Apr 01 NUMMI Car Plant Closes in California By Jason Breslow The last 1,500 employees at the West Coast's only car plant will be out of a job by day's end Thursday when a 26-year experiment in auto-making officially comes to a close. The New United Motor Manufacturing, Inc. plant,… Continue reading
Apr 01 Watch News Wrap: New England Floodwaters Recede In other news Thursday, floodwater began to recede in New England's hard-hit communities, leaving enormous damage in its wake. Also, new federal rules for gas mileage and auto emissions became final. Continue watching
Mar 08 Colorado Moves to Steer Aid Toward Closed Car Dealers A lot of new car dealers have been looking for other work in the past year in the wake of the bankruptcies of General Motors and Chrysler. In Denver, GM told several local dealers to start winding down their… Continue reading
Dec 30 U.S. Steers $3.8 Billion in Additional Aid Toward GMAC GMAC Financial Services has already received $12.5 billion in government aid. On Wednesday, the auto and home lending giant got another $3.8 billion. The new aid is less than the $5.6 billion that the troubled lender indicated it was… Continue reading
Dec 15 GM to Repay $6.7 Billion in Bailout Funds, CEO Says General Motors plans to repay $6.7 billion in federal aid by the end of June, the company's new chief executive officer, Edward E. Whitacre Jr., told reporters Tuesday. GM owes the U.S. $6.7 billion out of $52 billion… Continue reading
Jun 02 Viewer Responses: Slamming Gettelfinger (And Us) Paul Solman: Thursday’s interview with UAW president Ron Gettelfinger elicited some strong reactions from viewers, of which these email excerpts are but a sample: Viewer 1: I have respected The NewsHour for years. Continue reading
Jun 01 GM Files for Bankruptcy Protection; Judge OKs Chrysler Asset Sale By Admin, PBS News Hour General Motors, a longtime cornerstone of American industrial power, filed for bankruptcy protection Monday morning and embarked on a broad restructuring, paving the way for the struggling automaker to receive another $30 billion in taxpayer aid. Continue reading
May 27 After Bond Deal Fails, Bankruptcy Likely for GM By PBS News Hour An offer by General Motors to its bondholders to trade bond debt for company stock fell through just days before the company must submit a government-ordered restructuring plan. Continue reading
Apr 27 GM to Slash Factory Jobs, Eliminate Pontiac Brand By PBS News Hour General Motors Corp. revealed restructuring plans Monday that include cutting 21,000 U.S. factory jobs by next year and phasing out its Pontiac brand. Continue reading
Apr 24 Ford's $1.4 Billion Loss in First Quarter Better Than Expected By PBS News Hour Ford Motor Co. posted a smaller-than-expected $1.4 billion loss for the first quarter on Friday, saying that it burned through less of its cash and reiterating that it still doesn't expect to ask the government for financial help. Continue reading