GM

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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GM officially down to 4 brands

In an announcement that surprised no one today, GM officially announced the end of Pontiac as a brand, by the end of 2010.  So that’s Pontiac, Hummer, Saab, and Saturn that are toast – GM is now down to 4 brands that will carry on. Chevrolet, Cadillac, GMC, and Buick are the so-called “Big 4” [...]

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GM’s LaNeve lives in fairytale land

According to Mark LaNeve, GM’s vice president of sales, service, and marketing, both GMC and Buick are “very profitable brands.”  Yes, he actually said that – and apparently he wasn’t joking.  LaNeve basically comes right out and says that these two largely ( in GMC’s case, completely ) badge-engineered brands are not on the chopping [...]

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Twitter plus Onstar equals… TwitStar?

This from the rumormill over at Tech Crunch, Onstar may soon be adding a feature allowing you to speak your tweets right from your GM automobile.  That’s right – you talk, and Onstar converts your speech to text, and sends it to Twitter.  Tweeting while driving, ladies and gentlemen – and handsfree too. Speech to [...]

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GM CEO Wagoner resigns on Obama’s Request

That’s right – President Obama asked the CEO of General Motors, Rick Wagoner, to resign.  And Wagoner did.  Immediately.  Stepping in to fill the roll of CEO is current COO Fritz Henderson.  Wagoner has been CEO of GM since 2000, and has presided over the worst years in GM’s history.  During Wagoner’s reign, GM stock [...]

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Saab separates from GM, files for bankruptcy

Today Saab made an announcement – they have separated themselves from GM, and are filing for bankruptcy in Sweden.  That’s about the best news I’ve heard concerning GM in awhile – Saab has always been a huge money pit, and they haven’t gotten any better in recent years.  Losing Saab can only benefit GM, as [...]

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Opel Ampera Spy Shots

Meet the Chevy Volt’s sexy cousin –the Opel Ampera.  The Volt is a pretty slick looking car, but the Ampera really stands out.  The front end, especially, is daring and very distinct.  Hardware-wise, the Ampera will likely be exactly the same as the Volt – perhaps a few small modifications for our European brethren.  The [...]

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GM produces a viability plan

As required by Congress, GM submitted their Viability plan today.  Boy, oh, boy, is it a doozy.  I don’t know where to begin.  Here are a couple highlights: An additional $16.6 billion line of credit ( bringing their total to a cool $30 million ) A decision on HUMMER by March 31 End of life [...]

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