GM

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 »

Letter conveys concerns of Wisconsin auto dealers

6/2/09 -- WASHINGTON, DC – Today, U.S. Senator Herb Kohl sent the following letter to Chairman John Rockefeller (D-WV), and Ranking Member Kay Bailey Hutchison (R-TX) of the Senate Committee on Commerce, Science and Transportation. Kohl urges tough questioning of James Press, President of Chrysler and Fritz Henderson, CEO of GM who are scheduled to testify at the Commerce Committee hearing tomorrow discussing the GM and Chrysler dealership closures nationwide.

June 2, 2009

Dear Chairman Rockefeller and Ranking Member Hutchison:    » read more »

Industrial Machinery Company To Invest in Growth and Global Expansion of Premium Off-Road Vehicle Brand; Deal is Expected to Secure Over 3,000 US Jobs

DETROIT and SICHUAN, June 2, 2009 - Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong) and General Motors Corp. today confirmed details of their proposed transaction, pursuant to which, Tengzhong, a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior management and operational team.    » read more »

GM Gains Share For The Second Consecutive Month With 191,875 Deliveries in May; Highest Monthly Sales Performance So Far in 2009

June 2, 2009 -- DETROIT - General Motors dealers in the United States delivered 191,875 vehicles in May, down 29.6 percent compared with a year ago. However, when comparing GM's May sales with April, total volume was up 11 percent, or about 19,000 cars, crossovers and trucks resulting in the best monthly sales performance so far in 2009.    » read more »

General Motors Announces Preliminary Agreement To Sell HUMMER; Deal could secure more than 3,000 jobs in the United States; preserves HUMMER as global off-road brand

2009-06-02 -- DETROIT – General Motors Corp. (NYSE: GM), announced it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand. This transaction is the result of GM's strategic review of the HUMMER brand and the company’s ongoing restructuring efforts.

The sale is expected to close by the end of third quarter of this year and is subject to customary closing conditions, including receipt of applicable regulatory approvals.    » read more »

June 1, 2009 -- THE PRESIDENT: Good morning, everybody. Just over two months ago, I spoke with you in this same spot about the challenges facing our auto industry, and I laid out what needed to be done to save two of America's most storied automakers -- General Motors and Chrysler. These companies were facing a crisis decades in the making, and having relied on loans from the previous administration, were asking for more.    » read more »

June 1, 2009 -- On March 30, 2009, President Obama laid out a framework for General Motors to achieve viability that required the Company to rework its business plan, accelerate its operational restructuring and make far greater reductions in its outstanding liabilities.

After two months of significant management engagement, General Motors has developed such a plan and has already begun to make progress toward its achievement. The Company has also secured commitments of meaningful sacrifice from all of its major stakeholder groups , sacrifices sufficient for this plan to proceed forward. As a result, the President has deemed GM’s plan viable and will be making available about $30 billion of additional federal assistance to support GM’s restructuring plan.    » read more »

NEW YORK, June 1, 2009 – NYSE Regulation, Inc. (“NYSE Regulation”) announced today that it determined that the common stock of General Motors Corporation (the “Company”) – ticker symbol GM – as well as the 10 related listed securities below, should be suspended prior to the opening on June 2, 2009.

NYSE Regulation has determined that the Company is no longer suitable for listing. This decision was reached in view of the June 1, 2009 announcement of a voluntary filing by the Company and three domestic subsidiaries for relief under Chapter 11 of the U.S Bankruptcy Code with the United States Bankruptcy Court in the Southern District of New York.    » read more »

June 1, 2009 -- WASHINGTON, D.C. – U.S. Senator George V. Voinovich (R-OH), Co-Chair of the Senate Auto Caucus, today released the following statement on the General Motors bankruptcy:

“My heart goes out to the thousands of hard-working Americans associated with General Motors who are worried about their jobs and providing for their families as well as retirees worried about their retirement benefits.

"I am disappointed to hear that three Ohio facilities have been designated for closing, and I will work with my colleagues in the Senate and with the administration to ensure that auto workers and communities facing job losses receive assistance.    » read more »

June 1, 2009 -- WASHINGTON – U.S. Senator Debbie Stabenow today made the following statement regarding General Motors bankruptcy filing.

“Like families and workers across Michigan, I am disheartened by today’s news. Although bankruptcy proved unavoidable, it is important that all of the work done by management, the UAW, bondholders and the auto task force will make a quick, efficient bankruptcy possible. I am confident that GM will emerge a stronger and viable company.

“If we have learned one thing from the global economic crisis it is that in order for our economy to thrive we must build things in this country. Now is the time for America to recommit to a strong manufacturing strategy that will rebuild our middle class.”

Source: Senator Debbie Stabenow

Urges Action to Protect West Virginia Families and Dealerships

June 1, 2009 -- Washington, D.C. -- Senator John D. (Jay) Rockefeller IV, Chairman of the Senate Commerce, Science and Transportation Committee, has issued the following statement in response to the Chrysler and General Motors (GM) bankruptcies and subsequent restructuring:    » read more »

June 1, 2009 -- WASHINGTON – Senator Carl Levin, D-Mich., said the following today regarding General Motors’ announcement of its bankruptcy filing:

“There is a huge amount of pain associated with today’s announcements by General Motors. There will be plant closings that will cause great hardship to the hard-working Americans who will lose their jobs and to communities in Michigan and across this country.

“Just as we have all done everything we possibly could to help GM survive, we now need to put our shoulders to the wheel for two goals: supporting in every way we can the people whose jobs are lost, in part with a greater emphasis on new energy technologies that can be developed in Michigan, and doing our utmost to help the new GM become a strong and vibrant company.    » read more »