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GM Bankruptcy

3:30pm: GM nears completion of Hummer sale

October 8, 2009

DETROIT (AP) — General Motors Co. is poised to sign a deal to sell its Hummer brand to a Chinese heavy equipment manufacturer as early as Thursday afternoon, a person briefed on the deal said. Representatives of Sichuan Tengzhong Heavy Industrial Machinery Corp. have been in the U.S. for the past nine days working on final details with GM, and both sides hope to sign a definitive sales agreement on Thursday or Friday, said the person, who asked not to be identified because the deal is not final. The purchase price was not known, but GM said in its bankruptcy filing that Hummer might bring $500 million or more. Hummer, whose smallest model gets 16 miles per gallon in combined city and highway driving, sold well until the middle part of this decade when fuel prices began to rise. Through September, GM has sold only 8,193 Hummers in the U.S. this year, down 64 percent from the same period last year. In September, only 426 Hummers were sold nationwide, according to Autodata Corp.

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11am: GM, Chrysler to meet with dealers

September 30, 2009

WASHINGTON (AP) — General Motors and Chrysler are scheduled to meet Wednesday in the U.S.

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3 pm: GM's program on eBay set to end

September 29, 2009

DETROIT (AP) — General Motors says it's ending a trial program that put new cars for sale in California on eBay as it shifts its focus to national marketing efforts.

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1:34 p.m.: Study says Delphi cuts could be "catastrophic"

September 28, 2009

YOUNGSTOWN — The Mahoning Valley’s already rocky economy faces the ‘‘catastrophic’’ loss of about $161 million a year and some 4,830 jobs from deep pension cuts and higher health care costs for Delphi Packard Electric retirees, according to a study...

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4:45 p.m.: GM investing $21 million in Flint Assembly plant

September 21, 2009

FLINT, Mich. (AP) — General Motors Co. says it plans to invest more than $21 million in its Flint Assembly plant to build the 2011 Chevrolet light-duty crew cab truck.

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Obama tells autoworkers his policies help

September 15, 2009

LORDSTOWN (AP) — President Barack Obama, claiming credit for an uptick on his watch, told autoworkers Tuesday that the economy is on its way back from the brink because of his policies.

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