DETROIT (Reuters) – General Motors Co’s (GM.N: Quote, Profile, Research, Stock Buzz) chief executive said on Tuesday the U.S. automaker was in “constructive” talks with unions in Germany about its plants there, but declined to address the fate of a factory many analysts expect will eventually be closed.
“We are in discussions with our German unions and others throughout Europe,” CEO Dan Akerson told reporters before GM’s annual shareholders meeting. “They’re constructive, they’re professional, and it’s our hope and expectation that we’ll come to some sort of mutual understanding.”
DETROIT, June 1 (Reuters) – General Motors Co will
cut nearly a quarter of its U.S. pension obligation by
transferring the management of its pension plans for 118,000
white-collar retirees to a third-party and offering lump-sum
The two moves announced Friday will cut $26 billion from the
automaker’s massive U.S. pension liability of nearly $109
billion. GM’s pension risk is a top concern for investors and is
one of a handful of issues left untouched during GM’s
U.S.-financed bankruptcy restructuring three years ago.
DETROIT (Reuters) – Disappointing auto sales in May from General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) and Chrysler Group LCC suggested industry demand slowed from the strong pace of the first four months.
DETROIT (Reuters) – The world’s largest automaker is jilting America’s Super Bowl for the global variety of football.
General Motors Co has signed on as the automotive sponsor of the world’s most popular soccer club, Manchester United, in an attempt to cement Chevrolet as a global brand.