Yahoo! Finance: GM News

Latest Financial News for GEN MOTORS

• Democrats Delay Auto-Bailout Vote, Demand Plans From Big Three (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 22:30:09 Etc/GMT)

• For many CEOs, private jets the only way to fly (AP)

  (Thu, 20 Nov 2008 22:27:54 Etc/GMT)

  Some in Congress pounced this week on what they view as the hypocrisy of auto executives flying on corporate jets to Washington to ask for public help. Corporations insist riding on private planes is not a lavish perk, but rather a necessary security requirement for top officials that also helps them be more efficient.

• Aid for Big Three falters in Congress (at MarketWatch)

  (Thu, 20 Nov 2008 22:27:00 Etc/GMT)

  Democratic leaders of Congress say there's no deal yet on aid for the Big Three U.S. automakers until the chief executives show them concrete plans on how they would use the federal funds to turn their companiese around.

• [video] Stocks Tattered: Dow Sheds 5.6% [2.0 min] (at MarketWatch)

  (Thu, 20 Nov 2008 22:24:05 Etc/GMT)

  No deal for the carmakers and other bad news sent the markets tumbling Thursday. The S&P 500 hit an 11 1/2 year low. Stacey Delo reports.

• Stocks Plunge, Leaving Dow Below 7600 (at CNBC)

  (Thu, 20 Nov 2008 22:19:57 Etc/GMT)

• GMAC moves to tap government funding (at MarketWatch)

  (Thu, 20 Nov 2008 22:15:00 Etc/GMT)

  GMAC LLC, the financial arm of General Motors Corp., applies to become a bank-holding company so it can potentially gain access to emergency cash available through the Treasurys Capital Purchase Program.

• Bottom Drops Out; Dow Plummets 5.6% (at TheStreet.com)

  (Thu, 20 Nov 2008 22:09:29 Etc/GMT)

• Mexico peso, stocks hit by doubts on U.S. auto aid (at Reuters)

  (Thu, 20 Nov 2008 22:05:46 Etc/GMT)

• GM shares retreat after Congress idles deal (AP)

  (Thu, 20 Nov 2008 22:04:32 Etc/GMT)

  Shares of General Motors Corp. gave back most of their gains following a wild day of trading Thursday, after lawmakers put the brakes on a proposed bailout of the auto industry and demanded that the automakers develop a plan to show that the money would make them economically viable.

• Airline Stocks: Airlines extend losses as economic stress mounts (at MarketWatch)

  (Thu, 20 Nov 2008 22:04:00 Etc/GMT)

Yahoo! Finance: GM Financial Blogs

Latest Financial Financial Blogs for GEN MOTORS

• Four at Four: An Outright Disaster (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 21:37:00 Etc/GMT)

• Stocks Plunge Again Amid Worry About Bailout Pricetag (at Barron's Online)

  (Thu, 20 Nov 2008 21:34:00 Etc/GMT)

• What to Do About Detroit? (Zacks.com)

  (Thu, 20 Nov 2008 21:29:33 Etc/GMT)

  While it is hard to think of any managements that seem less deserving of help than those of the Big Three, the spillover effects to the rest of the economy could be huge if they went down.

• Can GMAC Save GM? (at Seeking Alpha)

  (Thu, 20 Nov 2008 21:09:12 Etc/GMT)

• 'Show Us the Plan,' Pelosi Says (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 20:23:00 Etc/GMT)

• Neel Kashkari, Pinup (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 17:46:00 Etc/GMT)

• Nardelli Pleads for Chrysler, but Would a Bailout Help? (at Seeking Alpha)

  (Thu, 20 Nov 2008 17:40:25 Etc/GMT)

• SolarWorld Makes €1B Bid for GM's Opel Unit; GM Declines (at Seeking Alpha)

  (Thu, 20 Nov 2008 17:33:55 Etc/GMT)

• UAW's Gettelfinger to Discuss Bailout Requests (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 17:20:00 Etc/GMT)

• L.A. Show Is Obscured by the Glare of Bailout Hearings (at The Wall Street Journal Online)

  (Thu, 20 Nov 2008 16:54:00 Etc/GMT)

MSN Money News - GM

News about General Motors Corp

• Dems delay auto bailout vote, seek plan from Big

  (Thursday, November 20, 2008 5:26 PM)

  WASHINGTON (AP) - Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable. "Until they show us the plan, we cannot show them the money," Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.

• GMAC's Inside-Out TARP

  (Thursday, November 20, 2008 5:23 PM)

  Auto-finance firm seeks to become a bank so that it can access government funds -- which it needs to become a bank.

