GM

Statement On The Plant Selection To Produce The New Small Car For GM

2009-06-10 -- On May 29, GM announced that we will build a future small, fuel-efficient car in the United States utilizing an existing UAW-GM assembly plant that is currently on standby capacity status.

The assembly plants in consideration are Orion (Michigan), Spring Hill (Tennessee) and Janesville (Wisconsin).

Given the importance of this small car program, and in an effort to move quickly to identify the plant, GM leadership has begun discussions regarding selection criteria with Federal and State government officials from Michigan, Tennessee and Wisconsin.

We hope to identify and announce the future production site of the small car within the next several weeks.

Source: GM

Sen. Hutchison: “Today is a sad day for 50 Texas small businesses and the communities they’ve served.”

June 9, 2009 -- WASHINGTON, DC - Today, U.S. Senator Kay Bailey Hutchison (R-TX), Texas senior Senator and Ranking Member of the Senate Commerce Committee, released the following statement regarding the closure of 50 automotive dealerships in Texas:    » read more »

June 9, 2009 -- WASHINGTON, DC - Today, U.S. Senator Kay Bailey Hutchison (R-TX), Texas senior Senator and Ranking Member of the Senate Commerce Committee, released the following statement regarding General Motors' decision to select Ed Whitacre, Jr. as the company’s new chairman once it completes its bankruptcy reorganization:

“Ed Whitacre is a distinguished business leader.

"His successful career running a FORTUNE 50 company will give him the range of experience necessary to stabilize and strengthen General Motors.”

Source: Senator Kay Bailey Hutchison (

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 »

June 5, 2009 -- WASHINGTON - U.S. Senator Bob Corker, R-Tenn., today welcomed news that General Motors has reached a proposed agreement to sell its Saturn brand to Penske Automotive Group. According to GM, approval of the deal could save 350 dealerships and 13,000 jobs at Saturn and its retailers nationwide.    » 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 »