Scoopful of GM News – April 27, 2009: European War; Slash and burn; All Things Pontiac; Successful future; Toyota Jitters on Suppliers; Fed Control; Bond Plan
Clash of the Titans: Fiat reportedly squaring off with European Union over mergers…interest in GM‘s European subsidiary Opel, Marchionne is now asserting that would consider the possibility, but that no offer had been made to date.[Source: The Detroit News | Image: Andrej Isakovic/AFP/Getty]Clash of the Titans: Fiat reportedly squaring off with European Union over mergers originally appeared on Autoblog on Mon, 27 Apr 2009 14:…
More cuts across the board: General Motors to slash dealers, plants and employees…GM, Earnings/FinancialsGeneral Motors’ spate of announcements this morning was bad news for enthusiasts (e.g. the shuttering of Pontiac) and even worse for GM‘s debt-for-equity swap (without a 90% take-rate the automaker is bound for CH 11). But for dealerships and workers, GM‘s re-revised restructuring plan is going to hurt… hard.In addition ..
…but today GM CEO Fritz Henderson made it official. Now that the pointy-arrow brand is gone, we’ll mourn by celebrating our ten favorite examples of driving excitement. 10) 1988 Pontiac Fiero GT A Pontiac which never got much love till the end of its life was the Fiero. Burdened by the sluggish 2.5-liter “Iron Duke” four-cylinder and suspension b…
…GMIn addition to announcing the shuttering of Pontiac, General Motors has put forth a new offer to its bondholders to exchange $27 billion in claims for equity in the struggling automaker.As part of the plan, GM is offering its bondholders a 10% equity stake in the company, but worryingly, if 90 percent of GM‘s stockholders don’t make good on th…
Pontiac Vibe, Solstice Are Dead, Won’t Live On As Chevys [Carpocalypse]…GM CEO Fritz Henderson just told journalists the Pontiac Vibe and Solstice will not live on at other brands. Also, he’s gonna have to talk with Toyota about what they’re gonna do with NUMMI. What, exactly, GM will do with NUMMI, their cooperative manufacturing effort with Toyota, remains unclear, but Fritz definitely claims they’ll have to talk …
…GM, Pontiac, Earnings/Financials Rumors from late last week have come home to roost, and as part of its restructuring efforts, General Motors has just announced that Pontiac will be “phased out by the end of 2010.” GM will continue to build its accelerated viability plan around four brands: Chevrolet, Cadillac, Buick, and GMC.As part of its late…
…GM officially announces the death of the storied 83-year-old Pontiac brand along with more assembly plant closures this morning. Goodbye, screamin’ chicken, GTO, building excitement and the “great ones.” We were the first to report it back in February, but now it’s officially official when General Motors will announce a restructuring plan at…
…GM, Pontiac 2009 Pontiac G8 GXP: Click above to view the gallery The G8 may be the best Pontiac in decades, but the stellar RWD sedan doesn’t stand a chance if the arrow head is forever retired. The loss of the G8 is difficult for enthusiasts, but it’ll be even tougher for Holden. GM‘s Australian arm will lose $1 billion ($716 million US) in rev…
…began using GM chassis instead. But apparently they were used to Lincoln styling cues… Oh, and a couple weeks ago I thought it had been sold! Was moved to a different part of the lot earlier in the day; on my way home in traffic, I saw it at the McDonald’s drive-thru! Yeah, I know if I bought an uber-pimpmobile the first place I’d take it woul…
…GM, Toyota, Earnings/FinancialsFearing that a couple dozen of its U.S. suppliers could shut down production, Toyota has established a “war room” to monitor suppliers and has begun to warehouse assembly components. While the move marks a departure from the automaker’s “just in time” production philosophy, a mantra that associates stockpiling with…
U.S. Would Hold Majority in GM Plan
General Motors outlined a revamped survival plan Monday that would leave the U.S. government as its majority owner in return for an extra $11.6 billion in federal aid.
General Motors on Monday launched an eagerly anticipated exchange offer for $27 billion of its unsecured bonds, but it requires 90% of bondholders to approve it to be effective.
…GM, Earnings/FinancialsThe “television upfront” is the term used when networks sell advertising time for the coming season’s shows. An advertiser will commit to buying a particular amount of commercial time and then pay much closer to the show’s airing in the fall. With everyone still unsure of whether GM and Chrysler will end up in bankruptcy, …
