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Keyword: generalmotors

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  • General Motors suspends dividend, stock buybacks to preserve cash

    04/27/2020 6:11:58 AM PDT · by dynachrome · 32 replies
    CNBC ^ | 4-27-20 | Michael Wayland
    GM is suspending its quarterly dividend and stock buybacks to preserve cash during the coronavirus pandemic. The automaker said it also extended a $3.6 billion, three-year revolving credit facility to April 2022 to help bolster its liquidity. GM’s U.S. plants have been shuttered since mid-March due to Covid-19. union leaders said last week they oppose an early-May restart, which several automakers have announced.
  • News Summary-Intelligence Report Friday 3/27/2020 Newsdump Friday

    03/27/2020 9:11:07 PM PDT · by Nextrush · 1 replies
    Nextrush Free ^ | 3/27/2020 | Nextrush/Self
    Congressman Thomas Massie of Kentucky and activist Ammon Bundy take stands for the US Constitution in the face of America's "Coronavirus Crisis" but first..... French President Emmanuel Macron expressing his gratitude to Iraqi authorities over the release of four workers from a French Christian charity who were kidnapped in Iraq... Israel air force planes attacking targets in Gaza tonight after a rocket launched from the Gaza Strip.... President Trump calling for the ejection of libertarian Republican US Representative Thomas Massie of Kentucky from the Republican Party for insisting on a roll call vote to pass the multi-billion dollars coronavirus bailout...
  • Memorandum on Order Under the Defense Production Act Regarding General Motors Company

    03/27/2020 9:00:37 PM PDT · by ransomnote · 24 replies
    whitehouse.gov ^ | March 27, 2020 | White House
    MEMORANDUM FOR THE SECRETARY OF HEALTH AND HUMAN SERVICESSUBJECT:      Order Under the Defense Production Act Regarding General Motors CompanyBy the authority vested in me as President by the Constitution and the laws of the United States of America, including the Defense Production Act of 1950, as amended (50 U.S.C. 4501 et seq.) (the “Act”), it is hereby ordered as follows:Section 1.  Policy.  On March 13, 2020, I declared a national emergency recognizing the threat that the novel (new) coronavirus known as SARS-CoV-2 poses to our national security.  In recognizing the public health risk, I noted that on March 11, 2020, the World Health Organization...
  • Trump invokes Defense Production Act to force GM to make ventilators for coronavirus fight

    03/27/2020 3:36:01 PM PDT · by Berlin_Freeper · 46 replies
    nbcnews.com ^ | March 27, 2020 | Dartunorro Clark
    President Donald Trump invoked the rarely used Defense Production Act on Friday to order the Department of Health and Human Services to compel General Motors to manufacturer ventilators hours after he sharply criticized the company for slow-walking production. "Our negotiations with GM regarding its ability to supply ventilators have been productive, but our fight against the virus is too urgent to allow the give-and-take of the contracting process to continue to run its normal course," Trump said in a statement. "GM was wasting time. Today’s action will help ensure the quick production of ventilators that will save American lives." Trump,...
  • Trump ORDERS GM to open their shuttered Ohio plant and 'start making ventilators NOW' as he threatens to invoke special defense powers claiming company tried to price gouge

    03/27/2020 1:41:16 PM PDT · by Zenyatta · 51 replies
    Daily Mail ^ | 3/27/2020 | Geoff Earle
    President Donald Trump is demanding General Motors start manufacturing desperately needed ventilators 'NOW' – after a stunning report his administration stalled a potential deal over the cost. After sustaining weeks of questions and criticisms about why his administration hadn't demanded rush orders for medical equipment weeks ago, Trump took to Twitter to demand GM get on the task 'FAST.' He even demanded they reopen a shuttered Ohio plant – even though the company has already put forward a proposal to start assembly at a plant in Indiana.
  • Liberal Tech Outlets Tout GM’s Multibillion-Dollar Shift to Go Green

    03/05/2020 12:36:26 PM PST · by JV3MRC · 9 replies
    NewsBusters ^ | 3/5/2020 | Joseph Vazquez
    General Motors (GM) recently announced it was investing billions into a new eco-friendly “electric car” initiative to compete with the tech giant Tesla in an effort to go green, and tech media outlets are touting the change. Both Axios and The Verge ran stories March 4 on GM’s $20 billion bet over the next five years on its new green initiative. And while Axios questioned the stability of GM’s commitment, and The Verge tried to play gotcha by criticizing how the company’s past positions have aligned with the policies of President Donald Trump, the outlets appeared to like the shift...
  • GM Wants to Produce a Lot of (electric) Cars — and Less of Everything Else

