Word: gm
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...Whether or not the new ad sells cars, it is clearly having a cultural impact. It has already spawned at least one spoof ("Let's be completely honest," it opens. "Our lawyers say we have to ...") and much Internet chatter, with one wag wondering if GM was wise to adorn the spot with music from a song ("Interstate 5," by the Wedding Present) about a person who was used for a night and then abandoned. Here's hoping GM customers don't identify with the lyrics too closely...
...GM stock has been delisted, dumped from the Dow, and is pretty much worthless. But with government backing, as they say, even pigs can fly. Indeed, just days after filing for bankruptcy, General Motors Corp. is already plotting a path beyond Chapter 11, including the sale of stranded assets and even an offering of new stock...
...principle shareholders of any new GM - the U.S. Treasury, Canada's federal government and the United Auto Workers (UAW) - are keenly interested in getting GM stock back into circulation. "There is a lot of interest from the future stakeholders ... to start the process of selling down the shares. All agree that it's important to make General Motors a publicly traded company," says Ray Young, GM's chief financial officer. The earliest it would happen, Young projects, is around the first or second quarter of 2010. (See pictures of the remains of Detroit...
...advisers, and there would be at least three - one for the U.S., one for Canada and one for the UAW - who would all have to reach consensus on a strategy for maximizing value. That most likely means a gradual release of the shares once an IPO of the new GM has occurred. After that, says Young, "it could take years to unwind the government and union positions...
...will GM deal with investors during its long journey back to public life? Says Young: "We're still working through the issues of what form of disclosure we will have." He acknowledges that GM will be making significant changes to its balance sheet by writing off assets and revaluing others. Such activity will be done as openly as possible, adds GM spokeswoman Renee Rashid-Merem. "We will provide an adequate level of detail," she says. "It's not our intention to be a secretive company." (Watch a video about an optimistic Dodge dealer...