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The U.S. auto industry may be caught in an "airline-style" cycle of repetitive bankruptcies because of weak sales and a glut of production capacity, Fitch Ratings said today. 4:01 pm U.S. ET | Nov. 23
Months since Chrysler Group and General Motors Co. 12:01 am U.S. ET | Nov. 23
McCain: Chrysler won't make it
Arizona Sen. John McCain was never a big fan of bailing out Chrysler and General Motors. And the losing 2008 Republican presidential candidate believes the government bailout ultimately will prove a failure, at least in the case of Chrysler. 12:01 am U.S. ET | Nov. 23
White House wants fast-track IPO for GM
The Obama administration wants a fast-track initial public offering of General Motors Co. shares to reduce its majority stake in the automaker, a senior official said. 11:00 am U.S. ET | Nov. 18
U.S. encouraged by Fiat plan for Chrysler
The U.S. government is encouraged by the turnaround plan for Chrysler presented by Fiat S.p.A. but will not push for a quick offering of the automaker's shares, a senior official said. 2:00 pm U.S. ET | Nov. 18
GM, Chrysler not required to make electric cars
The Obama administration's preference for robust electric car production will not influence its oversight of taxpayer equity in General Motors Co. and Chrysler, an administration official said. 2:30 pm U.S. ET | Nov. 18
GM debt payment plan to be revisited in June
A just-announced plan for General Motors Co. to repay roughly $8 billion in debt to the United States and Canada would be re-evaluated in June, the Obama administration's top automotive official said. 11:46 am U.S. ET | Nov. 18
Obama says he won't 'meddle in GM's decisions'
U.S. President Barack Obama said today his administration did not want to meddle in the decisions of General Motors and said he was pleased GM may repay government loans sooner than expected. 11:16 am U.S. ET | Nov. 18
De Molina resigns as GMAC chief, is replaced by Carpenter
Alvaro de Molina resigned today as CEO of GMAC Financial Services after less than two years on the job, as the GMAC board asked the U.S. Treasury Department to delay a third round of financial assistance for the lender. 4:35 pm U.S. ET | Nov. 16
GM's Henderson sees signs of progress, reason to be cautious
GM CEO Fritz Henderson stuck to a theme in announcing a third-quarter loss after exiting bankruptcy and in outlining plans to repay U.S. loans early: Things are looking better, but we've got a long way to go. 5:34 am U.S. ET | Nov. 16 | UPDATED: 11/16/09 4:30 p.m. ET
GM to release first earnings report since bankruptcy
General Motors Co. next week will release its first earnings statement since it emerged on July 10 from 39 days in federal bankruptcy protection. The announcement on third-quarter earnings will be made Monday, Nov. 16, at 7 a.m. 4:42 pm U.S. ET | Nov. 11
GMAC needs another cash infusion, Fed says
GMAC Financial Services, which has received $12.5 billion in federal aid, is negotiating for a fresh infusion of taxpayer funds because it has not raised enough capital to survive a deepening recession, the Federal Reserve said. 10:00 am U.S. ET | Nov. 10
U.S. government switches role to shareholder
Automakers can expect the U.S. government to be attentive to its multibillion-dollar stake in their businesses next year and selective in its efforts to reshape the industry. 12:01 am U.S. ET | Nov. 9
U.S. Treasury needs more deliberation on GMAC
The U.S. Treasury intends to provide more taxpayer capital to finance company GMAC, but needs to deliberate further on the deal's structure, a senior U.S. Treasury official said on Thursday. 12:01 am U.S. ET | Nov. 6
GM likely to outperform viability plan estimates
General Motors Co. is outperforming the targets set in its earnings viability plan outlined in April, CEO Fritz Henderson said today. 12:17 pm U.S. ET | Nov. 5 | UPDATED: 11/5/09 3:04 p.m. ET
GMAC narrows losses in Q3; auto operations profitable
GMAC Financial Services reduced its third-quarter net loss to $767 million from $2.5 billion for the same period last year and from $3.9 billion in the previous quarter this year. 9:01 am U.S. ET | Nov. 4 | UPDATED: 11/4/09 11:29 a.m. ET
