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Tag Archives: GM

General Motors Inches Closer To Bankruptcy

28-May-09

General Motors Corp. inched closer towards what seems like an inevitable bankruptcy filing yesterday, when it failed to persuade enough of its bondholders to swap US$27B worth of debt for equity. The struggling automaker has until June 1 to reduce its debt by US$44B if it is going to be eligible for additional government bailout [...]

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General Motors Stock Plummets Over 21%

13-May-09

It is no surprise that investors of General Motors Corp. are worried. However, shareholders were frantic yesterday as they got hold of news that six executives (including former Vice Chairman and Product Chief – Bob Lutz) at the company had sold almost US$ 315K in stock, as well as liquidated their outstanding direct holdings in [...]

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GM Posts $6B Loss

08-May-09

As sales plummet and a June 1 deadline looms (at which time the Company must prove to the US Government that it can turn its business around and become profitable), General Motors Corp. posted a loss of US$6B. During the first quarter of 2009, GM burned through US$10.2B and failed to get its out-of-control costs [...]

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