GM

GM Recalls 1.5 Million Vehicles – Fire Risk

One of the biggest recalls in US history. A total of one and a half million GM cars and trucks are being recalled for a potential fire risk. The heated windshield wiper system could potentially short out, causing a fire. The model years affected are 2006 through 2009, and these models are among the bunch: [...]

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Saab finally bought by Spyker

When it counts, GM is extremely indecisive.  They can’t figure out how much the Volt is going to cost, what the point of GMC is, or whether they are selling Saab or not.  Except that they finally figured out that last one.  Probably.  Officially.  I think. In what sounds like an official report, but who [...]

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GM Is Still Schizophrenic

Remember how our good buddy Ed Whitacre said that the 2011 Volt would be available in the low $30k range, and be profitable?  This, after months of back and forth on pricing and profitability. Well, it turns out Eddie was fudging a little bit.  GM clarified this most recent statement with the fact that the [...]

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Fritzy gets the boot

Whoops, I mean, he “resigned.” Fritz Henderson, that is, former CEO of General Motors. Yesterday ol’ Fritzy tendered his resignation, which GM’s board promptly accepted. Which makes sense, since they fired him, of course. A guy doesn’t work for GM for 25 years, rise to the position of CEO, and then just quit after less [...]

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GM loses $1.2 Billion in Q3 2009

Another quarter gone by, another billion down the drain. Actually, GM lost $1.2 billion in the third quarter, to be exact. It’s a good thing the US government bailed them out, or they’d be losing mon…. wait a minute, nevermind. On a good note, GM’s cash reserves are reportedly up $3.3 billion over last quarter. [...]

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GM Bankruptcy and the Changing US Automotive Industry

Yesterday General Motors officially entered Chapter 11 Bankruptcy protection – which came as no surprise to anyone.  After having a day or so to digest the facts, I’m very saddened by what the US automotive industry has come to.  When Government Motors ( the new name? ) emerges from bankruptcy, the United States government will [...]

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Black Thursday and Friday

The past two days have been dark ones for the domestic auto industry.  On Thursday, Chrysler, LLC made a powerful announcement – they would not be renewing franchise agreements for 789 Chrysler, Dodge, and Jeep dealerships.  The list was made publicly available, and can be viewed here.  To follow up that bad news, GM announced [...]

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GM loses six billion dollars, burns 10 billion

Though losing money is nothing new to GM, the magnitude of this loss and and rate of burn are stunning.  GM is down to $11.6 billion in cash, and that is only because the U.S. gov’t is giving away money to every one. GM’s Q1 results are spectacularly bad – there’s no denying that.  And [...]

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