General Motors

June 8, 2009 -- WASHINGTON, D.C. – Assistant Senate Majority Leader Dick Durbin (D-IL) today called on the CEO of General Motors, Fritz Henderson, to bring more openness and transparency into the company’s restructuring process while in Chapter 11 bankruptcy. As dealerships throughout Illinois are notified that GM does not intend to renew their contract, many owners are left frustrated and confused.

“A vibrant automotive sector is crucial to the future of our manufacturing base in Illinois and throughout the country, and I support the Obama Administration’s efforts to help GM restructure,” said Durbin. “But I believe that such a restructuring should be executed fairly and openly and should result in a dealer network that is able to reach potential car buyers.”    » read more »

2009-06-09 -- Edward E. Whitacre, Jr., former chairman and CEO of AT&T Inc., will become chairman of the New GM when the company is launched later this summer, GM's interim Chairman Kent Kresa announced today. Kresa will continue to serve as interim chairman until the launch.

Whitacre and Kresa, along with current board members Philip A. Laskawy, Kathryn V. Marinello, Erroll B. Davis, Jr., E. Neville Isdell and President and Chief Executive Officer Frederick A. Henderson, will serve as the nucleus of the New GM board, providing management oversight and a continuing commitment to transparency and world-class standards of corporate governance.    » read more »

Statement of Mark LaNeve, GM North America Vice President, Vehicles Sales, Service & Marketing regarding GM's ongoing discussions with NADA on Dealer Participation and Wind-Down Agreements

2009-06-08 -- "The consolidation of GM's dealer network nationwide is a very difficult, but necessary part of GM's overall reinvention efforts. During testimony last week before the Senate Commerce Committee on this topic, the National Automobile Dealers Association (NADA) expressed concern over some specifics in GM's Participation Agreements for our dealers.    » read more »

Will accelerate the domestic development of advanced battery technology and lead GM's network of existing battery labs in Honeoye Falls, N.Y.; Warren, Mich.; and Mainz-Kastel, Germany

2009-06-08 -- WARREN, Mich. - General Motors expanded its significant battery research and development capabilities today by opening the largest and most technologically advanced battery lab in the United States on its Technical Center campus here.

The new Global Battery Systems Lab will lead GM's global advanced battery engineering resources and expedite the introduction of electrically driven vehicles, including the Chevrolet Volt, as well as plug-in hybrid and hybrid-electric vehicles and fuel cell vehicles.    » read more »

In radio address, governor says Michigan ready to lead national transformation to green economy

June 5, 2009 -- LANSING - In her weekly radio address, Michigan Governor Jennifer M. Granholm today said it's been a tough week for Michigan with General Motors filing for bankruptcy and seven GM plants to be closed or idled in the state.

"An era is ending," Granholm said. "While many people will continue working in GM plants building the next generation of vehicles, others will be leaving. And for them, we will help however we can, from extended unemployment benefits to job retraining."

Granholm emphasized that in bankruptcy, both General Motors and Chrysler are being restructured - not liquidated.    » read more »

Gentex Corporation Named Corporation of the Year

2009-06-05 -- WARREN, MICHIGAN - General Motors recognized 99 suppliers today with its highly coveted Supplier of the Year award during the 17th annual awards presentation held at the GM Heritage Center in Warren, Michigan. The awards presentation followed a morning business meeting, in which attending suppliers heard from GM senior leaders on a variety of key business issues.

Gentex Corporation was presented with the Corporation of the Year award.    » read more »

Transaction would save more than 13,000 jobs; preserves renowned brand and retail network

2009-06-05 -- Detroit -- General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. If completed, the deal would save more than 350 dealerships and 13,000 jobs at Saturn and its retailers in the United States, and would preserve the customer-focused Saturn brand.    » read more »

At hearing requested by Dorgan, questions raised about how dealers and consumers will be impacted

June 3, 2009 -- (WASHINGTON, D.C.) – At a Senate Commerce Committee hearing today, U.S. Senator Byron Dorgan (D-N.D.) questioned the President and CEO of both Chrysler and General Motors about the effects of their dealership closings in North Dakota and their plans to ensure dealerships and consumers are treated fairly.

