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GM Reinvention

Press Releases:

2009-07-10 The New General Motors Company Launches Today
DETROIT - The new General Motors Company began operations today with a new corporate structure, a stronger balance sheet, and a renewed commitment to make the customer the center of everything the new GM does. ...

2009-07-10 The New General Motors "Day One" Press Conference - Remarks by Fritz Henderson
Today marks a new beginning for our company, one that will allow every single employee, including me, to return to the business of designing, building, and selling great cars and trucks, and serving our customers. And there is nothing we want to do more than that! ...

2009-07-09 MEDIA ADVISORY: GM President and CEO Fritz Henderson to Provide Business Updates
DETROIT - General Motors President and CEO Fritz Henderson will host a press conference on Friday, July 10, to update the media on GM business activities. This will be followed later in the day by web and Twitter chats. ...

2009-07-08 GM BANKRUPTCY COURT ISSUES FINAL ORDER ESTABLISHING NOTIFICATION PROCEDURES AND APPROVING RESTRICTIONS ON CERTAIN TRANSFERS OF INTERESTS IN THE DEBTORS' ESTATES
DETROIT - Associated with its chapter 11 filing and efforts to preserve the value of its assets, General Motors Corp. must also preserve the ability to take advantage of certain tax assets, including net operating loss carry forwards (commonly referred to as "NOLs") and foreign tax credit carryforwards. ...

2009-07-06 GM 363 Asset Sale Approved by U.S. Bankruptcy Court
NEW YORK - General Motors achieved another milestone in its reinvention last night when Judge Robert E. Gerber of the U.S. Bankruptcy Court for the Southern District of New York approved the sale of substantially all of General Motors Corporation's assets to NGMCO, Inc., an entity funded by the U.S. Department of the Treasury. ...

2009-06-30 General Motors Statement Regarding EPA Granting California Waiver
The EPA's granting of California's emissions waiver is not unexpected. The EPA's decision should not diminish the collective commitment and effort on the part of automakers, California, federal regulators and environmental interests to follow President Obama's direction toward developing a single, harmonized national standard that improves fuel economy and reduces vehicle emissions. ...

2009-06-29 GM Media Statement Regarding GM's Ownership Stake in NUMMI
"As part of its long-term viability plan, General Motors has decided that its ownership stake in the New United Motor Manufacturing Incorporated (NUMMI) joint venture with Toyota will not be a part of the 'New GM'. ...

2009-06-25 GM Statement Re: U.S. Bankruptcy Court Approval of GM DIP Financing and Other Matters
New York - General Motors Corporation today received U.S. Bankruptcy Court approval of $33.3 billion in debtor in possession (DIP) financing from the U.S. Treasury and the Canadian and Ontario governments. ...

2009-06-16 General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab
Zurich. General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab's future. ...

2009-06-12 GM BANKRUPTCY COURT ISSUES NOTICE OF INTERIM ORDER ESTABLISHING NOTIFICATION PROCEDURES AND APPROVING RESTRICTIONS ON CERTAIN TRANSFERS OF INTERESTS IN THE DEBTORS' ESTATES
DETROIT - Associated with its recent chapter 11 filing and efforts to preserve the value of its assets, General Motors Corp. must also preserve the ability to take advantage of certain tax assets, including net operating loss carry forwards, commonly referred to as "NOL's". ...

2009-06-12 Fritz Henderson WrittenTestimony As Prepared For Delivery On: June 12, 2009
Behind each action we are taking to reinvent GM there is a human story. Our dealers are a part of the larger GM family. They are valued business partners and, for many consumers, the "face of GM". ...

2009-06-10 Statement On The Plant Selection To Produce The New Small Car For GM
On May 29, GM announced that we will build a future small, fuel-efficient car in the United States utilizing an existing UAW-GM assembly plant that is currently on standby capacity status. ...

2009-06-09 Edward Whitacre, Jr. to Become Chairman of New GM
Edward E. Whitacre, Jr., former chairman and CEO of AT&T Inc., will become chairman of the New GM when the company is launched later this summer, GM's interim Chairman Kent Kresa announced today. Kresa will continue to serve as interim chairman until the launch. ...

2009-06-08 GM Media Statement attributed to Mark LaNeve, GM North America Vice President, Vehicles Sales, Service & Marketing regarding GM's ongoing discussions with NADA on Dealer Participation and Wind-Down Agreements
"The consolidation of GM's dealer network nationwide is a very difficult, but necessary part of GM's overall reinvention efforts. ...

2009-06-05 General Motors, Penske outline proposed deal for purchase of Saturn
Detroit -- General Motors Corp. and Penske Automotive Group today confirmed details of a proposed transaction under which Penske would acquire the Saturn brand. ...