    02/07/2020 6:23:52 AM PST · by karpov · 95 replies
    Barron's ^ | February 6, 2020 | Al Root
    General Motors, the auto maker that sells millions of cars and trucks each year, has a new production target: zero. CEO Mary Barra hasn’t lost her mind. Instead, GM’s goal is a future with zero crashes, zero emissions and zero congestion, the company said at an investor event following the release of its fourth-quarter earnings. It’s a bold vision to say the least. Zero EmissionsNo greenhouse gases coming from a tail pipe, of course, is all about vehicle electrification. GM, it seems, is leaving the traditional motor behind. “We believe climate change is real, it’s a global concern and the...
  • GM to revive Hummer name with electric pickups, SUVs: sources

    01/10/2020 1:17:46 PM PST · by Oldeconomybuyer · 36 replies
    Reuters ^ | January 10, 2020 | by David Shepardson
    General Motors Co will revive the Hummer name to sell a new family of electric pickup trucks and sport utility vehicles and will tout the return with a Super Bowl ad featuring NBA star Lebron James, two people briefed on the matter said on Friday. The vehicles will be sold under the GMC nameplate. Reuters reported in October that GM planned to build a new family of premium electric pickup trucks at its Detroit-Hamtramck plant beginning in late 2021 and was considering reviving the Hummer name, citing several people familiar with the plans.
  • Union Labor’s Profanity Protection

    11/20/2019 7:52:53 PM PST · by karpov · 7 replies
    Wall Street Journal ^ | November 20, 2019
    Union workers can say a lot while under the protection of American labor law. For example: “Go back to Africa, you bunch of —ing losers!” That was only one of the racial epithets shouted in 2012 by picketing Ohio tire workers at a group of replacement employees, many of them black. When the tire company fired one offender, its decision was overturned by an administrative judge. That ruling was upheld by the National Labor Relations Board in a 2016 decision, Cooper Tire . These kinds of precedents, employers say, put them in a bind between labor law and workplace standards—even...
  • California to stop buying GM, Toyota and Fiat Chrysler vehicles over emissions fight

    11/18/2019 12:41:10 PM PST · by SunkenCiv · 110 replies
    Reuters via Yahoo ^ | November 18, 2019 | David Shepardson (editing by Tom Brown)
    California said on Monday it will halt all purchases of new vehicles for state government fleets from GM, Toyota and Fiat Chrysler and other automakers backing President Donald Trump in a battle to strip the state of authority to regulate tailpipe emissions. Between 2016 and 2018, California purchased $58.6 million in vehicles from General Motors Corp, $55.8 million from Fiat Chrysler Automobiles $10.6 million from Toyota Motor Corp and $9 million from Nissan Motor Co. Last month, GM, Toyota, Fiat Chrysler and members of the Global Automakers trade association backed the Trump administration's effort to bar California from setting tailpipe...
  • Stocks surge to record high after strong jobs report

    11/01/2019 3:03:18 PM PDT · by Olog-hai · 11 replies
    Fox Business ^ | 11/01/2019 | Jonathan Garber
    The S&P 500 and Nasdaq Composite closed at record highs on Friday after the October employment report blew past estimates. The U.S. economy added 128,000 jobs last month, well ahead of the 89,000 that economists surveyed by Dow Jones were expecting. The unemployment rate ticked up to 3.6 percent as wages grew at a 3 percent year-over-year clip. The better-than-expected results came despite the pressure from a six-week General Motors strike. Helping fuel the rally was improvement in the manufacturing sector. ISM Manufacturing reading rose 0.5 percentage points to 48.3 in October, but that was below the 48.9 that economists...
  • Trump has General Motors on his side in emissions fight

    10/29/2019 6:12:07 PM PDT · by BenLurkin · 22 replies
    fox news ^ | 10/29/2019 | Ken Martin
    General Motors has joined Fiat Chrysler and Toyota in saying on Monday that they are siding with the Trump administration in taking on California over fuel economy standards, according to the New York Times. The argument presented by the automakers siding with Trump is that the federal government and not California has the authority in the matter, according to The Times. Those automakers are represented by the group the Association of Global Automakers. General Motors and Fiat Chrysler referred queries to Global Automakers. Toyota did not immediately respond to a request for comment by the Times.
  • News Summary-Intelligence Report Friday 10/25/2019 Newsdump Friday

    10/25/2019 9:17:09 PM PDT · by Nextrush · 2 replies
    Nextrush Free ^ | 10/25/2019 | Nextrush/Self
    From California raging wildfires and fear of more wildfires causing Pacific Gas and Electric to warn that up to 850-thousand customers...... Protesters back on the streets of Iraq today with at least 40 reported dead.... The demonstrations continuing in Lebanon..... The streets of Bolivia's capital La Paz blocked today in protest at the election result..... Some one million people reported participating in a mass rally in Santiago, Chile...... A federal judge ruling late Friday that the Justice Department must hand over grand jury materials from the Robert Mueller investigation to the Democrat controlled House Judiciary Committee.... The news late Thursday...
  • GM, UAW agree on tentative labor contract that could end a monthlong strike by 48,000 workers

