One of the regular questions relating to the Chevrolet Volt is: what happens to the fuel in the tank if it's not used for extended periods of time and the car is only run on plug power? General Motors officials have said that the engine might periodically run just for the purpose of using up some gas as well as circulating the oil and making sure that all the systems are working properly.
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At some point in the not too distant future, General Motors will return to being a publicly traded company, with the timing likely to be based in part on both business and politics. In May, the automaker began soliciting investment banks to handle the sale of its stock. With what will likely be one of the largest public stock offerings of all time, the banks are undoubtedly salivating at the potential fees they will collect in the process.
It looks like General Motors could file its first paperwork for an initial public stock offering as soon as next week. The IPO registration is the first step in the process of getting approval from the Securities and Exchange Commission to become a publicly traded company again. A stock sale could come as soon as November and probably no later than early 2011.
Most agree that the majority of General Motors' recent products are easily on par with the competition in terms of design, quality and performance. And having shed much of its legacy costs in bankruptcy last year, GM should be making money on those products. However, sales of many of its newest, greatest products have languished and the blame seems to have fallen – according to Jim Hall and Peter Delorenzo – on marketing.
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 this, the stock still has a fractional dollar value assigned to it, and some investors are still trading it. Yesterday, shares dipped 52%, closing at 55 cents.
Rock, meet hard place. With General Motors handed a directive from the White House to be ultra-aggressive in its restructuring in order to secure more government loans, the automaker is making cuts everywhere and dealers are far from immune. As reported previously, GM's plan to shrink its retailers from nearly 6,300 to 3,700 by the end of 2010 is going to be as painful as a Civil War amputation. Initially, General Motors will deny franchise renewal to dealerships that don't measure up on metrics
At the Plug-In 2008 conference in San Jose CA this week General Motors will be on hand to announce a partnership with the Electric Power Research Institute (EPRI) to promote plug-in vehicles. GM VP for Global Program Management Jon Laukner will be delivering a keynote address at the Plug-in conference on Monday, and the EPRI partnership is expected to be part of the discussion. At this point GM doesn't have any production plug-in vehicles, but will debute two different models in the next two yea