James Press, President of Chrysler, and Fritz Henderson, CEO of General Motors, both testified at the hearing, along with John McEleney, Chairman of the National Automobile Dealers Association.    » read more »

June 3, 2009 -- Washington, D.C. -- In response to recent news reports of General Motors following Chrysler into bankruptcy, Senator Olympia J. Snowe (R-Maine) today called on the heads of the American automobile companies to ease the transition for the nearly 2,000 small dealerships across the country who face imminent closure.

In a Senate Commerce Committee hearing examining the domestic auto dealership closures today, Senator Snowe highlighted the burden on the national network of dealerships to quickly liquidate inventory in order to receive assistance and called on the automakers to provide more clarity to the closure process.    » read more »

Senator questions Chrysler, GM execs on bankruptcy settlement, including rumored bonuses and insurance at hearing today

June 3, 2009 -- WASHINGTON, D.C. – As endless questions remain in the wake of dealership closures by Chrysler and General Motors (GM), today U.S. Senator Claire McCaskill urged Chrysler and GM executives to be more accountable to local dealers and consumers in a hearing held by the Senate Committee on Commerce, Science and Transportation.

Recently, dealerships across the country, including a number in Missouri, that sell Chrysler and GM vehicles learned their contracts will soon be terminated as part of bankruptcy settlements.    » read more »

June 3, 2009 -- Washington, DC -- Senator Mike Johanns introduced an amendment today to require Congressional approval for any use of TARP funds that result in the government acquiring any ownership stake in private entities through common or preferred equity stock shares.

"I am extremely troubled that federal funds originally proposed to buy toxic assets in an effort to stabilize the financial markets are now being used as a blank check in ways no one ever dreamed," said Johanns. "Congress has a responsibility and an obligation to the American people to provide appropriate oversight of these funds especially when the result is essentially nationalizing companies. My amendment will restore a system of checks and balances the American people demand of their government."

Background:    » read more »

June 3, 2009 -- Washington D.C. – U.S. Senator Kirsten Gillibrand sent a letter to Fritz Henderson, Chairman of General Motors, late yesterday on behalf of Tonawanda employees, who are expected to lose their jobs due to the company’s decision to shift more engine production to Mexico.

On Monday, GM announced that they will be eliminating 271 jobs at the Tonawanda Engine Plant in Western New York, a large portion of which will be moving to Mexico. Senator Gillibrand’s letter urged GM to apply for trade adjustment assistance (TAA) benefits for their former employees.    » read more »

June 2, 2009 -- BISMARCK, N.D. -- North Dakota Governor John Hoeven has called on President Barack Obama to stop the forced closing of General Motors dealerships in rural areas. The company has announced it will close 1,100 dealerships nationwide. Although it has not so far released a list of closings, some North Dakota dealerships have received notification of GM’s intention to close their operations. The U.S. government now holds a 60 percent equity share in the business.    » read more »

06/02/2009 -- ROMULUS, Mich. — While in Romulus today touring the General Motors Romulus Engine Plant, Secretary of Labor Hilda L. Solis announced that the U.S. Department of Labor is releasing an additional $49.9 million to the state of Michigan to provide career training and employment and case management services to workers whose jobs are impacted for trade-related reasons, as well as for associated administrative costs. Combined with the original fiscal year 2009 allocations, Michigan now has nearly $60 million available to assist trade-affected workers.    » read more »

06/02/2009 -- WASHINGTON -- United States Senator Mary L. Landrieu, D-La., today welcomed General Motors' announcement that its tentative sale of HUMMER will continue the assembly of the H3 and H3T at the Shreveport plant through at least 2010. As part of the proposed transaction, HUMMER will continue to contract vehicle manufacturing and business services with GM.    » read more »