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August sales won’t be reported until tomorrow, but the seers polled by Bloomberg News have already polished their crystal balls and made their predictions for the Detroit automakers: GM will report a 19.3% shortfall, Ford will report a 5.2% deficit and Chrysler will report sales improved by three percent. Details of each analyst’s forecasts are [...]
According to unnamed sources, General Motors intends to file the paperwork to begin the process to an initial public offering on Friday. The filing would come a day after GM may report as much as $1 billion in operating profit for the second quarter. If the rumors are correct, it would be GM’s best quarter [...]
General Motors this morning announced it will acquire Fort Worth, Texas-based AmeriCredit Corp in an all-cash transaction valued at $3.9 billion. The deal is expected to become final in the fourth quarter of this year. GM plans to make AmeriCredit the core of a new captive finance operation. GM has been using AmeriCredit instead of [...]
A report released today by the Office of the Special Inspector General for the Troubled Asset Relief Program questions the criteria General Motors and Chrysler LLC used to terminate thousands of dealers last year. The report was requested by members of Congress who had doubts about the standards and the automakers’ claims the cuts were [...]