GM Loses Butt-Load Of Cash In 2008

Thursday, February 26th, 2009

General Motors lost a few bucks in 2008. Okay, that's a bit of an understatement. For the fiscal year ending December 2008 the Detroit auto manufacturer lost $30.9 billion. Not only is losing money the main business of GM these days, it's an expensive one. ...

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GM Says Cash Could Run Out Soon

Wednesday, January 21st, 2009

One thing you have to say about General Motors is that no company appears able to burn cash faster than them. Government money has already arrived, but according to the company, it just won't be enough. The company has already received a $4 billion dollar payment, but a ...

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US Government Part Owner Of GMAC

Friday, January 2nd, 2009

The US government is now a part owner of auto-loan lender GMAC. Uncle Sam has injected $5 billion of fresh capital into the struggling company. In exchange, they'll receive 5 million shares of preferred stock in the corporation. The shares come with an 8% annual interest rate ...

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Chrysler And GM Get Paid

Monday, December 29th, 2008

Chrysler and GM get their tax payer bailout funds today, in a move that should prevent the collapse of the domestic auto industry. As the money flows towards the companies, analysts predict that this is just the start of the bailout. The U.S. Treasury is expected to transfer $9.3 billion ...

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Brutal January Coming For Big Three

Thursday, December 18th, 2008

The Big Three automakers are in for a brutal January, according to analyst Jim Gillette. Sales are so bad in the auto industry worldwide, that job cuts are expected from every major auto maker as they've all been forced to cut production. Chrysler LLC said it would extend the traditional ...

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GM Stock Crashes

Monday, June 30th, 2008

GM stock hits a 30 year low, driving the company's total market cap to around $6.5 billion. Toyota's (NYSE:TM) market cap is now 25 times as much GM's market cap, indicating people just aren't seeing a great future for GM. GM still produces more cars than everyone else, ...

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