2009-06-03 GM Statement on Reporting
Following the closing of the "363" sale, New GM intends to make regular disclosures during the period it is private in order to provide appropriate information regarding our financial condition. ...

2009-06-03 Fritz Henderson Oral Testimony As Prepared For Delivery On: June 3, 2009
I welcome this opportunity to testify. It's our obligation to be open and transparent in all we do to reinvent GM, particularly with the American taxpayer as our largest investor. ...

2009-06-02 Tengzhong In Advanced Talks To Purchase HUMMER From GM In Strategic Acquisition
DETROIT and SICHUAN, June 2, 2009 - Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong) and General Motors Corp. today confirmed details of their proposed transaction, pursuant to which, Tengzhong, a major industrial machinery group, will acquire the rights to the premium off-road HUMMER brand, along with a senior management and operational team. ...

2009-06-02 Transcript: Fritz Henderson Press Conference, June 1, 2009
Thanks for joining us on a difficult, but very important day for General Motors Corporation. You have all heard President Obama's comments, received copies of GM's press release. Let me offer a few observations before opening it up for your questions. ...

2009-06-02 General Motors Announces Preliminary Agreement To Sell HUMMER
DETROIT - General Motors Corp. (NYSE: GM), announced it has entered into a memorandum of understanding (MoU) with a buyer for HUMMER, its premium off-road brand. ...

2009-06-02 GM Europe and Adam Opel GmbH Statement Confirming First €300 million German Government Loan Draw
Adam Opel GmbH confirmed today that it has received the first draw in the amount of €300 million from the €1.5 billion bridge financing agreement with the German government. ...

2009-06-01 GM Comment re: Delphi Agreements to Emerge From Chapter 11 Reorganization
As announced this morning, GM has reached agreement with Delphi regarding the sale of certain U.S. plants and Delphi's global steering business to GM and the sale of most of Delphi's global business operations to Platinum Equity. ...

2009-06-01 GM Europe Secures Bridge Financing Commitment/Magna MOU and Continues Normal Operations
Zurich. GM Europe today announced it continues normal operations and it is not included in the court-supervised process of General Motors Corp (NYSE: GM), its U.S. parent. ...

2009-06-01 Holden Operations Unchanged by Parent Company Announcements in the US
Holden will continue normal operations in Australia and New Zealand and does not expect changes to its business after General Motors announced it has taken court action in the US to launch a competitive New GM. ...

2009-06-01 Statement from GM Asia Pacific region regarding GM U.S. Filing
GM Asia Pacific continues moving forward. Upon court approval, all GM operations in the region, including its joint ventures, will become part of the "New GM." ...

2009-06-01 Statement from GM Latin America, Africa and Middle East Region (LAAM) Regarding GM U.S. Filing
The GM Latin America, Africa and Middle East region (LAAM) is not part of the chapter 11 filing today in the U.S. and will continue its operations as it has in the past. LAAM is a collection of self-funded companies; and, pending court approval, LAAM will become part of the New GM. ...

2009-06-01 Business As Usual At General Motors' Operations in the Middle East
Dubai, United Arab Emirates- General Motors' operations in the Middle East have announced that they are not part of General Motors' voluntary chapter 11 filing in the United States to implement a '363' sale agreement. ...

2009-06-01 GM Canada Restructuring Plan is Approved
General Motors of Canada Limited announced today that its comprehensive restructuring plan has been approved by the Canadian and Ontario Governments. The agreements reached with key stakeholders will enable the company to complete its restructuring efforts without the need for court-supervision. ...

2009-06-01 GM Pulls Ahead U.S. Plant Closures; Reaffirms Intent to Build Future Small Car in U.S.
DETROIT, Mich. -- General Motors Corp. (NYSE: GM) today announced details of its accelerated manufacturing plan to improve capacity utilization and flexibility for the New GM. GM also reaffirmed it will build a small car at one of its U.S. assembly plants on standby capacity status. ...

2009-06-01 GM Board of Directors statement
"The General Motors Board of Directors authorized the filing of a chapter 11 case with regret that this path proved necessary despite the best efforts of so many. ...

2009-06-01 GM ANNOUNCES AGREEMENT WITH U.S. TREASURY AND CANADIAN GOVERNMENTS PROVIDING FAST TRACK TO COMPETITIVE FUTURE FOR 'NEW GM'
DETROIT - General Motors Corp. (NYSE: GM) today announced that it has reached agreements with the U.S. Treasury and the governments of Canada and Ontario to accelerate its reinvention and create a leaner, stronger "New GM" positioned for a profitable, self-sustaining and competitive future. ...

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