The U.S. is winding down its stake in the country’s biggest auto maker, General Motors. GM said Wednesday it would pay $5.5 billion for 200 million shares of stock held by the government, with the United States likely to sell its remaining 300 million shares over the next 12 to 15 months. The U.S. rescued […]
US to Wind Down Its General Motors Stake
Posted December 19th, 2012 at 10:05 am (UTC-5)
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GM Plans to Pull Ads from Facebook
Posted May 16th, 2012 at 5:20 am (UTC-5)
U.S.-based General Motors says it will stop all of its paid advertising on Facebook, raising doubts about the viability of the popular social network ahead of its eagerly awaited debut as a publicly traded company. A spokesman for the world’s largest automaker says it decided to pull its ads off Facebook because they have not […]
General Motors Recorded Biggest Profit Ever in 2011
Posted February 16th, 2012 at 10:55 am (UTC-5)
U.S.-based General Motors, the world’s largest automaker, recorded its biggest profit ever in 2011, two years after emerging from bankruptcy with the help of a government bailout. The century-old carmaker says strong sales in the United States and China helped push its profits to $7.6 billion, easily topping the company’s previous $6.7 billion earnings peak […]
Union Approves Labor Pact With General Motors
Posted September 28th, 2011 at 3:31 pm (UTC-5)
The United Auto Workers labor union has approved a new four-year contract with General Motors, the largest U.S. car manufacturer. The deal covers more than 48,000 workers at GM, and could set a precedent for the union’s upcoming negotiations with two other U.S. automakers, Ford and Chrysler. While most U.S. labor union agreements with corporations […]
General Motors Nearly Doubles Profit in 2nd Quarter
Posted August 4th, 2011 at 11:35 am (UTC-5)
General Motors, the largest U.S. automaker, says it nearly doubled its profits in the April-to-June period compared to a year ago. The automaker, which could supplant Japan’s Toyota Motor as the world leader this year, reported Thursday that it earned more than $2.5 billion in the second quarter compared to more than $1.3 billion in […]
