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Jan 7, 2011

How Ford became Detroit’s last man standing

DETROIT, Jan 7 (Reuters) – Bill Ford Jr. just can’t let the
good times roll.

In late December, Ford, 53, was on a family ski vacation in
Colorado but found himself unable to put aside dark visions of
how too much success could lead to the next crisis for the auto
industry.

Dec 16, 2010

Cadillac working on luxury plug-in hybrid -sources

DETROIT, Dec 16 (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) has
been working to develop a plug-in hybrid vehicle based on its
Cadillac SRX crossover, two people with direct knowledge of the
work said.

The Cadillac plug-in would share some of the technology
that GM has developed for its Chevrolet Volt over the past four
years, allowing the automaker to bring down the cost of its
emerging electric car offerings, one of the sources said.

Dec 14, 2010

GM offers U.S. factory job buyouts

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) said on Monday it wants to cut as many as several thousand U.S. skilled trades workers through retirement incentives, its first attempt to reduce factory jobs since its 2009 bankruptcy.

GM has offered $60,000 to skilled trades workers who retire or leave the automaker’s payroll, spokesman Chris Lee said. The automaker currently has “a couple thousand” more skilled trade workers than it needs, Lee said.

Nov 24, 2010

Chevy Volt tops Prius in fuel economy rating

DETROIT (Reuters) – General Motors Co said on Wednesday its Chevy Volt plug-in hybrid will carry an overall fuel economy rating of 60 miles per gallon, topping the Toyota Prius, the industry’s long-time fuel economy leader.

GM has begun to assemble the long-awaited Volt at a Detroit-area factory, with initial sales expected in December.

Nov 18, 2010

GM readies market return after blockbuster IPO

DETROIT/NEW YORK (Reuters) – General Motors Co prepared for a dramatic return to the stock market on Thursday, a day after completing the largest U.S. share offering and less than a year and a half after emerging from a landmark bankruptcy.

GM shares were set to begin trading on the New York Stock Exchange and the Toronto Stock Exchange on Thursday, capping the first stage of a turnaround that has taken the 102-year-old automaker from near-death in 2008, to bailout in 2009, to unlikely Wall Street favorite in 2010.

Nov 17, 2010

SAIC stake in GM yet to win China OK -sources

DETROIT/NEW YORK, Nov 17 (Reuters) – China’s government has
not yet approved state-run automaker SAIC’s plans to take a
stake in General Motors Co [GM.UL], making it uncertain whether
the deal can be completed as part of the U.S. automaker’s IPO,
two people familiar with the matter said on Wednesday.

GM and SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research, Stock Buzz) have been in
wide-ranging discussions since the summer on ways to expand
their cooperation beyond the China market, where they are
joint-venture partners, people with knowledge of those private
talks have said.

Nov 17, 2010

SAIC stake in GM yet to win China OK -sources

DETROIT/NEW YORK, Nov 17 (Reuters) – China’s government has
not yet approved state-run automaker SAIC’s plans to take a
stake in General Motors Co [GM.UL], making it uncertain whether
the deal can be completed as part of the U.S. automaker’s IPO,
two people familiar with the matter said on Wednesday.

GM and SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research) have been in
wide-ranging discussions since the summer on ways to expand
their cooperation beyond the China market, where they are
joint-venture partners, people with knowledge of those private
talks have said.

Nov 17, 2010

GM boosts IPO size to reduce government stake

NEW YORK/DETROIT (Reuters) – General Motors Co GM.UL raised the common stock portion of its initial public offering by 31 percent on Wednesday following a surge of investor interest, putting the deal on track to raise as much as $22.7 billion.

The announcement by the top U.S. automaker comes a day after it raised the price range for the IPO and increased the preferred shares on offer by a third to $4 billion.

Nov 15, 2010

SAIC agrees to take GM stake in IPO: sources

DETROIT/NEW YORK (Reuters) – China’s SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research, Stock Buzz) has agreed to take a stake in General Motors Co GM.UL if Chinese regulators approve a deal to deepen an existing alliance between the two automakers, four people familiar with the matter said.

The potential investment from SAIC is part of a surge in investor interest in GM that is expected to push the pricing of its shares to $29 or above in the U.S. automaker’s initial public offering, one of the sources said.

Nov 14, 2010

SAIC to take GM stake if China approves: sources

DETROIT/NEW YORK (Reuters) – China’s SAIC Motor Corp Ltd (600104.SS: Quote, Profile, Research, Stock Buzz) has reached an agreement in principle to take a stake in General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) if Chinese regulators approve a deal to deepen an existing alliance between the two automakers, three people familiar with the matter said.

The potential investment from SAIC is part of a surge in investor interest in GM that expected to push the pricing of its shares to $29 or above in the U.S. automaker’s initial public offering, one of the sources said.

    • About Kevin

      "Kevin Krolicki is Reuters bureau chief in Detroit where he has been based since 2006. He has also worked as an editor and reporter in Los Angeles and Tokyo."
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