GmBankruptcy

New General Motors CEO Dan Akerson's first bit of big news isn't exactly good news: paying back the taxpayer for loans during GM's dark days is going to take years. How many years remains uncertain, with Akerson saying the company's performance will be the test, since repaying the government in a ...

When General Motors announced a couple of weeks ago that it had completed the arbitration process with all of its discontinued dealers, the automaker no doubt hoped that its painful retail shrinkage process was over. But sadly, it was not to be – Rally Auto Group of Palmdale, CA, is ...

A little more than a year ago, General Motors had in excess of 6,000 dealerships across the country. In the viability plan GM submitted to Congress the automaker stated it would shut down 400 dealerships every year, shedding 1,600 of them by 2012. The General said it eventually wanted to get down ...

According to The Detroit News, General Motors will announce that it is fully repaying the federal loans it received last summer from both the United States and Canadian governments. In total, General Motors will have paid back about $6.7 billion ($2 billion of which has already been returned) of ...

General Motors, which hasn't been allowed to forget its recent financial propping up by all of us, is apparently still worth more than Ford Motor Company. That's a dubious fact that sticks in the craw of Detroit Free Press columnist Tom Walsh. Ford, you'll recall, preemptively mortgaged itself up ...

Planning for the future is perhaps an alien concept to big business – even automakers, with their protracted product development cycles. Take a cue of what not to do from them, then, and start planning now for next Christmas. May we suggest that your 2010 wishlist starts with what's ...

Among those clamoring for attention and payouts from Motors Liquidation Co., the company that assumed General Motors' unwanted assets after its Chapter 11 filing, are the environmental and economic redevelopment departments of state governments. According to reports, when GM exited bankruptcy, ...

Due to what appears to be a slight (additional) bending of the rules, the "new," post-bankruptcy General Motors has been allowed to carry the $16 billion net operating loss that was created by the "old" GM. That means that New GM will not have to pay taxes on its profits for a while, because the ...

The short version: old General Motors is worthless, new General Motors is... well, less worthless. The Securities and Exchange Commission has already warned us that Motors Liquidation Company, the new name for the leftover scraps of GM, is not expected to return any value to stockholders. Despite ...