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05 Jun 2009 16:43

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Biz: An odd left turn: Car-racing-rooted Penske buys Saturn from GM

  • The car brand would have died without a buyer. Well, General Motors has one less brand to worry about. Just days after agreeing to sell Hummer to a Chinese company, they’ve found a suitor for another castoff, Saturn. Penske, owned by namesake former racer (and current NASCAR and Indy Car team owner) Roger Penske, will only distribute the brand and currently own no dealerships. Nor will they open any. The move, to be complete in October, would save 13,000 jobs and 300 dealerships. source
Posted by Ernie Smith • 0 Comments • Permalink

03 Jun 2009 21:17

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U.S., World: Hugo Chavez pokes fun at his “comrade” Barack Obama

  • Hey, Obama has just nationalized nothing more and nothing less than General Motors. Comrade Obama! Fidel, careful or we are going to end up to his right.
  • Venezuelan president Hugo Chavez • Who has a huge crush on our president and has backed off of some of his more anti-American leanings since the prez took office. Their manlove is so real that they create bestsellers together. • source
Posted by Ernie Smith • 0 Comments • Permalink

03 Jun 2009 10:20

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Biz, U.S.: GM’s bankruptcy is not going to help Michigan’s economy one bit

  • 780,000 number of jobs lost in Michigan in the last decade; that’s a LOT source
Posted by Ernie Smith • 0 Comments • Permalink

02 Jun 2009 11:07

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Biz, U.S.: GM sez parties making interested rings around Saturn

  • 16 interested parties approached GM about buying the brand source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 22:08

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Biz: First to go in the GM bankruptcy? The corporate jets.

  • 7 number of “not necessary” corporate jets GM wants to ditch source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 10:39

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Biz, U.S.: How did General Motors go from pioneering to bankrupt?

General Motors circa 1906
  • There’s a long, winding story of how GM got from hand-crank to Hummer to handouts. For a company this essential to our country – especially the Midwest, but really everywhere – it’s a sad, bastardized legacy.source
Posted by Ernie Smith • 0 Comments • Permalink

01 Jun 2009 10:08

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U.S.: When GM entered – and will leave – the Dow Jones index

  • 1925 The year the historic company perched its sturdy, reliable roost on the Dow Jones industrial average source
Posted by Ernie Smith • 0 Comments • Permalink
 

01 Jun 2009 08:44

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Biz, U.S.: Big auto news #2: GM files for bankruptcy protection

  • One of the country’s greatest icons of industry is no longer independent. After years of mounting losses and an inevitable couple of weeks, General Motors filed for bankruptcy this morning. source
  • The automaker, which has been eroding market share since the ’80s and lost $30 billion last year alone, will likely be 60% owned by the federal government, which is sarcastically awesome. source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 20:47

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Biz, U.S.: General Motors may soon be as American as socialist pie

  • 72.5% of GM could be owned by taxpayers. Hooray! source
Posted by Ernie Smith • 0 Comments • Permalink

28 May 2009 10:06

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Biz, U.S.: GM may not be completely screwed after 9th-inning agreement

  • Bondholders have accepted an amended agreement. After looking completely screwed yesterday due to a failed bond agreement, GM proved, like a phoenix rising out of the ashes, that it still had some fight in them. The company, teetering on bankruptcy, convinced bondholders to agree to a revised plan in which they’d receive a 10 percent equity stake. It may not be enough to save them, but you have to give them high-fives for the effort. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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