Barack Obama on Tuesday (US time) addressed a joint session of Congress for the first time since taking office, and in it he laid out his plans for the world’s largest economy, currently deep in recession.

In his address, which covered a range of critical issues confronting the troubled economy including healthcare and foreign debt, the [...]

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With the deadline for GM’s restructuring plan due Tuesday US time, reports from the cash-strapped automotive giant indicate that GM will be presenting the US Congress with two costly alternatives for its future.

GM is expected to offer the US government the choice of two equally unpalatable options: either commit billions more in bailout dollars, or provide financial backing to GM [...]

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A severe drop in vehicle sales worldwide and the desperate need to restructure “for long-term viability” has forced General Motors to confirm that it will be cutting 10,000 jobs by the end of this year.

The job cuts will see the company’s global workforce fall from 73,000 to 63,000 -  3400 of these jobs will come [...]

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GM has just outlined its plan for the immediate future to the US Congress in an effort to secure billions in US taxpayer-funded bridge loans to stave off bankruptcy. The proposed measures include selling Saab and Hummer, shedding up to 25,000 jobs and closing 1750 dealerships.

The clincher is that GM has raised the total it [...]

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