General Motors Corp and the United Auto Workers have reached an agreement on contract changes and restructuring $20 billion in debt owed to a trust fund for retiree healthcare, the union said on Thursday.
General Motors Corp and the United Auto Workers have reached an agreement on contract changes and restructuring $20 billion in debt owed to a trust fund for retiree healthcare, the union said on Thursday.
Fiat SpA's chief executive sees his company in pole position to win in the race for Opel but a German magazine said parent company General Motors favored other bidders over the Italian carmaker.
Fiat SpA is convinced it has more than a 50 percent chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the car maker, an Italian newspaper said.
The pursuit of German carmaker Opel has narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.
The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.
The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
Cash-strapped General Motors said it expects at least three offers for German unit Opel by Wednesday's deadline, with Italy's Fiat eyeing plans to form Europe's biggest automaker.
If General Motors Corp files for bankruptcy, as widely expected, its healthy assets will be quickly sold to a new company owned by the U.S. government, a source familiar with the situation said on Tuesday.
After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry.
General Motors Corp faces a government-imposed June 1 deadline to reach sweeping cost-cutting deals with bondholders and its union and has said it is probable it will follow rival Chrysler into bankruptcy.
The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp to intensify this coming week ahead of an end-of-May deadline set by the Obama administration.
The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp to intensify this coming week ahead of an end-of-May deadline set by the Obama administration.
Germany could send a negotiation team to the United States at the end of the week to discuss solutions for General Motors unit Opel, Economy Minister Karl-Theodor zu Guttenberg said on Monday.
General Motors Corp said it would drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.
General Motors has quietly roped off a bit of virtual real estate with an address similar to one used by Chrysler, that could serve as an information clearinghouse if GM seeks bankruptcy protection.
General Motors Corp said Friday it will drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.
General Motors Corp said Friday it will drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.
General Motors Corp plans to drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.
General Motors Corp is expected to slash up to 1,200 dealers as it struggles to dramatically pare down its operations and eliminate billions of dollars of costs ahead of an anticipated bankruptcy filing by the end of this month.
General Motors Corp plans to eliminate up to 1,200 U.S. dealerships, which are expected to begin receiving notices from the embattled automaker as soon as Friday, a person familiar with the plan said.
