General Motors' enormous Willow Run plant built B24 Liberators that helped win World War II, but after 68 years, the historic facility has hit the end of its run. Willow Run built its last automatic transmission on December 15th. The site was originally set up by Henry Ford on a piece of his farmland, but has been owned by General Motors since the company purchased it from Kaiser-Frazer.
The U.S. Government and old General Motors have reached an agreement that may make some of the company's former properties more appetizing to buyers. The estate of the bankrupt GM has agreed to set up a $773 million trust dedicated to cleaning up 89 of the company's former properties. Around two-thirds of those are known to have been contaminated by hazardous waste. The deal was reached with the approval of 14 states and a tribal government, though the federal government and some states will sti
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 to, and including its dental fillings to avoid the fate that befell GM and Chrysler. What's not computing for Walsh is that despite clearer financial leadership, Ford is still worth less according to th
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.
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