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To date, the U.S. government has reportedly given General Motors, Chrysler, their financial institutions and various industry suppliers about $80 billion in taxpayer money, and Congress wants to know when we're going to get that money back. The Senate Banking, Housing and Urban Affairs Committee ...

The die is cast: General Motors has filed for bankruptcy. As expected, the automotive giant filed for Chapter 11 bankruptcy protection this morning in a New York court, listing $82 billion in assets and $172 billion in debts.As we told you earlier, the century-old company will gain extensive ...

According to the BBC News, supplier Magna International has come to terms with General Motors to purchase a majority stake in its European Opel division. While an agreement has been reached between the two parties, the German government – which has agreed to provide financial assistance for ...

Detroit News columnist Daniel Howes has penned a commentary on what he believes the "mind-numbing" future could be if the White House and the United Auto Workers end up with majority control of General Motors.Howes fears that a government-and-UAW-controlled boardroom would end up an echo chamber, ...

According to a post on The Detroit Bureau, a key stipulation in the tentative contract reached between the United Auto Workers and Chrysler is that the union's right to strike will be all but eliminated for at least the next few years.As quoted in the story, Harley Shaiken, a labor relations ...

Ask for a little help from the government, and the next thing you know you're asking for the government to protect you from the very help it's giving you. General Motors is restructuring its debt load by offering equity shares instead of cash to debt holders, namely the government and the UAW. The ...

Let's go ahead and get it out there: General Motors doesn't have a plan for Saab, Saturn, or HUMMER – it has a bunch of hopes, ideas and proposals. The best that GM can do with Saab is try to extricate the brand from its entangled web, which might make it more attractive to a buyer. That ...

The UAW idled Chrysler's jobs bank earlier this week, and as of February 2, the UAW and General Motors will shut down the job bank it also maintains for its workers. GM is paying the 1,600 workers currently in the system 85% of their on-the-job wages. As of February 3, they will receive a measure ...

Dealership rationalization was something General Motors was looking at well before the economy went pear-shaped. GM still has more than 6,300 dealerships in the U.S., and it is even more important now to start shedding some of that financial burden. That is why The General told dealers at the NADA ...

The good news: Saturns will remain in production until 2012 or 2013... at least. The bad news: the Saturns currently being produced might not get any new updates or engineering before then. That's the bitter and the sweet that GM revealed to Saturn dealers at the NADA conference.On the warm, fuzzy ...