GM

  • The 2013 model.

    News

    GM Is Buying Some Stock

    One thing to savor about Treasury’s plan to get out of GM is how many corporate-governance hot buttons it gently caresses. “GM will purchase 200 million shares of GM common stock from Treasury at $27.50 per share” translates into news reports as “Treasury is losing a bazillion dollars,” since after all Treasury paid rather more […]

    / Dec 20, 2012 at 11:01 AM
  • There was some temptation to use the Onion's Joe Biden with Camaro picture, which would be pretty on the nose, but we're not that sort of operation.

    News

    Let’s Help Treasury Get Out Of GM

    I’m pretty sure that there’s one or two or thirty investment bankers currently handholding at the U.S. Treasury and General Motors in their debate over when and at what price Treasury should get rid of its remaining GM shares. I’m also pretty sure that those bankers are fed up with their principals’ childishness. Thus, I […]

    / Sep 17, 2012 at 10:49 AM
  • News

    Prince Alwaleed Loves Companies Touched By The US Government

    Kingdom Holding Co. said the investment firm and its chairman, Saudi Arabian billionaire Prince Alwaleed Bin Talal, invested $500 million in General Motors Co.’s recent initial public offering. The transaction represents 1% of the value of GM’s subscriptions, Kingdom Holding said Tuesday in a statement emailed to Zawya Dow Jones. The firm cited “the global […]

    / Nov 23, 2010 at 12:04 PM
  • News

    Call The (GM) Close

    Closest without going over, guesses in by 3PM EST. Winner gets your choice of dinner with Dan Akerson or a visit from The Sandwich Fairy (TSF) at lunch tomorrow.

    / Nov 18, 2010 at 9:30 AM
  • News

    Steve Rattner: GM’s Problem Is That It Doesn’t Mind Its Own Biznass

    Why does General Motors take it up the tailpipe? You could probably come up with at least handful of reasons, but at a breakfast hosted by Fortune this morning, Steve Rattner wanted to highlight one in particular. Over bagels and lox, the retired Car Czar, who last month was finally able to get it off […]

    / Nov 18, 2009 at 12:51 PM
  • News

    GM And eBay

    As Dealbreaker readers will already been keenly aware, American automotive firms have been beset by difficult market conditions including too many customers, too few customers, high material prices, low material prices, insufficient resale value, excessive resale value. You will be happy to know that the management team has been working overtime and come up with […]

    / Aug 10, 2009 at 5:54 PM
  • News

    General Motors Finds A Way To Teach Former Workers A Lesson

    In addition to spending$950 million to wind down the old GM, the new GM may have unintentionally found a way to send a tough message to the UAW workers looking to milk the system and retire in their 40s. In 2007, the UAW and GM struck a deal which allowed GM to cut its work […]

    / Jul 1, 2009 at 10:10 AM
  • News

    Trustee In GM Bankruptcy Clamps Down On Fee Bonanza

    Among the bills that GM may need to pay with their additional $30 billion infusion are massive fees due to two of the only big winners in the GM debacle, Evercore Partners and turnaround consultants AlixPartners. For their impressive work overseeing the automaker’s complete collapse, Evercore and AlixPartners are seeking fees totalling a cool $130 […]

    / Jun 23, 2009 at 3:15 PM
  • News

    In The Event You Just Can’t Get Enough Of Government Motors

    Just a reminder that GM will hold an analyst and media call this morning at 9:30 Eastern time. Details below: Note that charts for the call will be posted on the investor site. (They are a little tricky to find — please follow the directions carefully.) We hope you will join us. Tom Wilkinson Director, […]

    / Jun 2, 2009 at 9:08 AM
  • News

    GM Sells Hummer….Over Candlelit Dinner?

    Reuters reports that General Motors will sell Hummer, though a buyer has not been named, nor has a number been quoted for how much it’ll pay. And then there’s this, from the mailbag: I saw David Rubenstein and Rahm Emanuel (with one other unidentified guy) eating dinner at Blue Duck Tavern in DC last night. […]

    / Jun 2, 2009 at 8:58 AM
  • News

    Michael Moore Bursting With “Joy” At GM “Deathbed”

    After performing a victory dance through the streets of downtown Detroit, which onlookers tell us was quite the sight to see, Mikey sat down to write a list of suggestions he’s got for what to do with the place. Do we sense someone angling for a ride in Fritz Henderson’s sidecar? So here we are […]

    / Jun 1, 2009 at 1:26 PM
  • News

    With Sugar On Top?

    Pleading, urging, begging, whatever. Call it what you will, this one isn’t going to drift by as “easily” as Chrysler. But then, the Chicago machine is just getting warmed up, isn’t it? Either way, we continue to be amused by the (1 – 0.65) reverse spin on the debt holder (dis)approval numbers. Advisers to General […]

    / May 29, 2009 at 3:38 PM
  • News

    We Have The Agreement Of (20% Of) The Unsecured Debtholders!

    In the latest GM clusterfuck drama, the Wall Street Journal flashes the pressing news that a group of unsecured GM noteholders has agreed to the latest 10% debt for equity swap amusement. Outstanding work guys and gals! How many votes have you got in the bag? We have been informed by the advisors to the […]

    / May 28, 2009 at 10:47 AM
  • News

    This Might Actually Be The End

    It’s one thing to say that a firm might be better off in bankruptcy. It is another entirely to prod it down the plank towards the sea. General Motors Corp.’s 60-day deadline to restructure is unlikely to be extended because the U.S. won’t repay $1 billion in convertible notes maturing June 1, according to a […]

    / Apr 1, 2009 at 3:11 PM
  • News

    Breaking: WSJ Reports GM CEO Reports Bankruptcy Could Work, But Risky.

    “GM CEO says bankruptcy ‘could work’ but would be too risky,” is the exact ticker line. “That, Mr. Wagoner, is the sound of inevitability.” The situation is fluid.

    / Mar 17, 2009 at 10:35 AM
  • News

    G^M = B^K?

    As we mentioned in the Opening Bell, GM is staring default and potentially bankruptcy in the face (“we actually need about $30 billion”). A lot of light and noise has been emanating from GM’s general direction for several weeks now, but it looks like this is the main event. Of course, this isn’t a surprise. […]

    / Mar 5, 2009 at 9:58 AM
  • News

    We Totally, Seriously, Honestly Won’t Need Any More. Really.

    So GM is going to grudgingly accept another check for $4 billion. Is anyone else so numbed to large numbers at this point that $4 billion really doesn’t seem like much money? I mean, John Paulson spits $4 billion. Tim “The Safecracker” Geithner exhales larger sums while taking his afternoon nap. (And you believed that […]

    / Feb 17, 2009 at 10:40 AM
  • News

    GM Makes A Final Lap

    Just in case you weren’t sure, General Motors is in trouble. Big trouble. On top of all the other trouble you’ve no doubt heard about they are now planning to cut 10,000 jobs. Yesterday’s rumors are fact this morning as the flagging former giant begins to face the music. General Motors Corp., the largest U.S. […]

    / Feb 10, 2009 at 10:09 AM

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