Wow – what a day. As we continue coverage of GM’s bankruptcy, which is known as the third-largest in U.S. history, we take a short break to bring you some of the random things we’ve been coming across today from our editor’s desk.
Unfortunately, those random things are also surrounded by the GM bankruptcy. Don’t worry, June 1 will be over before you know and we promise to have something very exciting for you in the later half of the week (hint: it has to do with us driving the 2010 Ford Mustang GT Convertible for the last 5 days) – so stay tuned.
RECAP of GM’S June 1 Bankruptcy Filing:
GM officially files for bankruptcy, “˜New GM” to emerge in 60 to 90 days
GM of Europe secures €1.5 billion to complete Opel sale to Magna
LIVE: GM CEO Fritz Henderson from GM building in NYC
Obama: I have no interest in running GM
GM: New products on track, 14 hybrid models coming by 2012
GM to shutter 2,100 dealers, close 14 plants by 2012
Video: GM Reinvention commercial enlightens you about “˜New GM”
Poll: Which GM vehicle are you looking forward to the most?
Ford releases statement regarding GM”s bankruptcy
GM requests $15 billion from U.S. bankruptcy financing: President Barack Obama has pledged up to $30.1 billion to help restructure GM and bankruptcy and the General is wasting no time in requesting that money. According to Automotive News, the Detroit automaker has asked to borrow $15 billion from its debtor-in-possession bankruptcy financing provided by the U.S. Treasury Department.
GM cutting 3,000 white-collar jobs: General Motors said today that it plans to cut about 3,000 more white collar workers this year in the United States. GM”s U.S. salaried employment level will be around 23,000 next year said CEO Fritz Henderson. – Free Press
Toyota wants to keep NUMMI agreement with GM: According to Automotive News, Toyota said today that it wants to continue its partnership with General Motors at the California plant where both automakers build the Pontiac Vibe, Toyota Tacoma and the Toyota Corolla and Matrix. As you all know by now Pontiac by the end of next year. Speaking to press CEO Fritz Henderson said: “The Vibe will go down with the phase out of Pontiac so there would be no need for NUMMI,” he said. “We’ve reached out and talked to them about what we might do and if we might have any interest in going forward with a partnership, but nothing has been decided.”
– By: Omar Rana