GM, citing improved financial health, decides to keep Opel
General Motors Co. has decided to keep Opel, undoing months of painstaking negotiations to sell the European unit to a Russian-backed group led by Canada's Magna International Inc. 5:21 pm U.S. ET | Nov. 3 | UPDATED: 11/03/09 8:50 p.m. ET
GM reports $13.6 billion cash in escrow account
General Motors Co. had $13.6 billion remaining in its U.S. government-funded escrow account as of October, after making payments related to the restructuring of its former parts subsidiary Delphi, the automaker said on Monday. 12:01 am U.S. ET | Nov. 3
Dura eyes suppliers, sees consolidation
Dura Automotive Systems Inc. is looking at acquiring the assets of an Asian and a European auto parts supplier and will consider more opportunities as supplier valuations become cheaper, its CEO told Reuters today. 12:00 pm U.S. ET | Nov. 3
Jerry York cautious on Chrysler prospects
A former top executive at Chrysler said on Monday that the No. 3 U.S. automaker, which emerged from bankruptcy in June by selling most of its assets to Italy's Fiat S.p.A., has less than a 50 percent chance of long-term survival. 9:00 am U.S. ET | Nov. 3
GAO questions if Treasury can monitor GM, Chrysler
The Obama administration's ability to decide when and how to sell its stakes in General Motors Co. and Chrysler Group is undercut by the rapidly declining staff of the auto task force and its accompanying loss of expertise, Congress' watchdog says. 4:13 pm U.S. ET | Nov. 2
Analyst says dealer cuts ‘didn't make any sense'
General Motors Co.'s and Chrysler Group's dealer cuts will erode the companies' market share in small- and mid-sized markets, auto industry researcher David Cole said last week. 12:01 am U.S. ET | Nov. 2
GMAC may need less of an infusion, Geithner says
GMAC Financial Services may not need as much funding as U.S. officials had projected in its layer of taxpayer-backed funding, U.S. Treasury Secretary Timothy Geithner said today. 12:31 pm U.S. ET | Oct. 29
GM CEO says amount of government aid sufficient
General Motors Co. has no plans to request more government aid, CEO Fritz Henderson told the Washington Post on Wednesday. 2:00 pm U.S. ET | Oct. 28
GMAC negotiating for more Treasury help
GMAC Financial Services Inc. is talking with the U.S. Treasury Department about a possible additional cash infusion to the company, an Obama administration official confirmed on Tuesday night. 12:01 am U.S. ET | Oct. 28 | UPDATED: 10/28/09 11:04 a.m. ET
Henderson to take 25% salary cut as part of Treasury action
General Motors Co. CEO Fritz Henderson's annual salary is being cut by 25 percent to $950,000 as part of the Obama administration's pay reductions for the top 175 executives at seven companies that got federal bailouts. 5:05 pm U.S. ET | Oct. 22 | UPDATED: 10/22/09 5:28 p.m. ET
Months since Chrysler Group and General Motors Co. emerged from bankruptcy protection with a government ownership stake in the companies in exchange for the billions of dollars they received in federal loans, Democrats and Republicans are still bickering over the auto bailout. All last week Rep. 12:01 am U.S. ET | Nov. 23
The U.S. auto industry may be caught in an "airline-style" cycle of repetitive bankruptcies because of weak sales and a glut of production capacity, Fitch Ratings said today. 4:01 pm U.S. ET | Nov. 23
McCain: Chrysler won't make it
Arizona Sen. John McCain was never a big fan of bailing out Chrysler and General Motors. And the losing 2008 Republican presidential candidate believes the government bailout ultimately will prove a failure, at least in the case of Chrysler. "It was all about the unions," McCain said. 12:01 am U.S. ET | Nov. 23
White House wants fast-track IPO for GM
The Obama administration wants a fast-track initial public offering of General Motors Co. shares to reduce its majority stake in the automaker, a senior official said. 11:00 am U.S. ET | Nov. 18
U.S. encouraged by Fiat plan for Chrysler
The U.S. government is encouraged by the turnaround plan for Chrysler presented by Fiat S.p.A. but will not push for a quick offering of the automaker's shares, a senior official said. 2:00 pm U.S. ET | Nov. 18
