25 result(s) displayed (1 - 25 of 35):
Ron Bloom, the head of the White House automotive task force, reiterated the government's desire to reduce its majority stake in General Motors Co., telling Reuters the automaker could launch an initial public offering before the end of 2010.But the emphasis is on the word "could," as Bloom also echoed...
Posted on November 18, 2009 3:35 PM
Opel workers want GM to give them more power by changing the European automaker's incorporation status from 'GmbH' to 'AG.' But GM is not likely to comply.
Posted on November 13, 2009 12:13 PM
General Motors Co. CEO Fritz Henderson kicked off a sales challenge worthy of the slickest used car dealer on Monday, traveling to Germany to meet with leaders of the company's Adam Opel GmbH unit to discuss the European automaker's future inside of GM.Henderson arrives in Germany accompanied by GM international...
Posted on November 9, 2009 3:03 PM
General Motors Co. appears set to bring in a new team to lead the overhaul of its German Adam Opel GmbH unit.The Detroit-based automaker, which earlier this week called off a planned sale of Opel in favor of keeping it in-house, said Friday that unit president Carl-Peter Forster will be...
Posted on November 6, 2009 4:00 PM
Like a lot of other folks, we followed the twists and turns in the saga of General Motors Co. and its Adam Opel GmbH unit partly through the blog postings of John Smith, GM group vice president for Europe and lead negotiator on the planned divestiture. Having noted the unusual...
Posted on November 5, 2009 11:10 AM
Much has been made of the assertiveness shown by the board of General Motors Co. in critiquing the automaker's post-bankruptcy revitalization plan. In a Wall Street Journal piece Friday, the new chairman of GM crosstown rival Chrysler Group LLC says his group has been just as willing to flex its...
Posted on October 23, 2009 3:01 PM
With the sale by General Motors Co. of a majority stake in Adam Opel GmbH now looking like it will finally close, the Financial Times on Wednesday published a big article on an underexamined element of the deal: the partnership between Magna International Inc. (NYSE:MGA) and Russia's OAO Sberbank, which...
Posted on October 14, 2009 2:11 PM
The auto industry, an "old economy" basket case in desperate need of 21st century ideas, is finding out first-hand what does and doesn't work when trying to sell online. General Motors Co. has pulled the plug on its much-ballyhooed experiment to sell cars on eBay, calling the seven-week program a...
Posted on September 30, 2009 3:46 PM
General Motors Co. appears to be moving toward completing one divestiture key to its ongoing restructuring even as another sale faces fresh uncertainty.Entrepreneur Roger Penske's auto dealer company should formally close on its deal for GM's Saturn brand on Wednesday, according to the Detroit Free Press, meeting the target date...
Posted on September 29, 2009 2:21 PM
American Axle & Manufacturing Holdings Inc. appears to have avoided the fate of many of its auto parts brethren, reaching a deal with former parent General Motors Co. to secure $210 million in support that the company hopes will allow it to avoid a bankruptcy filing.Detroit-based American Axle in a...
Posted on September 18, 2009 11:18 AM
After months of negotiations, General Motors Co. has finally made a decision about the fate of its Adam Opel GmbH subsidiary. But the jury is still out on whether GM has solved its European problem or simply created new headaches in selling 65% of the company to a consortium of...
Posted on September 10, 2009 4:29 PM
The CFO job at General Motors Co. has in recent years been a pathway to the corner office. But it seems no such move is in the cards for current chief financial officer Ray Young, who will reportedly leave the automaker in the coming weeks.Two recent CFOs, Rick Wagoner and...
Posted on September 9, 2009 2:04 PM
As we've discussed here, the sale of Adam Opel GmbH by General Motors Co. has been a months-long saga with something for everyone -- a heady mix of business, finance and politics local, national and global. We've been thinking that if only someone could really get behind the scenes, especially...
Posted on September 2, 2009 2:37 PM
The day's M&A news wouldn't be complete without a development in the long-running auction of Adam Opel GmbH by General Motors Co.And here it is: Private equity-backed RHJ International, rival to Magna International Inc. (NYSE:MGA), the bidder that the German government prefers, has just notched up its bid (to €300...
Posted on September 1, 2009 4:42 PM
Over on Automotive News Europe columnist Luca Ciferri has a good piece headlined "Seven reasons why GM is considering keeping Opel."Some of the reasons have been mentioned in previous coverage of the long-running auction--for example, the desirability for General Motors Co. (NYSE:GM) of keeping control of Opel in Russia, rather...
Posted on August 31, 2009 1:22 PM
"Germany says talks with GM on Opel are far from over," says the Friday morning Reuters headline. Which means that discussions about the sale of the Adam Opel GmbH unit of General Motors Co., already months old, could continue for many more weeks, beyond the Sept. 27 German election that...
Posted on August 28, 2009 10:37 AM
The axe finally fell on a Northern California automobile plant on Thursday when Toyota Motor Corp. (NYSE:TM), as expected, decided to cease production at New United Motor Manufacturing Inc. in March 2010.The fate of Fremont, Calif.-based Nummi has been in doubt since June, when General Motors Co. said it was...
Posted on August 27, 2009 2:21 PM
Chinese automaker BYD Co. is pledging to bring an electric vehicle to the U.S. next year, a development that threatens to steal some of the marketing spotlight General Motors Co. hopes to grab when it introduces its own Chevy Volt in the second half of 2010.BYD chairman Wang Chuanfu told...
Posted on August 25, 2009 8:35 AM
Would the retention of Adam Opel GmbH by General Motors Co. after a long and contentious auction process be politically as well as economically attractive for GM, as Ken Klee argued here Monday morning? Maybe. But that doesn't mean GM will be able to get the help needed to make...
Posted on August 24, 2009 3:43 PM
It appears Nummi might soon be no more. The New United Motor Manufacturing Inc., until earlier this year a Fremont, Calif.-based joint venture between General Motors Corp. and Toyota Motor Corp. that produced vehicles for both firms, has been the subject of considerable uncertainty since GM decided to leave its...
Posted on August 17, 2009 4:41 PM
What if ordering a Buick were more like ordering a laptop computer from Dell Inc. (NASDAQ:DELL)? You might like it. The new General Motors Co. might learn to like it too. But for car dealers, who have the most to lose in any transition, it's a troubling thought. Like real...
Posted on August 12, 2009 3:40 PM
With the new, streamlined General Motors Co. now out of bankruptcy, attention has turned to when the government-owned automaker will try to launch an initial public offering. And while its intention to do so is clear, the particulars of an offering are anything but.The company might have provided a clue...
Posted on August 10, 2009 5:38 PM
When the Obama administration announced $2.4 billion in matching grants Wednesday to charge up the nascent U.S. electric vehicle industry, Johnson Controls Inc. (NYSE:JCI), the big auto parts company, got the single largest grant, worth $299 million. The Deal Pipeline has the story (subscription required). All told the government made...
Posted on August 7, 2009 10:00 AM
John Smith, the group vp who is General Motors Co.'s (NYSE:GM) chief negotiator for the sale of a stake in the company's Adam Opel GmbH unit, has some advice for people following this tangled auction: Don't believe everything you read in the press about it. Specifically, don't put much credence...
Posted on August 6, 2009 5:25 PM
Interesting tidbit in Monday's Wall Street Journal curtain-raiser on the first meeting of the newly reconstituted board of General Motors Co. The Journal quotes former Medtronic Inc. (NYSE:MDT) chairman Bill George (pictured) on what GM chairman Ed Whitacre should be doing in the post. Mainly, says George, Whitacre should be...
Posted on August 4, 2009 9:18 AM
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