Word: gm
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Dates: during 2000-2009
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...largest bankruptcy in U.S. history. With more than $82 billion in assets, GM became the largest industrial company to file for Chapter 11. The biggest loser in absolute size is Lehman Brothers, with $639 billion in assets, followed by Washington Mutual and WorldCom...
...leading market for the cheap, green vehicles, helping to offset some of the harmful effects of the country's automobile boom. Indeed, as engineers around the world scramble to create eco-friendly, plug-in electric cars, China is already ahead of the game. Says Frank Jamerson, a former GM engineer turned electric-vehicle analyst: "What's happening in China is sort of a clue to what the future will be." (See the top 10 green stories...
...outlets used to juice up bikes. But when four-wheeled technology becomes road-ready, it will find a willing customer base in China. "The Chinese have a hundred million people on electric bikes," says Jamerson. "That means a hundred million potential customers" for electric cars. When he worked at GM, which filed for bankruptcy on June 1, Jamerson said he once suggested the company give away an electric bike with every new car, just to get customers used to the idea of a means of transportation you plug in every night. His bosses thought he was joking. When the electric...
...However, GM is an exceptionally complex enterprise, with 400 separate subsidiaries all over the world, some of which are consolidated and some of which are not. In fact, going forward, GM's huge European operations, including its burgeoning business in Russia, will no longer be consolidated. It also appears that GM could withhold information on pension obligations, which are separate from the VEBA, even though that will remain with the new GM...
...have an inherent conflict where the new GM is a private company and will argue they do not have to disclose financial information," says Brad Coulter, a consultant with O'Keefe & Associates in Bloomfield Hills, Mich. "But the new GM's major shareholder is the U.S. government, or essentially you and I; and I think the taxpayers and Congress should demand public filings of financial information just as they did when GM was a public company...