• No Deal For Detroit

  (Thursday, November 20, 2008 5:23 PM)

  Democratic leaders want to see more details before bailing out U.S. automakers

• GM shares retreat after Congress idles deal

  (Thursday, November 20, 2008 5:04 PM)

  NEW YORK (AP) - Shares of General Motors Corp. gave back most of their gains following a wild day of trading Thursday, after lawmakers put the brakes on a proposed bailout of the auto industry and demanded that the automakers develop a plan to show that the money would make them economically viable.

• Paulson: crisis happens once or twice in 100 year

  (Thursday, November 20, 2008 4:38 PM)

  WASHINGTON (AP) - Treasury Secretary Henry Paulson called the financial crisis now plaguing the world economy a "once or twice" in a 100 years event, even as he warned Thursday against imposing too-strict regulations to prevent a repeat calamity.

• Zacks Analyst Blog Highlights: NTT DoCoMo, Inc.,

  (Thursday, November 20, 2008 7:45 AM)

  Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets.

• Bears Drive Down Stocks on Housing, Economic Data

  (Wednesday, November 19, 2008 1:58 PM)

  The major indices continue to sag with heavy losses as investors absorb dismal housing and economic data and automakers again face Congress to request aid.

GM - News and Analysis from Seeking Alpha

'GM' Tag RSS Syndication from SeekingAlpha.com

• Can GMAC Save GM?

  (Thu, 20 Nov 2008 16:09:12 -0500)

  Felix Salmon submits:

  [[GM]] and Chrysler aren't just two troubled auto companies. They are also linked by GMAC, a financial company which used to be wholly-owned by GM and which is now 51% owned by Cerberus, which also owns Chrysler. GMAC has now applied to become a bank holding company (it owns a small bank) -- with the obvious intention of asking Treasury for TARP funds. And just to complicate matters, GMAC owns ResCap, a troubled subprime mortgage lender.

  As John Carney said Thursday morning, this...

• Nardelli Pleads for Chrysler, but Would a Bailout Help?

  (Thu, 20 Nov 2008 12:40:25 -0500)

  Ockham Research submits:

  Bob Nardelli has engendered his fair share of controversy while Chief Executive of two of America’s largest corporations–The Home Depot (HD) and now Chrysler.  Thursday, he is at the center of a debate on Capitol Hill to assess the merits of a Federal rescue package for the automakers. Nardelli seeks $7 billion in government funding for privately-owned Chrysler because the current financial meltdown has left “The Big Three” in desperate need of a capital infusion to keep them out of bankruptcy. The trouble is that...

• SolarWorld Makes €1B Bid for GM's Opel Unit; GM Declines

  (Thu, 20 Nov 2008 12:33:55 -0500)

  Greentech Media submits:

  By Jeff St. John

  German solar manufacturer SolarWorld AG (SRWRF.PK) wants to make Europe's first "green" car company, and it's looking to snap up a unit of troubled General Motors Corp. (GM) to make it happen.

  
  Complete Story »

• Mitt Romney's NY Times Op-Ed On the Automakers: Dead On

  (Thu, 20 Nov 2008 11:33:12 -0500)

  Markham Lee submits:

  Mitt Romney wrote an Op Ed in Wednesday's NY Times on the Auto Industry that is a must read; I won't say much about the specifics other than to say that I agree with him 100%.

  I will say that he brings up a point or rather a "way of thinking"  that should be applied to all other bailout efforts, rescues, etc, etc, namely that the architects of such solutions must ask themselves: "are we investing in change or are we simply maintaining the status quo?

  
  Complete Story »

• Dow Member Changes Since the 10/02 Low

  (Thu, 20 Nov 2008 10:34:00 -0500)

  Hickey and Walters (Bespoke) submit:

  The Dow Jones Industrial Average is still about 15% above the bear market closing low on October 9th, 2002, but half of the index's current members are now down since then.  Below we highlight each Dow member's percentage change since 10/9/02.  As shown, McDonald's (MCD) is up the most at 241%, followed by Hewlett-Packard (HPQ), Exxon Mobil (XOM), Chevron (CVX), and Caterpillar (CAT).  Surprisingly, financial giant JP Morgan (JPM) is also one of the best performers with a gain of 108%.

  General Motors (GM) is, not surprisingly, down the most since...

• Fast Money - The Dow Falls Down (11/19/08)

  (Thu, 20 Nov 2008 09:13:48 -0500)

  Recap of CNBC's Fast Money program, Wednesday November 19.

  
  
  Down Down Big
   

  The Dow plunged to below 8,000, the lowest level in 5 years, on concern over the fate of the big three auto companies: GM, Ford and Chrysler. The Federal Reserve slashed its growth forecasts and more interest rates cuts are expected. Pete Najarian noted the financials are not leading and are in turmoil, and the volatility index is at 70. Guy Adami is concerned the Dow could drop all the way to 6,000. Jeff Macke cites deflationary pressure as the reason for the selloff. Karen Finerman does not see a recovery...

