10:54 AM, Jun 13, 2014 • By GEOFFREY NORMAN
Still warm, anyway. But struggling. As Tim Higgins of Bloomberg reports, the company:
... which before today had already recalled almost 14 million vehicles in the U.S. this year, is calling back 511,528 current-generation Chevrolet Camaros in North America.
The Camaro is the new company’s signature car. The one that makes the case that the bad old days are behind.
The “new” company’s:
... recall number exceeds the 10.7 million-vehicle mark set by the Detroit-based automaker in 2004, according to the U.S. National Highway Traffic Safety Administration.
4:26 PM, May 23, 2014 • By GEOFFREY NORMAN
It has been days now (at least two of them) since General Motors has issued a recall on any of its cars. But then, the law of diminishing returns applies here. After the first 15 million, there aren’t that many GM vehicles left out there for recalling.
1:21 PM, May 21, 2014 • By GEOFFREY NORMAN
The bailout of GM – at a final cost to the Treasury of $10 billion and change – was a landmark event in evolution state capitalism, American-style. The company was saved, certain creditors were stiffed, the unions were protected, and the corporate culture, it seems, was not altered in any fundamental way.
8:42 AM, Apr 9, 2014 • By GEOFFREY NORMAN
The administration’s enthusiasm for GM extended to its electric car, the Chevy Volt. President Obama once said he’d like to drive one when he leaves office and no reason he couldn’t. There’s lots of inventory lying around.
10:14 AM, Apr 2, 2014 • By GEOFFREY NORMAN
The new CEO of the new General Motors testified yesterday before Congress and said that she is “deeply sorry” about the company’s negligence in selling cars that came standard with a flaw that could kill you. The company knew. A government regulatory agency knew. And if the administration of President Obama did not know, then one is inclined to wonder why not and go to the only possible explanation, which is incompetence. The administration rescued the company from bankruptcy, after all, using billions of taxpayer dollars. Should it not have taken a careful look at what the money was buying?
11:22 AM, Mar 31, 2014 • By GEOFFREY NORMAN
The script is familiar. General Motors’ top executive heading down to Washington to be grilled by Congress. As Joseph B. White of Market Watch reports, fifty years after the Corvair controversy that made Ralph Nader a household name:
3:46 PM, Mar 12, 2014 • By GEOFFREY NORMAN
Two car companies – Toyota and GM – some of whose vehicles are having engineering problems serious enough to be a safety risk and require massive recalls. One is investigated by Congress and the National Highway Traffic Safety Administration while the other is not … until very recently, that is. Toyota, the company that did face government investigation and sanctions is, of course, not even an “American” corporation. GM is. And was, for a time, a ward of the state.
10:12 AM, Dec 19, 2012 • By DANIEL HALPER
The American taxpayers stand to lose billions as General Motors today announced a plan to buy back 40 percent of the company owned by the federal government.
9:00 AM, Nov 5, 2012 • By EDWARD NIEDERMEYER
The auto bailout debate, already a triumph of narrative over reality, took another turn for the absurd last week as both presidential campaigns exchanged salvos over what amounted to a misunderstanding about Chrysler's plan to build Jeeps in China.
2:07 PM, Sep 4, 2012 • By DANIEL HALPER
Today is the first day of the Democratic convention in Charlotte. Coincidentally, GM, the embattled car company that was bailed out by the federal government, has some good news to report.
Sep 10, 2012, Vol. 17, No. 48 • By STEPHEN F. HAYES
If you missed Paul Ryan’s speech at the Republican National Convention last week and tried to play catch-up the next morning, you could be forgiven for concluding that nothing the Wisconsin congressman said was true.
Twelve hours after the speech, Josh Marshall, editor of the liberal Talking Points Memo, popular among journalists, asked: “Will the Paul Ryan Lying Thing Break Through in the Mainstream Press?”
Um, yes. It would.
11:24 AM, Aug 14, 2012 • By GEOFFREY NORMAN
Not so hot, it seems. First, there is the simple matter of costs.
The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
1:27 PM, Jun 5, 2012 • By DANIEL HALPER
Mitt Romney maintains that "President Barack Obama is holding on to the government's stake in General Motors to avoid an embarrassing financial loss before the election, and says he'd sell the stock quickly if he wins the White House," according to the Detroit News, which recently interviewed the Republican presidential candidate.
1:01 PM, May 17, 2012 • By DANIEL HALPER
Speaking in Ohio, Vice President Joe Biden admitted that auto workers lost jobs because of actions taken by the Obama administration: