General Motors

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GM to Buy Back 200M Shares From Treasury

Move could speed up US exit from company

(Newser) - General Motors will spend $5.5 billion to buy back 200 million of its own stock from the US government in the next two weeks, accelerating Uncle Sam's exit from the automaker, the company announced today. GM will pay $27.50 a share, a 7.9% premium on yesterday'...

Owners Love Their Volts, but $40K Is Still Too Much

It's a 'marvel,' but it will take years to recoup investment: Joann Muller

(Newser) - Owners of Chevy Volts love their cars, as a new Consumer Reports survey makes clear. It's No. 1 in terms of owner satisfaction for the second straight year, with 92% saying they would buy one again, reports NBC News . "The Volt is indeed an engineering marvel," writes...

Apple, GM Bringing Siri to Cars
 Apple, GM Bringing Siri to Cars 
Nov 27, 2012 8:41 AM CST

Apple, GM Bringing Siri to Cars

Upcoming models to connect to iPhone via Bluetooth

(Newser) - Soon, your car may be able to fumblingly attempt to respond to your requests in a snarky robotic voice, too. GM announced today that it will be integrating Siri into three of its new models—the Chevy Spark, the Sonic LTZ, and the RS. The cars will be able to...

GM to Add 1,500 Tech Jobs
 GM to Add 1,500 Tech Jobs 
Oct 8, 2012 5:25 PM CDT

GM to Add 1,500 Tech Jobs

Automaker has decided to stop outsourcing IT work

(Newser) - General Motors released a bit of positive jobs news today, announcing that it will be hiring 1,500 people for a new software development center in Michigan, as it reverses its longstanding trend of outsourcing its IT work overseas. The Michigan plant will be the second of four planned new...

Fire Hazard Forces GM, Isuzu to Recall 258K SUVs

Short-circuits in window cause fires

(Newser) - General Motors and Isuzu are recalling more than 258,000 SUVs after getting reports of 28 fires apparently caused by short-circuits in the cars' power windows and door locks. The recall covers many vehicle makes from the 2006 and 2007 model years, including the Chevy TrailBlazer, GMC Envoy, Buick Rainier,...

Ryan Lobbied Hard to Save Wisconsin Auto Plants

Despite free-market credo, pushed for local car plants

(Newser) - Not only did deficit-hawk Paul Ryan vote for Detroit's $14 billion emergency bailout, he also spearheaded two lavish incentive plans that gave hundreds of millions of dollars in tax breaks and benefits to keep a large GM plant in his hometown, reports the Los Angeles Times . That plant closed...

GM Is Going to Need Another Bailout
GM Is Going to Need
Another Bailout
OPINION
Aug 16, 2012 3:33 PM CDT

GM Is Going to Need Another Bailout

It will probably go broke in a few years: Forbes' Louis Woodhill

(Newser) - The feds may have bailed out GM once, but the way things are going, the company is going to need Round 2 in the near future, writes Louis Woodhill at Forbes . The numbers aren't pretty: The US still owns 26% of the company and would need about $53 a...

Auto Bailout Loss Jumps to $25B

 Auto Bailout Loss 
 Jumps to $25B 
new report
Aug 14, 2012 7:58 AM CDT

Auto Bailout Loss Jumps to $25B

New Treasury report registers a 15% rise in predicted losses

(Newser) - The auto bailout just hit America's wallet about 15% more than expected. In its monthly report to Congress, the Treasury Department tacked another $3.3 billion onto the expected auto bailout losses, bringing the estimate to $25.1 billion lost on the $85 billion rescue. And the Detroit News ...

GM Recalls 475K Chevy Cruzes
 GM Recalls 475K Chevy Cruzes 
Jun 22, 2012 12:48 PM CDT

GM Recalls 475K Chevy Cruzes

Automaker says the engines might catch fire

(Newser) - A black eye for GM today: It's recalling more than 475,000 Chevy Cruzes because the engines might start on fire, reports the Detroit Free Press . The recall covers all those in the 2011-12 model years and comes after reports of 30 fires. Most occurred after fluid got trapped...