    10/16/2019 9:28:04 AM PDT · by Red Badger · 26 replies
    CNBC ^ | 10/16/2019 Published an hour ago Updated Moments Ago | Michael Wayland
    Key Points The deal is likely about two weeks away from being finalized. It still needs approval from local union leaders and GM’s 48,000 UAW members, who’ve been on strike since Sept. 16. The monthlong work stoppage is the UAW’s longest strike against GM since 1970. DETROIT — General Motors and union leaders have reached a tentative deal on a new labor contract that could end the United Auto Workers’ monthlong strike against the automaker, the UAW said Wednesday. Details of the proposed deal were not immediately available. However, the union’s roughly 48,000 members with GM are expected to receive...
  • Union Workers Vote to Authorize Strikes While Negotiating with GM

    09/04/2019 7:16:56 AM PDT · by ChicagoConservative27 · 17 replies
    Breitbart ^ | 09/03/2019 | John Binder
    Union auto workers voted, by a large majority, to authorize strikes while the United Auto Workers (UAW) union negotiates contracts with General Motors, Ford Motor Company, and Fiat Chrysler. UAW members voted about 96 percent to allow union workers to strike while UAW leaders negotiate contracts with GM, Ford, and Chrysler — a vote that merely authorizes strikes and does not indicate that strikes will be held. UAW President Gary Jones said in a statement:
  • Netflix is now a propaganda machine for the Obamas

    08/27/2019 11:14:02 PM PDT · by knighthawk · 13 replies
    NY Post ^ | August 27 2019 | Armond White
    This week’s widespread media blitz heralding Netflix’s broadcast of its first Obama-endorsed presentation, “American Factory,” was more than synchronicity. It felt as though US publicists and journalists collectively exhaled their relief at finally regaining the bully pulpit. Reviews of “American Factory,” a doc by indie veterans Julia Reichert and Steven Bognar, were not reliable accounts of the film’s quality. Its lack of focus following a Chinese manufacturer’s takeover of a former General Motors plant in Ohio — a move that fails to relieve working-class anxieties but, instead, predicts job-market doom — didn’t faze flacks and reviewers. The media class saw...
  • Chevron May Be Forced To Leave Venezuela After Nearly 100 Years

    06/23/2019 3:09:57 PM PDT · by Libloather · 15 replies
    See BS local ^ | 6/19/19
    SAN RAMON (CBS SF / CNN) — Chevron’s nearly century-long relationship with Venezuela might not survive the Maduro regime’s fight with the United States. Not only is Venezuela’s infrastructure crumbling, but the OPEC member’s national oil company has been sanctioned by the Trump administration. Chevron, based in San Ramon and the last major US oil company still operating in Venezuela, could be forced to leave unless US officials extend sanctions waivers scheduled to expire on July 27. A Chevron exit would follow on the heels of other major American companies that have retreated from the chaos in Venezuela in recent...
  • GM and Bechtel plan to build thousands of electric car charging stations across the US

    05/28/2019 7:48:49 AM PDT · by Moonman62 · 76 replies
    CNN ^ | 5/28/19 | Peter Valdes-Dapena
    General Motors, America's largest automaker, and Bechtel, the country's largest construction company, are teaming up to build thousands of electric vehicle fast-charging stations across the United States. The two companies have agreed to create a new company that will build the charger network. Adding more fast charging stations should provide a boost to sales of electric cars. One of the biggest concerns Americans have about electric cars is whether there will be enough places to charge them, according to a recent survey by AAA. This network will not only help GM (GM), which plans to introduce 20 new electric vehicle...
  • The very first two Pontiac Firebirds ever built are for sale on Ebay

    05/12/2019 7:50:30 AM PDT · by ETL · 40 replies
    FoxNews.com/auto ^ | May 11, 2019 | Gary Gastelu | Fox News
    The first two production Pontiac Firebirds ever built are currently up for sale, but if you want them, you have to buy the pair, because the seller wouldn’t have it any other way. The 1967 coupe and convertible spent their early days as Pontiac show cars before being released for public sale and have reportedly been together ever since. They didn’t lead a pampered life, however, and by 2014 were in pretty rough shape and not in running condition. That’s when the folks at Gas Monkey Garage of “Fast and Loud” fame heard about them and bought the birds for...
  • Dem to offer bill to expand electric vehicle tax credit

    04/01/2019 12:20:37 PM PDT · by jazusamo · 35 replies
    The Hill ^ | April 1, 2019 | Naomi Jagoda
    Rep. Ro Khanna (D-Calif.) said Monday that he's planning to introduce legislation in the coming weeks to expand the electric vehicle tax credit and link it to domestic manufacturing, calling the bill a way to help both the environment and the economy. "That's a pretty concrete application of how the Green New Deal can create jobs in the United States," Khanna, the first vice chair of the Congressional Progressive Caucus, told reporters. Under current law, people who purchase new electric vehicles can receive a tax credit of up to $7,500. The amount of the credit phases out after a manufacturer...