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Hummer deal: GM ´satisfied´ with sale terms

Public opinion and insider views vary widely on Sichuan Tengzhong´s surprise bid to buy and continue producing GM´s Hummer brand.

Tengzhong has a bumpy road ahead to break in Hummer

For many it´s appropriate that Hummer means a horse that cannot be tamed in Chinese because they believe the bulky, gas-guzzling utility vehicle would not co-exist happily with Tengzhong´s stable of other products.

BizChina Special

<strong>Bankrupt GM: What is ahead?</strong>

Bankrupt GM: What is ahead?

<strong>GM´s 100-year history</strong>

GM´s 100-year history

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Reshuffles - Government

Obama: Confident GM will rise again

Obama: Confident GM will rise again

Obama: GM restructuring ´full of promise´

Obama: GM restructuring ´full of promise´

72.5% GM stocks - U.S. gov´t to own 72.5% of GM

U.S. taxpayers soon may own 72.5 percent of General Motors stocks after GM reached an amended debt-for-equity deal with bondholders on Thursday.

30 bln dollars - U.S. gov´t to invest additional $30 bln to help GM

U.S. President Barack Obama promised on Monday that the U.S. government will invest additional30 billion dollars in GM, which he was confident will emerge from the bankruptcy protection process quickly.

health-care costs - U.S. auto workers´ union ratifies GM labor deal

The United Auto Workers (UAW) union ratified a labor deal with General Motors Corp. on Friday, which will help the largest U.S. automaker to emerge more quickly from a possible bankruptcy.

Reshuffles - GM

GM announces "veteran" chief restructuring officer

GM announces "veteran" chief restructuring officer

GM announces preliminary agreement to sell Hummer

GM announces preliminary agreement to sell Hummer

Build small cars - GM to build small cars in U.S.

General Motors Corp. announced on Friday a plan to manufacture small cars in the United States, in a bid to revive its falling sales and production in home market.

Debt-swap deal - Majority of GM bondholders accept sweetened debt-swap deal

bondholders have accepted a debt-for-equity exchange offer that would give them a warrant of 15 percent more stake.

slashing dealer - GM, Chrysler say dealer cuts critical to survival

GM, which filed for bankruptcy on Monday, plans to close about a combined 1,600 dealerships.

Bankruptcy Timeline

June 1, 2009 - GM files for bankruptcy protection

May 31, 2009 - GM bondholders accept debt-for-equity exchange

May 27, 2009 - New restructuring plan fails to win support from 90% of debt holders

Apr. 27, 2009 - GM works out new reorganization plan

Mar. 23, 2009 - Obama vetoes GM´s reorganization plan

Feb. 17, 2009 - GM releases reorganization plan

Dec. 19, 2008 - GM receives US$13.4 bln from the Bush admin. to avoid bankruptcy

Reasons behind Bankruptcy

<font color=blue>Huge labor costs</font>

Huge labor costs

Almost all the interviewees in Detroit shared the same opinion that labor costs should be blamed for the 100-year-old GM´s collapse.

<font color=blue>Dependence on SUV & trucks</font>

Dependence on SUV & trucks

GM´s dependence on powerful, fuel-guzzling sport-utility vehicles and trucks met with a double hit last year when record-high oil prices and then an unprecedented recession restrained demand.

<font color=blue>Lack of fuel-efficient cars</font>

Lack of fuel-efficient cars

Small cars represent one of the fastest growing segments in both the U.S. and around the world.

Influence

GM´s China operations face little impact

GM´s China operations face little impact

The impact of GM´s bankruptcy protection filing in New York is expected to have little impact on its operations in China. The reassurance came from the automaker´s China chief executive office. GM also says the China operations will be the "critical" part of a new GM.

Detroit locals saddened by loss of once-proud legend

Detroit locals saddened by loss of once-proud legend

Nearly everybody in the Detroit, Michigan area is affected by the health of the automotive industry. Most people who live in or near Detroit are worried about the future of GM and the people that rely on the auto industry.

Brown says British carmaking jobs be saved after GM filing for bankruptcy protection

British Prime Minister Gordon Brown said on Monday that he is confident that many jobs at British carmaker Vauxhall can be saved after its parent company General Motors Corp (GM) filed for bankruptcy protection.

Isuzu Motors to maintain cooperation with GM

Reaction from GM Thailand | S Korea´s GM Daewoo | GM Japan

Media Reaction

US Today

--Seven reasons GM is headed to bankruptcy: not filing for bankruptcy sooner, killing the EV1 electric program, overreacting to the truck boom.

The Washington Post

--The court filing marks the end of financial independence for the 100-year-old industrial leviathan.

The Detroit Free Press

--The Chrysler, GM and other bankruptcies in the automotive sector are meant to be transitions, not liquidations.

The New York Times

--Mr. Henderson may have only three months, the government´s ideal length for the bankruptcy case.

The Wall Street Journal

--GM collapses into government´s arms