Gm

Chris Dodd: GM Head Must Step Down Under Any Bailout Agreement — Sen. Chris Dodd (D-Conn.) said that Rick Wagoner should step down as chief executive of General Motors as part of any government-supported restructuring process. "I think he has to move on," Dodd said on CBS's "Face the Nation". Dodd has been working over the weekend to craft a roughly $15 billion auto bailout package that would carry the Big Three through March of next year. The automakers requested $34 billion from Congress last week. Dodd said the smaller, short-term package would give lawmakers more time to consider a government oversight board or an administrative process to oversee the restructuring of... [Tags: administrative process, automakers, bailout package, cbs, chief executive]

Analysis: Toyota Takeover Could Save GM — In his prepared remarks before the Senate Banking Committee on Thursday, General Motors CEO Rick Wagoner Jr. spoke of the urgent need for federal assistance for the Big Three U.S. automakers. Wagoner insisted that such funding is not only necessary for GM, but vital to the U.S. economy as well. He specifically requested that the federal government make available $12 billion in short-term loans, along with a $6 billion line of credit in the event the current severe market downturn persists, with an immediate loan of $4 billion and a second draw of up to $4 billion in January.... [Tags: automakers, ceo, economy, federal assistance, federal government]

A Big 3 Band-Aid — Late yesterday congressional negotiators reached a compromise on what to do with the Big Three, at least in the short term. With the Bush Administration refusing to deal and the Senate Republicans adamant that the tarp money not be touched, Dems had little choice but to take money from the DOE's $25 billion modernization fund. In order to limit the damage to that fund -- $21 billion of which carmakers are already counting on to help get them from SUV-land to Prius-world – the Dems are only taking as much as needed by GM and Chrysler to get them... [Tags: advanced technology, band aid, bush administration, ceos, closed doors]

Images: a video tour of the GM Volt, electric cars — Take a closer look at the electric Chevy Volt and a number of electric and plug-in hybrid electric vehicles under development and already commercial.... [Tags: chevy volt, closer look, electric cars, gm, gm volt]

A visual tour of the GM Volt, electric cars — WASHINGTON--Amid an uncertain future for the U.S. auto giants, one of the most exciting products is the Chevy Volt, one of dozens of electric cars under development. General Motors showed off the 2011 Volt at the Electric Drive Transportation Association's Conference & Exposition this week. Several other vehicles--some ...... [Tags: amp, chevy volt, dozens, electric cars, exciting products]

Congress Weighing Major Restructuring of Auto Makers — How Bailout Might WorkGM, Chrysler Open to Merger... [Tags: auto makers, bailout, chrysler, congress, gm]

General Motors continues to falter; may discontinue Saturn — Saturn’s slogan is now “Rethink”, but it’s beginning to look like the GM-owned automaker is taking that sentiment in a completely different direction. After making an effort to rebrand the Saturn line and produce a variety of attractive vehicles, General Motors might pull the plug on the 23-year-old auto line. With rumors of bankruptcies and dealers going out of business (none of which were true), Saturn’s reputation has been taking some serious hits lately. It’s also no help that the US automotive industry is suffering and relying on the government for a bailout, so GM is going to strongly... [Tags: astra, auto line, automaker, automotive industry, bailout]

GM, Chrysler Are Open to Merger If Part of Bailout — Auto CEOs Face Skeptical CongressWill Big Three Survive?... [Tags: bailout, ceos, chrysler, gm, merger]

Automakers Present Final Plea — Executives of GM, Ford and Chrysler are presenting their latest bailout requests to Congress Thursday. The automakers are asking for as much as $38 billion dollars in loans to keep the industry alive. What are their chances of getting it?» E-Mail This     » Add to Del.icio.us... [Tags: automakers, bailout, billion dollars, chrysler, congress]

GM's Rick Wagoner Arrives At Capitol [Carpocalypse Now] — GM CEO Rick Wagoner just showed up to Capitol Hill driving the Chevy Volt mule. According to Wagoner, there's one overwhelming reason why America needs to save their automakers: "It's very important for the U.S. to have a home team in the global auto industry..."... [Tags: automakers, capitol hill, carpocalypse, ceo, chevy volt]

Analysts' Upgrades, Downgrades: GM — See who made what calls.... [Tags: gm, upgrades downgrades]

More Job Cuts Announced, Automakers Plead Case for Bailout — News that AT&T will cut 12,000 jobs--or 4% of its workforce--due to "economic pressures, a changing business mix and a more streamlined organizational structure," and DuPont will cut 2,500 employees is sending stock futures down, along with lower earnings forecasts from Merck, Nokia, and Credit Suisse. GM, Ford and Chrysler are headed back to D.C. to ask for a $34 billion bailout. And the Labor Department revealed that jobless claims fell "unexpectedly" by 21,000 (as in the actual jobless claims were 21,000 less than expected) last week, but that still means there were 509,000 jobless claims: "The four-week moving average... [Tags: automakers, bailout, business mix, credit suisse, dupont]

The Last GM Makeover Attempt Didn't Go So Well — General Motors has promised Congress that it can recreate itself as a different kind of car company -- smaller, with a more cooperative relationship with its union, and a lineup of fuel-efficient cars to compete with the best of the foreign brands. At least G.M. knows how difficult the challenge will be. A quarter-century ago, G.M. started Project Saturn with the same goals. And it worked, for a time. Saturn owners, including many who traded in their Hondas and Toyotas to own the first models in 1990, became cheerleaders for the division's customer-friendly approach, while the United Automobile Workers union... [Tags: automobile workers, car company, cheerleaders, congress, cooperative relationship]

GM, Chrysler Mull Pre-Arranged Bankruptcy: Report — General Motors and Chrysler executives are considering accepting a pre-arranged bankruptcy as the last-resort price of getting a multibillion-dollar government bailout, a report says.... [Tags: bailout, bankruptcy, chrysler, dollar government, general motors]

GM CEO hits the road for bailout — Road trip brings contrast to previous visit to beg for aid via private jet.... [Tags: bailout, ceo, gm, private jet, road trip]

Ian Welsh: Why Nationalizing GM and Citigroup Makes Sense — The government needs to stop giving money without getting either control or a reasonable chance of repayment of the money. If it doesn't do so, it won't be able to fix the economy. When Citigroup got its bailout, the market capitalization of Citi was about 20 billion dollars. The government basically guaranteed about 250 billion dollars of bad Citi debt, in exchange it received 7 billion of preferred shares without voting rights, paying 8% dividends (less than the 10% Buffet got). Warrants were also given, at a price about 4 times what Citi was trading at at the tme. So,... [Tags: bailout, billion dollars, citigroup, current management, debts]

IAC Poaches About.com SVP To Run Vimeo (IACI) — Connected Ventures video-sharing site Vimeo has a new babysitter-in-a-suit from parent-company IAC: former About.com SVP of product management Dae Mellencamp. Current Vimeo GM Tim Allen will return to the IAC mothership. During Allen's tenure -- which followed Connected Ventures cofounder Jakob Lodwick's departure -- Vimeo's traffic doubled and then doubled again. Vimeo revenues remain tiny, but a source tells us new Vimeo Plus accounts earned more than $100,000 in the first few weeks. That's not much, but apparently it's enough to convince IAC big boss Barry Diller the site still has potential. See Also: Vimeo: Hey, People Are Watching Our... [Tags: babysitter, barry diller, big boss, dae, gm]

GM Gets With the Program — In an effort to win government aid, GM has come up with a dramatic cost-cutting plan.... [Tags: gm, government aid]

The Future Of GM — This week, executives of The Big Three automakers are back in Congress to request a bailout for their ailing industry. Larry Burns, General Motor's Vice President of Research and Development, discusses GM's proposal and the future of that automaker.» E-Mail This     » Add to Del.icio.us... [Tags: automaker, bailout, big three automakers, congress, e mail]