• Aid for the Automakers? You Decide!

  (Thu, 20 Nov 2008 08:11:30 -0500)

  Robert Salomon submits:

  For those of you who have been following this blog, you know where I stand on the proposed aid package for US automakers (see Preventing Moral Hazard in the Auto Industry for background). I am not opposed to aid for GM and Ford, provided that aid come with strict terms:

  1. A moratorium on acquisitions (whether with Chrysler, or otherwise)
  2. A rationalization of operations - a reduction in the number of brands/models coupled with plant closures
  3. A renegotiation of employment terms with the UAW to make the US automakers more competitive with global competitors
  4. Strong incentives to build more...

  5. Let the Detroit Automakers Fail

     (Thu, 20 Nov 2008 07:52:45 -0500)

     Avery Goodman submits:

     Bailing out the three big U.S. based carmakers is a very bad idea. All three have incompetent management, bloated pay scales (especially at the management level), too many legacy obligations, and vastly overpaid line workers, compared to their competitors who produce in America, and abroad. Giving taxpayer money to these three incompetent companies is the same as throwing it down a bottomless pit.

     Without firing of all top management staff, no real change will ever come to Detroit’s way of doing business. Bailouts simply reinforce failed policies, including the short-term thinking that got them into...

  6. Cramer's Mad Money - Market Triage (11/19/08)

     (Thu, 20 Nov 2008 07:39:23 -0500)

     Stocks discussed in the in-depth session of Jim Cramer’s Mad Money TV program, Wednesday November 19.

     Market Triage: Citigroup (C ), Goldman Sachs (GS), Morgan Stanley (MS), GM (GM), Ford (F)

     
     Complete Story »

  7. Thursday Market Preview: The Bears Are Firmly in Control

     (Thu, 20 Nov 2008 07:27:23 -0500)

     The Mole submits:

     Ouch, the Dow closes at its lowest level since 2003. There were several reasons including:

     1. Fears that a bailout of the key auto sector will fail to pass through Congress. Shares of the big three are trading at levels not seen since 1942. The difference being that they were a buy then! With the kind of crassness not seen since AIG(reeds)'s (AIG) spa trips, we learn that the big three automaker CEOs flew private jets to plead for public funds.
     2. The U.S Semiconductor Industry Association expects 2009 chips sales to fall 5.6%. This news...

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News for General Motors Corporation - Google Finance

News for General Motors Corporation - Google Finance

• The Man Who Could Run GM

  (Thu, 20 Nov 2008 21:38:47 GMT)
  The Man Who Could Run GM
  BusinessWeek - 56 minutes ago

  Of the three auto executives begging Congress for a bailout , General Motors Chairman G . Richard Wagoner Jr . looks the most exposed.Politicians have said that a Detroit management shakeup is ...

• GM shares soar on news of auto loan compromise

  (Thu, 20 Nov 2008 21:34:00 GMT)
  GM shares soar on news of auto loan compromise
  BusinessWeek - 1 hour ago

  Shares of General Motors Corp . soared in afternoon trading , reversing the morning's historic plummet , on news of a deal that could result in a financial bailout of the automaker industry.But ...

• GMAC files for bank holding status

  (Thu, 20 Nov 2008 21:11:50 GMT)
  GMAC files for bank holding status
  Forbes - 1 hour ago

  GMAC Financial Services , the financing arm of General Motors , said Thursday it applied to become a bank holding company , making it eligible for aid under the government's $700 billion bank ...

• S&P: GM ratings not affected by GMAC note exchange offer

  (Thu, 20 Nov 2008 21:01:42 GMT)
  S&P: GM ratings not affected by GMAC note exchange offer
  MarketWatch - 1 hour ago

  SAN FRANCISCO ( MarketWatch ) - - Standard & Poor's Ratings Services said Thursday that General Motors Corp . ' s ( GM :, , ) ratings are not affected by GMAC LLC's exchange offer for certain ...

• Commentary: Lame duck Congress gives carmakers another chance

  (Thu, 20 Nov 2008 20:58:14 GMT)
  Commentary: Lame duck Congress gives carmakers another chance
  MarketWatch - 1 hour ago

  On Thursday , after two days of cajoling Congress for a handout , Ford , General Motors and Chrysler's top executives appear to have made incremental headway.The Senate has reached a tentative ...

• GMAC Faces Major Hurdles In Bank Application

  (Thu, 20 Nov 2008 19:42:21 GMT)
  GMAC Faces Major Hurdles In Bank Application
  TheStreet.com - 2 hours ago

  GMAC Financial Services faces major regulatory obstacles in its quest to become a bank holding company , since its owners , Cerberus Capital Management and General Motors ( GM Quote - Cramer ...

