GM

June 1, 2009 --WASHINGTON – U.S. Senator Bob Corker (R-TN) made the following statement today:

“I’ve spent the past 24 hours on the phone with GM officials, the auto task force, Governor Bredesen, and the local mayors and economic development officials.

“I’m obviously very disappointed in the decision by GM officials and the administration to idle our Spring Hill plant but glad it’s idled for a period and not closed and certainly happy for the 600 Tennesseans that will remain employed. I’m saddened by the effect this will have on the many families who derive their incomes directly from the Spring Hill plant as well as the suppliers and vendors who depend on it.    » read more »

June 1, 2009 -- WASHINGTON, D.C. – U.S. Senator Sherrod Brown (D-OH) issued the following statement in response to General Motors’ bankruptcy filing today:

“This is a challenging time for Ohio auto communities and for manufacturers across the state. My thoughts are with GM workers, their families, and the thousands of other Ohio workers whose livelihoods are tied to those of GM.

“A bankruptcy filing by General Motors will test our nation’s resolve in rebuilding our manufacturing base. GM is a crucial part of our nation’s economy. As we work to help GM through bankruptcy, we must also work to rebuild a thriving domestic manufacturing industry.    » read more »

June 1st, 2009 - WASHINGTON - U.S. Senator Lamar Alexander (R-Tenn.) today made the following statement regarding General Motors’ decision to put its Spring Hill plant on standby:

“GM’s decision to put its Spring Hill plant on standby is a blow to many employees who work there and to their families, but hopefully it will only be a short-term problem. I have discussed with Governor Bredesen how I can be of as much help as possible to those affected.    » read more »

June 01, 2009 -- MADISON – Wisconsin Governor Doyle today issued the following statement regarding recent General Motors and Chrysler developments that might affect the Janesville and Kenosha plants:

“Today we are learning more about the respective bankruptcies of General Motors and Chrysler, and about the potential effects on Wisconsin, especially on the workers in Janesville with GM and in Kenosha with Chrysler. We all understand how important auto manufacturing is to the overall economy of Wisconsin, including the auto suppliers and dealerships, and the thousands of employees and their families directly affected.    » read more »

June 1, 2009 -- LANSING - Michigan Governor Jennifer M. Granholm today issued the following statement on General Motors:

"This is undoubtedly a painful day for General Motors, for Michigan and for the families who depend on GM for their livelihood. Although we knew this day was coming, it doesn't make it any easier. GM and Michigan will emerge from this challenge and help to lead the new green economy.

"At the state level, we will do all we can to protect the people affected - from helping those who lose their jobs with unemployment insurance and job training, to assisting those communities that need investments to find new uses for closed facilities.    » read more »

June 01, 2009 -- FRANKFORT, Ky.—“We’ve been in communication with GM today and anticipate GM will continue to produce the Corvette as they have for years right here in Kentucky.

"We will do whatever we can as a state to ensure the viability and longevity of the Bowling Green Assembly Plant.

"GM's impact is not only felt through the assembly plant in Bowling Green, but with its supplier network throughout Kentucky. Suppliers have dealt effectively with the known shutdowns to date, minimizing the impact on its workforce.

"While production levels at the Bowling Green Assembly Plant aren't what they've been, suppliers are still preparing to supply GM for the new model change-over.”

Source: Kentucky Governor

Markell says Boxwood employees deserved opportunity to help GM turn around

June 1, 2009 -- WILMINGTON -- Delaware Governor Jack Markell released the following statement Monday in response to General Motors' decision to close its Boxwood Road plant. Since taking office in January, Markell has worked with U.S. Sen. Tom Carper, U.S. Sen. Ted Kaufman and U.S. Rep. Mike Castle to be in frequent contact with GM officials.

The Governor also recently met with President Obama's car czar and told the company the state would be willing to offer assistance if GM would idle the plant instead of closing the facility.    » read more »

DEARBORN, Mich., June 1, 2009 – Today's announcement that GM is filing for Chapter 11 bankruptcy is another important development during this unprecedented period for the auto industry and the global economy.

The Ford team continues to monitor the industry environment and plan for all contingencies to ensure our transformation plan remains on track. At this time, we do not expect any major disruptions to our operations as a result of today's news.    » read more »

Judge Authorizes Access to $15 Billion in Debtor-in-Possession (DIP) Financing; GM Can Maintain Normal Operations without Impacting Customers, Employees and Key Suppliers

June 1, 2009 -- New York – General Motors Corporation today reported that it has received U.S. Bankruptcy Court approval to continue honoring all vehicle warranty programs and dealer incentive plans. This and other Court orders today enable GM to assure consumers that warranty coverage on GM vehicles will continue without interruption, whether they already own a GM vehicle or intend to buy a new one; that genuine GM parts will be supplied; and that GM-trained Goodwrench specialists will perform all services.    » read more »

Statement of Kent Kresa, Chairman

June 1, 2009 -- “The General Motors Board of Directors authorized the filing of a chapter 11 case with regret that this path proved necessary despite the best efforts of so many. Today marks a new beginning for General Motors. A court-supervised process and transfer of assets will enable a New GM to emerge as a stronger, healthier, more focused and nimbler company with a determination not to just survive but to excel.

"The Board concluded that the proposed transformation will maximize the value of the enterprise, and the return to the many stakeholders who have been involved with GM over the years.    » read more »

14 U.S. Manufacturing Plants & Three Service And Parts Operations Warehouses Impacted

June 1, 2009 -- DETROIT, Mich. -- General Motors Corp. (NYSE: GM) today announced details of its accelerated manufacturing plan to improve capacity utilization and flexibility for the New GM. GM also reaffirmed it will build a small car at one of its U.S. assembly plants on standby capacity status.    » read more »

June 1, 2009 -- As announced this morning, GM has reached agreement with Delphi regarding the sale of certain U.S. plants and Delphi's global steering business to GM and the sale of most of Delphi's global business operations to Platinum Equity.

GM is pleased that Delphi has agreed to move forward with plan modifications and is committed to completing these transactions through a 363 sale if stakeholder support is not sufficient to achieve prompt confirmation of the modified plan.

These developments represent an important step in resolving the Delphi bankruptcy and in GM's own restructuring efforts.

Source: GM

New GM Expected to Launch in 60-90 Days Under New Ownership

DETROIT, June 1, 2009 - General Motors Corp. (NYSE: GM) today announced that it has reached agreements with the U.S. Treasury and the governments of Canada and Ontario to accelerate its reinvention and create a leaner, stronger "New GM" positioned for a profitable, self-sustaining and competitive future.    » read more »

May 29th, 2009 - WASHINGTON - Senator Lamar Alexander (R-Tenn.) issued the following statement today regarding General Motors and its factory in Spring Hill, Tennessee:

“General Motors’ Spring Hill plant has been an important magnet for the growth of auto jobs in Tennessee. I am doing everything I can to help it be a part of our future,” said Alexander. “Communities across our state are worried about how GM’s restructuring will impact them—from the Spring Hill plant to the thousands working for auto parts suppliers and car dealerships. In terms of keeping and creating new auto jobs, the sooner the federal government gets out of the business of trying to run auto companies the better.    » read more »

2009-05-31 -- General Motors (NYSE: GM) announced today that the U.S. Department of the Treasury has informed the company that the support of more than 54% of the bondholders allows GM to proceed with the 363 Sale Proposal announced in a Form 8-K filing on May 28, 2009.    » read more »