Wages Flat Since Obama Took Office

It could be big topic tomorrow, as Romney declares 'talk is cheap'

(Newser) - Wages have stayed virtually frozen since President Obama took office, a fact that Politico notes is starting to get some traction on the campaign trail. When adjusted for inflation, the average hourly wage has crept up a meager 42 cents to $23.41 since 2008. High unemployment is a factor,...

GM Won&#39;t Buy Ads in Next Super Bowl
GM Won't Buy Ads
in Next Super Bowl
May 18, 2012 5:06 PM CDT

GM Won't Buy Ads in Next Super Bowl

It's too expensive, says marketing chief

(Newser) - Maybe Facebook shouldn't feel too bad that GM is dropping its paid ads from the site: The automaker isn't buying any Super Bowl spots next year, either, reports the Wall Street Journal . GM, usually a heavy presence in the big game, says the price of the ads—currently...

Facebook's Ad Pitch 'Backfired': GM Insiders

Facebook apparently touted ... free pages

(Newser) - A key reason for General Motors' decision to drop paid Facebook ads : A pitch meeting didn't go so well. Sources tell Reuters that GM met with Facebook honchos in the last few weeks; in the meeting, marketing reps reportedly pointed to the effectiveness of their free pages. The paid...

Ford to GM: You're Just Bad at Facebook

Automaker says Facebook does work, but not like a normal ad platform

(Newser) - GM unfriended Facebook this week, saying that advertising there didn't work. But rival Ford says there's another explanation: GM must be doing it wrong. "It's all about execution," Ford said in a Tweet spotted by the Huffington Post . "Our Facebook ads are effective when...

GM Ditching Facebook Ads

 GM Ditching 
 Facebook Ads 
May 15, 2012 3:52 PM CDT

GM Ditching Facebook Ads

Effort wasn't drawing in customers, says company

(Newser) - Bad news for Facebook ahead of its IPO: General Motors, the third-biggest advertiser in the US, has decided to stop running paid ads on the site. GM execs have found the ads aren't very effective—a conclusion other advertisers have apparently reached as well, the Wall Street Journal reports....

Mitt Takes Credit for Saving Auto Industry

Comments a 'new low in dishonesty,' Obama campaign says

(Newser) - Mitt Romney says he deserves a lot of the credit for saving America's auto industry, despite his vocal opposition to taxpayer help for General Motors and Chrysler in 2008. The Republican, speaking at an auto parts maker in Cleveland yesterday, said Obama followed his lead by allowing both firms...

Subprime's New Frontier: Auto Loans

Banks jumping back into lucrative market

(Newser) - That whole "subprime crisis" hasn't scared banks away from the lucrative world of subprime lending. The nation's top subprime lenders—like Capital One, GM Financial, HSBC, and JPMorgan Chase—are all trying to woo back less-creditworthy borrowers, who tend to rack up late fees while paying rates...

New Cadillacs to Warn Drifting Drivers

Seat will vibrate, for non-embarassing warning

(Newser) - We've all done it. At some point you're driving and you get distracted, or you start to nod off, and your car starts to drift out of its lane. If you're in the market for a new Cadillac, your car may soon have your back. The Cadillac...

GM Will Halt Volt Assembly 5 Weeks Amid Slow Sales

Move will idle 1,300 workers temporarily

(Newser) - The Chevy Volt's battery fires may have generated a lot of heat for General Motors, but sales of the electric car are decidedly cool, forcing GM to shut down the Volt's production lines for five weeks beginning this month, reports the Wall Street Journal . The shutdown will leave...

GOP Grumbles as GM Spends $500M on Bonuses

Uncle Sam should come first, Republicans say

(Newser) - General Motors had a great year last year— making a record profit and reclaiming its crown as the world's biggest automaker —but some lawmakers aren't happy about its plans to reward its workers. The company plans to pay bonuses of at least $182 million to white-collar workers...

GM&#39;s 2011 Profit: Biggest Ever
 GM's 2011 Profit: Biggest Ever 
Feb 16, 2012 7:12 AM CST

GM's 2011 Profit: Biggest Ever

It made $7.6B; that's up 62% over 2010

(Newser) - General Motors earned its highest profit ever last year. The 103-year-old company made $7.6 billion in 2011, up 62% from 2010. Full-year revenue rose 11% to $105 billion. North America led the way with a $7.2 billion pretax profit, but problems surfaced that could hurt future earnings: GM...

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