• GM May Face Cash-On-Delivery Call From 3 Suppliers -Sources

  (Thu, 20 Nov 2008 19:38:00 GMT)
  GM May Face Cash-On-Delivery Call From 3 Suppliers -Sources
  CNNMoney.com - 2 hours ago

  LOS ANGELES - ( Dow Jones ) - Three major auto suppliers said Thursday that General Motors Corp . ( GM ) may have to pay cash on delivery for parts if it fails to secure additional federal aid.The ...

• Detroit bail-out: a nation in denial

  (Thu, 20 Nov 2008 19:00:49 GMT)
  Detroit bail-out: a nation in denial
  Financial Times - 3 hours ago

  Almost 30 years ago I reported for my first job in the Fisher Building in Detroit , a gilt - laden , art deco marvel conceived by Albert Kahn , which stood across the street from the headquarters ...

• GM shares soar on news of auto loan compromise

  (Thu, 20 Nov 2008 18:52:10 GMT)
  GM shares soar on news of auto loan compromise
  Forbes - 3 hours ago

  AP , 11.20 . 08 , 01 : 42 PM ESTShares of General Motors Corp . soared in afternoon trading , reversing the morning's historic plummet , on news of a deal that could result in a financial bailout ...

• GM bonds rise after Senators say auto deal reached

  (Thu, 20 Nov 2008 18:47:37 GMT)
  GM bonds rise after Senators say auto deal reached
  Forbes - 3 hours ago

  NEW YORK , Nov 20 ( Reuters ) - General Motors Corp ' s bonds rose on Thursday after four US senators said they had reached a bipartisan agreement on a bill to help the struggling auto industry.GM's ...

MarketWatch.com - All MarketWatch News - GM

MarketWatch, a leading publisher of business and financial news, offers users up-to-the minute news, investment tools, and subscription products.

• Movers & Shakers: Thursday's biggest gaining and declining stocks

  (Thu, 20 Nov 2008 17:31:00 -0500)

  Among the companies whose shares are seeing active trade in Thursday’s session are Ambac, Citigroup, Ford and General Motors.

• Aid for Big Three falters in Congress

  (Thu, 20 Nov 2008 17:27:00 -0500)

  Democratic leaders of Congress say there's no deal yet on aid for the Big Three U.S. automakers until the chief executives show them concrete plans on how they would use the federal funds to turn their companiese around.

• Video: Stocks Tattered: Dow Sheds 5.6%

  (Thu, 20 Nov 2008 17:23:23 -0500)

  No deal for the carmakers and other bad news sent the markets tumbling Thursday. The S&P 500 hit an 11 1/2 year low. Stacey Delo reports.

• Financial Stocks: J.P. Morgan cutting 3,000 jobs; shares fall 18%

  (Thu, 20 Nov 2008 16:15:00 -0500)

  Financial stocks tumble with J.P. Morgan Chase & Co. announcing it would cut about 3,000 jobs, sending shares down 18%.

• GMAC moves to tap government funding

  (Thu, 20 Nov 2008 17:15:00 -0500)

  GMAC LLC, the financial arm of General Motors Corp., applies to become a bank-holding company so it can potentially gain access to emergency cash available through the Treasury’s Capital Purchase Program.

• Market Snapshot: U.S. stocks slide to 11-year lows as hopes for auto bailout fade

  (Thu, 20 Nov 2008 17:07:00 -0500)

  U.S. stocks nose-dive into the close, with the S&P 500 index ending at its lowest level in more than 11 years, after it appears unlikely Congress will soon approve emergency loans for ailing automakers.

• Airline Stocks: Airlines extend losses as economic stress mounts

  (Thu, 20 Nov 2008 17:04:00 -0500)

  Airline stocks tumble with the broad market on fears of fewer passengers as the economic slump deepens.

• Audio: Closing bell report from MarketWatch Radio Network

  (Thu, 20 Nov 2008 16:25:42 -0500)

  The latest money news from anchor Steve Potisk.

• MarketWatch First Take: Lame ducks lurch toward a bailout for Detroit

  (Thu, 20 Nov 2008 15:57:00 -0500)

  While the House leadership is clearly stumped by how they can get enough votes to approve the loans, they are giving the automakers another chance next month to explain exactly what they would do differently if they got the money.

• S&P: GM ratings not affected by GMAC note exchange offer

  (Thu, 20 Nov 2008 15:52:17 -0500)

  SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services said Thursday that General Motors Corp.'s ratings are not affected by GMAC LLC's exchange offer for certain notes issued GMAC and its subsidiary Residential Capital LLC. S&P earlier cut GMAC and ResCap's ratings to "most speculative" grade of CC. GM, which owns 49% of GMAC, is rated CCC+.

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